HSEF.L vs. HMWD.L

Last updated Apr 2, 2026

Compare and contrast key facts about HSBC Emerging Market Sustainable Equity UCITS ETF USD (HSEF.L) and HSBC MSCI World UCITS ETF (HMWD.L).

HSEF.L and HMWD.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HSEF.L is a passively managed fund by HSBC that tracks the performance of the MSCI EM NR USD. It was launched on Aug 27, 2020. HMWD.L is a passively managed fund by HSBC that tracks the performance of the MSCI ACWI NR USD. It was launched on Dec 8, 2010. Both HSEF.L and HMWD.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HSEF.L vs. HMWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC Emerging Market Sustainable Equity UCITS ETF USD (HSEF.L) and HSBC MSCI World UCITS ETF (HMWD.L). The values are adjusted to include any dividend payments, if applicable.

HSEF.L vs. HMWD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HSEF.L HSBC Emerging Market Sustainable Equity UCITS ETF USD	3.85%	20.85%	17.02%	-1.33%	-8.36%	1.82%	11.41%
HMWD.L HSBC MSCI World UCITS ETF	-0.92%	12.43%	21.21%	18.40%	-8.52%	23.57%	7.55%

Different Trading Currencies

HSEF.L is traded in GBP, while HMWD.L is traded in USD. To make them comparable, the HMWD.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, HSEF.L achieves a 3.85% return, which is significantly higher than HMWD.L's -0.92% return.

HSEF.L

• 1D: 2.38%
• 1M: -3.61%
• YTD: 3.85%
• 6M: 5.14%
• 1Y: 24.64%
• 3Y*: 13.03%
• 5Y*: 5.36%
• 10Y*: —

HMWD.L

• 1D: 2.54%
• 1M: -2.71%
• YTD: -0.92%
• 6M: 2.65%
• 1Y: 17.25%
• 3Y*: 14.85%
• 5Y*: 11.50%
• 10Y*: 13.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HSEF.L vs. HMWD.L - Expense Ratio Comparison

HSEF.L has a 0.18% expense ratio, which is higher than HMWD.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

HSEF.L

HSBC Emerging Market Sustainable Equity UCITS ETF USD

HMWD.L

HSBC MSCI World UCITS ETF

Return for Risk

HSEF.L vs. HMWD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HSEF.L

HSEF.L Risk / Return Rank: 76
HSEF.L Sharpe Ratio Rank: 78
HSEF.L Sortino Ratio Rank: 73
HSEF.L Omega Ratio Rank: 73
HSEF.L Calmar Ratio Rank: 82
HSEF.L Martin Ratio Rank: 72

HMWD.L

HMWD.L Risk / Return Rank: 73
HMWD.L Sharpe Ratio Rank: 70
HMWD.L Sortino Ratio Rank: 70
HMWD.L Omega Ratio Rank: 69
HMWD.L Calmar Ratio Rank: 76
HMWD.L Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HSEF.L vs. HMWD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Emerging Market Sustainable Equity UCITS ETF USD (HSEF.L) and HSBC MSCI World UCITS ETF (HMWD.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HSEF.L	HMWD.L	Difference
Sharpe ratio Return per unit of total volatility	1.52	1.14	+0.38
Sortino ratio Return per unit of downside risk	1.95	1.62	+0.34
Omega ratio Gain probability vs. loss probability	1.29	1.23	+0.05
Calmar ratio Return relative to maximum drawdown	2.59	2.66	-0.07
Martin ratio Return relative to average drawdown	8.30	9.48	-1.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HSEF.L vs. HMWD.L - Sharpe Ratio Comparison

The current HSEF.L Sharpe Ratio is 1.52, which is higher than the HMWD.L Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of HSEF.L and HMWD.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HSEF.L	HMWD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	1.14	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.80	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.79	-0.30

Correlation

The correlation between HSEF.L and HMWD.L is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HSEF.L vs. HMWD.L - Dividend Comparison

HSEF.L has not paid dividends to shareholders, while HMWD.L's dividend yield for the trailing twelve months is around 1.29%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HSEF.L HSBC Emerging Market Sustainable Equity UCITS ETF USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HMWD.L HSBC MSCI World UCITS ETF	1.29%	1.24%	1.43%	1.57%	1.79%	1.31%	1.44%	1.91%	2.23%	1.81%	2.00%	1.93%

Drawdowns

HSEF.L vs. HMWD.L - Drawdown Comparison

The maximum HSEF.L drawdown since its inception was -23.33%, smaller than the maximum HMWD.L drawdown of -26.10%. Use the drawdown chart below to compare losses from any high point for HSEF.L and HMWD.L.

Drawdown Indicators

	HSEF.L	HMWD.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.33%	-34.03%	+10.70%
Max Drawdown (1Y) Largest decline over 1 year	-11.51%	-12.18%	+0.67%
Max Drawdown (5Y) Largest decline over 5 years	-19.36%	-26.00%	+6.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.03%	—
Current Drawdown Current decline from peak	-6.02%	-5.25%	-0.77%
Average Drawdown Average peak-to-trough decline	-9.54%	-4.61%	-4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	2.11%	+0.91%

Volatility

HSEF.L vs. HMWD.L - Volatility Comparison

HSBC Emerging Market Sustainable Equity UCITS ETF USD (HSEF.L) and HSBC MSCI World UCITS ETF (HMWD.L) have volatilities of 5.48% and 5.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSEF.L	HMWD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	5.41%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	9.06%	+2.46%
Volatility (1Y) Calculated over the trailing 1-year period	16.17%	15.15%	+1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	14.39%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.64%	15.47%	+0.17%