HSUD.L vs. HMWD.L
HSUD.L (HSBC USA Screened Equity UCITS ETF) and HMWD.L (HSBC MSCI World UCITS ETF) are both Global Equities funds from HSBC - HSUD.L tracks the HSBC USA Screened Equity UCITS ETF while HMWD.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, HSUD.L returned 11.96%/yr vs 11.71%/yr for HMWD.L. Their correlation of 0.94 suggests significant overlap in exposure. HSUD.L charges 0.12%/yr vs 0.15%/yr for HMWD.L.
Performance
HSUD.L vs. HMWD.L - Performance Comparison
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Returns By Period
In the year-to-date period, HSUD.L achieves a 12.55% return, which is significantly higher than HMWD.L's 10.23% return.
HSUD.L
- 1D
- -0.08%
- 1M
- -1.37%
- 6M
- 12.89%
- YTD
- 12.55%
- 1Y
- 26.40%
- 3Y*
- 19.30%
- 5Y*
- 11.96%
- 10Y*
- —
HMWD.L
- 1D
- 0.10%
- 1M
- 0.20%
- 6M
- 9.06%
- YTD
- 10.23%
- 1Y
- 22.04%
- 3Y*
- 18.94%
- 5Y*
- 11.71%
- 10Y*
- 13.16%
HSUD.L vs. HMWD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSUD.L HSBC USA Screened Equity UCITS ETF | 12.55% | 18.98% | 19.90% | 21.64% | -17.56% | 28.13% | 20.16% |
HMWD.L HSBC MSCI World UCITS ETF | 10.23% | 21.06% | 19.12% | 24.61% | -18.25% | 22.44% | 22.06% |
Correlation
The correlation between HSUD.L and HMWD.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.94 |
The correlation between HSUD.L and HMWD.L has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
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Return for Risk
HSUD.L vs. HMWD.L — Risk / Return Rank
HSUD.L
HMWD.L
HSUD.L vs. HMWD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC USA Screened Equity UCITS ETF (HSUD.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HSUD.L | HMWD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.32 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 2.65 | +0.77 |
| Martin ratioReturn relative to average drawdown | 13.00 | 10.84 | +2.16 |
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Drawdowns
HSUD.L vs. HMWD.L - Drawdown Comparison
The maximum HSUD.L drawdown since its inception was -24.43%, smaller than the maximum HMWD.L drawdown of -34.01%. Use the drawdown chart below to compare losses from any high point for HSUD.L and HMWD.L.
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Drawdown Indicators
| HSUD.L | HMWD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.43% | -34.01% | +9.58% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -8.30% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -19.51% | -17.58% | -1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -24.43% | -25.99% | +1.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.01% | — |
Current DrawdownCurrent decline from peak | -1.54% | -0.10% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -5.09% | -4.75% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 2.03% | +0.02% |
Volatility
HSUD.L vs. HMWD.L - Volatility Comparison
HSBC USA Screened Equity UCITS ETF (HSUD.L) has a higher volatility of 3.25% compared to HSBC MSCI World UCITS ETF (HMWD.L) at 2.93%. This indicates that HSUD.L's price experiences larger fluctuations and is considered to be riskier than HMWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSUD.L | HMWD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 2.93% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 9.56% | 9.85% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.83% | 12.29% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 15.63% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 15.73% | -0.14% |
HSUD.L vs. HMWD.L - Expense Ratio Comparison
HSUD.L has a 0.12% expense ratio, which is lower than HMWD.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HSUD.L vs. HMWD.L - Dividend Comparison
HSUD.L has not paid dividends to shareholders, while HMWD.L's dividend yield for the trailing twelve months is around 1.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMWD.L HSBC MSCI World UCITS ETF | 1.17% | 1.24% | 1.43% | 1.57% | 1.79% | 1.31% | 1.44% | 1.91% | 2.23% | 1.81% | 2.00% | 1.93% |
HSUD.L HSBC USA Screened Equity UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, HSUD.L and HMWD.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HSUD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HSUD.L is cheaper with a 0.12% expense ratio, compared with 0.15% for HMWD.L.
HSUD.L tracks HSBC USA Screened Equity UCITS ETF, while HMWD.L tracks MSCI ACWI NR USD. Their fees differ too: 0.12% for HSUD.L and 0.15% for HMWD.L.
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