HSWD.L vs. SPXS.L
HSWD.L (HSBC Developed World Screened Equity UCITS ETF) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - HSWD.L tracks the HSBC Developed World Screened Equity UCITS ETF while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 5 years, HSWD.L returned 11.43%/yr vs -54.94%/yr for SPXS.L. Their correlation of 0.94 suggests significant overlap in exposure. HSWD.L charges 0.18%/yr vs 0.05%/yr for SPXS.L.
Performance
HSWD.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, HSWD.L achieves a 12.86% return, which is significantly higher than SPXS.L's 10.20% return.
HSWD.L
- 1D
- -0.07%
- 1M
- -0.43%
- 6M
- 12.22%
- YTD
- 12.86%
- 1Y
- 26.96%
- 3Y*
- 19.12%
- 5Y*
- 11.43%
- 10Y*
- —
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
HSWD.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSWD.L HSBC Developed World Screened Equity UCITS ETF | 12.86% | 23.75% | 14.96% | 20.26% | -16.99% | 22.28% | 19.10% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 19.65% |
Correlation
The correlation between HSWD.L and SPXS.L is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2020 | 0.94 |
The correlation between HSWD.L and SPXS.L has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.
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Return for Risk
HSWD.L vs. SPXS.L — Risk / Return Rank
HSWD.L
SPXS.L
HSWD.L vs. SPXS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Developed World Screened Equity UCITS ETF (HSWD.L) and Invesco S&P 500 UCITS ETF (SPXS.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.
| HSWD.L | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.23 | ||
| Sortino ratioReturn per unit of downside risk | +4.11 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.52 | +0.90 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | -1.00 | +4.16 |
| Martin ratioReturn relative to average drawdown | 12.64 | -1.23 | +13.87 |
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Drawdowns
HSWD.L vs. SPXS.L - Drawdown Comparison
The maximum HSWD.L drawdown since its inception was -26.20%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for HSWD.L and SPXS.L.
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Drawdown Indicators
| HSWD.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.20% | -99.07% | +72.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.52% | -99.07% | +90.55% |
Max Drawdown (3Y)Largest decline over 3 years | -16.28% | -99.07% | +82.79% |
Max Drawdown (5Y)Largest decline over 5 years | -26.20% | -99.07% | +72.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.07% | — |
Current DrawdownCurrent decline from peak | -0.60% | -98.90% | +98.30% |
Average DrawdownAverage peak-to-trough decline | -5.03% | -7.67% | +2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 80.57% | -78.43% |
Volatility
HSWD.L vs. SPXS.L - Volatility Comparison
HSBC Developed World Screened Equity UCITS ETF (HSWD.L) has a higher volatility of 2.93% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that HSWD.L's price experiences larger fluctuations and is considered to be riskier than SPXS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSWD.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 2.73% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.08% | 9.24% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.05% | 99.43% | -87.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.96% | 47.13% | -32.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.86% | 35.27% | -20.41% |
HSWD.L vs. SPXS.L - Expense Ratio Comparison
HSWD.L has a 0.18% expense ratio, which is higher than SPXS.L's 0.05% 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%.
Dividends
HSWD.L vs. SPXS.L - Dividend Comparison
Neither HSWD.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
HSWD.L and SPXS.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.18% for HSWD.L.
HSWD.L tracks HSBC Developed World Screened Equity UCITS ETF, while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: HSBC and Invesco. Their fees differ too: 0.18% for HSWD.L and 0.05% for SPXS.L.
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