HWWA.L vs. H4ZF.DE
HWWA.L (HSBC Multi Factor Worldwide Equity UCITS ETF) and H4ZF.DE (HSBC S&P 500 UCITS ETF USD) are both exchange-traded funds - HWWA.L is a Global Equities fund tracking the MSCI ACWI NR USD, while H4ZF.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, HWWA.L returned 13.22%/yr vs 16.92%/yr for H4ZF.DE. Their correlation of 0.85 suggests significant overlap in exposure. HWWA.L charges 0.25%/yr vs 0.09%/yr for H4ZF.DE.
Performance
HWWA.L vs. H4ZF.DE - Performance Comparison
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Different Trading Currencies
HWWA.L is traded in GBP, while H4ZF.DE is traded in EUR. To make them comparable, the H4ZF.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HWWA.L achieves a 13.69% return, which is significantly higher than H4ZF.DE's 10.47% return. Over the past 10 years, HWWA.L has underperformed H4ZF.DE with an annualized return of 13.22%, while H4ZF.DE has yielded a comparatively higher 16.92% annualized return.
HWWA.L
- 1D
- -0.33%
- 1M
- 5.53%
- YTD
- 13.69%
- 6M
- 14.69%
- 1Y
- 34.30%
- 3Y*
- 19.39%
- 5Y*
- 12.99%
- 10Y*
- 13.22%
H4ZF.DE
- 1D
- -0.00%
- 1M
- 5.45%
- YTD
- 10.47%
- 6M
- 10.31%
- 1Y
- 28.99%
- 3Y*
- 19.05%
- 5Y*
- 14.91%
- 10Y*
- 16.92%
HWWA.L vs. H4ZF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HWWA.L HSBC Multi Factor Worldwide Equity UCITS ETF | 13.69% | 16.74% | 17.83% | 15.71% | -7.83% | 21.70% | 11.03% | 18.57% | -5.55% | 12.89% |
H4ZF.DE HSBC S&P 500 UCITS ETF USD | 10.47% | 10.19% | 26.48% | 20.21% | -9.71% | 30.75% | 14.03% | 29.86% | 2.21% | 13.29% |
Correlation
The correlation between HWWA.L and H4ZF.DE is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2014 | 0.85 |
The correlation between HWWA.L and H4ZF.DE has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.
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Return for Risk
HWWA.L vs. H4ZF.DE — Risk / Return Rank
HWWA.L
H4ZF.DE
HWWA.L vs. H4ZF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Multi Factor Worldwide Equity UCITS ETF (HWWA.L) and HSBC S&P 500 UCITS ETF USD (H4ZF.DE). 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.
| HWWA.L | H4ZF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.47 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 5.06 | 4.05 | +1.01 |
| Martin ratioReturn relative to average drawdown | 21.35 | 14.58 | +6.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HWWA.L | H4ZF.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.34 | 2.59 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | 1.00 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.92 | 1.05 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 1.05 | -0.21 |
Drawdowns
HWWA.L vs. H4ZF.DE - Drawdown Comparison
The maximum HWWA.L drawdown since its inception was -25.12%, roughly equal to the maximum H4ZF.DE drawdown of -26.42%. Use the drawdown chart below to compare losses from any high point for HWWA.L and H4ZF.DE.
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Drawdown Indicators
| HWWA.L | H4ZF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.12% | -26.42% | +1.30% |
Max Drawdown (1Y)Largest decline over 1 year | -6.74% | -7.12% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -16.79% | -22.02% | +5.23% |
Max Drawdown (5Y)Largest decline over 5 years | -16.79% | -22.02% | +5.23% |
Max Drawdown (10Y)Largest decline over 10 years | -25.12% | -26.42% | +1.30% |
Current DrawdownCurrent decline from peak | -0.35% | -0.24% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -3.53% | -3.22% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.98% | -0.38% |
Volatility
HWWA.L vs. H4ZF.DE - Volatility Comparison
HSBC Multi Factor Worldwide Equity UCITS ETF (HWWA.L) has a higher volatility of 3.48% compared to HSBC S&P 500 UCITS ETF USD (H4ZF.DE) at 3.06%. This indicates that HWWA.L's price experiences larger fluctuations and is considered to be riskier than H4ZF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HWWA.L | H4ZF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 3.06% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 7.85% | 7.46% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.23% | 11.16% | -0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 14.77% | -2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.32% | 16.01% | -1.69% |
HWWA.L vs. H4ZF.DE - Expense Ratio Comparison
HWWA.L has a 0.25% expense ratio, which is higher than H4ZF.DE's 0.09% 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
HWWA.L vs. H4ZF.DE - Dividend Comparison
HWWA.L's dividend yield for the trailing twelve months is around 1.29%, more than H4ZF.DE's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZF.DE HSBC S&P 500 UCITS ETF USD | 0.82% | 0.95% | 0.96% | 1.19% | 1.32% | 0.91% | 2.24% | 2.98% | 3.49% | 3.23% | 3.29% | 4.21% |
HWWA.L HSBC Multi Factor Worldwide Equity UCITS ETF | 1.29% | 1.43% | 1.58% | 1.95% | 2.07% | 1.48% | 1.45% | 2.07% | 2.10% | 1.86% | 1.71% | 1.97% |
Frequently Asked Questions
HWWA.L and H4ZF.DE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZF.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZF.DE is cheaper with a 0.09% expense ratio, compared with 0.25% for HWWA.L.
HWWA.L is categorized as Global Equities, while H4ZF.DE is S&P 500. HWWA.L tracks MSCI ACWI NR USD, while H4ZF.DE tracks S&P 500 Index. Their fees differ too: 0.25% for HWWA.L and 0.09% for H4ZF.DE.
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