HWWA.L vs. HMWO.L

Last updated Apr 3, 2026

Compare and contrast key facts about HSBC Multi Factor Worldwide Equity UCITS ETF (HWWA.L) and HSBC MSCI World UCITS ETF (HMWO.L).

HWWA.L and HMWO.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HWWA.L is a passively managed fund by HSBC that tracks the performance of the MSCI ACWI NR USD. It was launched on Jul 4, 2014. HMWO.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 HWWA.L and HMWO.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

HWWA.L vs. HMWO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC Multi Factor Worldwide Equity UCITS ETF (HWWA.L) and HSBC MSCI World UCITS ETF (HMWO.L). The values are adjusted to include any dividend payments, if applicable.

HWWA.L vs. HMWO.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HWWA.L HSBC Multi Factor Worldwide Equity UCITS ETF	1.11%	16.74%	17.83%	15.71%	-7.83%	21.70%	11.03%	18.57%	-5.55%	12.89%
HMWO.L HSBC MSCI World UCITS ETF	-1.17%	12.63%	21.17%	17.80%	-8.47%	23.98%	12.48%	23.41%	-3.61%	12.05%

Different Trading Currencies

HWWA.L is traded in GBP, while HMWO.L is traded in GBp. To make them comparable, the HMWO.L 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 1.11% return, which is significantly higher than HMWO.L's -1.17% return. Over the past 10 years, HWWA.L has underperformed HMWO.L with an annualized return of 12.17%, while HMWO.L has yielded a comparatively higher 13.08% annualized return.

HWWA.L

• 1D: 0.02%
• 1M: -1.57%
• YTD: 1.11%
• 6M: 5.92%
• 1Y: 21.69%
• 3Y*: 15.50%
• 5Y*: 11.19%
• 10Y*: 12.17%

HMWO.L

• 1D: 0.18%
• 1M: -1.69%
• YTD: -1.17%
• 6M: 1.78%
• 1Y: 17.03%
• 3Y*: 14.78%
• 5Y*: 11.46%
• 10Y*: 13.08%

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

HWWA.L vs. HMWO.L - Expense Ratio Comparison

HWWA.L has a 0.25% expense ratio, which is higher than HMWO.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%.

HWWA.L

HSBC Multi Factor Worldwide Equity UCITS ETF

HMWO.L

HSBC MSCI World UCITS ETF

Return for Risk

HWWA.L vs. HMWO.L — Risk / Return Rank

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

HWWA.L

HWWA.L Risk / Return Rank: 85
HWWA.L Sharpe Ratio Rank: 80
HWWA.L Sortino Ratio Rank: 78
HWWA.L Omega Ratio Rank: 80
HWWA.L Calmar Ratio Rank: 93
HWWA.L Martin Ratio Rank: 95

HMWO.L

HMWO.L Risk / Return Rank: 73
HMWO.L Sharpe Ratio Rank: 62
HMWO.L Sortino Ratio Rank: 61
HMWO.L Omega Ratio Rank: 63
HMWO.L Calmar Ratio Rank: 90
HMWO.L Martin Ratio Rank: 91

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.

HWWA.L vs. HMWO.L - 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 MSCI World UCITS ETF (HMWO.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.

	HWWA.L	HMWO.L	Difference
Sharpe ratio Return per unit of total volatility	1.58	1.17	+0.41
Sortino ratio Return per unit of downside risk	2.13	1.66	+0.47
Omega ratio Gain probability vs. loss probability	1.33	1.25	+0.08
Calmar ratio Return relative to maximum drawdown	4.06	3.42	+0.64
Martin ratio Return relative to average drawdown	16.87	13.39	+3.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWWA.L vs. HMWO.L - Sharpe Ratio Comparison

The current HWWA.L Sharpe Ratio is 1.58, which is higher than the HMWO.L Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of HWWA.L and HMWO.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

	HWWA.L	HMWO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	1.17	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.86	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.90	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.81	-0.04

Correlation

The correlation between HWWA.L and HMWO.L is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HWWA.L vs. HMWO.L - Dividend Comparison

HWWA.L's dividend yield for the trailing twelve months is around 1.42%, more than HMWO.L's 1.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWWA.L HSBC Multi Factor Worldwide Equity UCITS ETF	1.42%	1.43%	1.58%	1.95%	2.07%	1.48%	1.45%	2.07%	2.10%	1.86%	1.71%	1.97%
HMWO.L HSBC MSCI World UCITS ETF	1.27%	1.26%	1.41%	1.60%	1.75%	1.27%	1.55%	1.97%	2.11%	1.91%	1.84%	1.86%

Drawdowns

HWWA.L vs. HMWO.L - Drawdown Comparison

The maximum HWWA.L drawdown since its inception was -25.12%, roughly equal to the maximum HMWO.L drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for HWWA.L and HMWO.L.

Drawdown Indicators

	HWWA.L	HMWO.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.12%	-25.48%	+0.36%
Max Drawdown (1Y) Largest decline over 1 year	-6.74%	-6.55%	-0.19%
Max Drawdown (5Y) Largest decline over 5 years	-16.79%	-18.80%	+2.01%
Max Drawdown (10Y) Largest decline over 10 years	-25.12%	-25.48%	+0.36%
Current Drawdown Current decline from peak	-3.67%	-3.40%	-0.27%
Average Drawdown Average peak-to-trough decline	-3.57%	-3.55%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	1.66%	-0.04%

Volatility

HWWA.L vs. HMWO.L - Volatility Comparison

HSBC Multi Factor Worldwide Equity UCITS ETF (HWWA.L) has a higher volatility of 4.36% compared to HSBC MSCI World UCITS ETF (HMWO.L) at 4.14%. This indicates that HWWA.L's price experiences larger fluctuations and is considered to be riskier than HMWO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWWA.L	HMWO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	4.14%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	8.03%	8.23%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	14.44%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.69%	13.32%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.32%	14.44%	-0.12%