HWWA.L vs. LGGG.L

Last updated Jul 7, 2026

HWWA.L (HSBC Multi Factor Worldwide Equity UCITS ETF) and LGGG.L (L&G Global Equity UCITS ETF) are both Global Equities funds tracking the MSCI ACWI NR USD, from HSBC and Legal & General respectively. Both are passively managed. Over the past 5 years, HWWA.L returned 12.10%/yr vs 12.33%/yr for LGGG.L. With a 0.95 correlation, they move nearly in lockstep. HWWA.L charges 0.25%/yr vs 0.10%/yr for LGGG.L.

Performance

HWWA.L vs. LGGG.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 L&G Global Equity UCITS ETF (LGGG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HWWA.L is traded in GBP, while LGGG.L is traded in GBp. To make them comparable, the LGGG.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 13.80% return, which is significantly higher than LGGG.L's 10.88% return.

HWWA.L

• 1D: 0.32%
• 1M: 1.29%
• 6M: 13.19%
• YTD: 13.80%
• 1Y: 30.23%
• 3Y*: 19.93%
• 5Y*: 12.10%
• 10Y*: 12.31%

LGGG.L

• 1D: 0.25%
• 1M: 1.39%
• 6M: 10.48%
• YTD: 10.88%
• 1Y: 24.48%
• 3Y*: 18.61%
• 5Y*: 12.33%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HWWA.L HSBC Multi Factor Worldwide Equity UCITS ETF	13.80%	16.74%	17.80%	15.75%	-7.86%	21.74%	10.98%	18.58%	-6.04%
LGGG.L L&G Global Equity UCITS ETF	10.88%	12.92%	21.13%	18.08%	-8.24%	23.53%	12.41%	22.99%	-27.80%

Correlation

The correlation between HWWA.L and LGGG.L is 0.93, 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	0.93
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 Nov 9, 2018	0.95

The correlation between HWWA.L and LGGG.L has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

HWWA.L vs. LGGG.L - Sectors Allocation Comparison

Sectors	HWWA.L	LGGG.L
Technology	34.6%	31.5%
Financial Services	17.1%	15.2%
Industrials	12.8%	10.5%
Communication Services	7.7%	9.2%
Consumer Cyclical	6.7%	9.4%
Basic Materials	5.7%	3.2%
Healthcare	5.6%	8.6%
Energy	3.9%	3.6%
Utilities	2.4%	2.3%
Consumer Defensive	2.1%	4.9%
Real Estate	1.4%	1.7%

Return for Risk

HWWA.L vs. LGGG.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: 92
HWWA.L Sharpe Ratio Rank: 93
HWWA.L Sortino Ratio Rank: 93
HWWA.L Omega Ratio Rank: 93
HWWA.L Calmar Ratio Rank: 90
HWWA.L Martin Ratio Rank: 92

LGGG.L

LGGG.L Risk / Return Rank: 86
LGGG.L Sharpe Ratio Rank: 88
LGGG.L Sortino Ratio Rank: 87
LGGG.L Omega Ratio Rank: 88
LGGG.L Calmar Ratio Rank: 83
LGGG.L Martin Ratio Rank: 85

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. LGGG.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 L&G Global Equity UCITS ETF (LGGG.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.

	HWWA.L	LGGG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.77	2.34	+0.44
Sortino ratio: Return per unit of downside risk	3.78	3.25	+0.53
Omega ratio: Gain probability vs. loss probability	1.52	1.44	+0.08
Calmar ratio: Return relative to maximum drawdown	4.45	3.65	+0.80
Martin ratio: Return relative to average drawdown	17.94	14.24	+3.71

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

The current HWWA.L Sharpe Ratio is 2.77, which is comparable to the LGGG.L Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of HWWA.L and LGGG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HWWA.L vs. LGGG.L - Drawdown Comparison

The maximum HWWA.L drawdown since its inception was -25.15%, smaller than the maximum LGGG.L drawdown of -30.19%. Use the drawdown chart below to compare losses from any high point for HWWA.L and LGGG.L.

Drawdown Indicators

	HWWA.L	LGGG.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.15%	-30.19%	+5.04%
Max Drawdown (1Y) Largest decline over 1 year	-6.76%	-6.67%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-16.79%	-19.95%	+3.16%
Max Drawdown (5Y) Largest decline over 5 years	-16.79%	-19.95%	+3.16%
Max Drawdown (10Y) Largest decline over 10 years	-25.15%	—	—
Current Drawdown Current decline from peak	-1.35%	-0.27%	-1.08%
Average Drawdown Average peak-to-trough decline	-3.51%	-7.15%	+3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.72%	-0.04%

Volatility

HWWA.L vs. LGGG.L - Volatility Comparison

HSBC Multi Factor Worldwide Equity UCITS ETF (HWWA.L) has a higher volatility of 4.15% compared to L&G Global Equity UCITS ETF (LGGG.L) at 3.32%. This indicates that HWWA.L's price experiences larger fluctuations and is considered to be riskier than LGGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWWA.L	LGGG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	3.32%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	7.80%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	10.87%	10.45%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.80%	19.13%	-6.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.28%	20.33%	-6.05%

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

HWWA.L has a 0.25% expense ratio, which is higher than LGGG.L's 0.10% 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. LGGG.L - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
LGGG.L L&G Global 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

Can I hold both HWWA.L and LGGG.L in my portfolio?

With a correlation of 0.93, HWWA.L and LGGG.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.

Which ETF is better, HWWA.L or LGGG.L?

On fees, LGGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HWWA.L or LGGG.L?

LGGG.L is cheaper with a 0.10% expense ratio, compared with 0.25% for HWWA.L.

What is the main difference between HWWA.L and LGGG.L?

Both ETFs track MSCI ACWI NR USD. They also come from different issuers: HSBC and Legal & General. Their fees differ too: 0.25% for HWWA.L and 0.10% for LGGG.L.