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HWWA.L vs. WMVG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HWWA.L vs. WMVG.L

Last updated Jun 4, 2026

HWWA.L (HSBC Multi Factor Worldwide Equity UCITS ETF) and WMVG.L (iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc)) are both Global Equities funds - HWWA.L tracks the MSCI ACWI NR USD while WMVG.L tracks the MSCI World Minimum Volatility. Both are passively managed. Over the past 5 years, HWWA.L returned 13.07%/yr vs 6.15%/yr for WMVG.L. A 0.63 correlation means they provide meaningful diversification when combined. HWWA.L charges 0.25%/yr vs 0.35%/yr for WMVG.L.

Performance

HWWA.L vs. WMVG.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 iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc) (WMVG.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HWWA.L achieves a 14.08% return, which is significantly higher than WMVG.L's 1.22% return.

HWWA.L

1D
-0.02%
1M
6.39%
YTD
14.08%
6M
15.66%
1Y
34.98%
3Y*
19.71%
5Y*
13.07%
10Y*
13.41%

WMVG.L

1D
0.06%
1M
0.30%
YTD
1.22%
6M
1.94%
1Y
2.85%
3Y*
9.88%
5Y*
6.15%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
HWWA.L
HSBC Multi Factor Worldwide Equity UCITS ETF		14.08%16.74%17.83%15.71%-7.83%21.70%11.03%12.03%
WMVG.L
iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc)		1.22%9.08%14.49%7.33%-8.31%16.96%-1.30%11.65%

Correlation

The correlation between HWWA.L and WMVG.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2019

0.63

Over the past year, the correlation between HWWA.L and WMVG.L has dropped to 0.28 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

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

Sectors
HWWA.L
WMVG.L

Technology

34.2%
20.1%

Financial Services

14.0%
14.0%

Industrials

13.2%
9.2%

Communication Services

8.4%
12.1%

Consumer Cyclical

8.3%
5.6%

Basic Materials

5.8%
1.1%

Healthcare

5.6%
13.8%

Energy

4.2%
4.5%

Utilities

2.5%
8.0%

Consumer Defensive

2.2%
10.9%

Real Estate

1.4%
0.7%

Technology

HWWA.L
34.2%
WMVG.L
20.1%

Financial Services

HWWA.L
14.0%
WMVG.L
14.0%

Industrials

HWWA.L
13.2%
WMVG.L
9.2%

Communication Services

HWWA.L
8.4%
WMVG.L
12.1%

Consumer Cyclical

HWWA.L
8.3%
WMVG.L
5.6%

Basic Materials

HWWA.L
5.8%
WMVG.L
1.1%

Healthcare

HWWA.L
5.6%
WMVG.L
13.8%

Energy

HWWA.L
4.2%
WMVG.L
4.5%

Utilities

HWWA.L
2.5%
WMVG.L
8.0%

Consumer Defensive

HWWA.L
2.2%
WMVG.L
10.9%

Real Estate

HWWA.L
1.4%
WMVG.L
0.7%

Compare stocks, funds, or ETFs

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HSBC Multi Factor Worldwide Equity UCITS ETF

iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc)

Often compared with HWWA.L:
HWWA.L vs. GERD.DEHWWA.L vs. JMOMHWWA.L vs. JPGL.LHWWA.L vs. MFDXHWWA.L vs. HMWO.LHWWA.L vs. IWFQ.LHWWA.L vs. IWDA.L
Often compared with WMVG.L:
WMVG.L vs. MVUS.LWMVG.L vs. PQVG.LWMVG.L vs. MINV.LWMVG.L vs. MVEW.LWMVG.L vs. VSCGXWMVG.L vs. AVGC.LWMVG.L vs. VHYD.L

Return for Risk

HWWA.L vs. WMVG.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: 9191
Overall Rank
HWWA.L Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
HWWA.L Sortino Ratio Rank: 9393
Sortino Ratio Rank
HWWA.L Omega Ratio Rank: 9393
Omega Ratio Rank
HWWA.L Calmar Ratio Rank: 8888
Calmar Ratio Rank
HWWA.L Martin Ratio Rank: 9191
Martin Ratio Rank
WMVG.L
WMVG.L Risk / Return Rank: 1515
Overall Rank
WMVG.L Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
WMVG.L Sortino Ratio Rank: 1414
Sortino Ratio Rank
WMVG.L Omega Ratio Rank: 1313
Omega Ratio Rank
WMVG.L Calmar Ratio Rank: 1616
Calmar Ratio Rank
WMVG.L Martin Ratio Rank: 1616
Martin Ratio Rank
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. WMVG.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 iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc) (WMVG.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.LWMVG.LDifference
Sharpe ratioReturn per unit of total volatility
3.41
0.39

+3.01

Sortino ratioReturn per unit of downside risk
4.64
0.59

+4.05

Omega ratioGain probability vs. loss probability

1.65

1.07

+0.58

Calmar ratioReturn relative to maximum drawdown

5.16

0.57

+4.59

Martin ratioReturn relative to average drawdown

21.78

1.42

+20.35

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. WMVG.L - Sharpe Ratio Comparison

The current HWWA.L Sharpe Ratio is 3.41, which is higher than the WMVG.L Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of HWWA.L and WMVG.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.

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Sharpe Ratios by Period

HWWA.LWMVG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.41

0.39

+3.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.62

+0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.93

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.84

0.55

+0.28

Drawdowns

HWWA.L vs. WMVG.L - Drawdown Comparison

The maximum HWWA.L drawdown since its inception was -25.12%, smaller than the maximum WMVG.L drawdown of -28.25%. Use the drawdown chart below to compare losses from any high point for HWWA.L and WMVG.L.

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Drawdown Indicators

HWWA.LWMVG.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.12%

-28.25%

+3.13%

Max Drawdown (1Y)

Largest decline over 1 year

-6.74%

-4.99%

-1.75%

Max Drawdown (3Y)

Largest decline over 3 years

-16.79%

-9.09%

-7.70%

Max Drawdown (5Y)

Largest decline over 5 years

-16.79%

-15.18%

-1.61%

Max Drawdown (10Y)

Largest decline over 10 years

-25.12%

—

—

Current Drawdown

Current decline from peak

-0.02%

-3.30%

+3.28%

Average Drawdown

Average peak-to-trough decline

-3.53%

-4.12%

+0.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.60%

2.00%

-0.40%

Volatility

HWWA.L vs. WMVG.L - Volatility Comparison

HSBC Multi Factor Worldwide Equity UCITS ETF (HWWA.L) has a higher volatility of 3.43% compared to iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc) (WMVG.L) at 2.29%. This indicates that HWWA.L's price experiences larger fluctuations and is considered to be riskier than WMVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HWWA.LWMVG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.43%

2.29%

+1.14%

Volatility (6M)

Calculated over the trailing 6-month period

7.84%

5.05%

+2.79%

Volatility (1Y)

Calculated over the trailing 1-year period

10.26%

7.21%

+3.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.69%

9.95%

+2.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.33%

12.14%

+2.19%

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

HWWA.L has a 0.25% expense ratio, which is lower than WMVG.L's 0.35% expense ratio.

Dividends

HWWA.L vs. WMVG.L - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
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%
WMVG.L
iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc)		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

HWWA.L and WMVG.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HWWA.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HWWA.L is cheaper with a 0.25% expense ratio, compared with 0.35% for WMVG.L.

HWWA.L tracks MSCI ACWI NR USD, while WMVG.L tracks MSCI World Minimum Volatility. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.25% for HWWA.L and 0.35% for WMVG.L.

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