HWWD.L vs. IQCY.L

Last updated Jun 5, 2026

HWWD.L (HSBC Multi Factor Worldwide Equity UCITS ETF) and IQCY.L (Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc) are both Global Equities funds - HWWD.L tracks the MSCI ACWI NR USD while IQCY.L tracks the MSCI ACWI SMID NR USD. Both are passively managed. Over the past 5 years, HWWD.L returned 11.75%/yr vs 47.23%/yr for IQCY.L. Their correlation of 0.85 suggests significant overlap in exposure. HWWD.L charges 0.25%/yr vs 0.45%/yr for IQCY.L.

Performance

HWWD.L vs. IQCY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC Multi Factor Worldwide Equity UCITS ETF (HWWD.L) and Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HWWD.L is traded in USD, while IQCY.L is traded in GBP. To make them comparable, the IQCY.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HWWD.L achieves a 13.55% return, which is significantly lower than IQCY.L's 29.87% return.

HWWD.L

• 1D: -0.27%
• 1M: 4.11%
• YTD: 13.55%
• 6M: 15.30%
• 1Y: 33.07%
• 3Y*: 22.56%
• 5Y*: 11.75%
• 10Y*: 12.39%

IQCY.L

• 1D: -1.30%
• 1M: 10.17%
• YTD: 29.87%
• 6M: 29.24%
• 1Y: 48.58%
• 3Y*: 97.15%
• 5Y*: 47.23%
• 10Y*: —

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

HWWD.L vs. IQCY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HWWD.L HSBC Multi Factor Worldwide Equity UCITS ETF	13.55%	25.22%	15.99%	22.41%	-17.65%	20.14%	32.35%
IQCY.L Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc	29.87%	22.73%	335.49%	23.99%	-25.83%	16.67%	45.75%

Correlation

The correlation between HWWD.L and IQCY.L is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 1, 2020	0.85

The correlation between HWWD.L and IQCY.L has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

HWWD.L vs. IQCY.L - Sectors Allocation Comparison

Sectors	HWWD.L	IQCY.L
Technology	33.9%	45.0%
Financial Services	15.2%	0.5%
Industrials	11.7%	46.5%
Communication Services	8.3%	2.7%
Consumer Cyclical	8.0%	0.7%
Basic Materials	5.8%	1.4%
Healthcare	5.4%	0.1%
Energy	4.3%	0.0%
Utilities	3.4%	3.2%
Consumer Defensive	2.2%	0.0%
Real Estate	1.4%	0.0%

Return for Risk

HWWD.L vs. IQCY.L — Risk / Return Rank

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

HWWD.L

HWWD.L Risk / Return Rank: 82
HWWD.L Sharpe Ratio Rank: 83
HWWD.L Sortino Ratio Rank: 87
HWWD.L Omega Ratio Rank: 83
HWWD.L Calmar Ratio Rank: 77
HWWD.L Martin Ratio Rank: 82

IQCY.L

IQCY.L Risk / Return Rank: 88
IQCY.L Sharpe Ratio Rank: 91
IQCY.L Sortino Ratio Rank: 91
IQCY.L Omega Ratio Rank: 88
IQCY.L Calmar Ratio Rank: 89
IQCY.L Martin Ratio Rank: 81

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.

HWWD.L vs. IQCY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Multi Factor Worldwide Equity UCITS ETF (HWWD.L) and Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.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.

	HWWD.L	IQCY.L	Difference
Sharpe ratio: Return per unit of total volatility	2.67	2.72	-0.06
Sortino ratio: Return per unit of downside risk	3.86	3.87	-0.01
Omega ratio: Gain probability vs. loss probability	1.49	1.47	+0.02
Calmar ratio: Return relative to maximum drawdown	3.85	4.28	-0.43
Martin ratio: Return relative to average drawdown	16.09	15.40	+0.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWWD.L vs. IQCY.L - Sharpe Ratio Comparison

The current HWWD.L Sharpe Ratio is 2.67, which is comparable to the IQCY.L Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of HWWD.L and IQCY.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.

Sharpe Ratios by Period

	HWWD.L	IQCY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.67	2.72	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.36	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.40	+0.25

Drawdowns

HWWD.L vs. IQCY.L - Drawdown Comparison

The maximum HWWD.L drawdown since its inception was -33.76%, roughly equal to the maximum IQCY.L drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for HWWD.L and IQCY.L.

Drawdown Indicators

	HWWD.L	IQCY.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.76%	-33.10%	-0.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-11.31%	+2.76%
Max Drawdown (3Y) Largest decline over 3 years	-15.36%	-20.87%	+5.51%
Max Drawdown (5Y) Largest decline over 5 years	-26.22%	-33.10%	+6.88%
Max Drawdown (10Y) Largest decline over 10 years	-33.76%	—	—
Current Drawdown Current decline from peak	-0.61%	-1.30%	+0.69%
Average Drawdown Average peak-to-trough decline	-5.37%	-8.49%	+3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	3.14%	-1.09%

Volatility

HWWD.L vs. IQCY.L - Volatility Comparison

The current volatility for HSBC Multi Factor Worldwide Equity UCITS ETF (HWWD.L) is 4.47%, while Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.L) has a volatility of 6.81%. This indicates that HWWD.L experiences smaller price fluctuations and is considered to be less risky than IQCY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWWD.L	IQCY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	6.81%	-2.34%
Volatility (6M) Calculated over the trailing 6-month period	10.03%	13.92%	-3.89%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	17.79%	-5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.27%	132.45%	-117.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.68%	120.45%	-104.77%

HWWD.L vs. IQCY.L - Expense Ratio Comparison

HWWD.L has a 0.25% expense ratio, which is lower than IQCY.L's 0.45% expense ratio.

Dividends

HWWD.L vs. IQCY.L - Dividend Comparison

HWWD.L's dividend yield for the trailing twelve months is around 1.30%, while IQCY.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWWD.L HSBC Multi Factor Worldwide Equity UCITS ETF	1.30%	1.41%	1.61%	1.90%	2.10%	1.52%	1.35%	2.00%	2.19%	1.76%	1.87%	2.04%
IQCY.L Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - 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

Can I hold both HWWD.L and IQCY.L in my portfolio?

HWWD.L and IQCY.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HWWD.L or IQCY.L?

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

Which ETF is cheaper, HWWD.L or IQCY.L?

HWWD.L is cheaper with a 0.25% expense ratio, compared with 0.45% for IQCY.L.

What is the main difference between HWWD.L and IQCY.L?

HWWD.L tracks MSCI ACWI NR USD, while IQCY.L tracks MSCI ACWI SMID NR USD. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.25% for HWWD.L and 0.45% for IQCY.L.