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HWWD.L vs. IWVG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HWWD.L vs. IWVG.L

Last updated Jun 5, 2026

HWWD.L (HSBC Multi Factor Worldwide Equity UCITS ETF) and IWVG.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) are both Global Equities funds - HWWD.L tracks the MSCI ACWI NR USD while IWVG.L tracks the MSCI ACWI Value NR USD. Both are passively managed. Over the past 5 years, HWWD.L returned 11.75%/yr vs 15.31%/yr for IWVG.L. Their correlation of 0.82 suggests significant overlap in exposure. HWWD.L charges 0.25%/yr vs 0.30%/yr for IWVG.L.

Performance

HWWD.L vs. IWVG.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 iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HWWD.L is traded in USD, while IWVG.L is traded in GBP. To make them comparable, the IWVG.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 IWVG.L's 34.02% 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%

IWVG.L

1D
-0.57%
1M
12.07%
YTD
34.02%
6M
36.95%
1Y
61.59%
3Y*
28.51%
5Y*
15.31%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
HWWD.L
HSBC Multi Factor Worldwide Equity UCITS ETF		13.55%25.22%15.99%22.41%-17.65%20.14%14.94%22.38%-13.55%
IWVG.L
iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)		34.02%37.12%3.45%19.01%-9.76%20.37%-3.98%19.05%-16.16%

Correlation

The correlation between HWWD.L and IWVG.L is 0.80, 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

0.80

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

0.79

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

0.82

Correlation (All Time)
Calculated using the full available price history since Feb 28, 2018

0.83

The correlation between HWWD.L and IWVG.L has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

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

Sectors
HWWD.L
IWVG.L

Technology

33.9%
33.9%

Financial Services

15.2%
14.8%

Industrials

11.7%
11.3%

Communication Services

8.3%
7.6%

Consumer Cyclical

8.0%
7.9%

Basic Materials

5.8%
3.0%

Healthcare

5.4%
8.8%

Energy

4.3%
3.8%

Utilities

3.4%
2.5%

Consumer Defensive

2.2%
4.5%

Real Estate

1.4%
1.8%

Technology

HWWD.L
33.9%
IWVG.L
33.9%

Financial Services

HWWD.L
15.2%
IWVG.L
14.8%

Industrials

HWWD.L
11.7%
IWVG.L
11.3%

Communication Services

HWWD.L
8.3%
IWVG.L
7.6%

Consumer Cyclical

HWWD.L
8.0%
IWVG.L
7.9%

Basic Materials

HWWD.L
5.8%
IWVG.L
3.0%

Healthcare

HWWD.L
5.4%
IWVG.L
8.8%

Energy

HWWD.L
4.3%
IWVG.L
3.8%

Utilities

HWWD.L
3.4%
IWVG.L
2.5%

Consumer Defensive

HWWD.L
2.2%
IWVG.L
4.5%

Real Estate

HWWD.L
1.4%
IWVG.L
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC Multi Factor Worldwide Equity UCITS ETF

iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)

Often compared with HWWD.L:
HWWD.L vs. IFSW.LHWWD.L vs. GERD.DEHWWD.L vs. VUSA.LHWWD.L vs. HMUD.LHWWD.L vs. HUKX.LHWWD.L vs. MVOL.LHWWD.L vs. MWRD.L
Often compared with IWVG.L:
IWVG.L vs. IWQU.LIWVG.L vs. VTVIWVG.L vs. XDEV.LIWVG.L vs. URTHIWVG.L vs. VTIWVG.L vs. VWRA.LIWVG.L vs. IUVD.L

Return for Risk

HWWD.L vs. IWVG.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: 8282
Overall Rank
HWWD.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
HWWD.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
HWWD.L Omega Ratio Rank: 8383
Omega Ratio Rank
HWWD.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
HWWD.L Martin Ratio Rank: 8282
Martin Ratio Rank
IWVG.L
IWVG.L Risk / Return Rank: 9696
Overall Rank
IWVG.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
IWVG.L Sortino Ratio Rank: 9797
Sortino Ratio Rank
IWVG.L Omega Ratio Rank: 9797
Omega Ratio Rank
IWVG.L Calmar Ratio Rank: 9696
Calmar Ratio Rank
IWVG.L Martin Ratio Rank: 9696
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.

HWWD.L vs. IWVG.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 iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.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.LIWVG.LDifference
Sharpe ratioReturn per unit of total volatility
2.67
4.13

-1.47

Sortino ratioReturn per unit of downside risk
3.86
5.65

-1.79

Omega ratioGain probability vs. loss probability

1.49

1.73

-0.24

Calmar ratioReturn relative to maximum drawdown

3.85

7.09

-3.24

Martin ratioReturn relative to average drawdown

16.09

26.95

-10.86

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. IWVG.L - Sharpe Ratio Comparison

The current HWWD.L Sharpe Ratio is 2.67, which is lower than the IWVG.L Sharpe Ratio of 4.13. The chart below compares the historical Sharpe Ratios of HWWD.L and IWVG.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

HWWD.LIWVG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.67

4.13

-1.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

0.97

-0.21

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

0.62

+0.02

Drawdowns

HWWD.L vs. IWVG.L - Drawdown Comparison

The maximum HWWD.L drawdown since its inception was -33.76%, smaller than the maximum IWVG.L drawdown of -35.72%. Use the drawdown chart below to compare losses from any high point for HWWD.L and IWVG.L.

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Drawdown Indicators

HWWD.LIWVG.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.76%

-35.72%

+1.96%

Max Drawdown (1Y)

Largest decline over 1 year

-8.55%

-8.65%

+0.10%

Max Drawdown (3Y)

Largest decline over 3 years

-15.36%

-14.52%

-0.84%

Max Drawdown (5Y)

Largest decline over 5 years

-26.22%

-26.90%

+0.68%

Max Drawdown (10Y)

Largest decline over 10 years

-33.76%

—

—

Current Drawdown

Current decline from peak

-0.61%

-0.82%

+0.21%

Average Drawdown

Average peak-to-trough decline

-5.37%

-6.70%

+1.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.05%

2.28%

-0.23%

Volatility

HWWD.L vs. IWVG.L - Volatility Comparison

The current volatility for HSBC Multi Factor Worldwide Equity UCITS ETF (HWWD.L) is 4.47%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) has a volatility of 6.04%. This indicates that HWWD.L experiences smaller price fluctuations and is considered to be less risky than IWVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HWWD.LIWVG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

6.04%

-1.57%

Volatility (6M)

Calculated over the trailing 6-month period

10.03%

11.94%

-1.91%

Volatility (1Y)

Calculated over the trailing 1-year period

12.35%

14.82%

-2.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.27%

15.70%

-0.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.68%

17.58%

-1.90%

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

HWWD.L has a 0.25% expense ratio, which is lower than IWVG.L's 0.30% expense ratio.

Dividends

HWWD.L vs. IWVG.L - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
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%
IWVG.L
iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)		0.00%0.00%1.82%3.23%3.12%2.61%2.37%2.90%2.48%0.00%0.00%0.00%

Frequently Asked Questions

HWWD.L and IWVG.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

HWWD.L is cheaper with a 0.25% expense ratio, compared with 0.30% for IWVG.L.

HWWD.L tracks MSCI ACWI NR USD, while IWVG.L tracks MSCI ACWI Value NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.25% for HWWD.L and 0.30% for IWVG.L.

Portfolio Optimizer

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