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

HWWD.L vs. IWVL.L

Last updated Jun 5, 2026

HWWD.L (HSBC Multi Factor Worldwide Equity UCITS ETF) and IWVL.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)) are both Global Equities funds - HWWD.L tracks the MSCI ACWI NR USD while IWVL.L tracks the MSCI World Enhanced Value Index. Both are passively managed. Over the past 10 years, HWWD.L returned 12.39%/yr vs 12.86%/yr for IWVL.L. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

HWWD.L vs. IWVL.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 (Acc) (IWVL.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, HWWD.L achieves a 13.55% return, which is significantly lower than IWVL.L's 34.30% return. Both investments have delivered pretty close results over the past 10 years, with HWWD.L having a 12.39% annualized return and IWVL.L not far ahead at 12.86%.

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%

IWVL.L

1D
-0.65%
1M
12.22%
YTD
34.30%
6M
38.21%
1Y
66.32%
3Y*
30.35%
5Y*
16.28%
10Y*
12.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%-10.70%23.96%
IWVL.L
iShares Edge MSCI World Value Factor UCITS ETF USD (Acc)		34.30%40.41%5.13%19.53%-9.79%20.11%-3.67%18.13%-14.03%22.60%

Correlation

The correlation between HWWD.L and IWVL.L is 0.85, 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

0.85

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

0.85

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

0.88

Correlation (10Y)
Calculated over the trailing 10-year period

0.87

Correlation (All Time)
Calculated using the full available price history since Oct 7, 2014

0.87

The correlation between HWWD.L and IWVL.L has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

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

Sectors
HWWD.L
IWVL.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%
IWVL.L
33.9%

Financial Services

HWWD.L
15.2%
IWVL.L
14.8%

Industrials

HWWD.L
11.7%
IWVL.L
11.3%

Communication Services

HWWD.L
8.3%
IWVL.L
7.6%

Consumer Cyclical

HWWD.L
8.0%
IWVL.L
7.9%

Basic Materials

HWWD.L
5.8%
IWVL.L
3.0%

Healthcare

HWWD.L
5.4%
IWVL.L
8.8%

Energy

HWWD.L
4.3%
IWVL.L
3.8%

Utilities

HWWD.L
3.4%
IWVL.L
2.5%

Consumer Defensive

HWWD.L
2.2%
IWVL.L
4.5%

Real Estate

HWWD.L
1.4%
IWVL.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 (Acc)

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Often compared with IWVL.L:
IWVL.L vs. VWRA.LIWVL.L vs. IWDA.ASIWVL.L vs. IWQU.LIWVL.L vs. DFIVIWVL.L vs. VOOIWVL.L vs. URTHIWVL.L vs. VT

Return for Risk

HWWD.L vs. IWVL.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
IWVL.L
IWVL.L Risk / Return Rank: 9595
Overall Rank
IWVL.L Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
IWVL.L Sortino Ratio Rank: 9797
Sortino Ratio Rank
IWVL.L Omega Ratio Rank: 9696
Omega Ratio Rank
IWVL.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
IWVL.L Martin Ratio Rank: 9595
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. IWVL.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 (Acc) (IWVL.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.LIWVL.LDifference
Sharpe ratioReturn per unit of total volatility
2.67
4.24

-1.57

Sortino ratioReturn per unit of downside risk
3.86
5.85

-2.00

Omega ratioGain probability vs. loss probability

1.49

1.76

-0.27

Calmar ratioReturn relative to maximum drawdown

3.85

7.55

-3.70

Martin ratioReturn relative to average drawdown

16.09

28.57

-12.48

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. IWVL.L - Sharpe Ratio Comparison

The current HWWD.L Sharpe Ratio is 2.67, which is lower than the IWVL.L Sharpe Ratio of 4.24. The chart below compares the historical Sharpe Ratios of HWWD.L and IWVL.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.LIWVL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.67

4.24

-1.57

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

1.01

-0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.75

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.62

+0.02

Drawdowns

HWWD.L vs. IWVL.L - Drawdown Comparison

The maximum HWWD.L drawdown since its inception was -33.76%, smaller than the maximum IWVL.L drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for HWWD.L and IWVL.L.

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Drawdown Indicators

HWWD.LIWVL.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.76%

-39.30%

+5.54%

Max Drawdown (1Y)

Largest decline over 1 year

-8.55%

-8.74%

+0.19%

Max Drawdown (3Y)

Largest decline over 3 years

-15.36%

-14.46%

-0.90%

Max Drawdown (5Y)

Largest decline over 5 years

-26.22%

-26.55%

+0.33%

Max Drawdown (10Y)

Largest decline over 10 years

-33.76%

-39.30%

+5.54%

Current Drawdown

Current decline from peak

-0.61%

-0.91%

+0.30%

Average Drawdown

Average peak-to-trough decline

-5.37%

-7.50%

+2.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.05%

2.31%

-0.26%

Volatility

HWWD.L vs. IWVL.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 (Acc) (IWVL.L) has a volatility of 6.56%. This indicates that HWWD.L experiences smaller price fluctuations and is considered to be less risky than IWVL.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.LIWVL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

6.56%

-2.09%

Volatility (6M)

Calculated over the trailing 6-month period

10.03%

12.94%

-2.91%

Volatility (1Y)

Calculated over the trailing 1-year period

12.35%

15.57%

-3.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.27%

16.05%

-0.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.68%

17.02%

-1.34%

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

Both HWWD.L and IWVL.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

HWWD.L vs. IWVL.L - Dividend Comparison

HWWD.L's dividend yield for the trailing twelve months is around 1.30%, while IWVL.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%
IWVL.L
iShares Edge MSCI World Value Factor UCITS ETF USD (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

HWWD.L and IWVL.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

HWWD.L and IWVL.L have the same expense ratio: 0.25% per year.

HWWD.L tracks MSCI ACWI NR USD, while IWVL.L tracks MSCI World Enhanced Value Index. They also come from different issuers: HSBC and iShares.

Portfolio Optimizer

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