ISWD.L vs. HIWS.L

Last updated Jun 4, 2026

ISWD.L (iShares MSCI World Islamic UCITS ETF USD (Dist)) and HIWS.L (HSBC MSCI World Islamic Screened UCITS ETF USD Acc) are both Global Equities funds - ISWD.L tracks the MSCI World Islamic Index while HIWS.L tracks the MSCI World Islamic Universal Screened Select Index. Both are passively managed. Over the past 3 years, ISWD.L returned 16.15%/yr vs 17.42%/yr for HIWS.L. With a 0.96 correlation, they move nearly in lockstep. ISWD.L charges 0.60%/yr vs 0.30%/yr for HIWS.L.

Performance

ISWD.L vs. HIWS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L) and HSBC MSCI World Islamic Screened UCITS ETF USD Acc (HIWS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ISWD.L is traded in GBp, while HIWS.L is traded in GBP. To make them comparable, the HIWS.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ISWD.L achieves a 20.37% return, which is significantly lower than HIWS.L's 21.56% return.

ISWD.L

• 1D: 0.65%
• 1M: 11.25%
• YTD: 20.37%
• 6M: 20.71%
• 1Y: 38.83%
• 3Y*: 16.15%
• 5Y*: 13.73%
• 10Y*: 12.78%

HIWS.L

• 1D: 0.80%
• 1M: 13.23%
• YTD: 21.56%
• 6M: 22.03%
• 1Y: 41.15%
• 3Y*: 17.42%
• 5Y*: —
• 10Y*: —

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

ISWD.L vs. HIWS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ISWD.L iShares MSCI World Islamic UCITS ETF USD (Dist)	20.37%	11.58%	7.85%	17.25%	-3.39%
HIWS.L HSBC MSCI World Islamic Screened UCITS ETF USD Acc	21.56%	13.05%	8.10%	19.20%	-3.08%

Correlation

The correlation between ISWD.L and HIWS.L is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 2, 2022	0.96

The correlation between ISWD.L and HIWS.L has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

ISWD.L vs. HIWS.L — Risk / Return Rank

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

ISWD.L

ISWD.L Risk / Return Rank: 92
ISWD.L Sharpe Ratio Rank: 92
ISWD.L Sortino Ratio Rank: 92
ISWD.L Omega Ratio Rank: 92
ISWD.L Calmar Ratio Rank: 93
ISWD.L Martin Ratio Rank: 92

HIWS.L

HIWS.L Risk / Return Rank: 90
HIWS.L Sharpe Ratio Rank: 90
HIWS.L Sortino Ratio Rank: 90
HIWS.L Omega Ratio Rank: 88
HIWS.L Calmar Ratio Rank: 90
HIWS.L Martin Ratio Rank: 89

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.

ISWD.L vs. HIWS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L) and HSBC MSCI World Islamic Screened UCITS ETF USD Acc (HIWS.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.

	ISWD.L	HIWS.L	Difference
Sharpe ratio Return per unit of total volatility	3.42	3.14	+0.28
Sortino ratio Return per unit of downside risk	4.60	4.24	+0.37
Omega ratio Gain probability vs. loss probability	1.63	1.56	+0.07
Calmar ratio Return relative to maximum drawdown	7.02	5.59	+1.42
Martin ratio Return relative to average drawdown	24.08	20.16	+3.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISWD.L vs. HIWS.L - Sharpe Ratio Comparison

The current ISWD.L Sharpe Ratio is 3.42, which is comparable to the HIWS.L Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of ISWD.L and HIWS.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

	ISWD.L	HIWS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.42	3.14	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	1.22	-0.47

Drawdowns

ISWD.L vs. HIWS.L - Drawdown Comparison

The maximum ISWD.L drawdown since its inception was -31.52%, which is greater than HIWS.L's maximum drawdown of -21.14%. Use the drawdown chart below to compare losses from any high point for ISWD.L and HIWS.L.

Drawdown Indicators

	ISWD.L	HIWS.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.52%	-21.14%	-10.38%
Max Drawdown (1Y) Largest decline over 1 year	-5.51%	-7.33%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-21.00%	-21.14%	+0.14%
Max Drawdown (5Y) Largest decline over 5 years	-21.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.90%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.61%	-2.79%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	2.04%	-0.43%

Volatility

ISWD.L vs. HIWS.L - Volatility Comparison

The current volatility for iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L) is 3.64%, while HSBC MSCI World Islamic Screened UCITS ETF USD Acc (HIWS.L) has a volatility of 4.50%. This indicates that ISWD.L experiences smaller price fluctuations and is considered to be less risky than HIWS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISWD.L	HIWS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	4.50%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	10.08%	-1.68%
Volatility (1Y) Calculated over the trailing 1-year period	11.34%	13.08%	-1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.27%	13.72%	-0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.33%	13.72%	+0.61%

ISWD.L vs. HIWS.L - Expense Ratio Comparison

ISWD.L has a 0.60% expense ratio, which is higher than HIWS.L's 0.30% expense ratio.

Dividends

ISWD.L vs. HIWS.L - Dividend Comparison

ISWD.L's dividend yield for the trailing twelve months is around 1.27%, while HIWS.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIWS.L HSBC MSCI World Islamic Screened 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%
ISWD.L iShares MSCI World Islamic UCITS ETF USD (Dist)	1.27%	1.50%	1.74%	1.99%	2.43%	1.98%	1.88%	2.37%	2.39%	2.09%	2.09%	2.62%

Frequently Asked Questions

Can I hold both ISWD.L and HIWS.L in my portfolio?

With a correlation of 0.94, ISWD.L and HIWS.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, ISWD.L or HIWS.L?

On fees, HIWS.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISWD.L or HIWS.L?

HIWS.L is cheaper with a 0.30% expense ratio, compared with 0.60% for ISWD.L.

What is the main difference between ISWD.L and HIWS.L?

ISWD.L tracks MSCI World Islamic Index, while HIWS.L tracks MSCI World Islamic Universal Screened Select Index. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.60% for ISWD.L and 0.30% for HIWS.L.