SLXX.L vs. HMWO.L
SLXX.L (iShares Core £ Corp Bond UCITS ETF) and HMWO.L (HSBC MSCI World UCITS ETF) are both exchange-traded funds - SLXX.L is a Corporate Bonds fund tracking the Markit iBoxx GBP Liquid Corporates Large Cap Index, while HMWO.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, SLXX.L returned 1.80%/yr vs 12.15%/yr for HMWO.L. At a 0.01 correlation, their price movements are largely independent. SLXX.L charges 0.20%/yr vs 0.15%/yr for HMWO.L.
Performance
SLXX.L vs. HMWO.L - Performance Comparison
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Different Trading Currencies
SLXX.L is traded in GBP, while HMWO.L is traded in GBp. To make them comparable, the HMWO.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SLXX.L achieves a -0.09% return, which is significantly lower than HMWO.L's 9.53% return. Over the past 10 years, SLXX.L has underperformed HMWO.L with an annualized return of 1.80%, while HMWO.L has yielded a comparatively higher 12.15% annualized return.
SLXX.L
- 1D
- 0.21%
- 1M
- 2.07%
- YTD
- -0.09%
- 6M
- 0.15%
- 1Y
- 4.74%
- 3Y*
- 5.83%
- 5Y*
- -0.77%
- 10Y*
- 1.80%
HMWO.L
- 1D
- 0.16%
- 1M
- 5.13%
- YTD
- 9.53%
- 6M
- 9.79%
- 1Y
- 25.75%
- 3Y*
- 16.04%
- 5Y*
- 11.42%
- 10Y*
- 12.15%
SLXX.L vs. HMWO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLXX.L iShares Core £ Corp Bond UCITS ETF | -0.09% | 6.50% | 1.60% | 8.54% | -18.36% | -4.01% | 9.03% | 11.30% | -2.77% | 4.24% |
HMWO.L HSBC MSCI World UCITS ETF | 9.53% | 11.10% | 19.31% | 15.79% | -10.00% | 22.25% | 10.57% | 20.88% | -5.47% | 9.85% |
Correlation
The correlation between SLXX.L and HMWO.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2010 | 0.01 |
Over the past year, SLXX.L and HMWO.L have become more correlated (0.33) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
SLXX.L vs. HMWO.L — Risk / Return Rank
SLXX.L
HMWO.L
SLXX.L vs. HMWO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core £ Corp Bond UCITS ETF (SLXX.L) and HSBC MSCI World UCITS ETF (HMWO.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.
| SLXX.L | HMWO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.47 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 3.82 | -2.71 |
| Martin ratioReturn relative to average drawdown | 3.47 | 15.06 | -11.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLXX.L | HMWO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 2.50 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.86 | -0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.84 | -0.62 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.72 | -0.28 |
Drawdowns
SLXX.L vs. HMWO.L - Drawdown Comparison
The maximum SLXX.L drawdown since its inception was -30.27%, which is greater than HMWO.L's maximum drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for SLXX.L and HMWO.L.
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Drawdown Indicators
| SLXX.L | HMWO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.27% | -25.48% | -4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -6.71% | +2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -19.01% | +14.76% |
Max Drawdown (5Y)Largest decline over 5 years | -29.34% | -19.01% | -10.33% |
Max Drawdown (10Y)Largest decline over 10 years | -30.27% | -25.48% | -4.79% |
Current DrawdownCurrent decline from peak | -8.12% | -0.13% | -7.99% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -4.07% | -1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 1.71% | -0.34% |
Volatility
SLXX.L vs. HMWO.L - Volatility Comparison
The current volatility for iShares Core £ Corp Bond UCITS ETF (SLXX.L) is 2.11%, while HSBC MSCI World UCITS ETF (HMWO.L) has a volatility of 2.54%. This indicates that SLXX.L experiences smaller price fluctuations and is considered to be less risky than HMWO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLXX.L | HMWO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 2.54% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 4.81% | 7.34% | -2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.59% | 10.26% | -4.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.06% | 13.28% | -5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.08% | 14.47% | -6.39% |
SLXX.L vs. HMWO.L - Expense Ratio Comparison
SLXX.L has a 0.20% expense ratio, which is higher than HMWO.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SLXX.L vs. HMWO.L - Dividend Comparison
SLXX.L's dividend yield for the trailing twelve months is around 4.93%, more than HMWO.L's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMWO.L HSBC MSCI World UCITS ETF | 0.01% | 0.01% | 0.01% | 0.02% | 0.02% | 0.01% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
SLXX.L iShares Core £ Corp Bond UCITS ETF | 4.93% | 4.82% | 4.68% | 4.06% | 2.75% | 2.06% | 2.12% | 2.44% | 2.71% | 2.73% | 2.99% | 3.39% |
Frequently Asked Questions
SLXX.L and HMWO.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HMWO.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMWO.L is cheaper with a 0.15% expense ratio, compared with 0.20% for SLXX.L.
SLXX.L is categorized as Corporate Bonds, while HMWO.L is Global Equities. SLXX.L tracks Markit iBoxx GBP Liquid Corporates Large Cap Index, while HMWO.L tracks MSCI ACWI NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.20% for SLXX.L and 0.15% for HMWO.L.
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