WMVG.L vs. HSWO.L

Last updated Jun 25, 2026

WMVG.L (iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc)) and HSWO.L (HSBC Developed World Sustainable Equity UCITS ETF USD) are both Global Equities funds - WMVG.L tracks the MSCI World Minimum Volatility while HSWO.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, WMVG.L returned 5.98%/yr vs 12.54%/yr for HSWO.L. A 0.63 correlation means they provide meaningful diversification when combined. WMVG.L charges 0.35%/yr vs 0.18%/yr for HSWO.L.

Performance

WMVG.L vs. HSWO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc) (WMVG.L) and HSBC Developed World Sustainable Equity UCITS ETF USD (HSWO.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WMVG.L achieves a 1.26% return, which is significantly lower than HSWO.L's 14.10% return.

WMVG.L

• 1D: 0.75%
• 1M: -0.99%
• YTD: 1.26%
• 6M: 1.39%
• 1Y: 3.61%
• 3Y*: 9.64%
• 5Y*: 5.98%
• 10Y*: —

HSWO.L

• 1D: 0.75%
• 1M: 2.16%
• YTD: 14.10%
• 6M: 14.66%
• 1Y: 32.97%
• 3Y*: 18.55%
• 5Y*: 12.54%
• 10Y*: —

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

WMVG.L vs. HSWO.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
WMVG.L iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc)	1.26%	9.07%	14.47%	7.36%	-8.31%	16.96%	6.93%
HSWO.L HSBC Developed World Sustainable Equity UCITS ETF USD	14.10%	15.33%	16.90%	13.60%	-7.08%	23.82%	-12.77%

Correlation

The correlation between WMVG.L and HSWO.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jul 9, 2020	0.63

Over the past year, the correlation between WMVG.L and HSWO.L has dropped to 0.41 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

WMVG.L vs. HSWO.L - Sectors Allocation Comparison

Sectors	WMVG.L	HSWO.L
Technology	24.0%	33.7%
Healthcare	13.8%	11.1%
Financial Services	13.1%	25.9%
Communication Services	11.4%	5.5%
Consumer Defensive	10.3%	5.3%
Industrials	8.9%	4.6%
Utilities	7.4%	2.1%
Consumer Cyclical	5.2%	6.7%
Energy	4.0%	0.9%
Real Estate	1.1%	0.5%
Basic Materials	0.9%	3.7%

Return for Risk

WMVG.L vs. HSWO.L — Risk / Return Rank

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

WMVG.L

WMVG.L Risk / Return Rank: 16
WMVG.L Sharpe Ratio Rank: 17
WMVG.L Sortino Ratio Rank: 15
WMVG.L Omega Ratio Rank: 15
WMVG.L Calmar Ratio Rank: 19
WMVG.L Martin Ratio Rank: 17

HSWO.L

HSWO.L Risk / Return Rank: 93
HSWO.L Sharpe Ratio Rank: 95
HSWO.L Sortino Ratio Rank: 95
HSWO.L Omega Ratio Rank: 95
HSWO.L Calmar Ratio Rank: 90
HSWO.L Martin Ratio Rank: 92

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.

WMVG.L vs. HSWO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc) (WMVG.L) and HSBC Developed World Sustainable Equity UCITS ETF USD (HSWO.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WMVG.L	HSWO.L	Difference
Sharpe ratio: Return per unit of total volatility	0.48	3.26	-2.78
Sortino ratio: Return per unit of downside risk	0.72	4.48	-3.76
Omega ratio: Gain probability vs. loss probability	1.09	1.62	-0.53
Calmar ratio: Return relative to maximum drawdown	0.73	4.79	-4.07
Martin ratio: Return relative to average drawdown	1.68	19.55	-17.87

WMVG.L vs. HSWO.L - Sharpe Ratio Comparison

The current WMVG.L Sharpe Ratio is 0.48, which is lower than the HSWO.L Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of WMVG.L and HSWO.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.

Drawdowns

WMVG.L vs. HSWO.L - Drawdown Comparison

The maximum WMVG.L drawdown since its inception was -28.25%, which is greater than HSWO.L's maximum drawdown of -22.51%. Use the drawdown chart below to compare losses from any high point for WMVG.L and HSWO.L.

Drawdown Indicators

	WMVG.L	HSWO.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.25%	-22.51%	-5.74%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	-6.85%	+1.92%
Max Drawdown (3Y) Largest decline over 3 years	-9.07%	-19.97%	+10.90%
Max Drawdown (5Y) Largest decline over 5 years	-15.18%	-19.97%	+4.79%
Current Drawdown Current decline from peak	-3.25%	-0.04%	-3.21%
Average Drawdown Average peak-to-trough decline	-4.10%	-6.26%	+2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	1.68%	+0.47%

Volatility

WMVG.L vs. HSWO.L - Volatility Comparison

The current volatility for iShares Edge MSCI World Minimum Volatility UCITS ETF GBP Hedged (Acc) (WMVG.L) is 2.00%, while HSBC Developed World Sustainable Equity UCITS ETF USD (HSWO.L) has a volatility of 3.33%. This indicates that WMVG.L experiences smaller price fluctuations and is considered to be less risky than HSWO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WMVG.L	HSWO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.00%	3.33%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	5.23%	7.89%	-2.66%
Volatility (1Y) Calculated over the trailing 1-year period	7.44%	10.08%	-2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.99%	18.67%	-8.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.13%	19.85%	-7.72%

WMVG.L vs. HSWO.L - Expense Ratio Comparison

WMVG.L has a 0.35% expense ratio, which is higher than HSWO.L's 0.18% expense ratio.

Dividends

WMVG.L vs. HSWO.L - Dividend Comparison

Neither WMVG.L nor HSWO.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both WMVG.L and HSWO.L in my portfolio?

WMVG.L and HSWO.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WMVG.L or HSWO.L?

On fees, HSWO.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WMVG.L or HSWO.L?

HSWO.L is cheaper with a 0.18% expense ratio, compared with 0.35% for WMVG.L.

What is the main difference between WMVG.L and HSWO.L?

WMVG.L tracks MSCI World Minimum Volatility, while HSWO.L tracks MSCI ACWI NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.35% for WMVG.L and 0.18% for HSWO.L.