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HSBC Multi Factor Worldwide Equity UCITS ETF – Global equity exposure with a little extra juice

HSBC Multi Factor Worldwide Equity UCITS ETF (HWWA) is a well-established active ETF that highlights the benefits of this asset class. Using a proven factor investing approach, explained later in this report, it has consistently delivered modest outperformance against its global equity benchmark.

Despite a brief setback during the “Liberation Day” tariff announcements in April, global equities had another strong year in 2025, with gains spread more widely than before. HWWA outperformed its benchmark over the year.

While risks remain, especially from unpredictable US policy, the outlook for global equities is positive as we head into 2026. For investors seeking global equities exposure with the potential for some outperformance, HWWA is worth considering. We examine this further in the following pages.