Abstract. To improve the understanding of trends in extreme flows related to flood events at the global scale, historical and future changes of annual maximum streamflow are investigated, using a comprehensive streamflow archive and six global hydrological models. The models' capacity to characterise trends in annual maximum streamflow is evaluated across 3,666 river gauge locations over the period from 1971 to 2005, focusing on four aspects of trends over continental and global scale: (i) mean, (ii) standard deviation, (iii) percentage of locations showing significant trends and (iv) spatial pattern. Compared to observed trends, simulated trends driven by observed climate forcing generally have a higher mean, lower spread, and a similar percentage of locations showing significant trends. Models show a moderate capacity to simulate spatial patterns of historical trends, with approximately only 12–25 % of the spatial variance of observed trends across all gauge stations accounted for by the simulations. Interestingly, there are significant differences between trends simulated by GHMs forced with historical climate and forced by bias corrected climate model output during the historical period, suggesting the important role of the stochastic natural (decadal, inter-annual) climate variability. Significant differences were found in simulated flood trend results when averaged only at gauged locations compared to when averaging across all simulated grid cells, highlighting the potential for bias toward well-observed regions in the state-of-understanding of changes in floods. Future climate projections (simulated under RCP2.6 and RCP6.0 greenhouse gas concentration scenario) suggest a potentially high level of change in individual regions, with up to 35 % of cells showing a statistically significant trend (increase or decrease) and greater changes indicated for the higher concentration pathway. Importantly, the observed streamflow database under-samples the percentage of high-risk locations under RCP6.0 greenhouse gas concentration scenario by more than an order of magnitude (0.9 % compared to 11.7 %). This finding indicates a highly uncertain future for both flood-prone communities and decision makers in the context of climate change.