ACWD.L vs. AAS.L

Last updated Jun 10, 2026

ACWD.L (SPDR MSCI All Country World UCITS ETF) is Global Equities fund tracking the MSCI ACWI Index, while AAS.L (Abrdn Asia Focus plc) is a stock. Over the past 10 years, ACWD.L returned 12.41%/yr vs 15.59%/yr for AAS.L. At a 0.44 correlation, their price movements are largely independent.

Performance

ACWD.L vs. AAS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI All Country World UCITS ETF (ACWD.L) and Abrdn Asia Focus plc (AAS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ACWD.L is traded in USD, while AAS.L is traded in GBp. To make them comparable, the AAS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ACWD.L achieves a 7.87% return, which is significantly lower than AAS.L's 15.32% return. Over the past 10 years, ACWD.L has underperformed AAS.L with an annualized return of 12.41%, while AAS.L has yielded a comparatively higher 15.59% annualized return.

ACWD.L

• 1D: -1.23%
• 1M: -1.03%
• YTD: 7.87%
• 6M: 9.05%
• 1Y: 24.10%
• 3Y*: 19.72%
• 5Y*: 10.52%
• 10Y*: 12.41%

AAS.L

• 1D: 0.53%
• 1M: -9.86%
• YTD: 15.32%
• 6M: 16.08%
• 1Y: 35.28%
• 3Y*: 23.45%
• 5Y*: 12.20%
• 10Y*: 15.59%

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

ACWD.L vs. AAS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWD.L SPDR MSCI All Country World UCITS ETF	7.87%	22.83%	17.76%	22.27%	-18.37%	18.77%	15.91%	25.80%	-9.85%	24.09%
AAS.L Abrdn Asia Focus plc	15.32%	36.29%	11.27%	12.27%	-19.74%	26.89%	23.18%	21.30%	-1.23%	31.91%

Correlation

The correlation between ACWD.L and AAS.L is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since May 16, 2011	0.44

The correlation between ACWD.L and AAS.L shifts across timeframes, from 0.43 (10 years) to 0.59 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ACWD.L vs. AAS.L — Risk / Return Rank

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

ACWD.L

ACWD.L Risk / Return Rank: 66
ACWD.L Sharpe Ratio Rank: 64
ACWD.L Sortino Ratio Rank: 70
ACWD.L Omega Ratio Rank: 65
ACWD.L Calmar Ratio Rank: 62
ACWD.L Martin Ratio Rank: 69

AAS.L

AAS.L Risk / Return Rank: 87
AAS.L Sharpe Ratio Rank: 89
AAS.L Sortino Ratio Rank: 88
AAS.L Omega Ratio Rank: 88
AAS.L Calmar Ratio Rank: 83
AAS.L Martin Ratio Rank: 87

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.

ACWD.L vs. AAS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI All Country World UCITS ETF (ACWD.L) and Abrdn Asia Focus plc (AAS.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.

	ACWD.L	AAS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.73	+0.15
Sortino ratio: Return per unit of downside risk	2.81	2.46	+0.36
Omega ratio: Gain probability vs. loss probability	1.35	1.32	+0.03
Calmar ratio: Return relative to maximum drawdown	2.75	2.43	+0.32
Martin ratio: Return relative to average drawdown	11.33	8.22	+3.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACWD.L vs. AAS.L - Sharpe Ratio Comparison

The current ACWD.L Sharpe Ratio is 1.89, which is comparable to the AAS.L Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of ACWD.L and AAS.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

	ACWD.L	AAS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	1.73	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.57	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.72	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.00	+0.64

Drawdowns

ACWD.L vs. AAS.L - Drawdown Comparison

The maximum ACWD.L drawdown since its inception was -33.64%, smaller than the maximum AAS.L drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for ACWD.L and AAS.L.

Drawdown Indicators

	ACWD.L	AAS.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-99.97%	+66.33%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-14.44%	+5.71%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-15.10%	-1.41%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	-36.12%	+9.94%
Max Drawdown (10Y) Largest decline over 10 years	-33.64%	-43.08%	+9.44%
Current Drawdown Current decline from peak	-3.96%	-82.44%	+78.48%
Average Drawdown Average peak-to-trough decline	-4.89%	-86.33%	+81.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	4.28%	-2.16%

Volatility

ACWD.L vs. AAS.L - Volatility Comparison

The current volatility for SPDR MSCI All Country World UCITS ETF (ACWD.L) is 4.13%, while Abrdn Asia Focus plc (AAS.L) has a volatility of 7.20%. This indicates that ACWD.L experiences smaller price fluctuations and is considered to be less risky than AAS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWD.L	AAS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	7.20%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	10.12%	17.42%	-7.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.72%	20.33%	-7.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	21.54%	-5.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.86%	21.59%	-5.73%

Dividends

ACWD.L vs. AAS.L - Dividend Comparison

ACWD.L has not paid dividends to shareholders, while AAS.L's dividend yield for the trailing twelve months is around 1.53%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAS.L Abrdn Asia Focus plc	1.53%	1.77%	2.53%	3.26%	4.11%	0.00%	8.14%	8.84%	8.40%	7.58%	5.54%	10.18%
ACWD.L SPDR MSCI All Country World UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACWD.L and AAS.L in my portfolio?

ACWD.L and AAS.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.