ACWD.L vs. FLES.L
ACWD.L (SPDR MSCI All Country World UCITS ETF) and FLES.L (Franklin Euro Short Maturity UCITS ETF) are both Global Equities funds - ACWD.L tracks the MSCI ACWI Index while FLES.L tracks the Franklin Euro Short Maturity UCITS ETF. Both are passively managed. Over the past 5 years, ACWD.L returned 11.05%/yr vs 1.62%/yr for FLES.L. At a 0.28 correlation, their price movements are largely independent.
Performance
ACWD.L vs. FLES.L - Performance Comparison
Loading charts...
Different Trading Currencies
ACWD.L is traded in USD, while FLES.L is traded in EUR. To make them comparable, the FLES.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 11.10% return, which is significantly higher than FLES.L's -1.49% return.
ACWD.L
- 1D
- 0.07%
- 1M
- -0.64%
- 6M
- 9.52%
- YTD
- 11.10%
- 1Y
- 23.82%
- 3Y*
- 19.08%
- 5Y*
- 11.05%
- 10Y*
- 12.42%
FLES.L
- 1D
- 0.50%
- 1M
- -0.93%
- 6M
- -0.68%
- YTD
- -1.49%
- 1Y
- 0.66%
- 3Y*
- 3.92%
- 5Y*
- 1.62%
- 10Y*
- —
ACWD.L vs. FLES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ACWD.L SPDR MSCI All Country World UCITS ETF | 11.10% | 22.83% | 17.76% | 22.27% | -18.37% | 18.77% | 15.91% | 25.80% | -8.74% |
FLES.L Franklin Euro Short Maturity UCITS ETF | -1.49% | 16.13% | -2.23% | 6.56% | -5.88% | -6.70% | 8.72% | -1.43% | -1.37% |
Correlation
The correlation between ACWD.L and FLES.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | 0.28 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ACWD.L vs. FLES.L — Risk / Return Rank
ACWD.L
FLES.L
ACWD.L vs. FLES.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 Franklin Euro Short Maturity UCITS ETF (FLES.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.
| ACWD.L | FLES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.02 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 0.13 | +2.59 |
| Martin ratioReturn relative to average drawdown | 10.81 | 0.28 | +10.53 |
Loading charts...
Drawdowns
ACWD.L vs. FLES.L - Drawdown Comparison
The maximum ACWD.L drawdown since its inception was -33.64%, which is greater than FLES.L's maximum drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for ACWD.L and FLES.L.
Loading charts...
Drawdown Indicators
| ACWD.L | FLES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.64% | -22.21% | -11.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -5.08% | -3.65% |
Max Drawdown (3Y)Largest decline over 3 years | -16.51% | -7.56% | -8.95% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -19.33% | -6.85% |
Max Drawdown (10Y)Largest decline over 10 years | -33.64% | — | — |
Current DrawdownCurrent decline from peak | -1.08% | -3.98% | +2.90% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -6.60% | +1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.39% | -0.19% |
Volatility
ACWD.L vs. FLES.L - Volatility Comparison
SPDR MSCI All Country World UCITS ETF (ACWD.L) has a higher volatility of 3.28% compared to Franklin Euro Short Maturity UCITS ETF (FLES.L) at 1.61%. This indicates that ACWD.L's price experiences larger fluctuations and is considered to be riskier than FLES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ACWD.L | FLES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 1.61% | +1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 10.70% | 4.56% | +6.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.03% | 6.22% | +6.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.66% | 7.64% | +8.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.73% | 7.25% | +8.48% |
Dividends
ACWD.L vs. FLES.L - Dividend Comparison
ACWD.L has not paid dividends to shareholders, while FLES.L's dividend yield for the trailing twelve months is around 1.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ACWD.L SPDR MSCI All Country World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLES.L Franklin Euro Short Maturity UCITS ETF | 1.92% | 2.62% | 2.55% | 1.20% | 0.26% |
Frequently Asked Questions
ACWD.L and FLES.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACWD.L tracks MSCI ACWI Index, while FLES.L tracks Franklin Euro Short Maturity UCITS ETF. They also come from different issuers: State Street and Franklin.
Find the right allocation for ACWD.L and FLES.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer