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ACWD.L vs. IWVG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ACWD.L vs. IWVG.L

Last updated Jun 4, 2026

ACWD.L (SPDR MSCI All Country World UCITS ETF) and IWVG.L (iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)) are both Global Equities funds - ACWD.L tracks the MSCI ACWI Index while IWVG.L tracks the MSCI ACWI Value NR USD. Both are passively managed. Over the past 5 years, ACWD.L returned 11.33%/yr vs 15.45%/yr for IWVG.L. Their correlation of 0.82 suggests significant overlap in exposure. ACWD.L charges 0.12%/yr vs 0.30%/yr for IWVG.L.

Performance

ACWD.L vs. IWVG.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 iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ACWD.L is traded in USD, while IWVG.L is traded in GBP. To make them comparable, the IWVG.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 11.57% return, which is significantly lower than IWVG.L's 34.86% return.

ACWD.L

1D
-0.66%
1M
4.34%
YTD
11.57%
6M
13.24%
1Y
29.71%
3Y*
21.32%
5Y*
11.33%
10Y*
12.77%

IWVG.L

1D
-0.16%
1M
15.32%
YTD
34.86%
6M
38.07%
1Y
62.99%
3Y*
28.81%
5Y*
15.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
ACWD.L
SPDR MSCI All Country World UCITS ETF		11.57%22.83%17.76%22.27%-18.37%18.77%15.91%25.80%-11.66%
IWVG.L
iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)		34.86%37.12%3.45%19.01%-9.76%20.37%-3.98%19.05%-16.16%

Correlation

The correlation between ACWD.L and IWVG.L is 0.79, 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

0.79

Correlation (3Y)
Calculated over the trailing 3-year period

0.77

Correlation (5Y)
Calculated over the trailing 5-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Feb 28, 2018

0.82

The correlation between ACWD.L and IWVG.L has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

ACWD.L vs. IWVG.L - Sectors Allocation Comparison

Sectors
ACWD.L
IWVG.L

Technology

29.2%
33.9%

Financial Services

16.5%
14.8%

Industrials

10.9%
11.3%

Consumer Cyclical

9.3%
7.9%

Communication Services

9.0%
7.6%

Healthcare

8.0%
8.8%

Consumer Defensive

4.9%
4.5%

Energy

4.3%
3.8%

Basic Materials

3.6%
3.0%

Utilities

2.7%
2.5%

Real Estate

1.7%
1.8%

Technology

ACWD.L
29.2%
IWVG.L
33.9%

Financial Services

ACWD.L
16.5%
IWVG.L
14.8%

Industrials

ACWD.L
10.9%
IWVG.L
11.3%

Consumer Cyclical

ACWD.L
9.3%
IWVG.L
7.9%

Communication Services

ACWD.L
9.0%
IWVG.L
7.6%

Healthcare

ACWD.L
8.0%
IWVG.L
8.8%

Consumer Defensive

ACWD.L
4.9%
IWVG.L
4.5%

Energy

ACWD.L
4.3%
IWVG.L
3.8%

Basic Materials

ACWD.L
3.6%
IWVG.L
3.0%

Utilities

ACWD.L
2.7%
IWVG.L
2.5%

Real Estate

ACWD.L
1.7%
IWVG.L
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR MSCI All Country World UCITS ETF

iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)

Often compared with ACWD.L:
ACWD.L vs. VWRA.LACWD.L vs. ACWIACWD.L vs. SWRD.LACWD.L vs. IWDA.LACWD.L vs. FWRA.LACWD.L vs. WEBN.DEACWD.L vs. IWQU.L
Often compared with IWVG.L:
IWVG.L vs. IWQU.LIWVG.L vs. VTVIWVG.L vs. XDEV.LIWVG.L vs. URTHIWVG.L vs. VTIWVG.L vs. IUVD.LIWVG.L vs. VWRA.L

Return for Risk

ACWD.L vs. IWVG.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: 7272
Overall Rank
ACWD.L Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
ACWD.L Sortino Ratio Rank: 7676
Sortino Ratio Rank
ACWD.L Omega Ratio Rank: 7171
Omega Ratio Rank
ACWD.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
ACWD.L Martin Ratio Rank: 7373
Martin Ratio Rank
IWVG.L
IWVG.L Risk / Return Rank: 9797
Overall Rank
IWVG.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
IWVG.L Sortino Ratio Rank: 9797
Sortino Ratio Rank
IWVG.L Omega Ratio Rank: 9797
Omega Ratio Rank
IWVG.L Calmar Ratio Rank: 9696
Calmar Ratio Rank
IWVG.L Martin Ratio Rank: 9696
Martin Ratio Rank
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. IWVG.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 iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.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.LIWVG.LDifference
Sharpe ratioReturn per unit of total volatility
2.36
4.24

-1.88

Sortino ratioReturn per unit of downside risk
3.49
5.76

-2.28

Omega ratioGain probability vs. loss probability

1.44

1.75

-0.32

Calmar ratioReturn relative to maximum drawdown

3.39

7.25

-3.86

Martin ratioReturn relative to average drawdown

14.15

27.57

-13.42

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. IWVG.L - Sharpe Ratio Comparison

The current ACWD.L Sharpe Ratio is 2.36, which is lower than the IWVG.L Sharpe Ratio of 4.24. The chart below compares the historical Sharpe Ratios of ACWD.L and IWVG.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.

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Sharpe Ratios by Period

ACWD.LIWVG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

4.24

-1.88

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.98

-0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.80

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.63

+0.10

Drawdowns

ACWD.L vs. IWVG.L - Drawdown Comparison

The maximum ACWD.L drawdown since its inception was -33.64%, smaller than the maximum IWVG.L drawdown of -35.72%. Use the drawdown chart below to compare losses from any high point for ACWD.L and IWVG.L.

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Drawdown Indicators

ACWD.LIWVG.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.64%

-35.72%

+2.08%

Max Drawdown (1Y)

Largest decline over 1 year

-8.73%

-8.65%

-0.08%

Max Drawdown (3Y)

Largest decline over 3 years

-16.51%

-14.52%

-1.99%

Max Drawdown (5Y)

Largest decline over 5 years

-26.18%

-26.90%

+0.72%

Max Drawdown (10Y)

Largest decline over 10 years

-33.64%

—

—

Current Drawdown

Current decline from peak

-0.66%

-0.16%

-0.50%

Average Drawdown

Average peak-to-trough decline

-4.67%

-6.70%

+2.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

2.28%

-0.19%

Volatility

ACWD.L vs. IWVG.L - Volatility Comparison

The current volatility for SPDR MSCI All Country World UCITS ETF (ACWD.L) is 3.87%, while iShares Edge MSCI World Value Factor UCITS ETF USD (Dist) (IWVG.L) has a volatility of 6.12%. This indicates that ACWD.L experiences smaller price fluctuations and is considered to be less risky than IWVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ACWD.LIWVG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.87%

6.12%

-2.25%

Volatility (6M)

Calculated over the trailing 6-month period

9.89%

11.90%

-2.01%

Volatility (1Y)

Calculated over the trailing 1-year period

12.56%

14.80%

-2.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.58%

15.70%

-0.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.85%

17.58%

-1.73%

ACWD.L vs. IWVG.L - Expense Ratio Comparison

ACWD.L has a 0.12% expense ratio, which is lower than IWVG.L's 0.30% expense ratio.

Dividends

ACWD.L vs. IWVG.L - Dividend Comparison

Neither ACWD.L nor IWVG.L has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
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%
IWVG.L
iShares Edge MSCI World Value Factor UCITS ETF USD (Dist)		0.00%0.00%1.82%3.23%3.12%2.61%2.37%2.90%2.48%

Frequently Asked Questions

ACWD.L and IWVG.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ACWD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ACWD.L is cheaper with a 0.12% expense ratio, compared with 0.30% for IWVG.L.

ACWD.L tracks MSCI ACWI Index, while IWVG.L tracks MSCI ACWI Value NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for ACWD.L and 0.30% for IWVG.L.

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