ACWD.L vs. SPXS.L
ACWD.L (SPDR MSCI All Country World UCITS ETF) and SPXS.L (Invesco S&P 500 UCITS ETF) are both Global Equities funds - ACWD.L tracks the MSCI ACWI Index while SPXS.L tracks the Invesco S&P 500 UCITS ETF. Both are passively managed. Over the past 10 years, ACWD.L returned 12.42%/yr vs -27.39%/yr for SPXS.L. Their correlation of 0.92 suggests significant overlap in exposure. ACWD.L charges 0.12%/yr vs 0.05%/yr for SPXS.L.
Performance
ACWD.L vs. SPXS.L - Performance Comparison
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Returns By Period
In the year-to-date period, ACWD.L achieves a 11.10% return, which is significantly higher than SPXS.L's 10.20% return. Over the past 10 years, ACWD.L has outperformed SPXS.L with an annualized return of 12.42%, while SPXS.L has yielded a comparatively lower -27.39% annualized 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%
SPXS.L
- 1D
- -0.12%
- 1M
- -0.05%
- 6M
- 9.96%
- YTD
- 10.20%
- 1Y
- -98.78%
- 3Y*
- -74.11%
- 5Y*
- -54.94%
- 10Y*
- -27.39%
ACWD.L vs. SPXS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -9.85% | 24.09% |
SPXS.L Invesco S&P 500 UCITS ETF | 10.20% | -98.82% | 25.56% | 27.00% | -18.53% | 29.64% | 17.89% | 30.86% | -5.19% | 21.62% |
Correlation
The correlation between ACWD.L and SPXS.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 16, 2011 | 0.92 |
The correlation between ACWD.L and SPXS.L has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
ACWD.L vs. SPXS.L — Risk / Return Rank
ACWD.L
SPXS.L
ACWD.L vs. SPXS.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 Invesco S&P 500 UCITS ETF (SPXS.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 | SPXS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.81 | ||
| Sortino ratioReturn per unit of downside risk | +3.51 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.52 | +0.81 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | -1.00 | +3.71 |
| Martin ratioReturn relative to average drawdown | 10.81 | -1.23 | +12.04 |
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Drawdowns
ACWD.L vs. SPXS.L - Drawdown Comparison
The maximum ACWD.L drawdown since its inception was -33.64%, smaller than the maximum SPXS.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for ACWD.L and SPXS.L.
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Drawdown Indicators
| ACWD.L | SPXS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.64% | -99.07% | +65.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -99.07% | +90.34% |
Max Drawdown (3Y)Largest decline over 3 years | -16.51% | -99.07% | +82.56% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -99.07% | +72.89% |
Max Drawdown (10Y)Largest decline over 10 years | -33.64% | -99.07% | +65.43% |
Current DrawdownCurrent decline from peak | -1.08% | -98.90% | +97.82% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -7.67% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 80.57% | -78.37% |
Volatility
ACWD.L vs. SPXS.L - Volatility Comparison
SPDR MSCI All Country World UCITS ETF (ACWD.L) has a higher volatility of 3.28% compared to Invesco S&P 500 UCITS ETF (SPXS.L) at 2.73%. This indicates that ACWD.L's price experiences larger fluctuations and is considered to be riskier than SPXS.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.L | SPXS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 2.73% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.70% | 9.24% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.03% | 99.43% | -86.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.66% | 47.13% | -31.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.73% | 35.27% | -19.54% |
ACWD.L vs. SPXS.L - Expense Ratio Comparison
ACWD.L has a 0.12% expense ratio, which is higher than SPXS.L's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ACWD.L vs. SPXS.L - Dividend Comparison
Neither ACWD.L nor SPXS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, ACWD.L and SPXS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPXS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS.L is cheaper with a 0.05% expense ratio, compared with 0.12% for ACWD.L.
ACWD.L tracks MSCI ACWI Index, while SPXS.L tracks Invesco S&P 500 UCITS ETF. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.12% for ACWD.L and 0.05% for SPXS.L.
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