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ACWD.L vs. SPY5.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ACWD.L vs. SPY5.L

Last updated Jun 4, 2026

ACWD.L (SPDR MSCI All Country World UCITS ETF) and SPY5.L (State Street SPDR S&P 500 UCITS ETF) are both exchange-traded funds - ACWD.L is a Global Equities fund tracking the MSCI ACWI Index, while SPY5.L is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past 10 years, ACWD.L returned 12.77%/yr vs 15.46%/yr for SPY5.L. Their correlation of 0.91 suggests significant overlap in exposure. ACWD.L charges 0.12%/yr vs 0.09%/yr for SPY5.L.

Performance

ACWD.L vs. SPY5.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 State Street SPDR S&P 500 UCITS ETF (SPY5.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ACWD.L achieves a 11.57% return, which is significantly higher than SPY5.L's 10.31% return. Over the past 10 years, ACWD.L has underperformed SPY5.L with an annualized return of 12.77%, while SPY5.L has yielded a comparatively higher 15.46% annualized 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%

SPY5.L

1D
-0.55%
1M
4.49%
YTD
10.31%
6M
11.16%
1Y
28.27%
3Y*
22.32%
5Y*
13.71%
10Y*
15.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ACWD.L vs. SPY5.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%-9.85%24.09%
SPY5.L
State Street SPDR S&P 500 UCITS ETF		10.31%17.43%25.36%26.64%-18.68%29.28%17.52%30.85%-5.09%22.58%

Correlation

The correlation between ACWD.L and SPY5.L is 0.96 - 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

0.96

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 Mar 28, 2012

0.91

The correlation between ACWD.L and SPY5.L has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

ACWD.L vs. SPY5.L - Sectors Allocation Comparison

Sectors
ACWD.L
SPY5.L

Technology

29.2%
38.0%

Financial Services

16.5%
11.3%

Industrials

10.9%
7.6%

Consumer Cyclical

9.3%
9.8%

Communication Services

9.0%
10.6%

Healthcare

8.0%
8.4%

Consumer Defensive

4.9%
4.7%

Energy

4.3%
3.4%

Basic Materials

3.6%
1.7%

Utilities

2.7%
2.6%

Real Estate

1.7%
1.8%

Technology

ACWD.L
29.2%
SPY5.L
38.0%

Financial Services

ACWD.L
16.5%
SPY5.L
11.3%

Industrials

ACWD.L
10.9%
SPY5.L
7.6%

Consumer Cyclical

ACWD.L
9.3%
SPY5.L
9.8%

Communication Services

ACWD.L
9.0%
SPY5.L
10.6%

Healthcare

ACWD.L
8.0%
SPY5.L
8.4%

Consumer Defensive

ACWD.L
4.9%
SPY5.L
4.7%

Energy

ACWD.L
4.3%
SPY5.L
3.4%

Basic Materials

ACWD.L
3.6%
SPY5.L
1.7%

Utilities

ACWD.L
2.7%
SPY5.L
2.6%

Real Estate

ACWD.L
1.7%
SPY5.L
1.8%

Compare stocks, funds, or ETFs

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SPDR MSCI All Country World UCITS ETF

State Street SPDR S&P 500 UCITS ETF

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Often compared with SPY5.L:
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Return for Risk

ACWD.L vs. SPY5.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
SPY5.L
SPY5.L Risk / Return Rank: 7474
Overall Rank
SPY5.L Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SPY5.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
SPY5.L Omega Ratio Rank: 7373
Omega Ratio Rank
SPY5.L Calmar Ratio Rank: 6868
Calmar Ratio Rank
SPY5.L Martin Ratio Rank: 7676
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. SPY5.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 State Street SPDR S&P 500 UCITS ETF (SPY5.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.LSPY5.LDifference
Sharpe ratioReturn per unit of total volatility
2.36
2.43

-0.07

Sortino ratioReturn per unit of downside risk
3.49
3.56

-0.07

Omega ratioGain probability vs. loss probability

1.44

1.44

-0.01

Calmar ratioReturn relative to maximum drawdown

3.39

3.44

-0.05

Martin ratioReturn relative to average drawdown

14.15

14.88

-0.73

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. SPY5.L - Sharpe Ratio Comparison

The current ACWD.L Sharpe Ratio is 2.36, which is comparable to the SPY5.L Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of ACWD.L and SPY5.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.LSPY5.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

2.43

-0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.86

-0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.80

0.95

-0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.95

-0.22

Drawdowns

ACWD.L vs. SPY5.L - Drawdown Comparison

The maximum ACWD.L drawdown since its inception was -33.64%, roughly equal to the maximum SPY5.L drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for ACWD.L and SPY5.L.

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Drawdown Indicators

ACWD.LSPY5.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.64%

-33.89%

+0.25%

Max Drawdown (1Y)

Largest decline over 1 year

-8.73%

-8.18%

-0.55%

Max Drawdown (3Y)

Largest decline over 3 years

-16.51%

-18.37%

+1.86%

Max Drawdown (5Y)

Largest decline over 5 years

-26.18%

-24.37%

-1.81%

Max Drawdown (10Y)

Largest decline over 10 years

-33.64%

-33.89%

+0.25%

Current Drawdown

Current decline from peak

-0.66%

-0.55%

-0.11%

Average Drawdown

Average peak-to-trough decline

-4.67%

-3.70%

-0.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

1.90%

+0.19%

Volatility

ACWD.L vs. SPY5.L - Volatility Comparison

SPDR MSCI All Country World UCITS ETF (ACWD.L) has a higher volatility of 3.87% compared to State Street SPDR S&P 500 UCITS ETF (SPY5.L) at 3.17%. This indicates that ACWD.L's price experiences larger fluctuations and is considered to be riskier than SPY5.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.LSPY5.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.87%

3.17%

+0.70%

Volatility (6M)

Calculated over the trailing 6-month period

9.89%

8.49%

+1.40%

Volatility (1Y)

Calculated over the trailing 1-year period

12.56%

11.63%

+0.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.58%

15.92%

-0.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.85%

16.24%

-0.39%

ACWD.L vs. SPY5.L - Expense Ratio Comparison

ACWD.L has a 0.12% expense ratio, which is higher than SPY5.L's 0.09% 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. SPY5.L - Dividend Comparison

ACWD.L has not paid dividends to shareholders, while SPY5.L's dividend yield for the trailing twelve months is around 0.89%.

PositionTTM20252024202320222021202020192018201720162015
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%
SPY5.L
State Street SPDR S&P 500 UCITS ETF		0.89%0.97%1.06%1.19%1.40%0.99%1.28%1.71%2.20%2.29%1.64%1.73%

Frequently Asked Questions

With a correlation of 0.96, ACWD.L and SPY5.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, SPY5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPY5.L is cheaper with a 0.09% expense ratio, compared with 0.12% for ACWD.L.

ACWD.L is categorized as Global Equities, while SPY5.L is S&P 500. ACWD.L tracks MSCI ACWI Index, while SPY5.L tracks S&P 500. Their fees differ too: 0.12% for ACWD.L and 0.09% for SPY5.L.

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