ACWD.L vs. SWLD.L

Last updated Jun 4, 2026

ACWD.L (SPDR MSCI All Country World UCITS ETF) and SWLD.L (SPDR MSCI World UCITS ETF) are both Global Equities funds from State Street - ACWD.L tracks the MSCI ACWI Index while SWLD.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, ACWD.L returned 11.33%/yr vs 11.96%/yr for SWLD.L. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.

Performance

ACWD.L vs. SWLD.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 SPDR MSCI World UCITS ETF (SWLD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ACWD.L is traded in USD, while SWLD.L is traded in GBP. To make them comparable, the SWLD.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 higher than SWLD.L's 9.70% 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%

SWLD.L

• 1D: -0.55%
• 1M: 4.14%
• YTD: 9.70%
• 6M: 11.00%
• 1Y: 26.43%
• 3Y*: 20.98%
• 5Y*: 11.96%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ACWD.L SPDR MSCI All Country World UCITS ETF	11.57%	22.83%	17.76%	22.27%	-18.37%	18.77%	15.91%	13.78%
SWLD.L SPDR MSCI World UCITS ETF	9.70%	21.37%	19.18%	23.91%	-17.89%	22.54%	15.43%	15.13%

Correlation

The correlation between ACWD.L and SWLD.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019	0.92

The correlation between ACWD.L and SWLD.L has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

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

Sectors	ACWD.L	SWLD.L
Technology	29.2%	28.3%
Financial Services	16.5%	15.7%
Industrials	10.9%	11.4%
Consumer Cyclical	9.3%	9.3%
Communication Services	9.0%	9.2%
Healthcare	8.0%	8.8%
Consumer Defensive	4.9%	5.2%
Energy	4.3%	4.2%
Basic Materials	3.6%	3.3%
Utilities	2.7%	2.7%
Real Estate	1.7%	1.9%

Return for Risk

ACWD.L vs. SWLD.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: 72
ACWD.L Sharpe Ratio Rank: 70
ACWD.L Sortino Ratio Rank: 76
ACWD.L Omega Ratio Rank: 71
ACWD.L Calmar Ratio Rank: 67
ACWD.L Martin Ratio Rank: 73

SWLD.L

SWLD.L Risk / Return Rank: 81
SWLD.L Sharpe Ratio Rank: 81
SWLD.L Sortino Ratio Rank: 81
SWLD.L Omega Ratio Rank: 83
SWLD.L Calmar Ratio Rank: 79
SWLD.L Martin Ratio Rank: 82

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. SWLD.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 SPDR MSCI World UCITS ETF (SWLD.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	SWLD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.34	+0.02
Sortino ratio: Return per unit of downside risk	3.49	3.43	+0.05
Omega ratio: Gain probability vs. loss probability	1.44	1.42	+0.01
Calmar ratio: Return relative to maximum drawdown	3.39	3.07	+0.32
Martin ratio: Return relative to average drawdown	14.15	13.55	+0.59
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. SWLD.L - Sharpe Ratio Comparison

The current ACWD.L Sharpe Ratio is 2.36, which is comparable to the SWLD.L Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of ACWD.L and SWLD.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	SWLD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.34	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.79	-0.06
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	0.84	-0.11

Drawdowns

ACWD.L vs. SWLD.L - Drawdown Comparison

The maximum ACWD.L drawdown since its inception was -33.64%, roughly equal to the maximum SWLD.L drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for ACWD.L and SWLD.L.

Drawdown Indicators

	ACWD.L	SWLD.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-33.63%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-8.58%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-17.65%	+1.14%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	-26.17%	-0.01%
Max Drawdown (10Y) Largest decline over 10 years	-33.64%	—	—
Current Drawdown Current decline from peak	-0.66%	-0.55%	-0.11%
Average Drawdown Average peak-to-trough decline	-4.67%	-5.02%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	1.95%	+0.14%

Volatility

ACWD.L vs. SWLD.L - Volatility Comparison

SPDR MSCI All Country World UCITS ETF (ACWD.L) has a higher volatility of 3.87% compared to SPDR MSCI World UCITS ETF (SWLD.L) at 2.69%. This indicates that ACWD.L's price experiences larger fluctuations and is considered to be riskier than SWLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWD.L	SWLD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	2.69%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	8.46%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	12.56%	11.27%	+1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	15.23%	+0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.85%	17.07%	-1.22%

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

Both ACWD.L and SWLD.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ACWD.L vs. SWLD.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.92, ACWD.L and SWLD.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.

Which ETF is better, ACWD.L or SWLD.L?

Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACWD.L or SWLD.L?

ACWD.L and SWLD.L have the same expense ratio: 0.12% per year.

What is the main difference between ACWD.L and SWLD.L?

ACWD.L tracks MSCI ACWI Index, while SWLD.L tracks MSCI ACWI NR USD.