ACWD.L vs. UTIL.L

Last updated Jun 26, 2026

ACWD.L (SPDR MSCI All Country World UCITS ETF) and UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) are both exchange-traded funds - ACWD.L is a Global Equities fund tracking the MSCI ACWI Index, while UTIL.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD. Both are passively managed. Over the past 10 years, ACWD.L returned 13.21%/yr vs 12.24%/yr for UTIL.L. A 0.50 correlation means they provide meaningful diversification when combined. ACWD.L charges 0.12%/yr vs 0.18%/yr for UTIL.L.

Performance

ACWD.L vs. UTIL.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 Europe Utilities UCITS ETF (UTIL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ACWD.L is traded in USD, while UTIL.L is traded in EUR. To make them comparable, the UTIL.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 9.55% return, which is significantly lower than UTIL.L's 13.44% return. Over the past 10 years, ACWD.L has outperformed UTIL.L with an annualized return of 13.21%, while UTIL.L has yielded a comparatively lower 12.24% annualized return.

ACWD.L

• 1D: -0.10%
• 1M: -0.99%
• YTD: 9.55%
• 6M: 9.41%
• 1Y: 24.91%
• 3Y*: 20.15%
• 5Y*: 10.76%
• 10Y*: 13.21%

UTIL.L

• 1D: 1.70%
• 1M: -1.44%
• YTD: 13.44%
• 6M: 14.28%
• 1Y: 26.31%
• 3Y*: 19.76%
• 5Y*: 11.62%
• 10Y*: 12.24%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWD.L SPDR MSCI All Country World UCITS ETF	9.55%	22.83%	17.76%	22.27%	-18.37%	18.77%	15.91%	25.80%	-9.85%	24.09%
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	13.44%	51.98%	-4.93%	16.67%	-12.37%	0.89%	21.72%	26.80%	-1.46%	24.75%

Correlation

The correlation between ACWD.L and UTIL.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 9, 2014	0.50

Over the past year, the correlation between ACWD.L and UTIL.L has dropped to 0.29 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

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

Sectors	ACWD.L	UTIL.L
Technology	33.5%	-
Financial Services	15.7%	-
Industrials	10.2%	4.7%
Consumer Cyclical	8.8%	-
Communication Services	8.8%	-
Healthcare	7.6%	-
Consumer Defensive	4.5%	-
Energy	3.6%	-
Basic Materials	3.3%	-
Utilities	2.5%	95.3%
Real Estate	1.6%	-

Return for Risk

ACWD.L vs. UTIL.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: 70
ACWD.L Sharpe Ratio Rank: 69
ACWD.L Sortino Ratio Rank: 75
ACWD.L Omega Ratio Rank: 69
ACWD.L Calmar Ratio Rank: 66
ACWD.L Martin Ratio Rank: 71

UTIL.L

UTIL.L Risk / Return Rank: 71
UTIL.L Sharpe Ratio Rank: 70
UTIL.L Sortino Ratio Rank: 63
UTIL.L Omega Ratio Rank: 68
UTIL.L Calmar Ratio Rank: 84
UTIL.L Martin Ratio Rank: 67

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. UTIL.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 Europe Utilities UCITS ETF (UTIL.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	UTIL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.58	+0.35
Sortino ratio: Return per unit of downside risk	2.88	2.07	+0.81
Omega ratio: Gain probability vs. loss probability	1.36	1.28	+0.08
Calmar ratio: Return relative to maximum drawdown	2.84	2.92	-0.08
Martin ratio: Return relative to average drawdown	11.47	7.71	+3.75

ACWD.L vs. UTIL.L - Sharpe Ratio Comparison

The current ACWD.L Sharpe Ratio is 1.93, which is comparable to the UTIL.L Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of ACWD.L and UTIL.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.

Drawdowns

ACWD.L vs. UTIL.L - Drawdown Comparison

The maximum ACWD.L drawdown since its inception was -33.64%, smaller than the maximum UTIL.L drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for ACWD.L and UTIL.L.

Drawdown Indicators

	ACWD.L	UTIL.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-35.43%	+1.79%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-8.98%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-17.76%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	-33.85%	+7.67%
Max Drawdown (10Y) Largest decline over 10 years	-33.64%	-35.43%	+1.79%
Current Drawdown Current decline from peak	-2.46%	-4.47%	+2.01%
Average Drawdown Average peak-to-trough decline	-4.88%	-8.22%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	3.40%	-1.23%

Volatility

ACWD.L vs. UTIL.L - Volatility Comparison

SPDR MSCI All Country World UCITS ETF (ACWD.L) has a higher volatility of 4.20% compared to SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) at 3.37%. This indicates that ACWD.L's price experiences larger fluctuations and is considered to be riskier than UTIL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWD.L	UTIL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	3.37%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	14.17%	-3.65%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	16.65%	-3.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.65%	19.08%	-3.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	19.19%	-3.40%

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

ACWD.L has a 0.12% expense ratio, which is lower than UTIL.L's 0.18% expense ratio. Despite the difference, 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. UTIL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

ACWD.L and UTIL.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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.

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

ACWD.L is cheaper with a 0.12% expense ratio, compared with 0.18% for UTIL.L.

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

ACWD.L is categorized as Global Equities, while UTIL.L is Utilities Equities. ACWD.L tracks MSCI ACWI Index, while UTIL.L tracks MSCI World/Utilities NR USD. Their fees differ too: 0.12% for ACWD.L and 0.18% for UTIL.L.