ACWI.L vs. IBGM.L
ACWI.L (SPDR MSCI ACWI UCITS ETF) and IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both exchange-traded funds - ACWI.L is a Global Equities fund tracking the MSCI ACWI NR USD, while IBGM.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, ACWI.L returned 13.66%/yr vs 31.19%/yr for IBGM.L. At a 0.13 correlation, their price movements are largely independent. ACWI.L charges 0.40%/yr vs 0.15%/yr for IBGM.L.
Performance
ACWI.L vs. IBGM.L - Performance Comparison
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Returns By Period
In the year-to-date period, ACWI.L achieves a 11.87% return, which is significantly higher than IBGM.L's -2.55% return. Over the past 10 years, ACWI.L has underperformed IBGM.L with an annualized return of 13.66%, while IBGM.L has yielded a comparatively higher 31.19% annualized return.
ACWI.L
- 1D
- -0.37%
- 1M
- 5.83%
- YTD
- 11.87%
- 6M
- 12.47%
- 1Y
- 30.54%
- 3Y*
- 18.34%
- 5Y*
- 12.53%
- 10Y*
- 13.66%
IBGM.L
- 1D
- -0.45%
- 1M
- -1.02%
- YTD
- -2.55%
- 6M
- -2.91%
- 1Y
- -0.23%
- 3Y*
- 1.60%
- 5Y*
- 39.44%
- 10Y*
- 31.19%
ACWI.L vs. IBGM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACWI.L SPDR MSCI ACWI UCITS ETF | 11.87% | 14.32% | 19.66% | 15.59% | -8.59% | 20.28% | 11.89% | 21.92% | -4.58% | 12.93% |
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.55% | 5.38% | -3.53% | 465.78% | -3.14% | -9.55% | 20.87% | 117.65% | 2.05% | 4.56% |
Correlation
The correlation between ACWI.L and IBGM.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2011 | 0.13 |
The correlation between ACWI.L and IBGM.L shifts across timeframes, from 0.09 (5 years) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ACWI.L vs. IBGM.L — Risk / Return Rank
ACWI.L
IBGM.L
ACWI.L vs. IBGM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI UCITS ETF (ACWI.L) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.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.
| ACWI.L | IBGM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.96 | ||
| Sortino ratioReturn per unit of downside risk | +4.03 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.00 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 4.31 | -0.04 | +4.35 |
| Martin ratioReturn relative to average drawdown | 17.47 | -0.08 | +17.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ACWI.L | IBGM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.92 | -0.04 | +2.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 0.20 | +0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.95 | 0.22 | +0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.21 | +0.59 |
Drawdowns
ACWI.L vs. IBGM.L - Drawdown Comparison
The maximum ACWI.L drawdown since its inception was -25.44%, roughly equal to the maximum IBGM.L drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for ACWI.L and IBGM.L.
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Drawdown Indicators
| ACWI.L | IBGM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.44% | -26.66% | +1.22% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -6.20% | -0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -18.07% | -6.85% | -11.22% |
Max Drawdown (5Y)Largest decline over 5 years | -18.07% | -21.27% | +3.20% |
Max Drawdown (10Y)Largest decline over 10 years | -25.44% | -26.66% | +1.22% |
Current DrawdownCurrent decline from peak | -0.37% | -5.70% | +5.33% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -4.98% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 2.82% | -1.08% |
Volatility
ACWI.L vs. IBGM.L - Volatility Comparison
SPDR MSCI ACWI UCITS ETF (ACWI.L) has a higher volatility of 2.89% compared to iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) at 2.59%. This indicates that ACWI.L's price experiences larger fluctuations and is considered to be riskier than IBGM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACWI.L | IBGM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 2.59% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 7.76% | 4.93% | +2.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.45% | 6.31% | +4.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.05% | 193.47% | -180.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.39% | 138.66% | -124.27% |
ACWI.L vs. IBGM.L - Expense Ratio Comparison
ACWI.L has a 0.40% expense ratio, which is higher than IBGM.L's 0.15% expense ratio.
Dividends
ACWI.L vs. IBGM.L - Dividend Comparison
Neither ACWI.L nor IBGM.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI.L SPDR MSCI ACWI 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% |
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.00% | 1.33% | 2.78% | 79.03% | 13.18% | 0.00% | 8.74% | 63.75% | 0.74% | 0.74% | 0.77% | 1.07% |
Frequently Asked Questions
ACWI.L and IBGM.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBGM.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBGM.L is cheaper with a 0.15% expense ratio, compared with 0.40% for ACWI.L.
ACWI.L is categorized as Global Equities, while IBGM.L is European Government Bonds. ACWI.L tracks MSCI ACWI NR USD, while IBGM.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for ACWI.L and 0.15% for IBGM.L.
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