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ACWI.L vs. SPX5.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ACWI.L vs. SPX5.L

Last updated Jun 4, 2026

ACWI.L (SPDR MSCI ACWI UCITS ETF) and SPX5.L (SPDR S&P 500 UCITS ETF) are both exchange-traded funds - ACWI.L is a Global Equities fund tracking the MSCI ACWI NR USD, while SPX5.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, ACWI.L returned 13.66%/yr vs 16.32%/yr for SPX5.L. With a 0.95 correlation, they move nearly in lockstep. ACWI.L charges 0.40%/yr vs 0.09%/yr for SPX5.L.

Performance

ACWI.L vs. SPX5.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI ACWI UCITS ETF (ACWI.L) and SPDR S&P 500 UCITS ETF (SPX5.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, ACWI.L achieves a 11.87% return, which is significantly higher than SPX5.L's 10.48% return. Over the past 10 years, ACWI.L has underperformed SPX5.L with an annualized return of 13.66%, while SPX5.L has yielded a comparatively higher 16.32% 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%

SPX5.L

1D
-0.28%
1M
5.91%
YTD
10.48%
6M
10.36%
1Y
29.09%
3Y*
19.31%
5Y*
14.91%
10Y*
16.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ACWI.L vs. SPX5.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
SPX5.L
SPDR S&P 500 UCITS ETF		10.48%9.34%27.47%19.75%-9.01%30.96%13.52%26.74%-0.04%11.63%

Correlation

The correlation between ACWI.L and SPX5.L is 0.94, 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

0.94

Correlation (3Y)
Calculated over the trailing 3-year period

0.94

Correlation (5Y)
Calculated over the trailing 5-year period

0.95

Correlation (10Y)
Calculated over the trailing 10-year period

0.95

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2012

0.95

The correlation between ACWI.L and SPX5.L has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

ACWI.L vs. SPX5.L - Sectors Allocation Comparison

Sectors
ACWI.L
SPX5.L

Technology

29.2%
35.6%

Financial Services

16.5%
11.8%

Industrials

10.9%
8.3%

Consumer Cyclical

9.3%
10.1%

Communication Services

9.0%
11.2%

Healthcare

8.0%
8.5%

Consumer Defensive

4.9%
4.9%

Energy

4.3%
3.5%

Basic Materials

3.6%
1.8%

Utilities

2.7%
2.3%

Real Estate

1.7%
1.9%

Technology

ACWI.L
29.2%
SPX5.L
35.6%

Financial Services

ACWI.L
16.5%
SPX5.L
11.8%

Industrials

ACWI.L
10.9%
SPX5.L
8.3%

Consumer Cyclical

ACWI.L
9.3%
SPX5.L
10.1%

Communication Services

ACWI.L
9.0%
SPX5.L
11.2%

Healthcare

ACWI.L
8.0%
SPX5.L
8.5%

Consumer Defensive

ACWI.L
4.9%
SPX5.L
4.9%

Energy

ACWI.L
4.3%
SPX5.L
3.5%

Basic Materials

ACWI.L
3.6%
SPX5.L
1.8%

Utilities

ACWI.L
2.7%
SPX5.L
2.3%

Real Estate

ACWI.L
1.7%
SPX5.L
1.9%

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SPDR MSCI ACWI UCITS ETF

SPDR S&P 500 UCITS ETF

Often compared with ACWI.L:
ACWI.L vs. VWCE.DEACWI.L vs. ACWIACWI.L vs. IWDA.LACWI.L vs. SPYACWI.L vs. SSAC.LACWI.L vs. CSPX.ASACWI.L vs. IMID.L
Often compared with SPX5.L:
SPX5.L vs. SPYSPX5.L vs. SPXP.LSPX5.L vs. VUSA.DESPX5.L vs. VUSA.LSPX5.L vs. VOOSPX5.L vs. IUSA.LSPX5.L vs. EQQQ.L

Return for Risk

ACWI.L vs. SPX5.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ACWI.L
ACWI.L Risk / Return Rank: 8585
Overall Rank
ACWI.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
ACWI.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
ACWI.L Omega Ratio Rank: 8888
Omega Ratio Rank
ACWI.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
ACWI.L Martin Ratio Rank: 8484
Martin Ratio Rank
SPX5.L
SPX5.L Risk / Return Rank: 8181
Overall Rank
SPX5.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SPX5.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
SPX5.L Omega Ratio Rank: 8484
Omega Ratio Rank
SPX5.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
SPX5.L Martin Ratio Rank: 7777
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.

ACWI.L vs. SPX5.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI UCITS ETF (ACWI.L) and SPDR S&P 500 UCITS ETF (SPX5.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.LSPX5.LDifference
Sharpe ratioReturn per unit of total volatility
2.92
2.76

+0.16

Sortino ratioReturn per unit of downside risk
4.02
3.70

+0.32

Omega ratioGain probability vs. loss probability

1.56

1.52

+0.04

Calmar ratioReturn relative to maximum drawdown

4.31

4.09

+0.22

Martin ratioReturn relative to average drawdown

17.47

15.04

+2.42

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACWI.L vs. SPX5.L - Sharpe Ratio Comparison

The current ACWI.L Sharpe Ratio is 2.92, which is comparable to the SPX5.L Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of ACWI.L and SPX5.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

ACWI.LSPX5.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.92

2.76

+0.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.96

1.05

-0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.95

1.05

-0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.81

1.04

-0.23

Drawdowns

ACWI.L vs. SPX5.L - Drawdown Comparison

The maximum ACWI.L drawdown since its inception was -25.44%, roughly equal to the maximum SPX5.L drawdown of -25.45%. Use the drawdown chart below to compare losses from any high point for ACWI.L and SPX5.L.

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Drawdown Indicators

ACWI.LSPX5.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.44%

-25.45%

+0.01%

Max Drawdown (1Y)

Largest decline over 1 year

-7.05%

-7.07%

+0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-18.07%

-20.90%

+2.83%

Max Drawdown (5Y)

Largest decline over 5 years

-18.07%

-20.90%

+2.83%

Max Drawdown (10Y)

Largest decline over 10 years

-25.44%

-25.45%

+0.01%

Current Drawdown

Current decline from peak

-0.37%

-0.28%

-0.09%

Average Drawdown

Average peak-to-trough decline

-3.67%

-3.18%

-0.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.74%

1.93%

-0.19%

Volatility

ACWI.L vs. SPX5.L - Volatility Comparison

SPDR MSCI ACWI UCITS ETF (ACWI.L) has a higher volatility of 2.89% compared to SPDR S&P 500 UCITS ETF (SPX5.L) at 2.67%. This indicates that ACWI.L's price experiences larger fluctuations and is considered to be riskier than SPX5.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.LSPX5.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.89%

2.67%

+0.22%

Volatility (6M)

Calculated over the trailing 6-month period

7.76%

7.17%

+0.59%

Volatility (1Y)

Calculated over the trailing 1-year period

10.45%

10.57%

-0.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.05%

14.22%

-1.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.39%

15.52%

-1.13%

ACWI.L vs. SPX5.L - Expense Ratio Comparison

ACWI.L has a 0.40% expense ratio, which is higher than SPX5.L's 0.09% expense ratio.

Dividends

ACWI.L vs. SPX5.L - Dividend Comparison

ACWI.L has not paid dividends to shareholders, while SPX5.L's dividend yield for the trailing twelve months is around 0.89%.

PositionTTM20252024202320222021202020192018201720162015
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%
SPX5.L
SPDR S&P 500 UCITS ETF		0.89%0.98%1.04%1.21%1.39%0.98%1.40%1.76%1.71%2.36%1.49%1.68%

Frequently Asked Questions

With a correlation of 0.94, ACWI.L and SPX5.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, SPX5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPX5.L is cheaper with a 0.09% expense ratio, compared with 0.40% for ACWI.L.

ACWI.L is categorized as Global Equities, while SPX5.L is S&P 500. ACWI.L tracks MSCI ACWI NR USD, while SPX5.L tracks S&P 500 Index. Their fees differ too: 0.40% for ACWI.L and 0.09% for SPX5.L.

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