ACWI vs. FDVV

Last updated Jun 14, 2026

ACWI (iShares MSCI ACWI ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - ACWI is a Global Equities fund tracking the MSCI All Country World Index, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Both are passively managed. Over the past 5 years, ACWI returned 10.88%/yr vs 13.53%/yr for FDVV. Their correlation of 0.87 suggests significant overlap in exposure. ACWI charges 0.32%/yr vs 0.29%/yr for FDVV.

Performance

ACWI vs. FDVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI ETF (ACWI) and Fidelity High Dividend ETF (FDVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACWI achieves a 10.59% return, which is significantly higher than FDVV's 9.30% return.

ACWI

• 1D: 0.41%
• 1M: 1.55%
• YTD: 10.59%
• 6M: 11.34%
• 1Y: 26.86%
• 3Y*: 19.78%
• 5Y*: 10.88%
• 10Y*: 13.02%

FDVV

• 1D: 0.57%
• 1M: 3.73%
• YTD: 9.30%
• 6M: 9.44%
• 1Y: 23.92%
• 3Y*: 19.75%
• 5Y*: 13.53%
• 10Y*: —

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

ACWI vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWI iShares MSCI ACWI ETF	10.59%	22.41%	17.45%	22.27%	-18.39%	18.66%	16.34%	26.59%	-9.19%	24.33%
FDVV Fidelity High Dividend ETF	9.30%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%

Correlation

The correlation between ACWI and FDVV is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.87

The correlation between ACWI and FDVV has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

ACWI vs. FDVV - Sectors Allocation Comparison

Sectors	ACWI	FDVV
Technology	32.2%	30.5%
Financial Services	15.6%	17.0%
Industrials	10.2%	3.0%
Consumer Cyclical	8.7%	13.6%
Communication Services	8.2%	3.6%
Healthcare	8.1%	3.0%
Consumer Defensive	4.7%	10.7%
Energy	3.9%	-
Basic Materials	3.6%	-
Utilities	2.7%	8.6%
Real Estate	1.6%	9.9%

Return for Risk

ACWI vs. FDVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACWI

ACWI Risk / Return Rank: 67
ACWI Sharpe Ratio Rank: 67
ACWI Sortino Ratio Rank: 66
ACWI Omega Ratio Rank: 67
ACWI Calmar Ratio Rank: 61
ACWI Martin Ratio Rank: 71

FDVV

FDVV Risk / Return Rank: 73
FDVV Sharpe Ratio Rank: 81
FDVV Sortino Ratio Rank: 82
FDVV Omega Ratio Rank: 81
FDVV Calmar Ratio Rank: 56
FDVV Martin Ratio Rank: 64

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 vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ETF (ACWI) and Fidelity High Dividend ETF (FDVV). 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.

	ACWI	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.24	-0.34
Sortino ratio: Return per unit of downside risk	2.62	3.14	-0.52
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.07
Calmar ratio: Return relative to maximum drawdown	2.62	2.44	+0.18
Martin ratio: Return relative to average drawdown	11.46	10.11	+1.35

ACWI vs. FDVV - Sharpe Ratio Comparison

The current ACWI Sharpe Ratio is 1.90, which is comparable to the FDVV Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of ACWI and FDVV, 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

ACWI vs. FDVV - Drawdown Comparison

The maximum ACWI drawdown since its inception was -56.00%, which is greater than FDVV's maximum drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for ACWI and FDVV.

Drawdown Indicators

	ACWI	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-56.00%	-40.25%	-15.75%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-9.30%	-0.43%
Max Drawdown (3Y) Largest decline over 3 years	-16.55%	-15.90%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	-20.18%	-6.24%
Max Drawdown (10Y) Largest decline over 10 years	-33.53%	—	—
Current Drawdown Current decline from peak	-2.19%	-0.29%	-1.90%
Average Drawdown Average peak-to-trough decline	-8.60%	-3.80%	-4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	2.24%	-0.02%

Volatility

ACWI vs. FDVV - Volatility Comparison

iShares MSCI ACWI ETF (ACWI) has a higher volatility of 5.17% compared to Fidelity High Dividend ETF (FDVV) at 3.16%. This indicates that ACWI's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWI	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	3.16%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	11.09%	8.16%	+2.93%
Volatility (1Y) Calculated over the trailing 1-year period	13.42%	10.12%	+3.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	14.76%	+1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	16.98%	+0.16%

ACWI vs. FDVV - Expense Ratio Comparison

ACWI has a 0.32% expense ratio, which is higher than FDVV's 0.29% expense ratio.

Dividends

ACWI vs. FDVV - Dividend Comparison

ACWI's dividend yield for the trailing twelve months is around 1.40%, less than FDVV's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.40%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
FDVV Fidelity High Dividend ETF	2.70%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%	0.00%

Frequently Asked Questions

Can I hold both ACWI and FDVV in my portfolio?

ACWI and FDVV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACWI or FDVV?

ACWI has higher volatility (5.17%) compared to FDVV (3.16%). In terms of maximum drawdown, ACWI dropped -56.00% vs FDVV's -40.25%.

Which ETF is better, ACWI or FDVV?

On 5-year performance, FDVV leads with 13.53% vs 10.88% for ACWI. On fees, FDVV is cheaper at 0.29% per year. On volatility, FDVV has been the lower-risk option at 3.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACWI or FDVV?

Over the 5-year period, FDVV has performed better with a 13.53% return vs 10.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACWI or FDVV?

FDVV is cheaper with a 0.29% expense ratio, compared with 0.32% for ACWI.

Which ETF pays a higher dividend yield, ACWI or FDVV?

FDVV has the higher dividend yield at 2.70%, compared with 1.40% for ACWI.

What is the main difference between ACWI and FDVV?

ACWI is categorized as Global Equities, while FDVV is Large Cap Blend Equities. ACWI tracks MSCI All Country World Index, while FDVV tracks Fidelity Core Dividend Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.32% for ACWI and 0.29% for FDVV.

Which has better risk-adjusted returns?

FDVV currently has the higher Sharpe Ratio (2.24 vs 1.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.