ACWI vs. FYLD

Last updated Jul 17, 2026

ACWI (iShares MSCI ACWI ETF) and FYLD (Cambria Foreign Shareholder Yield ETF) are both Global Equities funds. ACWI is passively managed, while FYLD is actively managed. Over the past 10 years, ACWI returned 12.50%/yr vs 11.43%/yr for FYLD. A 0.75 correlation means they provide meaningful diversification when combined. ACWI charges 0.32%/yr vs 0.59%/yr for FYLD.

Performance

ACWI vs. FYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI ETF (ACWI) and Cambria Foreign Shareholder Yield ETF (FYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACWI achieves a 11.23% return, which is significantly lower than FYLD's 18.20% return. Over the past 10 years, ACWI has outperformed FYLD with an annualized return of 12.50%, while FYLD has yielded a comparatively lower 11.43% annualized return.

ACWI

• 1D: -0.74%
• 1M: -0.62%
• 6M: 8.53%
• YTD: 11.23%
• 1Y: 22.75%
• 3Y*: 18.82%
• 5Y*: 11.06%
• 10Y*: 12.50%

FYLD

• 1D: -0.35%
• 1M: -0.76%
• 6M: 14.09%
• YTD: 18.20%
• 1Y: 34.06%
• 3Y*: 20.35%
• 5Y*: 12.38%
• 10Y*: 11.43%

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

ACWI vs. FYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWI iShares MSCI ACWI ETF	11.23%	22.41%	17.45%	22.27%	-18.39%	18.66%	16.34%	26.59%	-9.19%	24.33%
FYLD Cambria Foreign Shareholder Yield ETF	18.20%	34.53%	3.00%	13.18%	-5.53%	18.67%	4.17%	17.83%	-14.47%	29.81%

Correlation

The correlation between ACWI and FYLD is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 3, 2013	0.75

The correlation between ACWI and FYLD shifts across timeframes, from 0.58 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

ACWI vs. FYLD - Sectors Allocation Comparison

Sectors	ACWI	FYLD
Technology	32.5%	3.0%
Financial Services	16.1%	22.3%
Industrials	10.5%	13.7%
Consumer Cyclical	8.5%	11.8%
Healthcare	8.3%	-
Communication Services	7.7%	5.0%
Consumer Defensive	4.7%	7.9%
Energy	3.5%	23.6%
Basic Materials	3.5%	7.9%
Utilities	2.7%	4.0%
Real Estate	1.6%	-

Return for Risk

ACWI vs. FYLD — Risk / Return Rank

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

ACWI

ACWI Risk / Return Rank: 63
ACWI Sharpe Ratio Rank: 62
ACWI Sortino Ratio Rank: 61
ACWI Omega Ratio Rank: 62
ACWI Calmar Ratio Rank: 58
ACWI Martin Ratio Rank: 69

FYLD

FYLD Risk / Return Rank: 93
FYLD Sharpe Ratio Rank: 94
FYLD Sortino Ratio Rank: 94
FYLD Omega Ratio Rank: 92
FYLD Calmar Ratio Rank: 95
FYLD Martin Ratio Rank: 92

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. FYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ETF (ACWI) and Cambria Foreign Shareholder Yield ETF (FYLD). 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	FYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.82	-1.16
Sortino ratio: Return per unit of downside risk	2.32	3.90	-1.58
Omega ratio: Gain probability vs. loss probability	1.30	1.49	-0.19
Calmar ratio: Return relative to maximum drawdown	2.35	6.04	-3.69
Martin ratio: Return relative to average drawdown	10.02	18.05	-8.02

ACWI vs. FYLD - Sharpe Ratio Comparison

The current ACWI Sharpe Ratio is 1.67, which is lower than the FYLD Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of ACWI and FYLD, 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. FYLD - Drawdown Comparison

The maximum ACWI drawdown since its inception was -56.00%, which is greater than FYLD's maximum drawdown of -44.55%. Use the drawdown chart below to compare losses from any high point for ACWI and FYLD.

Drawdown Indicators

	ACWI	FYLD	Difference
Max Drawdown Largest peak-to-trough decline	-56.00%	-44.55%	-11.45%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-5.67%	-4.06%
Max Drawdown (3Y) Largest decline over 3 years	-16.55%	-15.15%	-1.40%
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	-25.12%	-1.30%
Max Drawdown (10Y) Largest decline over 10 years	-33.53%	-44.55%	+11.02%
Current Drawdown Current decline from peak	-1.62%	-1.80%	+0.18%
Average Drawdown Average peak-to-trough decline	-8.57%	-8.78%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	1.89%	+0.38%

Volatility

ACWI vs. FYLD - Volatility Comparison

iShares MSCI ACWI ETF (ACWI) and Cambria Foreign Shareholder Yield ETF (FYLD) have volatilities of 3.85% and 3.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWI	FYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	3.78%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	9.66%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	13.72%	12.13%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.21%	16.25%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	17.74%	-0.70%

ACWI vs. FYLD - Expense Ratio Comparison

ACWI has a 0.32% expense ratio, which is lower than FYLD's 0.59% expense ratio.

Dividends

ACWI vs. FYLD - Dividend Comparison

ACWI's dividend yield for the trailing twelve months is around 1.44%, less than FYLD's 3.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.44%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
FYLD Cambria Foreign Shareholder Yield ETF	3.41%	4.07%	5.41%	6.06%	6.13%	4.74%	3.94%	3.73%	5.17%	2.85%	2.72%	3.98%

Frequently Asked Questions

Can I hold both ACWI and FYLD in my portfolio?

ACWI and FYLD have a correlation of 0.58, 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 FYLD?

ACWI has higher volatility (3.85%) compared to FYLD (3.78%). In terms of maximum drawdown, ACWI dropped -56.00% vs FYLD's -44.55%.

Which ETF is better, ACWI or FYLD?

On 10-year performance, ACWI leads with 12.50% vs 11.43% for FYLD. On fees, ACWI is cheaper at 0.32% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACWI or FYLD?

Over the 10-year period, ACWI has performed better with a 12.50% return vs 11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACWI or FYLD?

ACWI is cheaper with a 0.32% expense ratio, compared with 0.59% for FYLD.

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

FYLD has the higher dividend yield at 3.41%, compared with 1.44% for ACWI.

What is the main difference between ACWI and FYLD?

They also come from different issuers: iShares and Cambria. Their fees differ too: 0.32% for ACWI and 0.59% for FYLD.

Which has better risk-adjusted returns?

FYLD currently has the higher Sharpe Ratio (2.82 vs 1.67), 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.