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ACWI vs. IQLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ACWI vs. IQLT

Last updated Aug 6, 2026
Documentation

ACWI (iShares MSCI ACWI ETF) and IQLT (iShares MSCI Intl Quality Factor ETF) are both exchange-traded funds - ACWI is a Global Equities fund tracking the MSCI All Country World Index, while IQLT is a Quality Factor fund tracking the MSCI World ex USA Sector Neutral Quality Index (Net). Both are passively managed. Over the past 10 years, ACWI returned 12.69%/yr vs 9.95%/yr for IQLT. Their correlation of 0.82 means they have usually moved in the same direction. ACWI charges 0.32%/yr vs 0.30%/yr for IQLT.

Performance

ACWI vs. IQLT - Performance Comparison

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

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Returns By Period

The year-to-date returns for both investments are quite close, with ACWI having a 14.17% return and IQLT slightly higher at 14.18%. Over the past 10 years, ACWI has outperformed IQLT with an annualized return of 12.69%, while IQLT has yielded a comparatively lower 9.95% annualized return.

ACWI

1D
-0.08%
1M
1.60%
6M
11.42%
YTD
14.17%
1Y
25.54%
3Y*
20.39%
5Y*
11.20%
10Y*
12.69%
ALL TIME*
8.61%

IQLT

1D
0.31%
1M
2.30%
6M
8.93%
YTD
14.18%
1Y
24.85%
3Y*
16.08%
5Y*
7.93%
10Y*
9.95%
ALL TIME*
8.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ACWI

iShares MSCI ACWI ETF
$416.62M$465.89M$498.47M

IQLT

iShares MSCI Intl Quality Factor ETF
$81.71M$81.20M$71.60M

ACWI vs. IQLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ACWI
iShares MSCI ACWI ETF		14.17%22.41%17.45%22.27%-18.39%18.66%16.34%26.59%-9.19%24.33%
IQLT
iShares MSCI Intl Quality Factor ETF		14.18%25.42%1.54%18.73%-15.22%12.94%12.48%28.18%-10.76%24.04%

Correlation

The correlation between ACWI and IQLT is 0.86, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.86

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.88

Correlation (10Y)
Provides a long-term view across more market conditions.

0.87

Correlation (All Time)
Calculated using the full available price history since Jan 15, 2015

0.82

The correlation between ACWI and IQLT has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

ACWI vs. IQLT - Sectors Allocation Comparison

Sectors
ACWI
IQLT

Technology

32.7%
12.3%

Financial Services

16.0%
26.4%

Industrials

10.8%
18.0%

Consumer Cyclical

8.7%
7.7%

Healthcare

8.3%
8.8%

Communication Services

8.0%
2.4%

Consumer Defensive

4.7%
6.4%

Energy

3.6%
5.5%

Basic Materials

3.4%
6.7%

Utilities

2.4%
3.7%

Real Estate

1.6%
1.5%

Technology

ACWI
32.7%
IQLT
12.3%

Financial Services

ACWI
16.0%
IQLT
26.4%

Industrials

ACWI
10.8%
IQLT
18.0%

Consumer Cyclical

ACWI
8.7%
IQLT
7.7%

Healthcare

ACWI
8.3%
IQLT
8.8%

Communication Services

ACWI
8.0%
IQLT
2.4%

Consumer Defensive

ACWI
4.7%
IQLT
6.4%

Energy

ACWI
3.6%
IQLT
5.5%

Basic Materials

ACWI
3.4%
IQLT
6.7%

Utilities

ACWI
2.4%
IQLT
3.7%

Real Estate

ACWI
1.6%
IQLT
1.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI ACWI ETF

iShares MSCI Intl Quality Factor ETF

Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. VOOACWI vs. ACWI.LACWI vs. VTI
Often compared with IQLT:
IQLT vs. VIGIIQLT vs. IEFAIQLT vs. SPYIQLT vs. QEFAIQLT vs. ACWXIQLT vs. VOOIQLT vs. DIHRX

Return for Risk

ACWI vs. IQLT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ACWI
ACWI Risk / Return Rank: 7070
Overall Rank
ACWI Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6868
Sortino Ratio Rank
ACWI Omega Ratio Rank: 6969
Omega Ratio Rank
ACWI Calmar Ratio Rank: 6666
Calmar Ratio Rank
ACWI Martin Ratio Rank: 7676
Martin Ratio Rank
IQLT
IQLT Risk / Return Rank: 6262
Overall Rank
IQLT Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
IQLT Sortino Ratio Rank: 6262
Sortino Ratio Rank
IQLT Omega Ratio Rank: 5757
Omega Ratio Rank
IQLT Calmar Ratio Rank: 6060
Calmar Ratio Rank
IQLT Martin Ratio Rank: 6969
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ACWI vs. IQLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ETF (ACWI) and iShares MSCI Intl Quality Factor ETF (IQLT). 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.

ACWIIQLTDifference
Sharpe ratioReturn per unit of total volatility
1.83
1.66

+0.17

Sortino ratioReturn per unit of downside risk
2.54
2.37

+0.17

Omega ratioGain probability vs. loss probability

1.33

1.29

+0.04

Calmar ratioReturn relative to maximum drawdown

2.64

2.41

+0.23

Martin ratioReturn relative to average drawdown

11.01

9.61

+1.40

ACWI vs. IQLT - Sharpe Ratio Comparison

The current ACWI Sharpe Ratio is 1.83, which is comparable to the IQLT Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of ACWI and IQLT, 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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Drawdowns

ACWI vs. IQLT - Drawdown Comparison

The maximum ACWI drawdown since its inception was -56.00%, which is greater than IQLT's maximum drawdown of -32.21%. Use the drawdown chart below to compare losses from any high point for ACWI and IQLT.

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Drawdown Indicators

ACWIIQLTDifference

Max Drawdown

Largest peak-to-trough decline

-56.00%

-32.21%

-23.79%

Max Drawdown (1Y)

Largest decline over 1 year

-9.73%

-10.38%

+0.65%

Max Drawdown (3Y)

Largest decline over 3 years

-16.55%

-13.18%

-3.37%

Max Drawdown (5Y)

Largest decline over 5 years

-26.42%

-30.24%

+3.82%

Max Drawdown (10Y)

Largest decline over 10 years

-33.53%

-32.21%

-1.32%

Current Drawdown

Current decline from peak

-0.08%

0.00%

-0.08%

Average Drawdown

Average peak-to-trough decline

-8.55%

-6.14%

-2.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

2.59%

-0.26%

Volatility

ACWI vs. IQLT - Volatility Comparison

iShares MSCI ACWI ETF (ACWI) has a higher volatility of 4.18% compared to iShares MSCI Intl Quality Factor ETF (IQLT) at 3.62%. This indicates that ACWI's price experiences larger fluctuations and is considered to be riskier than IQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ACWIIQLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.18%

3.62%

+0.56%

Volatility (6M)

Calculated over the trailing 6-month period

11.80%

12.89%

-1.09%

Volatility (1Y)

Calculated over the trailing 1-year period

13.99%

15.04%

-1.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.25%

16.59%

-0.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.07%

16.78%

+0.29%

ACWI vs. IQLT - Expense Ratio Comparison

ACWI has a 0.32% expense ratio, which is higher than IQLT's 0.30% expense ratio.

Dividends

ACWI vs. IQLT - Dividend Comparison

ACWI's dividend yield for the trailing twelve months is around 1.40%, less than IQLT's 2.34% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IQLT
iShares MSCI Intl Quality Factor ETF		2.34%2.33%2.87%2.27%3.14%2.24%1.61%2.28%2.72%2.36%2.91%2.78%

Frequently Asked Questions

ACWI and IQLT have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ACWI has higher volatility (4.18%) compared to IQLT (3.62%). In terms of maximum drawdown, ACWI dropped -56.00% vs IQLT's -32.21%.

On 10-year performance, ACWI leads with 12.69% vs 9.95% for IQLT. On fees, IQLT is cheaper at 0.30% per year. On volatility, IQLT has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ACWI has performed better with a 12.69% return vs 9.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IQLT is cheaper with a 0.30% expense ratio, compared with 0.32% for ACWI.

IQLT has the higher dividend yield at 2.34%, compared with 1.40% for ACWI.

ACWI is categorized as Global Equities, while IQLT is Quality Factor. ACWI tracks MSCI All Country World Index, while IQLT tracks MSCI World ex USA Sector Neutral Quality Index (Net). Their fees differ too: 0.32% for ACWI and 0.30% for IQLT.

ACWI currently has the higher Sharpe Ratio (1.83 vs 1.66), 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.

Portfolio Optimizer

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