ACWI vs. KNO

Last updated Aug 6, 2026

ACWI (iShares MSCI ACWI ETF) and KNO (AXS Knowledge Leaders ETF) are both Global Equities funds. ACWI is passively managed, while KNO is actively managed. Over the past year, ACWI returned 25.54% vs 32.48% for KNO. Their correlation of 0.84 means they have usually moved in the same direction. ACWI charges 0.32%/yr vs 0.84%/yr for KNO.

Performance

ACWI vs. KNO - Performance Comparison

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

Returns By Period

In the year-to-date period, ACWI achieves a 14.17% return, which is significantly lower than KNO's 25.64% 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%

KNO

• 1D: 0.37%
• 1M: 1.71%
• 6M: 17.68%
• YTD: 25.64%
• 1Y: 32.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ACWI iShares MSCI ACWI ETF	$416.62M	$465.89M	$498.47M
KNO AXS Knowledge Leaders ETF	$33.95K	$26.25K	$36.90K

ACWI vs. KNO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ACWI iShares MSCI ACWI ETF	14.17%	22.41%	4.44%
KNO AXS Knowledge Leaders ETF	25.64%	19.84%	-1.19%

Correlation

The correlation between ACWI and KNO is 0.83, 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.	0.83
Correlation (All Time) Calculated using the full available price history since Jul 22, 2024	0.84

The correlation between ACWI and KNO has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

ACWI vs. KNO - Sectors Allocation Comparison

Sectors	ACWI	KNO
Technology	32.7%	38.5%
Financial Services	16.0%	1.8%
Industrials	10.8%	22.9%
Consumer Cyclical	8.7%	5.8%
Healthcare	8.3%	13.6%
Communication Services	8.0%	1.2%
Consumer Defensive	4.7%	3.3%
Energy	3.6%	4.2%
Basic Materials	3.4%	6.5%
Utilities	2.4%	1.5%
Real Estate	1.6%	0.8%

Return for Risk

ACWI vs. KNO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ACWI

ACWI Risk / Return Rank: 70
ACWI Sharpe Ratio Rank: 70
ACWI Sortino Ratio Rank: 68
ACWI Omega Ratio Rank: 69
ACWI Calmar Ratio Rank: 66
ACWI Martin Ratio Rank: 76

KNO

KNO Risk / Return Rank: 70
KNO Sharpe Ratio Rank: 69
KNO Sortino Ratio Rank: 69
KNO Omega Ratio Rank: 70
KNO Calmar Ratio Rank: 70
KNO Martin Ratio Rank: 72

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. KNO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ETF (ACWI) and AXS Knowledge Leaders ETF (KNO). 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	KNO	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.81	+0.02
Sortino ratio: Return per unit of downside risk	2.54	2.56	-0.02
Omega ratio: Gain probability vs. loss probability	1.33	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	2.64	2.80	-0.16
Martin ratio: Return relative to average drawdown	11.01	10.14	+0.87

ACWI vs. KNO - Sharpe Ratio Comparison

The current ACWI Sharpe Ratio is 1.83, which is comparable to the KNO Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of ACWI and KNO, 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. KNO - Drawdown Comparison

The maximum ACWI drawdown since its inception was -56.00%, which is greater than KNO's maximum drawdown of -15.50%. Use the drawdown chart below to compare losses from any high point for ACWI and KNO.

Drawdown Indicators

	ACWI	KNO	Difference
Max Drawdown Largest peak-to-trough decline	-56.00%	-15.50%	-40.50%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-11.67%	+1.94%
Max Drawdown (3Y) Largest decline over 3 years	-16.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.53%	—	—
Current Drawdown Current decline from peak	-0.08%	-1.08%	+1.00%
Average Drawdown Average peak-to-trough decline	-8.55%	-2.99%	-5.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	3.21%	-0.88%

Volatility

ACWI vs. KNO - Volatility Comparison

The current volatility for iShares MSCI ACWI ETF (ACWI) is 4.18%, while AXS Knowledge Leaders ETF (KNO) has a volatility of 5.14%. This indicates that ACWI experiences smaller price fluctuations and is considered to be less risky than KNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWI	KNO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	5.14%	-0.96%
Volatility (6M) Calculated over the trailing 6-month period	11.80%	16.18%	-4.38%
Volatility (1Y) Calculated over the trailing 1-year period	13.99%	18.00%	-4.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	17.41%	-1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	17.41%	-0.34%

ACWI vs. KNO - Expense Ratio Comparison

ACWI has a 0.32% expense ratio, which is lower than KNO's 0.84% expense ratio.

Dividends

ACWI vs. KNO - Dividend Comparison

ACWI's dividend yield for the trailing twelve months is around 1.40%, more than KNO's 0.86% 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%
KNO AXS Knowledge Leaders ETF	0.86%	1.08%	3.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACWI and KNO in my portfolio?

ACWI and KNO have a correlation of 0.83, 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 KNO?

KNO has higher volatility (5.14%) compared to ACWI (4.18%). In terms of maximum drawdown, ACWI dropped -56.00% vs KNO's -15.50%.

Which ETF is better, ACWI or KNO?

On 1-year performance, KNO leads with 32.48% vs 25.54% for ACWI. On fees, ACWI is cheaper at 0.32% per year. On volatility, ACWI has been the lower-risk option at 4.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACWI or KNO?

Over the 1-year period, KNO has performed better with a 32.48% return vs 25.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACWI or KNO?

ACWI is cheaper with a 0.32% expense ratio, compared with 0.84% for KNO.

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

ACWI has the higher dividend yield at 1.40%, compared with 0.86% for KNO.

What is the main difference between ACWI and KNO?

They also come from different issuers: iShares and AXS. Their fees differ too: 0.32% for ACWI and 0.84% for KNO.

Which has better risk-adjusted returns?

ACWI currently has the higher Sharpe Ratio (1.83 vs 1.81), 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.