ACWI vs. PID

Last updated Jun 5, 2026

ACWI (iShares MSCI ACWI ETF) and PID (Invesco International Dividend Achievers™ ETF) are both Global Equities funds - ACWI tracks the MSCI All Country World Index while PID tracks the Nasdaq International Dividend Achievers (NR). Both are passively managed. Over the past 10 years, ACWI returned 12.82%/yr vs 8.69%/yr for PID. Their correlation of 0.85 suggests significant overlap in exposure. ACWI charges 0.32%/yr vs 0.56%/yr for PID.

Performance

ACWI vs. PID - Performance Comparison

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

Returns By Period

In the year-to-date period, ACWI achieves a 12.47% return, which is significantly higher than PID's 6.41% return. Over the past 10 years, ACWI has outperformed PID with an annualized return of 12.82%, while PID has yielded a comparatively lower 8.69% annualized return.

ACWI

• 1D: 0.30%
• 1M: 4.45%
• YTD: 12.47%
• 6M: 13.07%
• 1Y: 29.24%
• 3Y*: 21.38%
• 5Y*: 11.35%
• 10Y*: 12.82%

PID

• 1D: 0.91%
• 1M: 1.27%
• YTD: 6.41%
• 6M: 6.99%
• 1Y: 17.43%
• 3Y*: 13.03%
• 5Y*: 8.48%
• 10Y*: 8.69%

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

ACWI vs. PID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWI iShares MSCI ACWI ETF	12.47%	22.41%	17.45%	22.27%	-18.39%	18.66%	16.34%	26.59%	-9.19%	24.33%
PID Invesco International Dividend Achievers™ ETF	6.41%	24.45%	3.08%	14.28%	-6.48%	24.49%	-6.56%	25.87%	-11.46%	19.05%

Correlation

The correlation between ACWI and PID is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008	0.85

The correlation between ACWI and PID shifts across timeframes, from 0.66 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

ACWI vs. PID - Sectors Allocation Comparison

Sectors	ACWI	PID
Technology	29.4%	8.7%
Financial Services	16.1%	17.5%
Industrials	10.9%	7.9%
Consumer Cyclical	9.3%	6.4%
Communication Services	9.0%	13.8%
Healthcare	8.1%	8.4%
Consumer Defensive	5.0%	6.0%
Energy	4.2%	13.3%
Basic Materials	3.7%	3.4%
Utilities	2.6%	14.2%
Real Estate	1.8%	0.4%

Return for Risk

ACWI vs. PID — Risk / Return Rank

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

ACWI

ACWI Risk / Return Rank: 70
ACWI Sharpe Ratio Rank: 71
ACWI Sortino Ratio Rank: 71
ACWI Omega Ratio Rank: 71
ACWI Calmar Ratio Rank: 62
ACWI Martin Ratio Rank: 73

PID

PID Risk / Return Rank: 52
PID Sharpe Ratio Rank: 53
PID Sortino Ratio Rank: 56
PID Omega Ratio Rank: 53
PID Calmar Ratio Rank: 48
PID Martin Ratio Rank: 49

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. PID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ETF (ACWI) and Invesco International Dividend Achievers™ ETF (PID). 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	PID	Difference
Sharpe ratio: Return per unit of total volatility	2.30	1.80	+0.50
Sortino ratio: Return per unit of downside risk	3.17	2.65	+0.52
Omega ratio: Gain probability vs. loss probability	1.42	1.32	+0.09
Calmar ratio: Return relative to maximum drawdown	3.02	2.34	+0.68
Martin ratio: Return relative to average drawdown	13.55	8.00	+5.56
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 vs. PID - Sharpe Ratio Comparison

The current ACWI Sharpe Ratio is 2.30, which is comparable to the PID Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of ACWI and PID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ACWI	PID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	1.80	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.61	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.49	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.27	+0.16

Drawdowns

ACWI vs. PID - Drawdown Comparison

The maximum ACWI drawdown since its inception was -56.00%, smaller than the maximum PID drawdown of -66.34%. Use the drawdown chart below to compare losses from any high point for ACWI and PID.

Drawdown Indicators

	ACWI	PID	Difference
Max Drawdown Largest peak-to-trough decline	-56.00%	-66.34%	+10.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-7.47%	-2.26%
Max Drawdown (3Y) Largest decline over 3 years	-16.55%	-13.34%	-3.21%
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	-22.97%	-3.45%
Max Drawdown (10Y) Largest decline over 10 years	-33.53%	-46.07%	+12.54%
Current Drawdown Current decline from peak	-0.53%	-1.31%	+0.78%
Average Drawdown Average peak-to-trough decline	-8.61%	-13.03%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.19%	-0.03%

Volatility

ACWI vs. PID - Volatility Comparison

iShares MSCI ACWI ETF (ACWI) has a higher volatility of 3.83% compared to Invesco International Dividend Achievers™ ETF (PID) at 2.74%. This indicates that ACWI's price experiences larger fluctuations and is considered to be riskier than PID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWI	PID	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	2.74%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	10.30%	7.67%	+2.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	9.74%	+3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	13.97%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.11%	17.84%	-0.73%

ACWI vs. PID - Expense Ratio Comparison

ACWI has a 0.32% expense ratio, which is lower than PID's 0.56% expense ratio.

Dividends

ACWI vs. PID - Dividend Comparison

ACWI's dividend yield for the trailing twelve months is around 1.38%, less than PID's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.38%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
PID Invesco International Dividend Achievers™ ETF	3.24%	3.28%	3.88%	3.31%	3.30%	3.30%	3.16%	3.99%	3.87%	3.46%	3.90%	4.48%

Frequently Asked Questions

Can I hold both ACWI and PID in my portfolio?

ACWI and PID have a correlation of 0.66, 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 PID?

ACWI has higher volatility (3.83%) compared to PID (2.74%). In terms of maximum drawdown, ACWI dropped -56.00% vs PID's -66.34%.

Which ETF is better, ACWI or PID?

On 10-year performance, ACWI leads with 12.82% vs 8.69% for PID. On fees, ACWI is cheaper at 0.32% per year. On volatility, PID has been the lower-risk option at 2.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACWI or PID?

Over the 10-year period, ACWI has performed better with a 12.82% return vs 8.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACWI or PID?

ACWI is cheaper with a 0.32% expense ratio, compared with 0.56% for PID.

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

PID has the higher dividend yield at 3.24%, compared with 1.38% for ACWI.

What is the main difference between ACWI and PID?

ACWI tracks MSCI All Country World Index, while PID tracks Nasdaq International Dividend Achievers (NR). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.32% for ACWI and 0.56% for PID.

Which has better risk-adjusted returns?

ACWI currently has the higher Sharpe Ratio (2.30 vs 1.80), 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.