ACWI vs. SPHD
ACWI (iShares MSCI ACWI ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - ACWI is a Global Equities fund tracking the MSCI All Country World Index, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, ACWI returned 13.13%/yr vs 7.41%/yr for SPHD. A 0.67 correlation means they provide meaningful diversification when combined. ACWI charges 0.32%/yr vs 0.30%/yr for SPHD.
Performance
ACWI vs. SPHD - Performance Comparison
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Returns By Period
In the year-to-date period, ACWI achieves a 12.42% return, which is significantly higher than SPHD's 8.51% return. Over the past 10 years, ACWI has outperformed SPHD with an annualized return of 13.13%, while SPHD has yielded a comparatively lower 7.41% annualized return.
ACWI
- 1D
- 1.66%
- 1M
- 3.24%
- YTD
- 12.42%
- 6M
- 13.16%
- 1Y
- 28.96%
- 3Y*
- 20.01%
- 5Y*
- 11.38%
- 10Y*
- 13.13%
SPHD
- 1D
- -1.12%
- 1M
- 4.38%
- YTD
- 8.51%
- 6M
- 7.65%
- 1Y
- 12.70%
- 3Y*
- 11.55%
- 5Y*
- 6.57%
- 10Y*
- 7.41%
ACWI vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 12.42% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 26.59% | -9.19% | 24.33% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.51% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Correlation
The correlation between ACWI and SPHD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.67 |
Over the past year, the correlation between ACWI and SPHD has dropped to 0.26 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
ACWI vs. SPHD — Risk / Return Rank
ACWI
SPHD
ACWI vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ETF (ACWI) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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 | SPHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.19 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 1.74 | +1.25 |
| Martin ratioReturn relative to average drawdown | 13.07 | 4.31 | +8.77 |
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Drawdowns
ACWI vs. SPHD - Drawdown Comparison
The maximum ACWI drawdown since its inception was -56.00%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for ACWI and SPHD.
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Drawdown Indicators
| ACWI | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.00% | -41.39% | -14.61% |
Max Drawdown (1Y)Largest decline over 1 year | -9.73% | -7.33% | -2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -16.55% | -13.29% | -3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -26.42% | -19.50% | -6.92% |
Max Drawdown (10Y)Largest decline over 10 years | -33.53% | -41.39% | +7.86% |
Current DrawdownCurrent decline from peak | -0.56% | -1.63% | +1.07% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -4.70% | -3.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 2.96% | -0.74% |
Volatility
ACWI vs. SPHD - Volatility Comparison
iShares MSCI ACWI ETF (ACWI) has a higher volatility of 5.40% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 3.91%. This indicates that ACWI's price experiences larger fluctuations and is considered to be riskier than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACWI | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.40% | 3.91% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 11.20% | 7.86% | +3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.48% | 11.27% | +2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 14.21% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.16% | 17.66% | -0.50% |
ACWI vs. SPHD - Expense Ratio Comparison
ACWI has a 0.32% expense ratio, which is higher than SPHD's 0.30% expense ratio.
Dividends
ACWI vs. SPHD - Dividend Comparison
ACWI's dividend yield for the trailing twelve months is around 2.03%, less than SPHD's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 2.03% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.45% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
Frequently Asked Questions
ACWI and SPHD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACWI has higher volatility (5.40%) compared to SPHD (3.91%). In terms of maximum drawdown, ACWI dropped -56.00% vs SPHD's -41.39%.
On 10-year performance, ACWI leads with 13.13% vs 7.41% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, SPHD has been the lower-risk option at 3.91%. 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 13.13% return vs 7.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHD is cheaper with a 0.30% expense ratio, compared with 0.32% for ACWI.
SPHD has the higher dividend yield at 4.45%, compared with 2.03% for ACWI.
ACWI is categorized as Global Equities, while SPHD is Dividend. ACWI tracks MSCI All Country World Index, while SPHD tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.32% for ACWI and 0.30% for SPHD.
ACWI currently has the higher Sharpe Ratio (2.16 vs 1.13), 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.
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