ACWL.L vs. ACWU.L

Last updated Jun 4, 2026

ACWL.L (Lyxor MSCI All Country World UCITS ETF) and ACWU.L (Lyxor MSCI All Country World UCITS C-USD) are both Global Equities funds from Amundi tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, ACWL.L returned 13.73%/yr vs 13.52%/yr for ACWU.L. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.45% expense ratio.

Performance

ACWL.L vs. ACWU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor MSCI All Country World UCITS ETF (ACWL.L) and Lyxor MSCI All Country World UCITS C-USD (ACWU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ACWL.L is traded in GBp, while ACWU.L is traded in USD. To make them comparable, the ACWU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with ACWL.L having a 12.44% return and ACWU.L slightly lower at 12.16%. Both investments have delivered pretty close results over the past 10 years, with ACWL.L having a 13.73% annualized return and ACWU.L not far behind at 13.52%.

ACWL.L

• 1D: -0.29%
• 1M: 6.05%
• YTD: 12.44%
• 6M: 12.71%
• 1Y: 30.24%
• 3Y*: 18.94%
• 5Y*: 12.39%
• 10Y*: 13.73%

ACWU.L

• 1D: -0.33%
• 1M: 5.70%
• YTD: 12.16%
• 6M: 12.89%
• 1Y: 30.11%
• 3Y*: 18.99%
• 5Y*: 12.35%
• 10Y*: 13.52%

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

ACWL.L vs. ACWU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWL.L Lyxor MSCI All Country World UCITS ETF	12.44%	13.63%	21.43%	13.09%	-8.59%	20.41%	9.74%	18.01%	2.02%	11.14%
ACWU.L Lyxor MSCI All Country World UCITS C-USD	12.16%	14.26%	18.72%	15.50%	-8.94%	20.24%	10.28%	24.51%	-5.15%	14.16%

Correlation

The correlation between ACWL.L and ACWU.L is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Feb 3, 2015	0.31

Over the past year, ACWL.L and ACWU.L have become more correlated (0.71) than their long-term average of 0.31, meaning their price movements have been converging.

ACWL.L vs. ACWU.L - Sectors Allocation Comparison

Sectors	ACWL.L	ACWU.L
Technology	29.3%	29.3%
Financial Services	16.2%	16.2%
Industrials	10.9%	10.9%
Consumer Cyclical	9.3%	9.3%
Communication Services	9.0%	9.0%
Healthcare	8.1%	8.1%
Consumer Defensive	5.0%	5.0%
Energy	4.2%	4.2%
Basic Materials	3.7%	3.7%
Utilities	2.6%	2.6%
Real Estate	1.8%	1.8%

Return for Risk

ACWL.L vs. ACWU.L — Risk / Return Rank

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

ACWL.L

ACWL.L Risk / Return Rank: 87
ACWL.L Sharpe Ratio Rank: 89
ACWL.L Sortino Ratio Rank: 89
ACWL.L Omega Ratio Rank: 90
ACWL.L Calmar Ratio Rank: 81
ACWL.L Martin Ratio Rank: 85

ACWU.L

ACWU.L Risk / Return Rank: 72
ACWU.L Sharpe Ratio Rank: 72
ACWU.L Sortino Ratio Rank: 76
ACWU.L Omega Ratio Rank: 72
ACWU.L Calmar Ratio Rank: 65
ACWU.L Martin Ratio Rank: 73

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.

ACWL.L vs. ACWU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI All Country World UCITS ETF (ACWL.L) and Lyxor MSCI All Country World UCITS C-USD (ACWU.L). 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.

	ACWL.L	ACWU.L	Difference
Sharpe ratio: Return per unit of total volatility	3.06	2.49	+0.57
Sortino ratio: Return per unit of downside risk	4.15	3.37	+0.77
Omega ratio: Gain probability vs. loss probability	1.59	1.47	+0.12
Calmar ratio: Return relative to maximum drawdown	4.26	4.27	0.00
Martin ratio: Return relative to average drawdown	17.67	16.26	+1.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACWL.L vs. ACWU.L - Sharpe Ratio Comparison

The current ACWL.L Sharpe Ratio is 3.06, which is comparable to the ACWU.L Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of ACWL.L and ACWU.L, 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

	ACWL.L	ACWU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	2.49	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.90	1.09	+0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.61	1.25	+1.35
Sharpe Ratio (All Time) Calculated using the full available price history	2.36	1.14	+1.22

Drawdowns

ACWL.L vs. ACWU.L - Drawdown Comparison

The maximum ACWL.L drawdown since its inception was -18.15%, smaller than the maximum ACWU.L drawdown of -25.62%. Use the drawdown chart below to compare losses from any high point for ACWL.L and ACWU.L.

Drawdown Indicators

	ACWL.L	ACWU.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-25.62%	+7.47%
Max Drawdown (1Y) Largest decline over 1 year	-7.06%	-7.02%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.15%	-18.33%	+0.18%
Max Drawdown (5Y) Largest decline over 5 years	-18.15%	-18.33%	+0.18%
Max Drawdown (10Y) Largest decline over 10 years	-18.15%	-25.62%	+7.47%
Current Drawdown Current decline from peak	-0.29%	-0.33%	+0.04%
Average Drawdown Average peak-to-trough decline	-2.44%	-3.47%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.85%	-0.14%

Volatility

ACWL.L vs. ACWU.L - Volatility Comparison

The current volatility for Lyxor MSCI All Country World UCITS ETF (ACWL.L) is 2.64%, while Lyxor MSCI All Country World UCITS C-USD (ACWU.L) has a volatility of 3.81%. This indicates that ACWL.L experiences smaller price fluctuations and is considered to be less risky than ACWU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWL.L	ACWU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	3.81%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	7.02%	9.44%	-2.42%
Volatility (1Y) Calculated over the trailing 1-year period	9.88%	12.08%	-2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	16.62%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.34%	19.08%	+4.26%

ACWL.L vs. ACWU.L - Expense Ratio Comparison

Both ACWL.L and ACWU.L have an expense ratio of 0.45%.

Dividends

ACWL.L vs. ACWU.L - Dividend Comparison

Neither ACWL.L nor ACWU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ACWL.L and ACWU.L in my portfolio?

ACWL.L and ACWU.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACWL.L or ACWU.L?

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACWL.L or ACWU.L?

ACWL.L and ACWU.L have the same expense ratio: 0.45% per year.

What is the main difference between ACWL.L and ACWU.L?

Both ETFs track MSCI ACWI NR USD.