ACWX vs. IDEV

Last updated Jun 24, 2026

ACWX (iShares MSCI ACWI ex U.S. ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both Foreign Large Cap Equities funds from iShares - ACWX tracks the MSCI All Country World ex-U.S. Index while IDEV tracks the MSCI World ex USA Investable Market Index. Both are passively managed. Over the past 5 years, ACWX returned 8.31%/yr vs 8.59%/yr for IDEV. With a 0.96 correlation, they move nearly in lockstep. ACWX charges 0.32%/yr vs 0.05%/yr for IDEV.

Performance

ACWX vs. IDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI ex U.S. ETF (ACWX) and iShares Core MSCI International Developed Markets ETF (IDEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACWX achieves a 12.88% return, which is significantly higher than IDEV's 8.34% return.

ACWX

• 1D: -3.17%
• 1M: 0.91%
• YTD: 12.88%
• 6M: 12.78%
• 1Y: 29.85%
• 3Y*: 19.03%
• 5Y*: 8.31%
• 10Y*: 10.06%

IDEV

• 1D: -1.85%
• 1M: -0.30%
• YTD: 8.34%
• 6M: 7.88%
• 1Y: 23.11%
• 3Y*: 17.47%
• 5Y*: 8.59%
• 10Y*: —

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

ACWX vs. IDEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWX iShares MSCI ACWI ex U.S. ETF	12.88%	32.59%	5.17%	15.63%	-16.07%	7.67%	10.29%	21.05%	-13.99%	18.03%
IDEV iShares Core MSCI International Developed Markets ETF	8.34%	32.56%	4.54%	17.36%	-14.99%	13.00%	8.32%	23.12%	-14.10%	17.43%

Correlation

The correlation between ACWX and IDEV is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 23, 2017	0.96

The correlation between ACWX and IDEV has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

ACWX vs. IDEV - Sectors Allocation Comparison

Sectors	ACWX	IDEV
Technology	23.8%	11.1%
Financial Services	23.7%	24.0%
Industrials	13.6%	18.8%
Consumer Cyclical	7.0%	7.7%
Basic Materials	6.6%	8.3%
Healthcare	6.5%	8.5%
Consumer Defensive	5.0%	5.8%
Communication Services	4.6%	4.3%
Energy	4.4%	5.4%
Utilities	2.9%	3.4%
Real Estate	1.3%	2.7%

Return for Risk

ACWX vs. IDEV — Risk / Return Rank

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

ACWX

ACWX Risk / Return Rank: 55
ACWX Sharpe Ratio Rank: 55
ACWX Sortino Ratio Rank: 52
ACWX Omega Ratio Rank: 55
ACWX Calmar Ratio Rank: 55
ACWX Martin Ratio Rank: 59

IDEV

IDEV Risk / Return Rank: 46
IDEV Sharpe Ratio Rank: 46
IDEV Sortino Ratio Rank: 45
IDEV Omega Ratio Rank: 45
IDEV Calmar Ratio Rank: 43
IDEV 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.

ACWX vs. IDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ex U.S. ETF (ACWX) and iShares Core MSCI International Developed Markets ETF (IDEV). 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.

	ACWX	IDEV	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.54	+0.25
Sortino ratio: Return per unit of downside risk	2.44	2.19	+0.25
Omega ratio: Gain probability vs. loss probability	1.33	1.28	+0.05
Calmar ratio: Return relative to maximum drawdown	2.62	2.07	+0.55
Martin ratio: Return relative to average drawdown	10.05	8.10	+1.95

ACWX vs. IDEV - Sharpe Ratio Comparison

The current ACWX Sharpe Ratio is 1.79, which is comparable to the IDEV Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of ACWX and IDEV, 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

ACWX vs. IDEV - Drawdown Comparison

The maximum ACWX drawdown since its inception was -60.40%, which is greater than IDEV's maximum drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for ACWX and IDEV.

Drawdown Indicators

	ACWX	IDEV	Difference
Max Drawdown Largest peak-to-trough decline	-60.40%	-34.77%	-25.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-11.20%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-13.41%	-0.43%
Max Drawdown (5Y) Largest decline over 5 years	-29.78%	-29.15%	-0.63%
Max Drawdown (10Y) Largest decline over 10 years	-35.38%	—	—
Current Drawdown Current decline from peak	-3.17%	-1.98%	-1.19%
Average Drawdown Average peak-to-trough decline	-13.30%	-6.53%	-6.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.86%	+0.12%

Volatility

ACWX vs. IDEV - Volatility Comparison

iShares MSCI ACWI ex U.S. ETF (ACWX) has a higher volatility of 7.37% compared to iShares Core MSCI International Developed Markets ETF (IDEV) at 5.07%. This indicates that ACWX's price experiences larger fluctuations and is considered to be riskier than IDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWX	IDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	5.07%	+2.30%
Volatility (6M) Calculated over the trailing 6-month period	14.77%	12.83%	+1.94%
Volatility (1Y) Calculated over the trailing 1-year period	16.74%	15.07%	+1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	16.35%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.27%	17.28%	-0.01%

ACWX vs. IDEV - Expense Ratio Comparison

ACWX has a 0.32% expense ratio, which is higher than IDEV's 0.05% expense ratio.

Dividends

ACWX vs. IDEV - Dividend Comparison

ACWX's dividend yield for the trailing twelve months is around 2.54%, less than IDEV's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWX iShares MSCI ACWI ex U.S. ETF	2.54%	2.82%	2.97%	2.96%	2.68%	2.74%	1.88%	3.22%	2.60%	2.40%	2.77%	2.51%
IDEV iShares Core MSCI International Developed Markets ETF	3.26%	3.40%	3.30%	3.07%	2.69%	3.05%	2.00%	3.18%	3.16%	1.54%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACWX and IDEV in my portfolio?

With a correlation of 0.96, ACWX and IDEV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ACWX or IDEV?

ACWX has higher volatility (7.37%) compared to IDEV (5.07%). In terms of maximum drawdown, ACWX dropped -60.40% vs IDEV's -34.77%.

Which ETF is better, ACWX or IDEV?

On 5-year performance, IDEV leads with 8.59% vs 8.31% for ACWX. On fees, IDEV is cheaper at 0.05% per year. On volatility, IDEV has been the lower-risk option at 5.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACWX or IDEV?

Over the 5-year period, IDEV has performed better with a 8.59% return vs 8.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACWX or IDEV?

IDEV is cheaper with a 0.05% expense ratio, compared with 0.32% for ACWX.

Which ETF pays a higher dividend yield, ACWX or IDEV?

IDEV has the higher dividend yield at 3.26%, compared with 2.54% for ACWX.

What is the main difference between ACWX and IDEV?

ACWX tracks MSCI All Country World ex-U.S. Index, while IDEV tracks MSCI World ex USA Investable Market Index. Their fees differ too: 0.32% for ACWX and 0.05% for IDEV.

Which has better risk-adjusted returns?

ACWX currently has the higher Sharpe Ratio (1.79 vs 1.54), 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.