ACWX vs. MOAT

Last updated Jun 12, 2026

ACWX (iShares MSCI ACWI ex U.S. ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - ACWX is a Foreign Large Cap Equities fund tracking the MSCI All Country World ex-U.S. Index, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, ACWX returned 9.87%/yr vs 13.35%/yr for MOAT. A 0.74 correlation means they provide meaningful diversification when combined. ACWX charges 0.32%/yr vs 0.47%/yr for MOAT.

Performance

ACWX vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI ex U.S. ETF (ACWX) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACWX achieves a 13.42% return, which is significantly higher than MOAT's -1.06% return. Over the past 10 years, ACWX has underperformed MOAT with an annualized return of 9.87%, while MOAT has yielded a comparatively higher 13.35% annualized return.

ACWX

• 1D: 3.41%
• 1M: 1.94%
• YTD: 13.42%
• 6M: 14.35%
• 1Y: 28.83%
• 3Y*: 18.66%
• 5Y*: 8.17%
• 10Y*: 9.87%

MOAT

• 1D: 1.16%
• 1M: 2.54%
• YTD: -1.06%
• 6M: -2.38%
• 1Y: 12.21%
• 3Y*: 10.67%
• 5Y*: 7.69%
• 10Y*: 13.35%

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

ACWX vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWX iShares MSCI ACWI ex U.S. ETF	13.42%	32.59%	5.17%	15.63%	-16.07%	7.67%	10.29%	21.05%	-13.99%	27.20%
MOAT VanEck Morningstar Wide Moat ETF	-1.06%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between ACWX and MOAT is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Apr 25, 2012	0.74

The correlation between ACWX and MOAT has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.

ACWX vs. MOAT - Sectors Allocation Comparison

Sectors	ACWX	MOAT
Financial Services	23.3%	6.7%
Technology	22.4%	32.8%
Industrials	14.0%	13.5%
Consumer Cyclical	7.3%	10.3%
Healthcare	6.7%	16.0%
Basic Materials	6.7%	-
Consumer Defensive	5.0%	17.5%
Energy	4.8%	-
Communication Services	4.7%	2.4%
Utilities	2.8%	-
Real Estate	1.2%	0.8%

Return for Risk

ACWX vs. MOAT — Risk / Return Rank

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

ACWX

ACWX Risk / Return Rank: 64
ACWX Sharpe Ratio Rank: 64
ACWX Sortino Ratio Rank: 63
ACWX Omega Ratio Rank: 66
ACWX Calmar Ratio Rank: 61
ACWX Martin Ratio Rank: 65

MOAT

MOAT Risk / Return Rank: 28
MOAT Sharpe Ratio Rank: 29
MOAT Sortino Ratio Rank: 29
MOAT Omega Ratio Rank: 27
MOAT Calmar Ratio Rank: 25
MOAT Martin Ratio Rank: 27

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. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ex U.S. ETF (ACWX) and VanEck Morningstar Wide Moat ETF (MOAT). 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	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.76	0.88	+0.88
Sortino ratio: Return per unit of downside risk	2.43	1.35	+1.08
Omega ratio: Gain probability vs. loss probability	1.32	1.15	+0.17
Calmar ratio: Return relative to maximum drawdown	2.53	0.99	+1.55
Martin ratio: Return relative to average drawdown	9.69	3.02	+6.67

ACWX vs. MOAT - Sharpe Ratio Comparison

The current ACWX Sharpe Ratio is 1.76, which is higher than the MOAT Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of ACWX and MOAT, 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. MOAT - Drawdown Comparison

The maximum ACWX drawdown since its inception was -60.40%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for ACWX and MOAT.

Drawdown Indicators

	ACWX	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-60.40%	-33.31%	-27.09%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-12.43%	+1.01%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-21.44%	+7.60%
Max Drawdown (5Y) Largest decline over 5 years	-30.07%	-23.96%	-6.11%
Max Drawdown (10Y) Largest decline over 10 years	-35.38%	-33.31%	-2.07%
Current Drawdown Current decline from peak	-1.82%	-4.84%	+3.02%
Average Drawdown Average peak-to-trough decline	-13.32%	-3.83%	-9.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	4.05%	-1.07%

Volatility

ACWX vs. MOAT - Volatility Comparison

iShares MSCI ACWI ex U.S. ETF (ACWX) has a higher volatility of 7.03% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 4.16%. This indicates that ACWX's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWX	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.03%	4.16%	+2.87%
Volatility (6M) Calculated over the trailing 6-month period	14.36%	10.04%	+4.32%
Volatility (1Y) Calculated over the trailing 1-year period	16.43%	13.94%	+2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.46%	18.21%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	18.69%	-1.26%

ACWX vs. MOAT - Expense Ratio Comparison

ACWX has a 0.32% expense ratio, which is lower than MOAT's 0.47% expense ratio.

Dividends

ACWX vs. MOAT - Dividend Comparison

ACWX's dividend yield for the trailing twelve months is around 2.49%, more than MOAT's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWX iShares MSCI ACWI ex U.S. ETF	2.49%	2.82%	2.97%	2.96%	2.68%	2.74%	1.88%	3.22%	2.60%	2.40%	2.77%	2.51%
MOAT VanEck Morningstar Wide Moat ETF	1.37%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both ACWX and MOAT in my portfolio?

ACWX and MOAT have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACWX or MOAT?

ACWX has higher volatility (7.03%) compared to MOAT (4.16%). In terms of maximum drawdown, ACWX dropped -60.40% vs MOAT's -33.31%.

Which ETF is better, ACWX or MOAT?

On 10-year performance, MOAT leads with 13.35% vs 9.87% for ACWX. On fees, ACWX is cheaper at 0.32% per year. On volatility, MOAT has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACWX or MOAT?

Over the 10-year period, MOAT has performed better with a 13.35% return vs 9.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACWX or MOAT?

ACWX is cheaper with a 0.32% expense ratio, compared with 0.47% for MOAT.

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

ACWX has the higher dividend yield at 2.49%, compared with 1.37% for MOAT.

What is the main difference between ACWX and MOAT?

ACWX is categorized as Foreign Large Cap Equities, while MOAT is Large Cap Blend Equities. ACWX tracks MSCI All Country World ex-U.S. Index, while MOAT tracks Morningstar Wide Moat Focus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.32% for ACWX and 0.47% for MOAT.

Which has better risk-adjusted returns?

ACWX currently has the higher Sharpe Ratio (1.76 vs 0.88), 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.