ACWX vs. VOO

Last updated Jun 23, 2026

ACWX (iShares MSCI ACWI ex U.S. ETF) and VOO (Vanguard S&P 500 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 VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, ACWX returned 10.42%/yr vs 15.77%/yr for VOO. Their correlation of 0.82 suggests significant overlap in exposure. ACWX charges 0.32%/yr vs 0.03%/yr for VOO.

Performance

ACWX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI ex U.S. ETF (ACWX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACWX achieves a 16.57% return, which is significantly higher than VOO's 9.75% return. Over the past 10 years, ACWX has underperformed VOO with an annualized return of 10.42%, while VOO has yielded a comparatively higher 15.77% annualized return.

ACWX

• 1D: 0.36%
• 1M: 4.21%
• YTD: 16.57%
• 6M: 17.25%
• 1Y: 35.16%
• 3Y*: 20.31%
• 5Y*: 9.20%
• 10Y*: 10.42%

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

ACWX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWX iShares MSCI ACWI ex U.S. ETF	16.57%	32.59%	5.17%	15.63%	-16.07%	7.67%	10.29%	21.05%	-13.99%	27.20%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between ACWX and VOO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.82

The correlation between ACWX and VOO has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

ACWX vs. VOO - Sectors Allocation Comparison

Sectors	ACWX	VOO
Technology	23.8%	39.1%
Financial Services	23.7%	10.9%
Industrials	13.6%	7.6%
Consumer Cyclical	7.0%	9.8%
Basic Materials	6.6%	1.7%
Healthcare	6.5%	8.3%
Consumer Defensive	5.0%	4.5%
Communication Services	4.6%	10.5%
Energy	4.4%	3.2%
Utilities	2.9%	2.5%
Real Estate	1.3%	1.8%

Return for Risk

ACWX vs. VOO — Risk / Return Rank

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

ACWX

ACWX Risk / Return Rank: 67
ACWX Sharpe Ratio Rank: 69
ACWX Sortino Ratio Rank: 66
ACWX Omega Ratio Rank: 69
ACWX Calmar Ratio Rank: 64
ACWX Martin Ratio Rank: 67

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ex U.S. ETF (ACWX) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.17	-0.02
Sortino ratio: Return per unit of downside risk	2.91	2.93	-0.02
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	3.09	3.02	+0.07
Martin ratio: Return relative to average drawdown	11.86	13.58	-1.72

ACWX vs. VOO - Sharpe Ratio Comparison

The current ACWX Sharpe Ratio is 2.15, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ACWX and VOO, 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. VOO - Drawdown Comparison

The maximum ACWX drawdown since its inception was -60.40%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for ACWX and VOO.

Drawdown Indicators

	ACWX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-60.40%	-33.99%	-26.41%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-8.90%	-2.52%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-18.69%	+4.85%
Max Drawdown (5Y) Largest decline over 5 years	-29.78%	-24.52%	-5.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.38%	-33.99%	-1.39%
Current Drawdown Current decline from peak	0.00%	-1.74%	+1.74%
Average Drawdown Average peak-to-trough decline	-13.30%	-3.68%	-9.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	1.98%	+0.99%

Volatility

ACWX vs. VOO - Volatility Comparison

iShares MSCI ACWI ex U.S. ETF (ACWX) has a higher volatility of 6.55% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that ACWX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.55%	4.60%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	14.41%	9.73%	+4.68%
Volatility (1Y) Calculated over the trailing 1-year period	16.45%	12.39%	+4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	16.90%	-0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.41%	18.05%	-0.64%

ACWX vs. VOO - Expense Ratio Comparison

ACWX has a 0.32% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

ACWX vs. VOO - Dividend Comparison

ACWX's dividend yield for the trailing twelve months is around 2.46%, more than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWX iShares MSCI ACWI ex U.S. ETF	2.46%	2.82%	2.97%	2.96%	2.68%	2.74%	1.88%	3.22%	2.60%	2.40%	2.77%	2.51%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both ACWX and VOO in my portfolio?

ACWX and VOO have a correlation of 0.81, 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 VOO?

ACWX has higher volatility (6.55%) compared to VOO (4.60%). In terms of maximum drawdown, ACWX dropped -60.40% vs VOO's -33.99%.

Which ETF is better, ACWX or VOO?

On 10-year performance, VOO leads with 15.77% vs 10.42% for ACWX. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACWX or VOO?

Over the 10-year period, VOO has performed better with a 15.77% return vs 10.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACWX or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.32% for ACWX.

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

ACWX has the higher dividend yield at 2.46%, compared with 1.04% for VOO.

What is the main difference between ACWX and VOO?

ACWX is categorized as Foreign Large Cap Equities, while VOO is S&P 500. ACWX tracks MSCI All Country World ex-U.S. Index, while VOO tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.32% for ACWX and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.17 vs 2.15), 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.