AVGC.L vs. ACWD.L

Last updated Jun 4, 2026

AVGC.L (Avantis Global Equity UCITS ETF USD Accumulating) and ACWD.L (SPDR MSCI All Country World UCITS ETF) are both Global Equities funds - AVGC.L tracks the MSCI World IMI Index while ACWD.L tracks the MSCI ACWI Index. Both are passively managed. Over the past year, AVGC.L returned 31.19% vs 29.71% for ACWD.L. Their correlation of 0.95 suggests significant overlap in exposure. AVGC.L charges 0.35%/yr vs 0.12%/yr for ACWD.L.

Performance

AVGC.L vs. ACWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Global Equity UCITS ETF USD Accumulating (AVGC.L) and SPDR MSCI All Country World UCITS ETF (ACWD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVGC.L achieves a 13.16% return, which is significantly higher than ACWD.L's 11.57% return.

AVGC.L

• 1D: -0.32%
• 1M: 3.65%
• YTD: 13.16%
• 6M: 15.19%
• 1Y: 31.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACWD.L

• 1D: -0.66%
• 1M: 4.34%
• YTD: 11.57%
• 6M: 13.24%
• 1Y: 29.71%
• 3Y*: 21.32%
• 5Y*: 11.33%
• 10Y*: 12.77%

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

AVGC.L vs. ACWD.L - Yearly Performance Comparison

	2026 (YTD)	2025
AVGC.L Avantis Global Equity UCITS ETF USD Accumulating	13.16%	25.16%
ACWD.L SPDR MSCI All Country World UCITS ETF	11.57%	25.44%

Correlation

The correlation between AVGC.L and ACWD.L is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.95

The correlation between AVGC.L and ACWD.L has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

AVGC.L vs. ACWD.L — Risk / Return Rank

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

AVGC.L

AVGC.L Risk / Return Rank: 80
AVGC.L Sharpe Ratio Rank: 79
AVGC.L Sortino Ratio Rank: 85
AVGC.L Omega Ratio Rank: 78
AVGC.L Calmar Ratio Rank: 77
AVGC.L Martin Ratio Rank: 80

ACWD.L

ACWD.L Risk / Return Rank: 72
ACWD.L Sharpe Ratio Rank: 70
ACWD.L Sortino Ratio Rank: 76
ACWD.L Omega Ratio Rank: 71
ACWD.L Calmar Ratio Rank: 67
ACWD.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.

AVGC.L vs. ACWD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Global Equity UCITS ETF USD Accumulating (AVGC.L) and SPDR MSCI All Country World UCITS ETF (ACWD.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.

	AVGC.L	ACWD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.36	+0.24
Sortino ratio: Return per unit of downside risk	3.84	3.49	+0.35
Omega ratio: Gain probability vs. loss probability	1.47	1.44	+0.03
Calmar ratio: Return relative to maximum drawdown	3.90	3.39	+0.51
Martin ratio: Return relative to average drawdown	15.98	14.15	+1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVGC.L vs. ACWD.L - Sharpe Ratio Comparison

The current AVGC.L Sharpe Ratio is 2.60, which is comparable to the ACWD.L Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of AVGC.L and ACWD.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

	AVGC.L	ACWD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	2.36	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.09	0.73	+2.36

Drawdowns

AVGC.L vs. ACWD.L - Drawdown Comparison

The maximum AVGC.L drawdown since its inception was -7.96%, smaller than the maximum ACWD.L drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for AVGC.L and ACWD.L.

Drawdown Indicators

	AVGC.L	ACWD.L	Difference
Max Drawdown Largest peak-to-trough decline	-7.96%	-33.64%	+25.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.96%	-8.73%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.64%	—
Current Drawdown Current decline from peak	-0.32%	-0.66%	+0.34%
Average Drawdown Average peak-to-trough decline	-1.00%	-4.67%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.09%	-0.14%

Volatility

AVGC.L vs. ACWD.L - Volatility Comparison

Avantis Global Equity UCITS ETF USD Accumulating (AVGC.L) and SPDR MSCI All Country World UCITS ETF (ACWD.L) have volatilities of 3.71% and 3.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGC.L	ACWD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	3.87%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	9.89%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	11.96%	12.56%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.09%	15.58%	-3.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.09%	15.85%	-3.76%

AVGC.L vs. ACWD.L - Expense Ratio Comparison

AVGC.L has a 0.35% expense ratio, which is higher than ACWD.L's 0.12% expense ratio.

Dividends

AVGC.L vs. ACWD.L - Dividend Comparison

Neither AVGC.L nor ACWD.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AVGC.L and ACWD.L in my portfolio?

With a correlation of 0.94, AVGC.L and ACWD.L 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 ETF is better, AVGC.L or ACWD.L?

On fees, ACWD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVGC.L or ACWD.L?

ACWD.L is cheaper with a 0.12% expense ratio, compared with 0.35% for AVGC.L.

What is the main difference between AVGC.L and ACWD.L?

AVGC.L tracks MSCI World IMI Index, while ACWD.L tracks MSCI ACWI Index. They also come from different issuers: Avantis and State Street. Their fees differ too: 0.35% for AVGC.L and 0.12% for ACWD.L.