CDIS.L vs. SWLD.L

Last updated Jul 16, 2026

CDIS.L (State Street SPDR MSCI Europe Consumer Discretionary UCITS ETF) and SWLD.L (State Street SPDR MSCI World UCITS ETF) are both exchange-traded funds - CDIS.L is a Consumer Discretionary Equities fund tracking the MSCI Europe Consumer Discretionary 35/20 Capped Index, while SWLD.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, CDIS.L returned -0.19%/yr vs 12.53%/yr for SWLD.L. A 0.65 correlation means they provide meaningful diversification when combined. CDIS.L charges 0.18%/yr vs 0.12%/yr for SWLD.L.

Performance

CDIS.L vs. SWLD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in State Street SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDIS.L) and State Street SPDR MSCI World UCITS ETF (SWLD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CDIS.L is traded in EUR, while SWLD.L is traded in GBP. To make them comparable, the SWLD.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, CDIS.L achieves a -7.44% return, which is significantly lower than SWLD.L's 13.20% return.

CDIS.L

• 1D: 2.59%
• 1M: -0.99%
• 6M: -7.40%
• YTD: -7.44%
• 1Y: -0.53%
• 3Y*: -3.14%
• 5Y*: -0.19%
• 10Y*: 5.68%

SWLD.L

• 1D: 0.03%
• 1M: 1.68%
• 6M: 11.15%
• YTD: 13.20%
• 1Y: 23.95%
• 3Y*: 18.34%
• 5Y*: 12.53%
• 10Y*: —

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

CDIS.L vs. SWLD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CDIS.L State Street SPDR MSCI Europe Consumer Discretionary UCITS ETF	-7.44%	1.95%	3.66%	15.14%	-15.77%	22.45%	6.11%	16.72%
SWLD.L State Street SPDR MSCI World UCITS ETF	13.20%	6.95%	27.05%	20.18%	-12.80%	31.70%	5.91%	-11.78%

Correlation

The correlation between CDIS.L and SWLD.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Feb 26, 2019	0.65

Over the past year, the correlation between CDIS.L and SWLD.L has dropped to 0.45 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

Return for Risk

CDIS.L vs. SWLD.L — Risk / Return Rank

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

CDIS.L

CDIS.L Risk / Return Rank: 9
CDIS.L Sharpe Ratio Rank: 9
CDIS.L Sortino Ratio Rank: 9
CDIS.L Omega Ratio Rank: 9
CDIS.L Calmar Ratio Rank: 9
CDIS.L Martin Ratio Rank: 9

SWLD.L

SWLD.L Risk / Return Rank: 80
SWLD.L Sharpe Ratio Rank: 80
SWLD.L Sortino Ratio Rank: 79
SWLD.L Omega Ratio Rank: 80
SWLD.L Calmar Ratio Rank: 78
SWLD.L Martin Ratio Rank: 82

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.

CDIS.L vs. SWLD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDIS.L) and State Street SPDR MSCI World UCITS ETF (SWLD.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.

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.

	CDIS.L	SWLD.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	2.18	-2.21
Sortino ratio: Return per unit of downside risk	0.10	3.04	-2.94
Omega ratio: Gain probability vs. loss probability	1.01	1.41	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.03	3.68	-3.71
Martin ratio: Return relative to average drawdown	-0.06	14.95	-15.00

CDIS.L vs. SWLD.L - Sharpe Ratio Comparison

The current CDIS.L Sharpe Ratio is -0.03, which is lower than the SWLD.L Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of CDIS.L and SWLD.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.

Drawdowns

CDIS.L vs. SWLD.L - Drawdown Comparison

The maximum CDIS.L drawdown since its inception was -41.60%, which is greater than SWLD.L's maximum drawdown of -37.21%. Use the drawdown chart below to compare losses from any high point for CDIS.L and SWLD.L.

Drawdown Indicators

	CDIS.L	SWLD.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.60%	-37.21%	-4.39%
Max Drawdown (1Y) Largest decline over 1 year	-20.58%	-6.48%	-14.10%
Max Drawdown (3Y) Largest decline over 3 years	-26.56%	-21.05%	-5.51%
Max Drawdown (5Y) Largest decline over 5 years	-30.15%	-21.05%	-9.10%
Max Drawdown (10Y) Largest decline over 10 years	-41.60%	—	—
Current Drawdown Current decline from peak	-15.58%	-0.05%	-15.53%
Average Drawdown Average peak-to-trough decline	-10.27%	-8.00%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.21%	1.60%	+7.61%

Volatility

CDIS.L vs. SWLD.L - Volatility Comparison

State Street SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDIS.L) has a higher volatility of 5.59% compared to State Street SPDR MSCI World UCITS ETF (SWLD.L) at 2.47%. This indicates that CDIS.L's price experiences larger fluctuations and is considered to be riskier than SWLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDIS.L	SWLD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	2.47%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	16.03%	7.86%	+8.17%
Volatility (1Y) Calculated over the trailing 1-year period	19.31%	10.95%	+8.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.96%	19.68%	+1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.30%	21.66%	-1.36%

CDIS.L vs. SWLD.L - Expense Ratio Comparison

CDIS.L has a 0.18% expense ratio, which is higher than SWLD.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CDIS.L vs. SWLD.L - Dividend Comparison

Neither CDIS.L nor SWLD.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CDIS.L and SWLD.L in my portfolio?

CDIS.L and SWLD.L have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CDIS.L or SWLD.L?

On fees, SWLD.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, CDIS.L or SWLD.L?

SWLD.L is cheaper with a 0.12% expense ratio, compared with 0.18% for CDIS.L.

What is the main difference between CDIS.L and SWLD.L?

CDIS.L is categorized as Consumer Discretionary Equities, while SWLD.L is Global Equities. CDIS.L tracks MSCI Europe Consumer Discretionary 35/20 Capped Index, while SWLD.L tracks MSCI World Index. Their fees differ too: 0.18% for CDIS.L and 0.12% for SWLD.L.