CW8U.L vs. MXWO.L

Last updated Jun 5, 2026

CW8U.L (Amundi MSCI World UCITS USD) and MXWO.L (Invesco MSCI World UCITS ETF) are both Global Equities funds tracking the MSCI ACWI NR USD, from Amundi and Invesco respectively. Both are passively managed. Over the past 10 years, CW8U.L returned 12.85%/yr vs 13.12%/yr for MXWO.L. Their correlation of 0.94 suggests significant overlap in exposure. CW8U.L charges 0.28%/yr vs 0.19%/yr for MXWO.L.

Performance

CW8U.L vs. MXWO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amundi MSCI World UCITS USD (CW8U.L) and Invesco MSCI World UCITS ETF (MXWO.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CW8U.L having a 9.80% return and MXWO.L slightly higher at 9.99%. Both investments have delivered pretty close results over the past 10 years, with CW8U.L having a 12.85% annualized return and MXWO.L not far ahead at 13.12%.

CW8U.L

• 1D: 0.08%
• 1M: 4.18%
• YTD: 9.80%
• 6M: 10.88%
• 1Y: 25.61%
• 3Y*: 20.52%
• 5Y*: 11.60%
• 10Y*: 12.85%

MXWO.L

• 1D: 0.04%
• 1M: 4.21%
• YTD: 9.99%
• 6M: 11.10%
• 1Y: 26.14%
• 3Y*: 20.86%
• 5Y*: 11.92%
• 10Y*: 13.12%

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

CW8U.L vs. MXWO.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CW8U.L Amundi MSCI World UCITS USD	9.80%	20.32%	19.03%	24.06%	-18.23%	22.09%	15.78%	28.00%	-9.95%	22.67%
MXWO.L Invesco MSCI World UCITS ETF	9.99%	20.83%	19.19%	24.56%	-18.08%	22.12%	16.27%	27.41%	-9.08%	22.79%

Correlation

The correlation between CW8U.L and MXWO.L is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Nov 28, 2011	0.94

The correlation between CW8U.L and MXWO.L has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.

CW8U.L vs. MXWO.L - Sectors Allocation Comparison

Sectors	CW8U.L	MXWO.L
Technology	28.3%	28.3%
Financial Services	15.7%	15.7%
Industrials	11.4%	11.4%
Consumer Cyclical	9.3%	9.3%
Communication Services	9.3%	9.3%
Healthcare	8.8%	8.8%
Consumer Defensive	5.2%	5.2%
Energy	4.2%	4.2%
Basic Materials	3.3%	3.3%
Utilities	2.7%	2.7%
Real Estate	1.9%	1.9%

Return for Risk

CW8U.L vs. MXWO.L — Risk / Return Rank

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

CW8U.L

CW8U.L Risk / Return Rank: 68
CW8U.L Sharpe Ratio Rank: 66
CW8U.L Sortino Ratio Rank: 73
CW8U.L Omega Ratio Rank: 67
CW8U.L Calmar Ratio Rank: 61
CW8U.L Martin Ratio Rank: 70

MXWO.L

MXWO.L Risk / Return Rank: 69
MXWO.L Sharpe Ratio Rank: 68
MXWO.L Sortino Ratio Rank: 74
MXWO.L Omega Ratio Rank: 68
MXWO.L Calmar Ratio Rank: 64
MXWO.L Martin Ratio Rank: 72

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.

CW8U.L vs. MXWO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI World UCITS USD (CW8U.L) and Invesco MSCI World UCITS ETF (MXWO.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.

	CW8U.L	MXWO.L	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.19	-0.03
Sortino ratio: Return per unit of downside risk	3.23	3.26	-0.03
Omega ratio: Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	3.01	3.12	-0.12
Martin ratio: Return relative to average drawdown	12.87	13.34	-0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CW8U.L vs. MXWO.L - Sharpe Ratio Comparison

The current CW8U.L Sharpe Ratio is 2.16, which is comparable to the MXWO.L Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of CW8U.L and MXWO.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

	CW8U.L	MXWO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.19	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.76	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.82	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.86	-0.12

Drawdowns

CW8U.L vs. MXWO.L - Drawdown Comparison

The maximum CW8U.L drawdown since its inception was -34.10%, roughly equal to the maximum MXWO.L drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for CW8U.L and MXWO.L.

Drawdown Indicators

	CW8U.L	MXWO.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.10%	-33.89%	-0.21%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-8.34%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-17.26%	-17.85%	+0.59%
Max Drawdown (5Y) Largest decline over 5 years	-25.79%	-25.80%	+0.01%
Max Drawdown (10Y) Largest decline over 10 years	-34.10%	-33.89%	-0.21%
Current Drawdown Current decline from peak	-0.41%	-0.45%	+0.04%
Average Drawdown Average peak-to-trough decline	-4.49%	-4.31%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	1.95%	+0.03%

Volatility

CW8U.L vs. MXWO.L - Volatility Comparison

Amundi MSCI World UCITS USD (CW8U.L) and Invesco MSCI World UCITS ETF (MXWO.L) have volatilities of 3.27% and 3.32%, 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

	CW8U.L	MXWO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	3.32%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	9.15%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	11.88%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	15.75%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.84%	15.93%	-0.09%

CW8U.L vs. MXWO.L - Expense Ratio Comparison

CW8U.L has a 0.28% expense ratio, which is higher than MXWO.L's 0.19% expense ratio.

Dividends

CW8U.L vs. MXWO.L - Dividend Comparison

Neither CW8U.L nor MXWO.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CW8U.L and MXWO.L in my portfolio?

With a correlation of 0.99, CW8U.L and MXWO.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, CW8U.L or MXWO.L?

On fees, MXWO.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CW8U.L or MXWO.L?

MXWO.L is cheaper with a 0.19% expense ratio, compared with 0.28% for CW8U.L.

What is the main difference between CW8U.L and MXWO.L?

Both ETFs track MSCI ACWI NR USD. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.28% for CW8U.L and 0.19% for MXWO.L.