CWI vs. EIMI.L

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR MSCI ACWI ex-US ETF (CWI) and iShares Core MSCI EM IMI UCITS ETF (EIMI.L).

CWI and EIMI.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CWI is a passively managed fund by State Street that tracks the performance of the MSCI All Country World ex-U.S. Index. It was launched on Jan 10, 2007. EIMI.L is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Investable Market Index. It was launched on May 30, 2014. Both CWI and EIMI.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CWI vs. EIMI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI ACWI ex-US ETF (CWI) and iShares Core MSCI EM IMI UCITS ETF (EIMI.L). The values are adjusted to include any dividend payments, if applicable.

CWI vs. EIMI.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CWI SPDR MSCI ACWI ex-US ETF	3.01%	32.75%	6.27%	15.74%	-15.39%	8.81%	9.83%	21.92%	-13.83%	26.89%
EIMI.L iShares Core MSCI EM IMI UCITS ETF	4.48%	32.16%	7.36%	11.03%	-19.67%	-0.65%	18.80%	16.37%	-14.17%	36.95%

Returns By Period

In the year-to-date period, CWI achieves a 3.01% return, which is significantly lower than EIMI.L's 4.48% return. Over the past 10 years, CWI has outperformed EIMI.L with an annualized return of 9.14%, while EIMI.L has yielded a comparatively lower 8.46% annualized return.

CWI

• 1D: 1.12%
• 1M: -5.49%
• YTD: 3.01%
• 6M: 7.01%
• 1Y: 28.86%
• 3Y*: 16.29%
• 5Y*: 7.85%
• 10Y*: 9.14%

EIMI.L

• 1D: 4.13%
• 1M: -5.98%
• YTD: 4.48%
• 6M: 8.17%
• 1Y: 33.96%
• 3Y*: 16.49%
• 5Y*: 4.75%
• 10Y*: 8.46%

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

CWI vs. EIMI.L - Expense Ratio Comparison

CWI has a 0.30% expense ratio, which is higher than EIMI.L's 0.18% expense ratio.

CWI

SPDR MSCI ACWI ex-US ETF

EIMI.L

iShares Core MSCI EM IMI UCITS ETF

Return for Risk

CWI vs. EIMI.L — Risk / Return Rank

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

CWI

CWI Risk / Return Rank: 83
CWI Sharpe Ratio Rank: 83
CWI Sortino Ratio Rank: 84
CWI Omega Ratio Rank: 83
CWI Calmar Ratio Rank: 83
CWI Martin Ratio Rank: 83

EIMI.L

EIMI.L Risk / Return Rank: 85
EIMI.L Sharpe Ratio Rank: 86
EIMI.L Sortino Ratio Rank: 86
EIMI.L Omega Ratio Rank: 84
EIMI.L Calmar Ratio Rank: 86
EIMI.L Martin Ratio Rank: 83

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.

CWI vs. EIMI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI ex-US ETF (CWI) and iShares Core MSCI EM IMI UCITS ETF (EIMI.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.

	CWI	EIMI.L	Difference
Sharpe ratio Return per unit of total volatility	1.67	1.79	-0.13
Sortino ratio Return per unit of downside risk	2.28	2.35	-0.07
Omega ratio Gain probability vs. loss probability	1.34	1.34	0.00
Calmar ratio Return relative to maximum drawdown	2.54	2.68	-0.14
Martin ratio Return relative to average drawdown	9.73	9.80	-0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CWI vs. EIMI.L - Sharpe Ratio Comparison

The current CWI Sharpe Ratio is 1.67, which is comparable to the EIMI.L Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of CWI and EIMI.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CWI	EIMI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	1.79	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.27	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.45	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.28	-0.05

Correlation

The correlation between CWI and EIMI.L is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CWI vs. EIMI.L - Dividend Comparison

CWI's dividend yield for the trailing twelve months is around 2.88%, while EIMI.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWI SPDR MSCI ACWI ex-US ETF	2.88%	2.97%	2.89%	2.80%	3.17%	2.65%	2.07%	3.05%	2.81%	2.29%	2.45%	2.62%
EIMI.L iShares Core MSCI EM IMI UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CWI vs. EIMI.L - Drawdown Comparison

The maximum CWI drawdown since its inception was -60.77%, which is greater than EIMI.L's maximum drawdown of -38.73%. Use the drawdown chart below to compare losses from any high point for CWI and EIMI.L.

Drawdown Indicators

	CWI	EIMI.L	Difference
Max Drawdown Largest peak-to-trough decline	-60.77%	-38.73%	-22.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.47%	-12.66%	+1.19%
Max Drawdown (5Y) Largest decline over 5 years	-29.45%	-35.66%	+6.21%
Max Drawdown (10Y) Largest decline over 10 years	-34.64%	-38.73%	+4.09%
Current Drawdown Current decline from peak	-7.55%	-9.03%	+1.48%
Average Drawdown Average peak-to-trough decline	-12.95%	-14.21%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	3.47%	-0.47%

Volatility

CWI vs. EIMI.L - Volatility Comparison

The current volatility for SPDR MSCI ACWI ex-US ETF (CWI) is 7.54%, while iShares Core MSCI EM IMI UCITS ETF (EIMI.L) has a volatility of 8.48%. This indicates that CWI experiences smaller price fluctuations and is considered to be less risky than EIMI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CWI	EIMI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.54%	8.48%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	13.79%	-2.15%
Volatility (1Y) Calculated over the trailing 1-year period	17.39%	18.87%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.01%	17.75%	-1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	18.90%	-1.85%