ECMA.DE vs. FWIA.DE

Last updated Jun 5, 2026

ECMA.DE (Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc) and FWIA.DE (Invesco FTSE All-World UCITS ETF Acc) are both exchange-traded funds - ECMA.DE is a European Corporate Bonds fund tracking the Invesco EUR Corporate Bond ESG Multi-Factor, while FWIA.DE is a Global Equities fund tracking the FTSE All-World. Both are passively managed. Over the past year, ECMA.DE returned 2.04% vs 26.39% for FWIA.DE. At a 0.30 correlation, their price movements are largely independent. ECMA.DE charges 0.19%/yr vs 0.15%/yr for FWIA.DE.

Performance

ECMA.DE vs. FWIA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) and Invesco FTSE All-World UCITS ETF Acc (FWIA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ECMA.DE achieves a 0.50% return, which is significantly lower than FWIA.DE's 12.60% return.

ECMA.DE

• 1D: 0.10%
• 1M: 0.29%
• YTD: 0.50%
• 6M: 0.46%
• 1Y: 2.04%
• 3Y*: 4.49%
• 5Y*: —
• 10Y*: —

FWIA.DE

• 1D: -0.22%
• 1M: 3.67%
• YTD: 12.60%
• 6M: 12.82%
• 1Y: 26.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ECMA.DE vs. FWIA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ECMA.DE Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc	0.50%	2.90%	4.30%	6.02%
FWIA.DE Invesco FTSE All-World UCITS ETF Acc	12.60%	9.02%	24.70%	7.73%

Correlation

The correlation between ECMA.DE and FWIA.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.30

The correlation between ECMA.DE and FWIA.DE shifts across timeframes, from 0.30 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ECMA.DE vs. FWIA.DE — Risk / Return Rank

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

ECMA.DE

ECMA.DE Risk / Return Rank: 18
ECMA.DE Sharpe Ratio Rank: 18
ECMA.DE Sortino Ratio Rank: 17
ECMA.DE Omega Ratio Rank: 17
ECMA.DE Calmar Ratio Rank: 17
ECMA.DE Martin Ratio Rank: 19

FWIA.DE

FWIA.DE Risk / Return Rank: 77
FWIA.DE Sharpe Ratio Rank: 74
FWIA.DE Sortino Ratio Rank: 74
FWIA.DE Omega Ratio Rank: 76
FWIA.DE Calmar Ratio Rank: 80
FWIA.DE 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.

ECMA.DE vs. FWIA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) and Invesco FTSE All-World UCITS ETF Acc (FWIA.DE). 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.

	ECMA.DE	FWIA.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.53	2.36	-1.83
Sortino ratio: Return per unit of downside risk	0.80	3.31	-2.51
Omega ratio: Gain probability vs. loss probability	1.10	1.44	-0.34
Calmar ratio: Return relative to maximum drawdown	0.62	4.08	-3.46
Martin ratio: Return relative to average drawdown	2.07	16.52	-14.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ECMA.DE vs. FWIA.DE - Sharpe Ratio Comparison

The current ECMA.DE Sharpe Ratio is 0.53, which is lower than the FWIA.DE Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of ECMA.DE and FWIA.DE, 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

	ECMA.DE	FWIA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	2.36	-1.83
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	1.40	-0.59

Drawdowns

ECMA.DE vs. FWIA.DE - Drawdown Comparison

The maximum ECMA.DE drawdown since its inception was -8.91%, smaller than the maximum FWIA.DE drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for ECMA.DE and FWIA.DE.

Drawdown Indicators

	ECMA.DE	FWIA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-8.91%	-20.96%	+12.05%
Max Drawdown (1Y) Largest decline over 1 year	-2.68%	-6.49%	+3.81%
Max Drawdown (3Y) Largest decline over 3 years	-2.68%	—	—
Current Drawdown Current decline from peak	-0.76%	-0.62%	-0.14%
Average Drawdown Average peak-to-trough decline	-2.10%	-2.44%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	1.60%	-0.80%

Volatility

ECMA.DE vs. FWIA.DE - Volatility Comparison

The current volatility for Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) is 1.28%, while Invesco FTSE All-World UCITS ETF Acc (FWIA.DE) has a volatility of 2.96%. This indicates that ECMA.DE experiences smaller price fluctuations and is considered to be less risky than FWIA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECMA.DE	FWIA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	2.96%	-1.68%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	8.09%	-5.33%
Volatility (1Y) Calculated over the trailing 1-year period	3.13%	11.22%	-8.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.16%	13.18%	-9.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.16%	13.18%	-9.02%

ECMA.DE vs. FWIA.DE - Expense Ratio Comparison

ECMA.DE has a 0.19% expense ratio, which is higher than FWIA.DE's 0.15% 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

ECMA.DE vs. FWIA.DE - Dividend Comparison

Neither ECMA.DE nor FWIA.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ECMA.DE and FWIA.DE in my portfolio?

ECMA.DE and FWIA.DE have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ECMA.DE or FWIA.DE?

On fees, FWIA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ECMA.DE or FWIA.DE?

FWIA.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for ECMA.DE.

What is the main difference between ECMA.DE and FWIA.DE?

ECMA.DE is categorized as European Corporate Bonds, while FWIA.DE is Global Equities. ECMA.DE tracks Invesco EUR Corporate Bond ESG Multi-Factor, while FWIA.DE tracks FTSE All-World. Their fees differ too: 0.19% for ECMA.DE and 0.15% for FWIA.DE.