ESES.L vs. FWRA.L
ESES.L (Invesco MSCI Emerging Markets Universal Screened UCITS ETF) and FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) are both exchange-traded funds - ESES.L is a Emerging Markets Equities fund tracking the Invesco MSCI Emerging Markets Universal Screened UCITS ETF, while FWRA.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 3 years, ESES.L returned 18.98%/yr vs 17.79%/yr for FWRA.L. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
ESES.L vs. FWRA.L - Performance Comparison
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Different Trading Currencies
ESES.L is traded in GBp, while FWRA.L is traded in USD. To make them comparable, the FWRA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, ESES.L achieves a 22.99% return, which is significantly higher than FWRA.L's 10.60% return.
ESES.L
- 1D
- -0.75%
- 1M
- -5.75%
- 6M
- 17.36%
- YTD
- 22.99%
- 1Y
- 39.41%
- 3Y*
- 18.98%
- 5Y*
- 7.51%
- 10Y*
- —
FWRA.L
- 1D
- -0.93%
- 1M
- -1.51%
- 6M
- 8.83%
- YTD
- 10.60%
- 1Y
- 22.24%
- 3Y*
- 17.79%
- 5Y*
- —
- 10Y*
- —
ESES.L vs. FWRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ESES.L Invesco MSCI Emerging Markets Universal Screened UCITS ETF | 22.99% | 24.05% | 7.54% | 4.70% |
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation | 10.60% | 13.69% | 20.10% | 9.85% |
Correlation
The correlation between ESES.L and FWRA.L is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.63 |
The correlation between ESES.L and FWRA.L has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.
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Return for Risk
ESES.L vs. FWRA.L — Risk / Return Rank
ESES.L
FWRA.L
ESES.L vs. FWRA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Emerging Markets Universal Screened UCITS ETF (ESES.L) and Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.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.
| ESES.L | FWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.34 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 3.20 | +0.43 |
| Martin ratioReturn relative to average drawdown | 11.46 | 11.68 | -0.22 |
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Drawdowns
ESES.L vs. FWRA.L - Drawdown Comparison
The maximum ESES.L drawdown since its inception was -23.59%, which is greater than FWRA.L's maximum drawdown of -17.88%. Use the drawdown chart below to compare losses from any high point for ESES.L and FWRA.L.
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Drawdown Indicators
| ESES.L | FWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.59% | -17.88% | -5.71% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -6.94% | -3.85% |
Max Drawdown (3Y)Largest decline over 3 years | -23.59% | -17.88% | -5.71% |
Max Drawdown (5Y)Largest decline over 5 years | -23.59% | — | — |
Current DrawdownCurrent decline from peak | -7.86% | -2.57% | -5.29% |
Average DrawdownAverage peak-to-trough decline | -10.52% | -2.04% | -8.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 1.90% | +1.53% |
Volatility
ESES.L vs. FWRA.L - Volatility Comparison
Invesco MSCI Emerging Markets Universal Screened UCITS ETF (ESES.L) has a higher volatility of 7.50% compared to Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) at 3.33%. This indicates that ESES.L's price experiences larger fluctuations and is considered to be riskier than FWRA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESES.L | FWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 3.33% | +4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 17.04% | 10.05% | +6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.04% | 12.38% | +6.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.66% | 13.05% | +8.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,197.93% | 13.05% | +3,184.88% |
Dividends
ESES.L vs. FWRA.L - Dividend Comparison
Neither ESES.L nor FWRA.L has paid dividends to shareholders.
Frequently Asked Questions
ESES.L and FWRA.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESES.L is categorized as Emerging Markets Equities, while FWRA.L is Global Equities. ESES.L tracks Invesco MSCI Emerging Markets Universal Screened UCITS ETF, while FWRA.L tracks FTSE All-World Index.
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