EXI vs. ACWI

Last updated Jun 4, 2026

EXI (iShares Global Industrials ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - EXI is a Industrials Equities fund tracking the S&P Global 1200 / Industrials -SEC, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, EXI returned 12.43%/yr vs 12.85%/yr for ACWI. Their correlation of 0.89 suggests significant overlap in exposure. EXI charges 0.43%/yr vs 0.32%/yr for ACWI.

Performance

EXI vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Industrials ETF (EXI) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXI achieves a 10.88% return, which is significantly lower than ACWI's 12.13% return. Both investments have delivered pretty close results over the past 10 years, with EXI having a 12.43% annualized return and ACWI not far ahead at 12.85%.

EXI

• 1D: -0.21%
• 1M: 1.21%
• YTD: 10.88%
• 6M: 13.08%
• 1Y: 22.09%
• 3Y*: 20.74%
• 5Y*: 11.17%
• 10Y*: 12.43%

ACWI

• 1D: -0.83%
• 1M: 5.28%
• YTD: 12.13%
• 6M: 12.96%
• 1Y: 29.18%
• 3Y*: 21.15%
• 5Y*: 11.28%
• 10Y*: 12.85%

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

EXI vs. ACWI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXI iShares Global Industrials ETF	10.88%	25.88%	12.47%	22.04%	-12.36%	17.37%	11.33%	27.13%	-14.41%	25.16%
ACWI iShares MSCI ACWI ETF	12.13%	22.41%	17.45%	22.27%	-18.39%	18.66%	16.34%	26.59%	-9.19%	24.33%

Correlation

The correlation between EXI and ACWI is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008	0.89

The correlation between EXI and ACWI has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

EXI vs. ACWI - Sectors Allocation Comparison

Sectors	EXI	ACWI
Industrials	92.8%	10.9%
Utilities	2.9%	2.6%
Technology	2.7%	29.4%
Communication Services	0.6%	9.0%
Consumer Cyclical	0.6%	9.3%
Basic Materials	0.2%	3.7%
Financial Services	0.1%	16.1%
Consumer Defensive	0.1%	5.0%
Energy	-	4.2%
Healthcare	-	8.1%
Real Estate	-	1.8%

Return for Risk

EXI vs. ACWI — Risk / Return Rank

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

EXI

EXI Risk / Return Rank: 40
EXI Sharpe Ratio Rank: 38
EXI Sortino Ratio Rank: 40
EXI Omega Ratio Rank: 39
EXI Calmar Ratio Rank: 36
EXI Martin Ratio Rank: 44

ACWI

ACWI Risk / Return Rank: 66
ACWI Sharpe Ratio Rank: 68
ACWI Sortino Ratio Rank: 67
ACWI Omega Ratio Rank: 67
ACWI Calmar Ratio Rank: 59
ACWI Martin Ratio Rank: 71

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.

EXI vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Industrials ETF (EXI) and iShares MSCI ACWI ETF (ACWI). 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.

	EXI	ACWI	Difference
Sharpe ratio Return per unit of total volatility	1.39	2.29	-0.90
Sortino ratio Return per unit of downside risk	2.09	3.17	-1.08
Omega ratio Gain probability vs. loss probability	1.26	1.41	-0.16
Calmar ratio Return relative to maximum drawdown	1.80	3.01	-1.22
Martin ratio Return relative to average drawdown	7.30	13.53	-6.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXI vs. ACWI - Sharpe Ratio Comparison

The current EXI Sharpe Ratio is 1.39, which is lower than the ACWI Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of EXI and ACWI, 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

	EXI	ACWI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	2.29	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.71	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.75	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.43	-0.01

Drawdowns

EXI vs. ACWI - Drawdown Comparison

The maximum EXI drawdown since its inception was -62.60%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for EXI and ACWI.

Drawdown Indicators

	EXI	ACWI	Difference
Max Drawdown Largest peak-to-trough decline	-62.60%	-56.00%	-6.60%
Max Drawdown (1Y) Largest decline over 1 year	-12.35%	-9.73%	-2.62%
Max Drawdown (3Y) Largest decline over 3 years	-14.38%	-16.55%	+2.17%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-26.42%	-0.81%
Max Drawdown (10Y) Largest decline over 10 years	-39.56%	-33.53%	-6.03%
Current Drawdown Current decline from peak	-3.16%	-0.83%	-2.33%
Average Drawdown Average peak-to-trough decline	-9.97%	-8.61%	-1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.16%	+0.87%

Volatility

EXI vs. ACWI - Volatility Comparison

iShares Global Industrials ETF (EXI) has a higher volatility of 5.33% compared to iShares MSCI ACWI ETF (ACWI) at 3.93%. This indicates that EXI's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXI	ACWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.33%	3.93%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	13.42%	10.29%	+3.13%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	12.78%	+3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	16.05%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	17.11%	+1.30%

EXI vs. ACWI - Expense Ratio Comparison

EXI has a 0.43% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

EXI vs. ACWI - Dividend Comparison

EXI's dividend yield for the trailing twelve months is around 1.19%, less than ACWI's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.38%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
EXI iShares Global Industrials ETF	1.19%	1.32%	1.47%	1.84%	1.63%	1.42%	1.26%	1.72%	2.21%	1.48%	1.75%	1.95%

Frequently Asked Questions

Can I hold both EXI and ACWI in my portfolio?

EXI and ACWI have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EXI or ACWI?

EXI has higher volatility (5.33%) compared to ACWI (3.93%). In terms of maximum drawdown, EXI dropped -62.60% vs ACWI's -56.00%.

Which ETF is better, EXI or ACWI?

On 10-year performance, ACWI leads with 12.85% vs 12.43% for EXI. On fees, ACWI is cheaper at 0.32% per year. On volatility, ACWI has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EXI or ACWI?

Over the 10-year period, ACWI has performed better with a 12.85% return vs 12.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EXI or ACWI?

ACWI is cheaper with a 0.32% expense ratio, compared with 0.43% for EXI.

Which ETF pays a higher dividend yield, EXI or ACWI?

ACWI has the higher dividend yield at 1.38%, compared with 1.19% for EXI.

What is the main difference between EXI and ACWI?

EXI is categorized as Industrials Equities, while ACWI is Global Equities. EXI tracks S&P Global 1200 / Industrials -SEC, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.43% for EXI and 0.32% for ACWI.

Which has better risk-adjusted returns?

ACWI currently has the higher Sharpe Ratio (2.29 vs 1.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.