FGQI.L vs. FWRA.L

Last updated Jul 16, 2026

FGQI.L (Fidelity Global Quality Income UCITS ETF (Inc) USD) and FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) are both exchange-traded funds - FGQI.L is a Global Equity Income fund tracking the Fidelity Global Quality Income Index, while FWRA.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 3 years, FGQI.L returned 16.45%/yr vs 19.09%/yr for FWRA.L. Their correlation of 0.83 suggests significant overlap in exposure. FGQI.L charges 0.40%/yr vs 0.15%/yr for FWRA.L.

Performance

FGQI.L vs. FWRA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Global Quality Income UCITS ETF (Inc) USD (FGQI.L) and Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FGQI.L having a 11.13% return and FWRA.L slightly lower at 11.06%.

FGQI.L

• 1D: 0.09%
• 1M: 0.70%
• 6M: 9.05%
• YTD: 11.13%
• 1Y: 23.55%
• 3Y*: 16.45%
• 5Y*: 11.02%
• 10Y*: —

FWRA.L

• 1D: 0.11%
• 1M: -0.64%
• 6M: 9.50%
• YTD: 11.06%
• 1Y: 23.54%
• 3Y*: 19.09%
• 5Y*: —
• 10Y*: —

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

FGQI.L vs. FWRA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FGQI.L Fidelity Global Quality Income UCITS ETF (Inc) USD	11.13%	20.08%	11.79%	10.51%
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation	11.06%	22.42%	18.04%	10.02%

Correlation

The correlation between FGQI.L and FWRA.L is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023	0.83

The correlation between FGQI.L and FWRA.L has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

FGQI.L vs. FWRA.L - Sectors Allocation Comparison

Sectors	FGQI.L	FWRA.L
Technology	28.2%	32.4%
Financial Services	17.0%	16.4%
Industrials	12.5%	10.5%
Healthcare	9.3%	8.1%
Consumer Cyclical	8.8%	8.6%
Communication Services	7.7%	7.6%
Consumer Defensive	5.0%	4.7%
Basic Materials	3.0%	3.4%
Energy	2.8%	3.3%
Utilities	2.5%	2.7%
Real Estate	1.9%	1.7%

Return for Risk

FGQI.L vs. FWRA.L — Risk / Return Rank

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

FGQI.L

FGQI.L Risk / Return Rank: 76
FGQI.L Sharpe Ratio Rank: 76
FGQI.L Sortino Ratio Rank: 81
FGQI.L Omega Ratio Rank: 73
FGQI.L Calmar Ratio Rank: 72
FGQI.L Martin Ratio Rank: 80

FWRA.L

FWRA.L Risk / Return Rank: 72
FWRA.L Sharpe Ratio Rank: 71
FWRA.L Sortino Ratio Rank: 77
FWRA.L Omega Ratio Rank: 72
FWRA.L Calmar Ratio Rank: 67
FWRA.L Martin Ratio Rank: 73

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.

FGQI.L vs. FWRA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Quality Income UCITS ETF (Inc) USD (FGQI.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.

	FGQI.L	FWRA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.83	+0.10
Sortino ratio: Return per unit of downside risk	2.91	2.75	+0.17
Omega ratio: Gain probability vs. loss probability	1.35	1.34	+0.01
Calmar ratio: Return relative to maximum drawdown	2.92	2.68	+0.23
Martin ratio: Return relative to average drawdown	11.97	10.70	+1.28

FGQI.L vs. FWRA.L - Sharpe Ratio Comparison

The current FGQI.L Sharpe Ratio is 1.93, which is comparable to the FWRA.L Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of FGQI.L and FWRA.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.

Drawdowns

FGQI.L vs. FWRA.L - Drawdown Comparison

The maximum FGQI.L drawdown since its inception was -35.05%, which is greater than FWRA.L's maximum drawdown of -16.50%. Use the drawdown chart below to compare losses from any high point for FGQI.L and FWRA.L.

Drawdown Indicators

	FGQI.L	FWRA.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.05%	-16.50%	-18.55%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-8.78%	+0.74%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	-16.50%	+0.71%
Max Drawdown (5Y) Largest decline over 5 years	-22.11%	—	—
Current Drawdown Current decline from peak	0.00%	-1.16%	+1.16%
Average Drawdown Average peak-to-trough decline	-4.08%	-1.92%	-2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	2.20%	-0.24%

Volatility

FGQI.L vs. FWRA.L - Volatility Comparison

The current volatility for Fidelity Global Quality Income UCITS ETF (Inc) USD (FGQI.L) is 2.63%, while Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) has a volatility of 3.20%. This indicates that FGQI.L experiences smaller price fluctuations and is considered to be less risky than FWRA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGQI.L	FWRA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	3.20%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	10.60%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	12.88%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	13.61%	+1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.68%	13.61%	+2.07%

FGQI.L vs. FWRA.L - Expense Ratio Comparison

FGQI.L has a 0.40% expense ratio, which is higher than FWRA.L's 0.15% expense ratio.

Dividends

FGQI.L vs. FWRA.L - Dividend Comparison

FGQI.L's dividend yield for the trailing twelve months is around 1.78%, while FWRA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGQI.L Fidelity Global Quality Income UCITS ETF (Inc) USD	1.78%	1.81%	2.32%	2.71%	2.77%	2.52%	2.45%	2.34%	2.78%	1.50%
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FGQI.L and FWRA.L in my portfolio?

FGQI.L and FWRA.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FGQI.L or FWRA.L?

On fees, FWRA.L 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, FGQI.L or FWRA.L?

FWRA.L is cheaper with a 0.15% expense ratio, compared with 0.40% for FGQI.L.

What is the main difference between FGQI.L and FWRA.L?

FGQI.L is categorized as Global Equity Income, while FWRA.L is Global Equities. FGQI.L tracks Fidelity Global Quality Income Index, while FWRA.L tracks FTSE All-World Index. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.40% for FGQI.L and 0.15% for FWRA.L.