FSWD.L vs. MXUD.L
FSWD.L (iShares STOXX World Equity Multifactor UCITS ETF USD (Acc)) and MXUD.L (Invesco MSCI USA UCITS ETF Dist) are both exchange-traded funds - FSWD.L is a Global Equities fund tracking the STOXX Developed World Equity Factor Screened Net Index, while MXUD.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 5 years, FSWD.L returned 11.68%/yr vs 13.03%/yr for MXUD.L. Their correlation of 0.86 suggests significant overlap in exposure. FSWD.L charges 0.30%/yr vs 0.05%/yr for MXUD.L.
Performance
FSWD.L vs. MXUD.L - Performance Comparison
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Different Trading Currencies
FSWD.L is traded in GBp, while MXUD.L is traded in USD. To make them comparable, the MXUD.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FSWD.L achieves a 12.10% return, which is significantly higher than MXUD.L's 9.18% return.
FSWD.L
- 1D
- -0.82%
- 1M
- -0.61%
- 6M
- 10.73%
- YTD
- 12.10%
- 1Y
- 24.41%
- 3Y*
- 18.45%
- 5Y*
- 11.68%
- 10Y*
- 11.49%
MXUD.L
- 1D
- -1.03%
- 1M
- -1.56%
- 6M
- 7.49%
- YTD
- 9.18%
- 1Y
- 19.45%
- 3Y*
- 18.37%
- 5Y*
- 13.03%
- 10Y*
- —
FSWD.L vs. MXUD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FSWD.L iShares STOXX World Equity Multifactor UCITS ETF USD (Acc) | 12.10% | 17.16% | 18.87% | 9.04% | -5.40% | 22.11% | 6.89% | 0.49% |
MXUD.L Invesco MSCI USA UCITS ETF Dist | 9.18% | 9.07% | 27.65% | 21.46% | -10.38% | 28.98% | 17.31% | 1.52% |
Correlation
The correlation between FSWD.L and MXUD.L is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2019 | 0.86 |
The correlation between FSWD.L and MXUD.L has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.
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Return for Risk
FSWD.L vs. MXUD.L — Risk / Return Rank
FSWD.L
MXUD.L
FSWD.L vs. MXUD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares STOXX World Equity Multifactor UCITS ETF USD (Acc) (FSWD.L) and Invesco MSCI USA UCITS ETF Dist (MXUD.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.
| FSWD.L | MXUD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.28 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 2.57 | +1.55 |
| Martin ratioReturn relative to average drawdown | 15.80 | 8.21 | +7.58 |
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Drawdowns
FSWD.L vs. MXUD.L - Drawdown Comparison
The maximum FSWD.L drawdown since its inception was -37.43%, which is greater than MXUD.L's maximum drawdown of -26.56%. Use the drawdown chart below to compare losses from any high point for FSWD.L and MXUD.L.
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Drawdown Indicators
| FSWD.L | MXUD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.43% | -26.56% | -10.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.90% | -7.54% | +1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -19.93% | -21.48% | +1.55% |
Max Drawdown (5Y)Largest decline over 5 years | -19.93% | -21.48% | +1.55% |
Max Drawdown (10Y)Largest decline over 10 years | -26.27% | — | — |
Current DrawdownCurrent decline from peak | -1.42% | -1.87% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -7.38% | -3.83% | -3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 2.36% | -0.82% |
Volatility
FSWD.L vs. MXUD.L - Volatility Comparison
The current volatility for iShares STOXX World Equity Multifactor UCITS ETF USD (Acc) (FSWD.L) is 2.86%, while Invesco MSCI USA UCITS ETF Dist (MXUD.L) has a volatility of 3.36%. This indicates that FSWD.L experiences smaller price fluctuations and is considered to be less risky than MXUD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSWD.L | MXUD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 3.36% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 8.36% | 9.52% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.94% | 12.50% | -1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.86% | 15.79% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.40% | 17.51% | -0.11% |
FSWD.L vs. MXUD.L - Expense Ratio Comparison
FSWD.L has a 0.30% expense ratio, which is higher than MXUD.L's 0.05% expense ratio.
Dividends
FSWD.L vs. MXUD.L - Dividend Comparison
FSWD.L has not paid dividends to shareholders, while MXUD.L's dividend yield for the trailing twelve months is around 1.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FSWD.L iShares STOXX World Equity Multifactor UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MXUD.L Invesco MSCI USA UCITS ETF Dist | 1.08% | 1.13% | 1.30% | 1.47% | 1.66% | 1.27% | 1.47% | 0.20% |
Frequently Asked Questions
FSWD.L and MXUD.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MXUD.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MXUD.L is cheaper with a 0.05% expense ratio, compared with 0.30% for FSWD.L.
FSWD.L is categorized as Global Equities, while MXUD.L is Large Cap Blend Equities. FSWD.L tracks STOXX Developed World Equity Factor Screened Net Index, while MXUD.L tracks Russell 1000 TR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.30% for FSWD.L and 0.05% for MXUD.L.
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