FTWD.L vs. FWRA.L
FTWD.L (Invesco FTSE All-World UCITS ETF Dist) and FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) are both Global Equities funds from Invesco tracking the FTSE All-World Index. Both are passively managed. Over the past year, FTWD.L returned 29.73% vs 29.69% for FWRA.L. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.
Performance
FTWD.L vs. FWRA.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FTWD.L having a 11.83% return and FWRA.L slightly lower at 11.73%.
FTWD.L
- 1D
- -0.56%
- 1M
- 4.59%
- YTD
- 11.83%
- 6M
- 13.61%
- 1Y
- 29.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FWRA.L
- 1D
- -0.65%
- 1M
- 4.86%
- YTD
- 11.73%
- 6M
- 13.36%
- 1Y
- 29.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FTWD.L vs. FWRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FTWD.L Invesco FTSE All-World UCITS ETF Dist | 11.83% | 22.55% | 17.90% | 8.37% |
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation | 11.73% | 22.37% | 18.07% | 9.23% |
Correlation
The correlation between FTWD.L and FWRA.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.98 |
The correlation between FTWD.L and FWRA.L has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
FTWD.L vs. FWRA.L — Risk / Return Rank
FTWD.L
FWRA.L
FTWD.L vs. FWRA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF Dist (FTWD.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.
| FTWD.L | FWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.44 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 3.37 | +0.03 |
| Martin ratioReturn relative to average drawdown | 14.20 | 14.12 | +0.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FTWD.L | FWRA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.41 | 2.39 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.54 | 1.57 | -0.02 |
Drawdowns
FTWD.L vs. FWRA.L - Drawdown Comparison
The maximum FTWD.L drawdown since its inception was -16.68%, roughly equal to the maximum FWRA.L drawdown of -16.60%. Use the drawdown chart below to compare losses from any high point for FTWD.L and FWRA.L.
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Drawdown Indicators
| FTWD.L | FWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.68% | -16.60% | -0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.72% | -8.74% | +0.02% |
Current DrawdownCurrent decline from peak | -0.56% | -0.65% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -1.92% | -1.93% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.09% | 0.00% |
Volatility
FTWD.L vs. FWRA.L - Volatility Comparison
Invesco FTSE All-World UCITS ETF Dist (FTWD.L) and Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) have volatilities of 3.94% and 3.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTWD.L | FWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.94% | 3.79% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 9.63% | 9.86% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.31% | 12.33% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 13.53% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.62% | 13.53% | +0.09% |
FTWD.L vs. FWRA.L - Expense Ratio Comparison
Both FTWD.L and FWRA.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FTWD.L vs. FWRA.L - Dividend Comparison
FTWD.L's dividend yield for the trailing twelve months is around 1.22%, while FWRA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FTWD.L Invesco FTSE All-World UCITS ETF Dist | 1.22% | 1.34% | 1.53% | 0.69% |
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, FTWD.L and FWRA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
FTWD.L and FWRA.L have the same expense ratio: 0.15% per year.
Both ETFs track FTSE All-World Index.
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