FTWG.L vs. ICLU.L
FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) and ICLU.L (Invesco USD AAA CLO UCITS ETF Acc) are both exchange-traded funds - FTWG.L is a Global Equities fund tracking the FTSE All-World Index, while ICLU.L is a CLO fund actively managed by Invesco. FTWG.L is passively managed, while ICLU.L is actively managed. Over the past year, FTWG.L returned 29.13% vs 8.29% for ICLU.L. At a 0.09 correlation, their price movements are largely independent. FTWG.L charges 0.15%/yr vs 0.25%/yr for ICLU.L.
Performance
FTWG.L vs. ICLU.L - Performance Comparison
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Different Trading Currencies
FTWG.L is traded in GBp, while ICLU.L is traded in USD. To make them comparable, the ICLU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FTWG.L achieves a 12.01% return, which is significantly higher than ICLU.L's 4.49% return.
FTWG.L
- 1D
- 0.62%
- 1M
- 1.84%
- YTD
- 12.01%
- 6M
- 12.72%
- 1Y
- 29.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICLU.L
- 1D
- 0.00%
- 1M
- 2.13%
- YTD
- 4.49%
- 6M
- 4.82%
- 1Y
- 8.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FTWG.L vs. ICLU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist | 12.01% | 9.71% |
ICLU.L Invesco USD AAA CLO UCITS ETF Acc | 4.49% | -4.33% |
Correlation
The correlation between FTWG.L and ICLU.L is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2025 | 0.09 |
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Return for Risk
FTWG.L vs. ICLU.L — Risk / Return Rank
FTWG.L
ICLU.L
FTWG.L vs. ICLU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) and Invesco USD AAA CLO UCITS ETF Acc (ICLU.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.
| FTWG.L | ICLU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.22 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 1.74 | +2.34 |
| Martin ratioReturn relative to average drawdown | 16.22 | 4.93 | +11.29 |
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Drawdowns
FTWG.L vs. ICLU.L - Drawdown Comparison
The maximum FTWG.L drawdown since its inception was -22.14%, which is greater than ICLU.L's maximum drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for FTWG.L and ICLU.L.
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Drawdown Indicators
| FTWG.L | ICLU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.14% | -8.54% | -13.60% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -4.76% | -2.35% |
Max Drawdown (3Y)Largest decline over 3 years | -22.14% | — | — |
Current DrawdownCurrent decline from peak | -0.93% | -0.03% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -4.36% | -2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.68% | +0.11% |
Volatility
FTWG.L vs. ICLU.L - Volatility Comparison
Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) has a higher volatility of 3.65% compared to Invesco USD AAA CLO UCITS ETF Acc (ICLU.L) at 1.53%. This indicates that FTWG.L's price experiences larger fluctuations and is considered to be riskier than ICLU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTWG.L | ICLU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 1.53% | +2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 8.13% | 5.13% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.70% | 6.68% | +4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 7.20% | +9.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.72% | 7.20% | +9.52% |
FTWG.L vs. ICLU.L - Expense Ratio Comparison
FTWG.L has a 0.15% expense ratio, which is lower than ICLU.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FTWG.L vs. ICLU.L - Dividend Comparison
FTWG.L's dividend yield for the trailing twelve months is around 1.25%, while ICLU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist | 1.25% | 1.34% | 1.50% | 0.70% |
ICLU.L Invesco USD AAA CLO UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FTWG.L and ICLU.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FTWG.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FTWG.L is cheaper with a 0.15% expense ratio, compared with 0.25% for ICLU.L.
FTWG.L is categorized as Global Equities, while ICLU.L is CLO. Their fees differ too: 0.15% for FTWG.L and 0.25% for ICLU.L.
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