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FWRA.L vs. ISWD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FWRA.L vs. ISWD.L

Last updated Jun 5, 2026

FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) and ISWD.L (iShares MSCI World Islamic UCITS ETF USD (Dist)) are both Global Equities funds - FWRA.L tracks the FTSE All-World Index while ISWD.L tracks the MSCI World Islamic Index. Both are passively managed. Over the past year, FWRA.L returned 28.82% vs 37.31% for ISWD.L. Their correlation of 0.85 suggests significant overlap in exposure. FWRA.L charges 0.15%/yr vs 0.60%/yr for ISWD.L.

Performance

FWRA.L vs. ISWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) and iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FWRA.L is traded in USD, while ISWD.L is traded in GBp. To make them comparable, the ISWD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FWRA.L achieves a 11.59% return, which is significantly lower than ISWD.L's 19.77% return.

FWRA.L

1D
-0.13%
1M
4.28%
YTD
11.59%
6M
13.01%
1Y
28.82%
3Y*
—
5Y*
—
10Y*
—

ISWD.L

1D
-0.20%
1M
8.70%
YTD
19.77%
6M
21.01%
1Y
37.31%
3Y*
18.86%
5Y*
12.48%
10Y*
11.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023
FWRA.L
Invesco FTSE All-World UCITS ETF USD Accumulation		11.59%22.37%18.07%9.23%
ISWD.L
iShares MSCI World Islamic UCITS ETF USD (Dist)		19.77%20.00%6.05%8.18%

Correlation

The correlation between FWRA.L and ISWD.L is 0.84, 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

0.84

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2023

0.85

The correlation between FWRA.L and ISWD.L has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

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

Sectors
FWRA.L
ISWD.L

Technology

29.1%
42.8%

Financial Services

16.4%
0.0%

Industrials

11.0%
12.9%

Consumer Cyclical

9.4%
6.9%

Communication Services

8.9%
0.4%

Healthcare

7.6%
10.4%

Consumer Defensive

5.0%
3.7%

Energy

4.3%
11.6%

Basic Materials

3.9%
9.6%

Utilities

2.6%
1.1%

Real Estate

1.9%
0.2%

Technology

FWRA.L
29.1%
ISWD.L
42.8%

Financial Services

FWRA.L
16.4%
ISWD.L
0.0%

Industrials

FWRA.L
11.0%
ISWD.L
12.9%

Consumer Cyclical

FWRA.L
9.4%
ISWD.L
6.9%

Communication Services

FWRA.L
8.9%
ISWD.L
0.4%

Healthcare

FWRA.L
7.6%
ISWD.L
10.4%

Consumer Defensive

FWRA.L
5.0%
ISWD.L
3.7%

Energy

FWRA.L
4.3%
ISWD.L
11.6%

Basic Materials

FWRA.L
3.9%
ISWD.L
9.6%

Utilities

FWRA.L
2.6%
ISWD.L
1.1%

Real Estate

FWRA.L
1.9%
ISWD.L
0.2%

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Invesco FTSE All-World UCITS ETF USD Accumulation

iShares MSCI World Islamic UCITS ETF USD (Dist)

Often compared with FWRA.L:
FWRA.L vs. VWRA.LFWRA.L vs. ACWD.LFWRA.L vs. VWCE.DEFWRA.L vs. SPYL.LFWRA.L vs. CSPX.LFWRA.L vs. FWRGFWRA.L vs. ISAC.L
Often compared with ISWD.L:
ISWD.L vs. IGDA.LISWD.L vs. SPUSISWD.L vs. HLALISWD.L vs. VOOISWD.L vs. SPWOISWD.L vs. UMMAISWD.L vs. HIWS.L

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FWRA.L
FWRA.L Risk / Return Rank: 7373
Overall Rank
FWRA.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
FWRA.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
FWRA.L Omega Ratio Rank: 7373
Omega Ratio Rank
FWRA.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
FWRA.L Martin Ratio Rank: 7474
Martin Ratio Rank
ISWD.L
ISWD.L Risk / Return Rank: 9393
Overall Rank
ISWD.L Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
ISWD.L Sortino Ratio Rank: 9393
Sortino Ratio Rank
ISWD.L Omega Ratio Rank: 9393
Omega Ratio Rank
ISWD.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
ISWD.L Martin Ratio Rank: 9393
Martin Ratio Rank
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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) and iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.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.

FWRA.LISWD.LDifference
Sharpe ratioReturn per unit of total volatility
2.32
2.93

-0.62

Sortino ratioReturn per unit of downside risk
3.44
4.14

-0.70

Omega ratioGain probability vs. loss probability

1.43

1.51

-0.08

Calmar ratioReturn relative to maximum drawdown

3.27

5.09

-1.82

Martin ratioReturn relative to average drawdown

13.70

18.41

-4.71

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FWRA.L Sharpe Ratio is 2.32, which is comparable to the ISWD.L Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of FWRA.L and ISWD.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.

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Sharpe Ratios by Period

FWRA.LISWD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.32

2.93

-0.62

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.81

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.75

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.56

0.51

+1.05

Drawdowns

FWRA.L vs. ISWD.L - Drawdown Comparison

The maximum FWRA.L drawdown since its inception was -16.60%, smaller than the maximum ISWD.L drawdown of -48.12%. Use the drawdown chart below to compare losses from any high point for FWRA.L and ISWD.L.

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Drawdown Indicators

FWRA.LISWD.LDifference

Max Drawdown

Largest peak-to-trough decline

-16.60%

-48.12%

+31.52%

Max Drawdown (1Y)

Largest decline over 1 year

-8.74%

-7.30%

-1.44%

Max Drawdown (3Y)

Largest decline over 3 years

—

-18.46%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.70%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.38%

—

Current Drawdown

Current decline from peak

-0.77%

-0.20%

-0.57%

Average Drawdown

Average peak-to-trough decline

-1.93%

-4.70%

+2.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

2.02%

+0.07%

Volatility

FWRA.L vs. ISWD.L - Volatility Comparison

The current volatility for Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) is 3.80%, while iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L) has a volatility of 4.07%. This indicates that FWRA.L experiences smaller price fluctuations and is considered to be less risky than ISWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FWRA.LISWD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.80%

4.07%

-0.27%

Volatility (6M)

Calculated over the trailing 6-month period

9.86%

9.72%

+0.14%

Volatility (1Y)

Calculated over the trailing 1-year period

12.32%

12.65%

-0.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.52%

15.46%

-1.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.52%

15.67%

-2.15%

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

FWRA.L has a 0.15% expense ratio, which is lower than ISWD.L's 0.60% expense ratio.

Dividends

FWRA.L vs. ISWD.L - Dividend Comparison

FWRA.L has not paid dividends to shareholders, while ISWD.L's dividend yield for the trailing twelve months is around 1.27%.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
ISWD.L
iShares MSCI World Islamic UCITS ETF USD (Dist)		1.27%1.50%1.74%1.99%2.43%1.98%1.88%2.37%2.39%2.09%2.09%2.62%

Frequently Asked Questions

FWRA.L and ISWD.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

FWRA.L is cheaper with a 0.15% expense ratio, compared with 0.60% for ISWD.L.

FWRA.L tracks FTSE All-World Index, while ISWD.L tracks MSCI World Islamic Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.15% for FWRA.L and 0.60% for ISWD.L.

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