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GBDV.L vs. IWDG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GBDV.L vs. IWDG.L

Last updated Jun 5, 2026

GBDV.L (SPDR S&P Global Dividend Aristocrats UCITS) and IWDG.L (iShares Core MSCI World UCITS ETF) are both Global Equities funds - GBDV.L tracks the S&P Global Dividend Aristocrats index while IWDG.L tracks the MSCI World Index. Both are passively managed. Over the past 5 years, GBDV.L returned 7.43%/yr vs 10.65%/yr for IWDG.L. A 0.57 correlation means they provide meaningful diversification when combined. GBDV.L charges 0.45%/yr vs 0.30%/yr for IWDG.L.

Performance

GBDV.L vs. IWDG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P Global Dividend Aristocrats UCITS (GBDV.L) and iShares Core MSCI World UCITS ETF (IWDG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

GBDV.L is traded in GBP, while IWDG.L is traded in GBp. To make them comparable, the IWDG.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, GBDV.L achieves a 7.03% return, which is significantly lower than IWDG.L's 9.47% return.

GBDV.L

1D
0.56%
1M
0.73%
YTD
7.03%
6M
7.39%
1Y
19.22%
3Y*
12.48%
5Y*
7.43%
10Y*
7.98%

IWDG.L

1D
0.12%
1M
4.47%
YTD
9.47%
6M
10.42%
1Y
25.01%
3Y*
18.86%
5Y*
10.65%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

GBDV.L vs. IWDG.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GBDV.L
SPDR S&P Global Dividend Aristocrats UCITS		7.03%10.06%9.77%1.90%5.38%17.41%-11.68%16.85%-2.63%5.61%
IWDG.L
iShares Core MSCI World UCITS ETF		9.47%17.23%19.76%21.24%-18.78%22.69%10.08%22.49%-10.46%8.18%

Correlation

The correlation between GBDV.L and IWDG.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (All Time)
Calculated using the full available price history since May 26, 2017

0.57

Over the past year, the correlation between GBDV.L and IWDG.L has dropped to 0.32 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

GBDV.L vs. IWDG.L - Sectors Allocation Comparison

Sectors
GBDV.L
IWDG.L

Financial Services

24.9%
15.2%

Utilities

15.9%
2.8%

Real Estate

12.1%
1.7%

Industrials

11.5%
10.7%

Communication Services

9.5%
8.8%

Consumer Defensive

8.0%
5.0%

Energy

7.3%
3.9%

Healthcare

4.2%
8.5%

Consumer Cyclical

2.4%
8.9%

Technology

2.2%
30.4%

Basic Materials

2.0%
3.2%

Financial Services

GBDV.L
24.9%
IWDG.L
15.2%

Utilities

GBDV.L
15.9%
IWDG.L
2.8%

Real Estate

GBDV.L
12.1%
IWDG.L
1.7%

Industrials

GBDV.L
11.5%
IWDG.L
10.7%

Communication Services

GBDV.L
9.5%
IWDG.L
8.8%

Consumer Defensive

GBDV.L
8.0%
IWDG.L
5.0%

Energy

GBDV.L
7.3%
IWDG.L
3.9%

Healthcare

GBDV.L
4.2%
IWDG.L
8.5%

Consumer Cyclical

GBDV.L
2.4%
IWDG.L
8.9%

Technology

GBDV.L
2.2%
IWDG.L
30.4%

Basic Materials

GBDV.L
2.0%
IWDG.L
3.2%

Compare stocks, funds, or ETFs

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SPDR S&P Global Dividend Aristocrats UCITS

iShares Core MSCI World UCITS ETF

Often compared with GBDV.L:
GBDV.L vs. VHYL.ASGBDV.L vs. VHYD.LGBDV.L vs. SDIVGBDV.L vs. IUKD.LGBDV.L vs. XGSD.LGBDV.L vs. FLXX.DEGBDV.L vs. TDGB.L
Often compared with IWDG.L:
IWDG.L vs. NQSE.DEIWDG.L vs. EVLUIWDG.L vs. IGDA.LIWDG.L vs. EUNK.DEIWDG.L vs. VUSA.DEIWDG.L vs. VTIWDG.L vs. IS3N.DE

Return for Risk

GBDV.L vs. IWDG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GBDV.L
GBDV.L Risk / Return Rank: 6565
Overall Rank
GBDV.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
GBDV.L Sortino Ratio Rank: 6868
Sortino Ratio Rank
GBDV.L Omega Ratio Rank: 6767
Omega Ratio Rank
GBDV.L Calmar Ratio Rank: 6565
Calmar Ratio Rank
GBDV.L Martin Ratio Rank: 5757
Martin Ratio Rank
IWDG.L
IWDG.L Risk / Return Rank: 7070
Overall Rank
IWDG.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IWDG.L Sortino Ratio Rank: 7171
Sortino Ratio Rank
IWDG.L Omega Ratio Rank: 6868
Omega Ratio Rank
IWDG.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
IWDG.L Martin Ratio Rank: 7575
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.

GBDV.L vs. IWDG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Global Dividend Aristocrats UCITS (GBDV.L) and iShares Core MSCI World UCITS ETF (IWDG.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.

GBDV.LIWDG.LDifference
Sharpe ratioReturn per unit of total volatility
2.17
2.18

-0.01

Sortino ratioReturn per unit of downside risk
3.04
3.19

-0.15

Omega ratioGain probability vs. loss probability

1.39

1.40

-0.01

Calmar ratioReturn relative to maximum drawdown

3.17

3.26

-0.09

Martin ratioReturn relative to average drawdown

9.91

14.14

-4.23

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

GBDV.L vs. IWDG.L - Sharpe Ratio Comparison

The current GBDV.L Sharpe Ratio is 2.17, which is comparable to the IWDG.L Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of GBDV.L and IWDG.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

GBDV.LIWDG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.17

2.18

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

0.72

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.64

+0.01

Drawdowns

GBDV.L vs. IWDG.L - Drawdown Comparison

The maximum GBDV.L drawdown since its inception was -34.77%, roughly equal to the maximum IWDG.L drawdown of -34.20%. Use the drawdown chart below to compare losses from any high point for GBDV.L and IWDG.L.

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Drawdown Indicators

GBDV.LIWDG.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.77%

-34.20%

-0.57%

Max Drawdown (1Y)

Largest decline over 1 year

-6.04%

-7.64%

+1.60%

Max Drawdown (3Y)

Largest decline over 3 years

-13.42%

-17.57%

+4.15%

Max Drawdown (5Y)

Largest decline over 5 years

-15.84%

-23.79%

+7.95%

Max Drawdown (10Y)

Largest decline over 10 years

-34.77%

—

—

Current Drawdown

Current decline from peak

-1.64%

-0.36%

-1.28%

Average Drawdown

Average peak-to-trough decline

-5.16%

-5.14%

-0.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

1.76%

+0.17%

Volatility

GBDV.L vs. IWDG.L - Volatility Comparison

The current volatility for SPDR S&P Global Dividend Aristocrats UCITS (GBDV.L) is 2.26%, while iShares Core MSCI World UCITS ETF (IWDG.L) has a volatility of 3.12%. This indicates that GBDV.L experiences smaller price fluctuations and is considered to be less risky than IWDG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GBDV.LIWDG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.26%

3.12%

-0.86%

Volatility (6M)

Calculated over the trailing 6-month period

6.52%

8.64%

-2.12%

Volatility (1Y)

Calculated over the trailing 1-year period

8.81%

11.43%

-2.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.74%

14.85%

-3.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.13%

15.96%

-1.83%

GBDV.L vs. IWDG.L - Expense Ratio Comparison

GBDV.L has a 0.45% expense ratio, which is higher than IWDG.L's 0.30% expense ratio.

Dividends

GBDV.L vs. IWDG.L - Dividend Comparison

GBDV.L's dividend yield for the trailing twelve months is around 4.50%, more than IWDG.L's 0.01% yield.

PositionTTM20252024202320222021202020192018201720162015
GBDV.L
SPDR S&P Global Dividend Aristocrats UCITS		4.50%4.91%4.49%4.87%5.05%4.26%4.41%4.41%5.18%4.26%4.74%5.72%
IWDG.L
iShares Core MSCI World UCITS ETF		0.01%0.01%0.01%0.01%0.02%0.01%0.01%0.02%0.02%0.01%0.00%0.00%

Frequently Asked Questions

GBDV.L and IWDG.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IWDG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IWDG.L is cheaper with a 0.30% expense ratio, compared with 0.45% for GBDV.L.

GBDV.L tracks S&P Global Dividend Aristocrats index, while IWDG.L tracks MSCI World Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.45% for GBDV.L and 0.30% for IWDG.L.

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