PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
GLCB.L vs. ACWI.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

GLCB.L vs. ACWI.L

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Refinitiv Global Convertible Bond UCITS ETF (GLCB.L) and SPDR MSCI ACWI UCITS ETF (ACWI.L).

GLCB.L and ACWI.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLCB.L is a passively managed fund by State Street that tracks the performance of the Refinitiv Global CB TR USD. It was launched on Oct 14, 2014. ACWI.L is a passively managed fund by State Street that tracks the performance of the MSCI ACWI NR USD. It was launched on May 13, 2011. Both GLCB.L and ACWI.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GLCB.L vs. ACWI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR Refinitiv Global Convertible Bond UCITS ETF (GLCB.L) and SPDR MSCI ACWI UCITS ETF (ACWI.L). The values are adjusted to include any dividend payments, if applicable.

Loading graphics...

GLCB.L vs. ACWI.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
GLCB.L
SPDR Refinitiv Global Convertible Bond UCITS ETF		69.42%269.52%123.23%45.30%18.17%18.45%117.36%92.24%26.06%
ACWI.L
SPDR MSCI ACWI UCITS ETF		-2.48%14.32%19.66%15.59%-8.59%20.28%11.89%21.92%-5.93%
Different Trading Currencies

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

Returns By Period

In the year-to-date period, GLCB.L achieves a 69.42% return, which is significantly higher than ACWI.L's -2.48% return.

GLCB.L

1D
-0.02%
1M
-4.92%
YTD
69.42%
6M
75.68%
1Y
240.06%
3Y*
158.89%
5Y*
91.31%
10Y*
—

ACWI.L

1D
0.41%
1M
-5.97%
YTD
-2.48%
6M
1.68%
1Y
17.75%
3Y*
14.00%
5Y*
10.17%
10Y*
12.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Refinitiv Global Convertible Bond UCITS ETF

SPDR MSCI ACWI UCITS ETF

Often compared with GLCB.L:
GLCB.L vs. FLOA.LGLCB.L vs. QQQYGLCB.L vs. BMAXGLCB.L vs. SWRD.LGLCB.L vs. SWLD.LGLCB.L vs. ACWD.LGLCB.L vs. SPY5.L
Often compared with ACWI.L:
ACWI.L vs. VWCE.DEACWI.L vs. ACWIACWI.L vs. IWDA.LACWI.L vs. SPYACWI.L vs. SSAC.LACWI.L vs. CSPX.ASACWI.L vs. IMID.L

GLCB.L vs. ACWI.L - Expense Ratio Comparison

GLCB.L has a 0.50% expense ratio, which is higher than ACWI.L's 0.40% expense ratio.

GLCB.L
SPDR Refinitiv Global Convertible Bond UCITS ETF
ACWI.L
SPDR MSCI ACWI UCITS ETF

Return for Risk

GLCB.L vs. ACWI.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLCB.L
GLCB.L Risk / Return Rank: 9999
Overall Rank
GLCB.L Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
GLCB.L Sortino Ratio Rank: 100100
Sortino Ratio Rank
GLCB.L Omega Ratio Rank: 9999
Omega Ratio Rank
GLCB.L Calmar Ratio Rank: 100100
Calmar Ratio Rank
GLCB.L Martin Ratio Rank: 9999
Martin Ratio Rank
ACWI.L
ACWI.L Risk / Return Rank: 7171
Overall Rank
ACWI.L Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ACWI.L Sortino Ratio Rank: 7272
Sortino Ratio Rank
ACWI.L Omega Ratio Rank: 7474
Omega Ratio Rank
ACWI.L Calmar Ratio Rank: 6565
Calmar Ratio Rank
ACWI.L Martin Ratio Rank: 7070
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.

GLCB.L vs. ACWI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Refinitiv Global Convertible Bond UCITS ETF (GLCB.L) and SPDR MSCI ACWI UCITS ETF (ACWI.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.

GLCB.LACWI.LDifference

Sharpe ratio

Return per unit of total volatility

2.41

1.26

+1.15

Sortino ratio

Return per unit of downside risk

22.26

1.74

+20.52

Omega ratio

Gain probability vs. loss probability

3.97

1.26

+2.71

Calmar ratio

Return relative to maximum drawdown

46.94

1.55

+45.39

Martin ratio

Return relative to average drawdown

142.21

6.71

+135.50

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

GLCB.L vs. ACWI.L - Sharpe Ratio Comparison

The current GLCB.L Sharpe Ratio is 2.41, which is higher than the ACWI.L Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of GLCB.L and ACWI.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Loading graphics...

Sharpe Ratios by Period

GLCB.LACWI.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.41

1.26

+1.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.36

0.78

+0.58

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.84

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.50

0.74

+0.75

Correlation

The correlation between GLCB.L and ACWI.L is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GLCB.L vs. ACWI.L - Dividend Comparison

GLCB.L's dividend yield for the trailing twelve months is around 74.78%, while ACWI.L has not paid dividends to shareholders.

TTM20252024202320222021202020192018
GLCB.L
SPDR Refinitiv Global Convertible Bond UCITS ETF		74.78%77.76%55.57%26.13%27.42%19.20%35.35%48.00%23.37%
ACWI.L
SPDR MSCI ACWI UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

GLCB.L vs. ACWI.L - Drawdown Comparison

The maximum GLCB.L drawdown since its inception was -15.28%, smaller than the maximum ACWI.L drawdown of -25.44%. Use the drawdown chart below to compare losses from any high point for GLCB.L and ACWI.L.

Loading graphics...

Drawdown Indicators

GLCB.LACWI.LDifference

Max Drawdown

Largest peak-to-trough decline

-15.28%

-25.44%

+10.16%

Max Drawdown (1Y)

Largest decline over 1 year

-5.11%

-10.51%

+5.40%

Max Drawdown (5Y)

Largest decline over 5 years

-10.65%

-18.07%

+7.42%

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.44%

—

Current Drawdown

Current decline from peak

-5.11%

-5.97%

+0.86%

Average Drawdown

Average peak-to-trough decline

-2.57%

-3.70%

+1.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.69%

2.42%

-0.73%

Volatility

GLCB.L vs. ACWI.L - Volatility Comparison

The current volatility for SPDR Refinitiv Global Convertible Bond UCITS ETF (GLCB.L) is 4.09%, while SPDR MSCI ACWI UCITS ETF (ACWI.L) has a volatility of 4.35%. This indicates that GLCB.L experiences smaller price fluctuations and is considered to be less risky than ACWI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading graphics...

Volatility by Period

GLCB.LACWI.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

4.35%

-0.26%

Volatility (6M)

Calculated over the trailing 6-month period

52.17%

8.12%

+44.05%

Volatility (1Y)

Calculated over the trailing 1-year period

98.63%

14.03%

+84.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

67.03%

13.05%

+53.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

59.48%

14.38%

+45.10%