GLCB.L vs. SWLD.L
Compare and contrast key facts about SPDR Refinitiv Global Convertible Bond UCITS ETF (GLCB.L) and SPDR MSCI World UCITS ETF (SWLD.L).
GLCB.L and SWLD.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. SWLD.L is a passively managed fund by State Street that tracks the performance of the MSCI ACWI NR USD. It was launched on Feb 28, 2019. Both GLCB.L and SWLD.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. SWLD.L - Performance Comparison
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GLCB.L vs. SWLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GLCB.L SPDR Refinitiv Global Convertible Bond UCITS ETF | 69.42% | 269.52% | 123.23% | 45.30% | 18.17% | 18.45% | 117.36% | 48.39% |
SWLD.L SPDR MSCI World UCITS ETF | -3.15% | 12.85% | 21.19% | 17.70% | -8.06% | 23.66% | 12.00% | 14.48% |
Different Trading Currencies
GLCB.L is traded in GBp, while SWLD.L is traded in GBP. To make them comparable, the SWLD.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 SWLD.L's -3.15% 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*
- —
SWLD.L
- 1D
- 0.50%
- 1M
- -5.39%
- YTD
- -3.15%
- 6M
- 0.91%
- 1Y
- 16.15%
- 3Y*
- 14.19%
- 5Y*
- 11.06%
- 10Y*
- —
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GLCB.L vs. SWLD.L - Expense Ratio Comparison
GLCB.L has a 0.50% expense ratio, which is higher than SWLD.L's 0.12% expense ratio.
Return for Risk
GLCB.L vs. SWLD.L — Risk / Return Rank
GLCB.L
SWLD.L
GLCB.L vs. SWLD.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 World UCITS ETF (SWLD.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.L | SWLD.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.41 | 1.13 | +1.28 |
Sortino ratioReturn per unit of downside risk | 22.26 | 1.59 | +20.67 |
Omega ratioGain probability vs. loss probability | 3.97 | 1.24 | +2.74 |
Calmar ratioReturn relative to maximum drawdown | 46.94 | 1.42 | +45.52 |
Martin ratioReturn relative to average drawdown | 142.21 | 6.25 | +135.96 |
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
| GLCB.L | SWLD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.41 | 1.13 | +1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.36 | 0.83 | +0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.50 | 0.80 | +0.70 |
Correlation
The correlation between GLCB.L and SWLD.L is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
GLCB.L vs. SWLD.L - Dividend Comparison
GLCB.L's dividend yield for the trailing twelve months is around 74.78%, while SWLD.L has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% |
SWLD.L SPDR MSCI World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GLCB.L vs. SWLD.L - Drawdown Comparison
The maximum GLCB.L drawdown since its inception was -15.28%, smaller than the maximum SWLD.L drawdown of -25.85%. Use the drawdown chart below to compare losses from any high point for GLCB.L and SWLD.L.
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Drawdown Indicators
| GLCB.L | SWLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.28% | -25.85% | +10.57% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -10.45% | +5.34% |
Max Drawdown (5Y)Largest decline over 5 years | -10.65% | -18.65% | +8.00% |
Current DrawdownCurrent decline from peak | -5.11% | -5.39% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -3.23% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 2.37% | -0.68% |
Volatility
GLCB.L vs. SWLD.L - Volatility Comparison
SPDR Refinitiv Global Convertible Bond UCITS ETF (GLCB.L) and SPDR MSCI World UCITS ETF (SWLD.L) have volatilities of 4.09% and 4.04%, 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
| GLCB.L | SWLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 4.04% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 52.17% | 7.94% | +44.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 98.63% | 14.23% | +84.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.03% | 13.25% | +53.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.48% | 15.36% | +44.12% |