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GLRE.L vs. ACWI.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GLRE.L vs. ACWI.L

Last updated Jun 5, 2026

GLRE.L (SPDR Dow Jones Global Real Estate UCITS ETF) and ACWI.L (SPDR MSCI ACWI UCITS ETF) are both exchange-traded funds - GLRE.L is a REIT fund tracking the FTSE EPRA Nareit Global TR USD, while ACWI.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, GLRE.L returned 3.13%/yr vs 12.67%/yr for ACWI.L. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.

Performance

GLRE.L vs. ACWI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones Global Real Estate UCITS ETF (GLRE.L) and SPDR MSCI ACWI UCITS ETF (ACWI.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, GLRE.L achieves a 6.61% return, which is significantly lower than ACWI.L's 11.55% return. Over the past 10 years, GLRE.L has underperformed ACWI.L with an annualized return of 3.13%, while ACWI.L has yielded a comparatively higher 12.67% annualized return.

GLRE.L

1D
0.19%
1M
-1.25%
YTD
6.61%
6M
6.73%
1Y
12.07%
3Y*
8.79%
5Y*
1.34%
10Y*
3.13%

ACWI.L

1D
0.01%
1M
4.40%
YTD
11.55%
6M
13.16%
1Y
29.03%
3Y*
21.18%
5Y*
11.34%
10Y*
12.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
GLRE.L
SPDR Dow Jones Global Real Estate UCITS ETF		6.61%9.96%-0.53%11.24%-25.26%30.62%-10.88%20.54%-6.34%9.87%
ACWI.L
SPDR MSCI ACWI UCITS ETF		11.55%22.95%17.67%21.68%-18.36%19.19%15.32%26.81%-9.98%23.68%

Correlation

The correlation between GLRE.L and ACWI.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.50

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

0.62

Correlation (10Y)
Calculated over the trailing 10-year period

0.57

Correlation (All Time)
Calculated using the full available price history since Nov 5, 2012

0.58

The correlation between GLRE.L and ACWI.L shifts across timeframes, from 0.44 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.

GLRE.L vs. ACWI.L - Sectors Allocation Comparison

Sectors
GLRE.L
ACWI.L

Real Estate

99.9%
1.7%

Industrials

0.0%
10.9%

Financial Services

0.0%
16.5%

Utilities

0.0%
2.7%

Basic Materials

-

3.6%

Communication Services

-

9.0%

Consumer Cyclical

-

9.3%

Consumer Defensive

-

4.9%

Energy

-

4.3%

Healthcare

-

8.0%

Technology

-

29.2%

Real Estate

GLRE.L
99.9%
ACWI.L
1.7%

Industrials

GLRE.L
0.0%
ACWI.L
10.9%

Financial Services

GLRE.L
0.0%
ACWI.L
16.5%

Utilities

GLRE.L
0.0%
ACWI.L
2.7%

Basic Materials

GLRE.L

-

ACWI.L
3.6%

Communication Services

GLRE.L

-

ACWI.L
9.0%

Consumer Cyclical

GLRE.L

-

ACWI.L
9.3%

Consumer Defensive

GLRE.L

-

ACWI.L
4.9%

Energy

GLRE.L

-

ACWI.L
4.3%

Healthcare

GLRE.L

-

ACWI.L
8.0%

Technology

GLRE.L

-

ACWI.L
29.2%

Compare stocks, funds, or ETFs

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SPDR Dow Jones Global Real Estate UCITS ETF

SPDR MSCI ACWI UCITS ETF

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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

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLRE.L
GLRE.L Risk / Return Rank: 2828
Overall Rank
GLRE.L Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GLRE.L Sortino Ratio Rank: 2727
Sortino Ratio Rank
GLRE.L Omega Ratio Rank: 2626
Omega Ratio Rank
GLRE.L Calmar Ratio Rank: 2727
Calmar Ratio Rank
GLRE.L Martin Ratio Rank: 3333
Martin Ratio Rank
ACWI.L
ACWI.L Risk / Return Rank: 8686
Overall Rank
ACWI.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
ACWI.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
ACWI.L Omega Ratio Rank: 8989
Omega Ratio Rank
ACWI.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
ACWI.L Martin Ratio Rank: 8585
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.

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

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate UCITS ETF (GLRE.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.

GLRE.LACWI.LDifference
Sharpe ratioReturn per unit of total volatility
0.98
2.44

-1.46

Sortino ratioReturn per unit of downside risk
1.48
3.56

-2.08

Omega ratioGain probability vs. loss probability

1.17

1.44

-0.28

Calmar ratioReturn relative to maximum drawdown

1.29

3.18

-1.89

Martin ratioReturn relative to average drawdown

4.80

13.81

-9.00

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

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

The current GLRE.L Sharpe Ratio is 0.98, which is lower than the ACWI.L Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of GLRE.L and ACWI.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

GLRE.LACWI.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.98

2.44

-1.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.08

0.74

-0.66

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.18

0.81

-0.63

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.66

-0.39

Drawdowns

GLRE.L vs. ACWI.L - Drawdown Comparison

The maximum GLRE.L drawdown since its inception was -43.26%, which is greater than ACWI.L's maximum drawdown of -33.59%. Use the drawdown chart below to compare losses from any high point for GLRE.L and ACWI.L.

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Drawdown Indicators

GLRE.LACWI.LDifference

Max Drawdown

Largest peak-to-trough decline

-43.26%

-33.59%

-9.67%

Max Drawdown (1Y)

Largest decline over 1 year

-9.30%

-9.09%

-0.21%

Max Drawdown (3Y)

Largest decline over 3 years

-18.30%

-17.16%

-1.14%

Max Drawdown (5Y)

Largest decline over 5 years

-33.83%

-26.90%

-6.93%

Max Drawdown (10Y)

Largest decline over 10 years

-43.26%

-33.59%

-9.67%

Current Drawdown

Current decline from peak

-3.54%

-0.72%

-2.82%

Average Drawdown

Average peak-to-trough decline

-10.11%

-4.91%

-5.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

2.10%

+0.41%

Volatility

GLRE.L vs. ACWI.L - Volatility Comparison

SPDR Dow Jones Global Real Estate UCITS ETF (GLRE.L) has a higher volatility of 3.84% compared to SPDR MSCI ACWI UCITS ETF (ACWI.L) at 3.36%. This indicates that GLRE.L's price experiences larger fluctuations and is considered to be riskier than ACWI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GLRE.LACWI.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.84%

3.36%

+0.48%

Volatility (6M)

Calculated over the trailing 6-month period

9.29%

9.21%

+0.08%

Volatility (1Y)

Calculated over the trailing 1-year period

12.30%

11.86%

+0.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.86%

15.24%

+1.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.67%

15.66%

+2.01%

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

Both GLRE.L and ACWI.L have an expense ratio of 0.40%.

Dividends

GLRE.L vs. ACWI.L - Dividend Comparison

GLRE.L's dividend yield for the trailing twelve months is around 2.58%, while ACWI.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
GLRE.L
SPDR Dow Jones Global Real Estate UCITS ETF		2.58%2.72%2.79%2.62%2.85%1.82%2.51%3.16%3.54%3.86%2.66%2.15%

Frequently Asked Questions

GLRE.L and ACWI.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

GLRE.L and ACWI.L have the same expense ratio: 0.40% per year.

GLRE.L is categorized as REIT, while ACWI.L is Global Equities. GLRE.L tracks FTSE EPRA Nareit Global TR USD, while ACWI.L tracks MSCI ACWI NR USD.

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