IARCX vs. ACWI
IARCX (Invesco Real Estate Fund) and ACWI (iShares MSCI ACWI ETF) are both funds - IARCX is a REIT fund managed by Invesco, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Over the past 10 years, IARCX returned 3.38%/yr vs 12.85%/yr for ACWI. A 0.63 correlation means they provide meaningful diversification when combined. IARCX charges 1.98%/yr vs 0.32%/yr for ACWI.
Performance
IARCX vs. ACWI - Performance Comparison
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Returns By Period
In the year-to-date period, IARCX achieves a 10.50% return, which is significantly lower than ACWI's 12.13% return. Over the past 10 years, IARCX has underperformed ACWI with an annualized return of 3.38%, while ACWI has yielded a comparatively higher 12.85% annualized return.
IARCX
- 1D
- 0.52%
- 1M
- -0.63%
- YTD
- 10.50%
- 6M
- 9.82%
- 1Y
- 8.39%
- 3Y*
- 6.04%
- 5Y*
- 0.56%
- 10Y*
- 3.38%
ACWI
- 1D
- -0.83%
- 1M
- 5.28%
- YTD
- 12.13%
- 6M
- 12.96%
- 1Y
- 29.18%
- 3Y*
- 21.15%
- 5Y*
- 11.28%
- 10Y*
- 12.85%
IARCX vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IARCX Invesco Real Estate Fund | 10.50% | -0.91% | 1.03% | 7.95% | -25.40% | 39.81% | -11.68% | 26.50% | -6.36% | 7.61% |
ACWI iShares MSCI ACWI ETF | 12.13% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 26.59% | -9.19% | 24.33% |
Correlation
The correlation between IARCX and ACWI is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008 | 0.63 |
Over the past year, the correlation between IARCX and ACWI has dropped to 0.36 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
IARCX vs. ACWI — Risk / Return Rank
IARCX
ACWI
IARCX vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Real Estate Fund (IARCX) and iShares MSCI ACWI ETF (ACWI). 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.
| IARCX | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.41 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 3.01 | -2.04 |
| Martin ratioReturn relative to average drawdown | 2.73 | 13.53 | -10.80 |
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
| IARCX | ACWI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.60 | 2.29 | -1.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.71 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.75 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.43 | -0.41 |
Drawdowns
IARCX vs. ACWI - Drawdown Comparison
The maximum IARCX drawdown since its inception was -82.76%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for IARCX and ACWI.
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Drawdown Indicators
| IARCX | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.76% | -56.00% | -26.76% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -9.73% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -18.05% | -16.55% | -1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -34.83% | -26.42% | -8.41% |
Max Drawdown (10Y)Largest decline over 10 years | -42.45% | -33.53% | -8.92% |
Current DrawdownCurrent decline from peak | -10.92% | -0.83% | -10.09% |
Average DrawdownAverage peak-to-trough decline | -36.14% | -8.61% | -27.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.16% | +0.74% |
Volatility
IARCX vs. ACWI - Volatility Comparison
Invesco Real Estate Fund (IARCX) and iShares MSCI ACWI ETF (ACWI) have volatilities of 4.03% and 3.93%, 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
| IARCX | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 3.93% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 9.59% | 10.29% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.13% | 12.78% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 16.05% | +2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.84% | 17.11% | +3.73% |
IARCX vs. ACWI - Expense Ratio Comparison
IARCX has a 1.98% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
IARCX vs. ACWI - Dividend Comparison
IARCX's dividend yield for the trailing twelve months is around 4.65%, more than ACWI's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.38% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
IARCX Invesco Real Estate Fund | 4.65% | 5.26% | 3.66% | 2.50% | 9.87% | 4.94% | 6.58% | 7.98% | 6.65% | 5.22% | 14.83% | 16.26% |
Frequently Asked Questions
IARCX and ACWI have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IARCX has higher volatility (4.03%) compared to ACWI (3.93%). In terms of maximum drawdown, IARCX dropped -82.76% vs ACWI's -56.00%.
ACWI currently has the higher Sharpe Ratio (2.29 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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