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IBZL.L vs. SWDA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBZL.L vs. SWDA.L

Last updated Jun 5, 2026

IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IBZL.L is a Latin America Equities fund tracking the MSCI Brazil NR USD, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, IBZL.L returned 9.70%/yr vs 13.91%/yr for SWDA.L. At a 0.45 correlation, their price movements are largely independent. IBZL.L charges 0.74%/yr vs 0.20%/yr for SWDA.L.

Performance

IBZL.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with IBZL.L having a 10.16% return and SWDA.L slightly lower at 10.08%. Over the past 10 years, IBZL.L has underperformed SWDA.L with an annualized return of 9.70%, while SWDA.L has yielded a comparatively higher 13.91% annualized return.

IBZL.L

1D
0.18%
1M
-12.01%
YTD
10.16%
6M
3.73%
1Y
36.12%
3Y*
9.39%
5Y*
8.43%
10Y*
9.70%

SWDA.L

1D
0.15%
1M
5.12%
YTD
10.08%
6M
10.35%
1Y
27.25%
3Y*
17.68%
5Y*
13.06%
10Y*
13.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IBZL.L vs. SWDA.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IBZL.L
iShares MSCI Brazil UCITS ETF (Dist)		10.16%38.28%-26.04%25.61%32.04%-19.06%-16.73%15.40%3.61%14.78%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		10.08%12.64%21.11%17.59%-8.33%23.64%12.25%23.03%-3.78%11.78%

Correlation

The correlation between IBZL.L and SWDA.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.38

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

0.37

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

0.38

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

0.44

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2009

0.45

IBZL.L vs. SWDA.L - Sectors Allocation Comparison

Sectors
IBZL.L
SWDA.L

Financial Services

33.2%
15.4%

Energy

18.9%
4.2%

Basic Materials

13.7%
3.2%

Utilities

12.7%
2.5%

Industrials

10.8%
10.9%

Consumer Defensive

4.2%
5.2%

Healthcare

2.2%
8.7%

Communication Services

2.0%
9.2%

Consumer Cyclical

1.3%
9.0%

Technology

1.1%
30.0%

Real Estate

-

1.8%

Financial Services

IBZL.L
33.2%
SWDA.L
15.4%

Energy

IBZL.L
18.9%
SWDA.L
4.2%

Basic Materials

IBZL.L
13.7%
SWDA.L
3.2%

Utilities

IBZL.L
12.7%
SWDA.L
2.5%

Industrials

IBZL.L
10.8%
SWDA.L
10.9%

Consumer Defensive

IBZL.L
4.2%
SWDA.L
5.2%

Healthcare

IBZL.L
2.2%
SWDA.L
8.7%

Communication Services

IBZL.L
2.0%
SWDA.L
9.2%

Consumer Cyclical

IBZL.L
1.3%
SWDA.L
9.0%

Technology

IBZL.L
1.1%
SWDA.L
30.0%

Real Estate

IBZL.L

-

SWDA.L
1.8%

Compare stocks, funds, or ETFs

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iShares MSCI Brazil UCITS ETF (Dist)

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with IBZL.L:
IBZL.L vs. EWZIBZL.L vs. EWOIBZL.L vs. SP2D.DEIBZL.L vs. VOOIBZL.L vs. pbrIBZL.L vs. ACWIIBZL.L vs. IJPH.L
Often compared with SWDA.L:
SWDA.L vs. IWDA.LSWDA.L vs. VWRP.LSWDA.L vs. VWCE.DESWDA.L vs. SPYSWDA.L vs. IUSQ.DESWDA.L vs. EUN.LSWDA.L vs. VOO

Return for Risk

IBZL.L vs. SWDA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IBZL.L
IBZL.L Risk / Return Rank: 4747
Overall Rank
IBZL.L Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IBZL.L Sortino Ratio Rank: 4747
Sortino Ratio Rank
IBZL.L Omega Ratio Rank: 4747
Omega Ratio Rank
IBZL.L Calmar Ratio Rank: 4545
Calmar Ratio Rank
IBZL.L Martin Ratio Rank: 4545
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8383
Overall Rank
SWDA.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8484
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8383
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.

IBZL.L vs. SWDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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.

IBZL.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
1.69
2.66

-0.97

Sortino ratioReturn per unit of downside risk
2.30
3.69

-1.39

Omega ratioGain probability vs. loss probability

1.29

1.51

-0.21

Calmar ratioReturn relative to maximum drawdown

2.17

4.14

-1.97

Martin ratioReturn relative to average drawdown

7.39

16.55

-9.16

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

IBZL.L vs. SWDA.L - Sharpe Ratio Comparison

The current IBZL.L Sharpe Ratio is 1.69, which is lower than the SWDA.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IBZL.L and SWDA.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

IBZL.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.69

2.66

-0.97

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

0.98

-0.66

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

0.96

-0.65

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.88

-0.68

Drawdowns

IBZL.L vs. SWDA.L - Drawdown Comparison

The maximum IBZL.L drawdown since its inception was -69.44%, which is greater than SWDA.L's maximum drawdown of -25.58%. Use the drawdown chart below to compare losses from any high point for IBZL.L and SWDA.L.

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Drawdown Indicators

IBZL.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-69.44%

-25.58%

-43.86%

Max Drawdown (1Y)

Largest decline over 1 year

-16.58%

-6.55%

-10.03%

Max Drawdown (3Y)

Largest decline over 3 years

-27.68%

-18.50%

-9.18%

Max Drawdown (5Y)

Largest decline over 5 years

-28.21%

-18.50%

-9.71%

Max Drawdown (10Y)

Largest decline over 10 years

-51.77%

-25.58%

-26.19%

Current Drawdown

Current decline from peak

-16.43%

-0.10%

-16.33%

Average Drawdown

Average peak-to-trough decline

-21.85%

-3.49%

-18.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.87%

1.64%

+3.23%

Volatility

IBZL.L vs. SWDA.L - Volatility Comparison

iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) has a higher volatility of 5.42% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.52%. This indicates that IBZL.L's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IBZL.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.42%

2.52%

+2.90%

Volatility (6M)

Calculated over the trailing 6-month period

17.53%

7.29%

+10.24%

Volatility (1Y)

Calculated over the trailing 1-year period

21.29%

10.19%

+11.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.40%

13.30%

+13.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.47%

14.50%

+16.97%

IBZL.L vs. SWDA.L - Expense Ratio Comparison

IBZL.L has a 0.74% expense ratio, which is higher than SWDA.L's 0.20% expense ratio.

Dividends

IBZL.L vs. SWDA.L - Dividend Comparison

IBZL.L's dividend yield for the trailing twelve months is around 5.82%, while SWDA.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IBZL.L
iShares MSCI Brazil UCITS ETF (Dist)		5.82%5.74%8.31%6.83%16.49%8.64%2.44%3.28%3.31%1.86%2.24%5.42%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IBZL.L and SWDA.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SWDA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SWDA.L is cheaper with a 0.20% expense ratio, compared with 0.74% for IBZL.L.

IBZL.L is categorized as Latin America Equities, while SWDA.L is Global Equities. IBZL.L tracks MSCI Brazil NR USD, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.74% for IBZL.L and 0.20% for SWDA.L.

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