ICF vs. ACWI
ICF (iShares Cohen & Steers REIT ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - ICF is a REIT fund tracking the Cohen & Steers Realty Majors Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, ICF returned 5.70%/yr vs 13.07%/yr for ACWI. A 0.59 correlation means they provide meaningful diversification when combined. ICF charges 0.34%/yr vs 0.32%/yr for ACWI.
Performance
ICF vs. ACWI - Performance Comparison
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Returns By Period
In the year-to-date period, ICF achieves a 15.45% return, which is significantly higher than ACWI's 9.71% return. Over the past 10 years, ICF has underperformed ACWI with an annualized return of 5.70%, while ACWI has yielded a comparatively higher 13.07% annualized return.
ICF
- 1D
- -0.41%
- 1M
- 0.52%
- YTD
- 15.45%
- 6M
- 15.24%
- 1Y
- 12.27%
- 3Y*
- 11.94%
- 5Y*
- 3.33%
- 10Y*
- 5.70%
ACWI
- 1D
- -0.14%
- 1M
- -0.49%
- YTD
- 9.71%
- 6M
- 8.77%
- 1Y
- 23.79%
- 3Y*
- 19.95%
- 5Y*
- 10.62%
- 10Y*
- 13.07%
ICF vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICF iShares Cohen & Steers REIT ETF | 15.45% | 1.85% | 5.30% | 10.36% | -26.12% | 44.17% | -5.43% | 25.48% | -2.55% | 4.90% |
ACWI iShares MSCI ACWI ETF | 9.71% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 26.59% | -9.19% | 24.33% |
Correlation
The correlation between ICF and ACWI is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2008 | 0.59 |
Over the past year, the correlation between ICF and ACWI has dropped to 0.26 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
ICF vs. ACWI — Risk / Return Rank
ICF
ACWI
ICF vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Cohen & Steers REIT ETF (ICF) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ICF | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.32 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.46 | -0.95 |
| Martin ratioReturn relative to average drawdown | 4.31 | 10.66 | -6.35 |
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Drawdowns
ICF vs. ACWI - Drawdown Comparison
The maximum ICF drawdown since its inception was -76.74%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for ICF and ACWI.
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Drawdown Indicators
| ICF | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.74% | -56.00% | -20.74% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -9.73% | +1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -17.25% | -16.55% | -0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -34.74% | -26.42% | -8.32% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -33.53% | -6.69% |
Current DrawdownCurrent decline from peak | -1.27% | -2.96% | +1.69% |
Average DrawdownAverage peak-to-trough decline | -14.15% | -8.59% | -5.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.24% | +0.66% |
Volatility
ICF vs. ACWI - Volatility Comparison
The current volatility for iShares Cohen & Steers REIT ETF (ICF) is 5.11%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 5.57%. This indicates that ICF experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICF | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 5.57% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 11.35% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.17% | 13.62% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.97% | 16.19% | +2.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.63% | 17.07% | +3.56% |
ICF vs. ACWI - Expense Ratio Comparison
ICF has a 0.34% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
ICF vs. ACWI - Dividend Comparison
ICF's dividend yield for the trailing twelve months is around 2.43%, more than ACWI's 1.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.46% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
ICF iShares Cohen & Steers REIT ETF | 2.43% | 2.88% | 2.66% | 2.76% | 2.64% | 1.82% | 2.38% | 2.55% | 3.20% | 3.10% | 4.21% | 3.30% |
Frequently Asked Questions
ICF and ACWI have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACWI has higher volatility (5.57%) compared to ICF (5.11%). In terms of maximum drawdown, ICF dropped -76.74% vs ACWI's -56.00%.
On 10-year performance, ACWI leads with 13.07% vs 5.70% for ICF. On fees, ACWI is cheaper at 0.32% per year. On volatility, ICF has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ACWI has performed better with a 13.07% return vs 5.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ACWI is cheaper with a 0.32% expense ratio, compared with 0.34% for ICF.
ICF has the higher dividend yield at 2.43%, compared with 1.46% for ACWI.
ICF is categorized as REIT, while ACWI is Global Equities. ICF tracks Cohen & Steers Realty Majors Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.34% for ICF and 0.32% for ACWI.
ACWI currently has the higher Sharpe Ratio (1.76 vs 0.87), 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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