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IEDL.L vs. CWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEDL.L vs. CWI

Last updated Jun 4, 2026

IEDL.L (iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)) and CWI (SPDR MSCI ACWI ex-US ETF) are both exchange-traded funds - IEDL.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while CWI is a Foreign Large Cap Equities fund tracking the MSCI All Country World ex-U.S. Index. Both are passively managed. Over the past 5 years, IEDL.L returned 14.48%/yr vs 9.80%/yr for CWI. A 0.62 correlation means they provide meaningful diversification when combined. IEDL.L charges 0.25%/yr vs 0.30%/yr for CWI.

Performance

IEDL.L vs. CWI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.L) and SPDR MSCI ACWI ex-US ETF (CWI). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IEDL.L is traded in EUR, while CWI is traded in USD. To make them comparable, the CWI values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEDL.L achieves a 14.13% return, which is significantly lower than CWI's 15.27% return.

IEDL.L

1D
-0.48%
1M
4.00%
YTD
14.13%
6M
18.09%
1Y
33.31%
3Y*
21.46%
5Y*
14.48%
10Y*
—

CWI

1D
-1.01%
1M
6.00%
YTD
15.27%
6M
16.97%
1Y
29.48%
3Y*
16.58%
5Y*
9.80%
10Y*
9.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEDL.L vs. CWI - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IEDL.L
iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)		14.13%35.00%10.46%13.50%-3.75%26.71%-8.76%21.78%-12.14%
CWI
SPDR MSCI ACWI ex-US ETF		15.27%17.00%13.29%12.27%-10.14%16.95%0.78%24.68%-9.21%

Correlation

The correlation between IEDL.L and CWI is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.63

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

0.59

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

0.60

Correlation (All Time)
Calculated using the full available price history since Feb 28, 2018

0.62

The correlation between IEDL.L and CWI has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

IEDL.L vs. CWI - Sectors Allocation Comparison

Sectors
IEDL.L
CWI

Financial Services

22.6%
17.4%

Industrials

17.0%
7.8%

Healthcare

12.3%
5.3%

Technology

12.2%
14.9%

Consumer Defensive

8.6%
2.8%

Basic Materials

6.2%
4.4%

Consumer Cyclical

6.2%
5.8%

Energy

5.1%
5.0%

Utilities

4.5%
1.2%

Communication Services

3.7%
3.2%

Real Estate

0.6%
0.9%

Financial Services

IEDL.L
22.6%
CWI
17.4%

Industrials

IEDL.L
17.0%
CWI
7.8%

Healthcare

IEDL.L
12.3%
CWI
5.3%

Technology

IEDL.L
12.2%
CWI
14.9%

Consumer Defensive

IEDL.L
8.6%
CWI
2.8%

Basic Materials

IEDL.L
6.2%
CWI
4.4%

Consumer Cyclical

IEDL.L
6.2%
CWI
5.8%

Energy

IEDL.L
5.1%
CWI
5.0%

Utilities

IEDL.L
4.5%
CWI
1.2%

Communication Services

IEDL.L
3.7%
CWI
3.2%

Real Estate

IEDL.L
0.6%
CWI
0.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)

SPDR MSCI ACWI ex-US ETF

Often compared with IEDL.L:
IEDL.L vs. S7XP.LIEDL.L vs. XHYG.DEIEDL.L vs. MVEW.DEIEDL.L vs. T3KE.DEIEDL.L vs. EUMD.LIEDL.L vs. CNX1.LIEDL.L vs. VEUR.L
Often compared with CWI:
CWI vs. SPYCWI vs. IXUSCWI vs. VXUSCWI vs. FSPSXCWI vs. SPGMCWI vs. SCHFCWI vs. VTI

Return for Risk

IEDL.L vs. CWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEDL.L
IEDL.L Risk / Return Rank: 7272
Overall Rank
IEDL.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IEDL.L Sortino Ratio Rank: 7373
Sortino Ratio Rank
IEDL.L Omega Ratio Rank: 7575
Omega Ratio Rank
IEDL.L Calmar Ratio Rank: 6969
Calmar Ratio Rank
IEDL.L Martin Ratio Rank: 6969
Martin Ratio Rank
CWI
CWI Risk / Return Rank: 6060
Overall Rank
CWI Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
CWI Sortino Ratio Rank: 6161
Sortino Ratio Rank
CWI Omega Ratio Rank: 6262
Omega Ratio Rank
CWI Calmar Ratio Rank: 5656
Calmar Ratio Rank
CWI Martin Ratio Rank: 6060
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.

IEDL.L vs. CWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.L) and SPDR MSCI ACWI ex-US ETF (CWI). 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.

IEDL.LCWIDifference
Sharpe ratioReturn per unit of total volatility
2.44
2.16

+0.28

Sortino ratioReturn per unit of downside risk
3.32
2.95

+0.37

Omega ratioGain probability vs. loss probability

1.45

1.40

+0.04

Calmar ratioReturn relative to maximum drawdown

3.42

3.14

+0.28

Martin ratioReturn relative to average drawdown

12.72

12.91

-0.18

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

IEDL.L vs. CWI - Sharpe Ratio Comparison

The current IEDL.L Sharpe Ratio is 2.44, which is comparable to the CWI Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of IEDL.L and CWI, 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

IEDL.LCWIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.44

2.16

+0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

0.70

+0.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.61

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.31

+0.28

Drawdowns

IEDL.L vs. CWI - Drawdown Comparison

The maximum IEDL.L drawdown since its inception was -39.74%, smaller than the maximum CWI drawdown of -54.92%. Use the drawdown chart below to compare losses from any high point for IEDL.L and CWI.

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Drawdown Indicators

IEDL.LCWIDifference

Max Drawdown

Largest peak-to-trough decline

-39.74%

-54.92%

+15.18%

Max Drawdown (1Y)

Largest decline over 1 year

-9.70%

-9.42%

-0.28%

Max Drawdown (3Y)

Largest decline over 3 years

-17.52%

-16.21%

-1.31%

Max Drawdown (5Y)

Largest decline over 5 years

-19.57%

-16.39%

-3.18%

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.96%

—

Current Drawdown

Current decline from peak

-0.66%

-1.01%

+0.35%

Average Drawdown

Average peak-to-trough decline

-6.19%

-10.15%

+3.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.61%

2.29%

+0.32%

Volatility

IEDL.L vs. CWI - Volatility Comparison

iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist) (IEDL.L) and SPDR MSCI ACWI ex-US ETF (CWI) have volatilities of 4.83% and 4.96%, 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

IEDL.LCWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.83%

4.96%

-0.13%

Volatility (6M)

Calculated over the trailing 6-month period

10.95%

11.46%

-0.51%

Volatility (1Y)

Calculated over the trailing 1-year period

13.60%

13.73%

-0.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.42%

13.98%

+1.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.97%

15.99%

+1.98%

IEDL.L vs. CWI - Expense Ratio Comparison

IEDL.L has a 0.25% expense ratio, which is lower than CWI's 0.30% expense ratio.

Dividends

IEDL.L vs. CWI - Dividend Comparison

IEDL.L's dividend yield for the trailing twelve months is around 3.01%, more than CWI's 2.70% yield.

PositionTTM20252024202320222021202020192018201720162015
CWI
SPDR MSCI ACWI ex-US ETF		2.70%2.97%2.89%2.80%3.17%2.65%2.07%3.05%2.81%2.29%2.45%2.62%
IEDL.L
iShares Edge MSCI Europe Value Factor UCITS ETF EUR (Dist)		3.01%3.44%4.22%4.76%4.23%3.56%2.32%3.86%3.19%0.00%0.00%0.00%

Frequently Asked Questions

IEDL.L and CWI have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEDL.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEDL.L is cheaper with a 0.25% expense ratio, compared with 0.30% for CWI.

IEDL.L is categorized as Europe Equities, while CWI is Foreign Large Cap Equities. IEDL.L tracks MSCI Europe Value NR EUR, while CWI tracks MSCI All Country World ex-U.S. Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for IEDL.L and 0.30% for CWI.

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