IEFS.L vs. SWDA.L
IEFS.L (iShares Edge MSCI Europe Size Factor UCITS ETF) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IEFS.L is a Europe Equities fund tracking the MSCI Europe SMID NR EUR, while SWDA.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, IEFS.L returned 8.37%/yr vs 14.05%/yr for SWDA.L. A 0.77 correlation means they provide meaningful diversification when combined. IEFS.L charges 0.25%/yr vs 0.20%/yr for SWDA.L.
Performance
IEFS.L vs. SWDA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEFS.L achieves a 5.78% return, which is significantly lower than SWDA.L's 9.92% return. Over the past 10 years, IEFS.L has underperformed SWDA.L with an annualized return of 8.37%, while SWDA.L has yielded a comparatively higher 14.05% annualized return.
IEFS.L
- 1D
- -0.28%
- 1M
- 1.57%
- YTD
- 5.78%
- 6M
- 8.60%
- 1Y
- 16.22%
- 3Y*
- 12.43%
- 5Y*
- 5.82%
- 10Y*
- 8.37%
SWDA.L
- 1D
- -0.25%
- 1M
- 5.16%
- YTD
- 9.92%
- 6M
- 10.29%
- 1Y
- 27.16%
- 3Y*
- 17.83%
- 5Y*
- 13.02%
- 10Y*
- 14.05%
IEFS.L vs. SWDA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFS.L iShares Edge MSCI Europe Size Factor UCITS ETF | 5.78% | 24.40% | 0.75% | 11.87% | -13.35% | 12.21% | 7.23% | 20.36% | -12.26% | 18.08% |
SWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 9.92% | 12.64% | 21.11% | 17.59% | -8.33% | 23.64% | 12.25% | 23.03% | -3.78% | 11.78% |
Correlation
The correlation between IEFS.L and SWDA.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2015 | 0.77 |
The correlation between IEFS.L and SWDA.L shifts across timeframes, from 0.63 (3 years) to 0.77 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEFS.L vs. SWDA.L — Risk / Return Rank
IEFS.L
SWDA.L
IEFS.L vs. SWDA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.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.
| IEFS.L | SWDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.51 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 4.13 | -2.50 |
| Martin ratioReturn relative to average drawdown | 5.83 | 16.50 | -10.68 |
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
| IEFS.L | SWDA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 2.66 | -1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.98 | -0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.97 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.88 | -0.36 |
Drawdowns
IEFS.L vs. SWDA.L - Drawdown Comparison
The maximum IEFS.L drawdown since its inception was -31.02%, 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 IEFS.L and SWDA.L.
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Drawdown Indicators
| IEFS.L | SWDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.02% | -25.58% | -5.44% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -6.55% | -3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -11.84% | -18.50% | +6.66% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -18.50% | -7.90% |
Max Drawdown (10Y)Largest decline over 10 years | -31.02% | -25.58% | -5.44% |
Current DrawdownCurrent decline from peak | -2.40% | -0.25% | -2.15% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -3.49% | -2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 1.64% | +1.14% |
Volatility
IEFS.L vs. SWDA.L - Volatility Comparison
iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) has a higher volatility of 3.78% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.52%. This indicates that IEFS.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
| IEFS.L | SWDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 2.52% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 7.30% | +2.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.72% | 10.23% | +1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 13.30% | +1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 14.50% | +1.09% |
IEFS.L vs. SWDA.L - Expense Ratio Comparison
IEFS.L has a 0.25% expense ratio, which is higher than SWDA.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEFS.L vs. SWDA.L - Dividend Comparison
Neither IEFS.L nor SWDA.L has paid dividends to shareholders.
Frequently Asked Questions
IEFS.L and SWDA.L have a correlation of 0.67, 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 0.25% for IEFS.L.
IEFS.L is categorized as Europe Equities, while SWDA.L is Global Equities. IEFS.L tracks MSCI Europe SMID NR EUR, while SWDA.L tracks MSCI ACWI NR USD. Their fees differ too: 0.25% for IEFS.L and 0.20% for SWDA.L.
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