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

IEQD.L vs. SWDA.L

Last updated Jun 5, 2026

IEQD.L (iShares Edge MSCI Europe Quality Factor UCITS Dist) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IEQD.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, IEQD.L returned 5.90%/yr vs 12.89%/yr for SWDA.L. A 0.76 correlation means they provide meaningful diversification when combined. IEQD.L charges 0.25%/yr vs 0.20%/yr for SWDA.L.

Performance

IEQD.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI Europe Quality Factor UCITS Dist (IEQD.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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Different Trading Currencies

IEQD.L is traded in EUR, while SWDA.L is traded in GBp. To make them comparable, the SWDA.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEQD.L achieves a 4.24% return, which is significantly lower than SWDA.L's 10.97% return.

IEQD.L

1D
0.53%
1M
1.23%
YTD
4.24%
6M
5.85%
1Y
6.61%
3Y*
7.76%
5Y*
5.90%
10Y*
—

SWDA.L

1D
0.00%
1M
4.83%
YTD
10.97%
6M
11.38%
1Y
23.82%
3Y*
17.47%
5Y*
12.89%
10Y*
12.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
IEQD.L
iShares Edge MSCI Europe Quality Factor UCITS Dist		4.24%9.49%4.14%14.42%-11.20%26.21%1.53%30.13%-3.99%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		11.06%6.76%26.95%20.08%-13.06%31.68%6.15%30.86%-5.05%

Correlation

The correlation between IEQD.L and SWDA.L is 0.68, 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

0.68

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

0.67

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

0.73

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

0.76

The correlation between IEQD.L and SWDA.L has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

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

Sectors
IEQD.L
SWDA.L

Financial Services

21.1%
15.4%

Industrials

19.5%
10.9%

Healthcare

14.2%
8.7%

Technology

10.8%
30.0%

Consumer Defensive

8.1%
5.2%

Consumer Cyclical

6.6%
9.0%

Basic Materials

5.6%
3.2%

Energy

5.2%
4.2%

Utilities

5.1%
2.5%

Communication Services

3.0%
9.2%

Real Estate

0.8%
1.8%

Financial Services

IEQD.L
21.1%
SWDA.L
15.4%

Industrials

IEQD.L
19.5%
SWDA.L
10.9%

Healthcare

IEQD.L
14.2%
SWDA.L
8.7%

Technology

IEQD.L
10.8%
SWDA.L
30.0%

Consumer Defensive

IEQD.L
8.1%
SWDA.L
5.2%

Consumer Cyclical

IEQD.L
6.6%
SWDA.L
9.0%

Basic Materials

IEQD.L
5.6%
SWDA.L
3.2%

Energy

IEQD.L
5.2%
SWDA.L
4.2%

Utilities

IEQD.L
5.1%
SWDA.L
2.5%

Communication Services

IEQD.L
3.0%
SWDA.L
9.2%

Real Estate

IEQD.L
0.8%
SWDA.L
1.8%

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iShares Edge MSCI Europe Quality Factor UCITS Dist

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with IEQD.L:
IEQD.L vs. FEUI.DEIEQD.L vs. MVOL.LIEQD.L vs. SMEA.LIEQD.L vs. VUSA.ASIEQD.L vs. JRDZ.LIEQD.L vs. CNDX.LIEQD.L vs. CEUR.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

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEQD.L
IEQD.L Risk / Return Rank: 1818
Overall Rank
IEQD.L Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
IEQD.L Sortino Ratio Rank: 1818
Sortino Ratio Rank
IEQD.L Omega Ratio Rank: 1818
Omega Ratio Rank
IEQD.L Calmar Ratio Rank: 1919
Calmar Ratio Rank
IEQD.L Martin Ratio Rank: 1919
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Quality Factor UCITS Dist (IEQD.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.

IEQD.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
0.56
2.18

-1.62

Sortino ratioReturn per unit of downside risk
0.87
3.07

-2.20

Omega ratioGain probability vs. loss probability

1.10

1.41

-0.31

Calmar ratioReturn relative to maximum drawdown

0.77

3.63

-2.86

Martin ratioReturn relative to average drawdown

2.08

14.82

-12.74

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

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

The current IEQD.L Sharpe Ratio is 0.56, which is lower than the SWDA.L Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of IEQD.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

IEQD.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.56

2.18

-1.62

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

0.92

-0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.85

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.85

-0.31

Drawdowns

IEQD.L vs. SWDA.L - Drawdown Comparison

The maximum IEQD.L drawdown since its inception was -33.13%, roughly equal to the maximum SWDA.L drawdown of -33.00%. Use the drawdown chart below to compare losses from any high point for IEQD.L and SWDA.L.

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Drawdown Indicators

IEQD.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.13%

-33.00%

-0.13%

Max Drawdown (1Y)

Largest decline over 1 year

-8.51%

-6.53%

-1.98%

Max Drawdown (3Y)

Largest decline over 3 years

-14.74%

-20.55%

+5.81%

Max Drawdown (5Y)

Largest decline over 5 years

-19.89%

-20.55%

+0.66%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.00%

—

Current Drawdown

Current decline from peak

-1.91%

-0.30%

-1.61%

Average Drawdown

Average peak-to-trough decline

-4.88%

-4.31%

-0.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.17%

1.60%

+1.57%

Volatility

IEQD.L vs. SWDA.L - Volatility Comparison

iShares Edge MSCI Europe Quality Factor UCITS Dist (IEQD.L) has a higher volatility of 3.95% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.22%. This indicates that IEQD.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

IEQD.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.95%

2.22%

+1.73%

Volatility (6M)

Calculated over the trailing 6-month period

9.27%

7.56%

+1.71%

Volatility (1Y)

Calculated over the trailing 1-year period

11.69%

10.88%

+0.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.92%

14.07%

-0.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.34%

15.15%

+0.19%

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

IEQD.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

IEQD.L vs. SWDA.L - Dividend Comparison

IEQD.L's dividend yield for the trailing twelve months is around 2.09%, while SWDA.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
IEQD.L
iShares Edge MSCI Europe Quality Factor UCITS Dist		2.09%2.18%2.37%2.74%2.69%1.96%2.21%2.89%2.93%
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%

Frequently Asked Questions

IEQD.L and SWDA.L have a correlation of 0.68, 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 IEQD.L.

IEQD.L is categorized as Europe Equities, while SWDA.L is Global Equities. IEQD.L tracks MSCI Europe NR EUR, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.25% for IEQD.L and 0.20% for SWDA.L.

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