IFGL vs. ACWI
IFGL (iShares International Developed Real Estate ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - IFGL is a REIT fund tracking the FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, IFGL returned 1.76%/yr vs 13.09%/yr for ACWI. A 0.76 correlation means they provide meaningful diversification when combined. IFGL charges 0.48%/yr vs 0.32%/yr for ACWI.
Performance
IFGL vs. ACWI - Performance Comparison
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Returns By Period
In the year-to-date period, IFGL achieves a -3.68% return, which is significantly lower than ACWI's 9.86% return. Over the past 10 years, IFGL has underperformed ACWI with an annualized return of 1.76%, while ACWI has yielded a comparatively higher 13.09% annualized return.
IFGL
- 1D
- -1.11%
- 1M
- -3.43%
- YTD
- -3.68%
- 6M
- -3.43%
- 1Y
- 0.89%
- 3Y*
- 7.92%
- 5Y*
- -2.89%
- 10Y*
- 1.76%
ACWI
- 1D
- -2.00%
- 1M
- -0.35%
- YTD
- 9.86%
- 6M
- 9.11%
- 1Y
- 25.60%
- 3Y*
- 20.00%
- 5Y*
- 10.74%
- 10Y*
- 13.09%
IFGL vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IFGL iShares International Developed Real Estate ETF | -3.68% | 24.31% | -7.25% | 5.40% | -24.21% | 8.29% | -7.62% | 20.65% | -6.39% | 20.00% |
ACWI iShares MSCI ACWI ETF | 9.86% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 26.59% | -9.19% | 24.33% |
Correlation
The correlation between IFGL and ACWI is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2008 | 0.76 |
The correlation between IFGL and ACWI shifts across timeframes, from 0.59 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IFGL vs. ACWI — Risk / Return Rank
IFGL
ACWI
IFGL vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares International Developed Real Estate ETF (IFGL) 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.
| IFGL | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.34 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 2.64 | -2.58 |
| Martin ratioReturn relative to average drawdown | 0.17 | 11.51 | -11.34 |
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Drawdowns
IFGL vs. ACWI - Drawdown Comparison
The maximum IFGL drawdown since its inception was -68.93%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for IFGL and ACWI.
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Drawdown Indicators
| IFGL | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.93% | -56.00% | -12.93% |
Max Drawdown (1Y)Largest decline over 1 year | -14.38% | -9.73% | -4.65% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -16.55% | -2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -38.00% | -26.42% | -11.58% |
Max Drawdown (10Y)Largest decline over 10 years | -40.38% | -33.53% | -6.85% |
Current DrawdownCurrent decline from peak | -16.24% | -2.83% | -13.41% |
Average DrawdownAverage peak-to-trough decline | -17.31% | -8.59% | -8.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 2.23% | +3.10% |
Volatility
IFGL vs. ACWI - Volatility Comparison
The current volatility for iShares International Developed Real Estate ETF (IFGL) is 4.27%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 5.57%. This indicates that IFGL 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
| IFGL | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 5.57% | -1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 11.88% | 11.38% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.96% | 13.64% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.38% | 16.20% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.45% | 17.08% | -0.63% |
IFGL vs. ACWI - Expense Ratio Comparison
IFGL has a 0.48% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
IFGL vs. ACWI - Dividend Comparison
IFGL's dividend yield for the trailing twelve months is around 4.27%, more than ACWI's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.45% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
IFGL iShares International Developed Real Estate ETF | 4.27% | 3.71% | 4.83% | 1.82% | 2.79% | 3.25% | 2.17% | 7.60% | 4.10% | 4.90% | 7.68% | 3.70% |
Frequently Asked Questions
IFGL and ACWI have a correlation of 0.59, 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 IFGL (4.27%). In terms of maximum drawdown, IFGL dropped -68.93% vs ACWI's -56.00%.
On 10-year performance, ACWI leads with 13.09% vs 1.76% for IFGL. On fees, ACWI is cheaper at 0.32% per year. On volatility, IFGL has been the lower-risk option at 4.27%. 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 13.09% return vs 1.76%. 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 0.48% for IFGL.
IFGL has the higher dividend yield at 4.27%, compared with 1.45% for ACWI.
IFGL is categorized as REIT, while ACWI is Global Equities. IFGL tracks FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.48% for IFGL and 0.32% for ACWI.
ACWI currently has the higher Sharpe Ratio (1.89 vs 0.06), 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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