IGLA.L vs. SWDA.L

Last updated Jun 5, 2026

IGLA.L (iShares Global Govt Bond UCITS Acc) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IGLA.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, IGLA.L returned -3.36%/yr vs 11.87%/yr for SWDA.L. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.

Performance

IGLA.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Govt Bond UCITS Acc (IGLA.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, IGLA.L achieves a -1.33% return, which is significantly lower than SWDA.L's 9.81% return.

IGLA.L

• 1D: 0.19%
• 1M: -0.05%
• YTD: -1.33%
• 6M: -1.11%
• 1Y: 0.06%
• 3Y*: 1.46%
• 5Y*: -3.36%
• 10Y*: —

SWDA.L

• 1D: 0.20%
• 1M: 4.22%
• YTD: 9.81%
• 6M: 11.17%
• 1Y: 26.04%
• 3Y*: 20.71%
• 5Y*: 11.87%
• 10Y*: 13.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGLA.L iShares Global Govt Bond UCITS Acc	-1.33%	6.09%	-2.98%	3.99%	-17.80%	-6.85%	9.45%	5.84%	-0.51%	1.32%
SWDA.L iShares Core MSCI World UCITS ETF USD (Acc)	9.81%	21.14%	19.09%	23.79%	-18.13%	22.52%	15.68%	27.97%	-9.23%	4.05%

Correlation

The correlation between IGLA.L and SWDA.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 24, 2017	0.13

Over the past year, IGLA.L and SWDA.L have become more correlated (0.34) than their long-term average of 0.13, meaning their price movements have been converging.

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IGLA.L

IGLA.L Risk / Return Rank: 9
IGLA.L Sharpe Ratio Rank: 9
IGLA.L Sortino Ratio Rank: 8
IGLA.L Omega Ratio Rank: 8
IGLA.L Calmar Ratio Rank: 9
IGLA.L Martin Ratio Rank: 9

SWDA.L

SWDA.L Risk / Return Rank: 83
SWDA.L Sharpe Ratio Rank: 83
SWDA.L Sortino Ratio Rank: 83
SWDA.L Omega Ratio Rank: 84
SWDA.L Calmar Ratio Rank: 81
SWDA.L Martin Ratio Rank: 83

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Global Govt Bond UCITS Acc (IGLA.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.

	IGLA.L	SWDA.L	Difference
Sharpe ratio: Return per unit of total volatility	0.01	2.27	-2.26
Sortino ratio: Return per unit of downside risk	0.06	3.37	-3.31
Omega ratio: Gain probability vs. loss probability	1.01	1.41	-0.40
Calmar ratio: Return relative to maximum drawdown	0.01	3.02	-3.00
Martin ratio: Return relative to average drawdown	0.04	13.29	-13.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current IGLA.L Sharpe Ratio is 0.01, which is lower than the SWDA.L Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of IGLA.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.

Sharpe Ratios by Period

	IGLA.L	SWDA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.01	2.27	-2.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	0.78	-1.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.73	-0.82

Drawdowns

IGLA.L vs. SWDA.L - Drawdown Comparison

The maximum IGLA.L drawdown since its inception was -28.01%, smaller than the maximum SWDA.L drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for IGLA.L and SWDA.L.

Drawdown Indicators

	IGLA.L	SWDA.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.01%	-33.62%	+5.61%
Max Drawdown (1Y) Largest decline over 1 year	-4.27%	-8.59%	+4.32%
Max Drawdown (3Y) Largest decline over 3 years	-7.95%	-17.07%	+9.12%
Max Drawdown (5Y) Largest decline over 5 years	-25.86%	-26.50%	+0.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.62%	—
Current Drawdown Current decline from peak	-19.18%	-0.42%	-18.76%
Average Drawdown Average peak-to-trough decline	-11.90%	-4.58%	-7.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.95%	-0.26%

Volatility

IGLA.L vs. SWDA.L - Volatility Comparison

The current volatility for iShares Global Govt Bond UCITS Acc (IGLA.L) is 2.06%, while iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) has a volatility of 2.81%. This indicates that IGLA.L experiences smaller price fluctuations and is considered to be less risky than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGLA.L	SWDA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	2.81%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	4.19%	8.58%	-4.39%
Volatility (1Y) Calculated over the trailing 1-year period	5.54%	11.41%	-5.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.22%	15.30%	-8.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.74%	15.73%	-8.99%

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

Both IGLA.L and SWDA.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IGLA.L vs. SWDA.L - Dividend Comparison

Neither IGLA.L nor SWDA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IGLA.L and SWDA.L in my portfolio?

IGLA.L and SWDA.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IGLA.L or SWDA.L?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IGLA.L or SWDA.L?

IGLA.L and SWDA.L have the same expense ratio: 0.20% per year.

What is the main difference between IGLA.L and SWDA.L?

IGLA.L is categorized as Global Bonds, while SWDA.L is Global Equities. IGLA.L tracks Bloomberg Global Aggregate TR USD, while SWDA.L tracks MSCI World Index.