IMID.L vs. GIN.L

Last updated Jul 7, 2026

IMID.L (SPDR MSCI ACWI IMI UCITS ETF) and GIN.L (SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist) are both exchange-traded funds - IMID.L is a Global Equities fund tracking the MSCI ACWI Investable Market Index, while GIN.L is a Diversified Portfolio fund tracking the Morningstar EAA USD Mod Tgt Alloc NR USD. Both are passively managed. Over the past 10 years, IMID.L returned -18.50%/yr vs 5.45%/yr for GIN.L. At a 0.45 correlation, their price movements are largely independent. IMID.L charges 0.17%/yr vs 0.40%/yr for GIN.L.

Performance

IMID.L vs. GIN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI ACWI IMI UCITS ETF (IMID.L) and SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IMID.L is traded in USD, while GIN.L is traded in GBP. To make them comparable, the GIN.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IMID.L achieves a -95.51% return, which is significantly lower than GIN.L's 6.19% return. Over the past 10 years, IMID.L has underperformed GIN.L with an annualized return of -18.50%, while GIN.L has yielded a comparatively higher 5.45% annualized return.

IMID.L

• 1D: 0.38%
• 1M: 1.62%
• 6M: -95.56%
• YTD: -95.51%
• 1Y: -95.00%
• 3Y*: -58.96%
• 5Y*: -41.77%
• 10Y*: -18.50%

GIN.L

• 1D: 0.52%
• 1M: 1.89%
• 6M: 5.87%
• YTD: 6.19%
• 1Y: 11.18%
• 3Y*: 9.69%
• 5Y*: 3.05%
• 10Y*: 5.45%

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

IMID.L vs. GIN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMID.L SPDR MSCI ACWI IMI UCITS ETF	-95.51%	22.16%	16.31%	21.65%	-17.64%	17.85%	16.14%	25.35%	-9.83%	22.56%
GIN.L SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist	6.19%	14.72%	3.29%	6.84%	-13.63%	6.20%	6.95%	19.22%	-3.53%	13.58%

Correlation

The correlation between IMID.L and GIN.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Apr 14, 2015	0.45

The correlation between IMID.L and GIN.L shifts across timeframes, from 0.30 (3 years) to 0.45 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IMID.L vs. GIN.L — Risk / Return Rank

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

IMID.L

IMID.L Risk / Return Rank: 1
IMID.L Sharpe Ratio Rank: 2
IMID.L Sortino Ratio Rank: 4
IMID.L Omega Ratio Rank: 0
IMID.L Calmar Ratio Rank: 0
IMID.L Martin Ratio Rank: 1

GIN.L

GIN.L Risk / Return Rank: 63
GIN.L Sharpe Ratio Rank: 60
GIN.L Sortino Ratio Rank: 63
GIN.L Omega Ratio Rank: 58
GIN.L Calmar Ratio Rank: 75
GIN.L Martin Ratio Rank: 56

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.

IMID.L vs. GIN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI IMI UCITS ETF (IMID.L) and SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.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.

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.

	IMID.L	GIN.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	1.33	-2.31
Sortino ratio: Return per unit of downside risk	-0.76	1.91	-2.67
Omega ratio: Gain probability vs. loss probability	0.55	1.23	-0.68
Calmar ratio: Return relative to maximum drawdown	-0.99	2.17	-3.16
Martin ratio: Return relative to average drawdown	-1.49	6.35	-7.83

IMID.L vs. GIN.L - Sharpe Ratio Comparison

The current IMID.L Sharpe Ratio is -0.98, which is lower than the GIN.L Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of IMID.L and GIN.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.

Drawdowns

IMID.L vs. GIN.L - Drawdown Comparison

The maximum IMID.L drawdown since its inception was -96.27%, which is greater than GIN.L's maximum drawdown of -39.87%. Use the drawdown chart below to compare losses from any high point for IMID.L and GIN.L.

Drawdown Indicators

	IMID.L	GIN.L	Difference
Max Drawdown Largest peak-to-trough decline	-96.27%	-39.87%	-56.40%
Max Drawdown (1Y) Largest decline over 1 year	-96.27%	-5.13%	-91.14%
Max Drawdown (3Y) Largest decline over 3 years	-96.27%	-9.98%	-86.29%
Max Drawdown (5Y) Largest decline over 5 years	-96.27%	-24.25%	-72.02%
Max Drawdown (10Y) Largest decline over 10 years	-96.27%	-24.25%	-72.02%
Current Drawdown Current decline from peak	-95.62%	-0.97%	-94.65%
Average Drawdown Average peak-to-trough decline	-7.71%	-15.30%	+7.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	63.93%	1.76%	+62.17%

Volatility

IMID.L vs. GIN.L - Volatility Comparison

SPDR MSCI ACWI IMI UCITS ETF (IMID.L) has a higher volatility of 3.92% compared to SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.L) at 2.25%. This indicates that IMID.L's price experiences larger fluctuations and is considered to be riskier than GIN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMID.L	GIN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	2.25%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	321.60%	6.35%	+315.25%
Volatility (1Y) Calculated over the trailing 1-year period	96.96%	8.41%	+88.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.77%	10.77%	+35.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.13%	10.77%	+25.36%

IMID.L vs. GIN.L - Expense Ratio Comparison

IMID.L has a 0.17% expense ratio, which is lower than GIN.L's 0.40% expense ratio.

Dividends

IMID.L vs. GIN.L - Dividend Comparison

IMID.L has not paid dividends to shareholders, while GIN.L's dividend yield for the trailing twelve months is around 2.86%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIN.L SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist	2.86%	2.92%	2.80%	2.80%	2.47%	1.92%	2.23%	2.37%	2.90%	2.98%	2.92%	1.81%
IMID.L SPDR MSCI ACWI IMI UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IMID.L and GIN.L in my portfolio?

IMID.L and GIN.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMID.L or GIN.L?

On fees, IMID.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMID.L or GIN.L?

IMID.L is cheaper with a 0.17% expense ratio, compared with 0.40% for GIN.L.

What is the main difference between IMID.L and GIN.L?

IMID.L is categorized as Global Equities, while GIN.L is Diversified Portfolio. IMID.L tracks MSCI ACWI Investable Market Index, while GIN.L tracks Morningstar EAA USD Mod Tgt Alloc NR USD. Their fees differ too: 0.17% for IMID.L and 0.40% for GIN.L.