INFR.L vs. IWDE.L

Last updated Jul 16, 2026

INFR.L (iShares Global Infrastructure UCITS ETF USD (Dist)) and IWDE.L (iShares MSCI World EUR Hedged UCITS ETF (Acc)) are both exchange-traded funds - INFR.L is a Utilities Equities fund tracking the FTSE Global Core Infrastructure Index, while IWDE.L is a Global Equities fund tracking the MSCI World 100% Hedged to EUR Index. Both are passively managed. Over the past 10 years, INFR.L returned 6.94%/yr vs 11.25%/yr for IWDE.L. A 0.56 correlation means they provide meaningful diversification when combined. INFR.L charges 0.65%/yr vs 0.55%/yr for IWDE.L.

Performance

INFR.L vs. IWDE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Global Infrastructure UCITS ETF USD (Dist) (INFR.L) and iShares MSCI World EUR Hedged UCITS ETF (Acc) (IWDE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, INFR.L achieves a 12.43% return, which is significantly higher than IWDE.L's 6.63% return. Over the past 10 years, INFR.L has underperformed IWDE.L with an annualized return of 6.94%, while IWDE.L has yielded a comparatively higher 11.25% annualized return.

INFR.L

• 1D: -1.01%
• 1M: 1.36%
• 6M: 12.20%
• YTD: 12.43%
• 1Y: 17.51%
• 3Y*: 10.71%
• 5Y*: 7.06%
• 10Y*: 6.94%

IWDE.L

• 1D: -0.49%
• 1M: -1.41%
• 6M: 5.07%
• YTD: 6.63%
• 1Y: 18.26%
• 3Y*: 16.68%
• 5Y*: 9.98%
• 10Y*: 11.25%

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

INFR.L vs. IWDE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INFR.L iShares Global Infrastructure UCITS ETF USD (Dist)	12.43%	5.13%	10.76%	-5.53%	5.25%	18.61%	-5.27%	20.12%	3.61%	4.58%
IWDE.L iShares MSCI World EUR Hedged UCITS ETF (Acc)	6.63%	22.62%	14.31%	18.71%	-14.14%	16.10%	17.79%	16.63%	-9.17%	21.84%

Correlation

The correlation between INFR.L and IWDE.L is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010	0.56

The correlation between INFR.L and IWDE.L shifts across timeframes, from -0.05 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

INFR.L vs. IWDE.L - Sectors Allocation Comparison

Sectors	INFR.L	IWDE.L
Utilities	54.9%	2.8%
Industrials	21.5%	10.9%
Energy	16.2%	3.6%
Real Estate	5.3%	1.7%
Communication Services	1.1%	8.0%
Technology	1.1%	30.5%
Financial Services	0.0%	15.7%
Basic Materials	-	3.2%
Consumer Cyclical	-	8.8%
Consumer Defensive	-	4.9%
Healthcare	-	9.1%

Return for Risk

INFR.L vs. IWDE.L — Risk / Return Rank

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

INFR.L

INFR.L Risk / Return Rank: 61
INFR.L Sharpe Ratio Rank: 58
INFR.L Sortino Ratio Rank: 58
INFR.L Omega Ratio Rank: 52
INFR.L Calmar Ratio Rank: 80
INFR.L Martin Ratio Rank: 56

IWDE.L

IWDE.L Risk / Return Rank: 68
IWDE.L Sharpe Ratio Rank: 65
IWDE.L Sortino Ratio Rank: 70
IWDE.L Omega Ratio Rank: 66
IWDE.L Calmar Ratio Rank: 64
IWDE.L Martin Ratio Rank: 74

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.

INFR.L vs. IWDE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure UCITS ETF USD (Dist) (INFR.L) and iShares MSCI World EUR Hedged UCITS ETF (Acc) (IWDE.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.

	INFR.L	IWDE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.50	+0.09
Sortino ratio: Return per unit of downside risk	2.27	2.24	+0.03
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	3.36	2.14	+1.23
Martin ratio: Return relative to average drawdown	7.96	8.47	-0.51

INFR.L vs. IWDE.L - Sharpe Ratio Comparison

The current INFR.L Sharpe Ratio is 1.59, which is comparable to the IWDE.L Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of INFR.L and IWDE.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

INFR.L vs. IWDE.L - Drawdown Comparison

The maximum INFR.L drawdown since its inception was -64.87%, which is greater than IWDE.L's maximum drawdown of -26.24%. Use the drawdown chart below to compare losses from any high point for INFR.L and IWDE.L.

Drawdown Indicators

	INFR.L	IWDE.L	Difference
Max Drawdown Largest peak-to-trough decline	-64.87%	-26.24%	-38.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.19%	-8.28%	+3.09%
Max Drawdown (3Y) Largest decline over 3 years	-11.19%	-15.66%	+4.47%
Max Drawdown (5Y) Largest decline over 5 years	-23.29%	-22.14%	-1.15%
Max Drawdown (10Y) Largest decline over 10 years	-26.75%	-26.24%	-0.51%
Current Drawdown Current decline from peak	-2.01%	-1.72%	-0.29%
Average Drawdown Average peak-to-trough decline	-24.37%	-5.22%	-19.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	2.09%	+0.11%

Volatility

INFR.L vs. IWDE.L - Volatility Comparison

iShares Global Infrastructure UCITS ETF USD (Dist) (INFR.L) has a higher volatility of 3.35% compared to iShares MSCI World EUR Hedged UCITS ETF (Acc) (IWDE.L) at 2.80%. This indicates that INFR.L's price experiences larger fluctuations and is considered to be riskier than IWDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INFR.L	IWDE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	2.80%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	9.35%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	10.96%	11.77%	-0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.33%	14.94%	-2.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.96%	15.58%	-1.62%

INFR.L vs. IWDE.L - Expense Ratio Comparison

INFR.L has a 0.65% expense ratio, which is higher than IWDE.L's 0.55% expense ratio.

Dividends

INFR.L vs. IWDE.L - Dividend Comparison

INFR.L's dividend yield for the trailing twelve months is around 2.04%, while IWDE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INFR.L iShares Global Infrastructure UCITS ETF USD (Dist)	2.04%	2.25%	2.32%	2.43%	2.05%	1.89%	2.21%	2.15%	2.27%	2.72%	2.57%	3.09%
IWDE.L iShares MSCI World EUR Hedged UCITS ETF (Acc)	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 INFR.L and IWDE.L in my portfolio?

INFR.L and IWDE.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INFR.L or IWDE.L?

On fees, IWDE.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INFR.L or IWDE.L?

IWDE.L is cheaper with a 0.55% expense ratio, compared with 0.65% for INFR.L.

What is the main difference between INFR.L and IWDE.L?

INFR.L is categorized as Utilities Equities, while IWDE.L is Global Equities. INFR.L tracks FTSE Global Core Infrastructure Index, while IWDE.L tracks MSCI World 100% Hedged to EUR Index. Their fees differ too: 0.65% for INFR.L and 0.55% for IWDE.L.