ISDE.L vs. SPWO

Last updated Jun 5, 2026

ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) and SPWO (SP Funds S&P World ETF) are both exchange-traded funds - ISDE.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Islamic Index, while SPWO is a Foreign Large Cap Equities fund tracking the S&P DM Ex-U.S. & EM 50/50 Shariah Index - Benchmark TR Net. Both are passively managed. Over the past year, ISDE.L returned 107.18% vs 47.54% for SPWO. A 0.58 correlation means they provide meaningful diversification when combined. ISDE.L charges 0.85%/yr vs 0.55%/yr for SPWO.

Performance

ISDE.L vs. SPWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) and SP Funds S&P World ETF (SPWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISDE.L achieves a 60.11% return, which is significantly higher than SPWO's 26.98% return.

ISDE.L

• 1D: -2.79%
• 1M: 13.41%
• YTD: 60.11%
• 6M: 64.90%
• 1Y: 107.18%
• 3Y*: 32.29%
• 5Y*: 12.82%
• 10Y*: 13.09%

SPWO

• 1D: 0.09%
• 1M: 8.23%
• YTD: 26.98%
• 6M: 27.41%
• 1Y: 47.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISDE.L vs. SPWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist)	60.11%	40.46%	-3.55%	4.33%
SPWO SP Funds S&P World ETF	26.98%	26.32%	9.25%	2.96%

Correlation

The correlation between ISDE.L and SPWO is 0.65, 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	0.65
Correlation (All Time) Calculated using the full available price history since Dec 21, 2023	0.58

The correlation between ISDE.L and SPWO has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.

ISDE.L vs. SPWO - Sectors Allocation Comparison

Sectors	ISDE.L	SPWO
Technology	48.0%	48.9%
Basic Materials	12.2%	6.5%
Energy	10.1%	2.0%
Industrials	8.6%	11.7%
Consumer Cyclical	5.3%	10.4%
Healthcare	4.8%	10.5%
Financial Services	3.7%	0.0%
Consumer Defensive	3.3%	4.0%
Utilities	2.3%	0.1%
Real Estate	0.9%	0.6%
Communication Services	0.9%	0.7%

Return for Risk

ISDE.L vs. SPWO — Risk / Return Rank

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

ISDE.L

ISDE.L Risk / Return Rank: 95
ISDE.L Sharpe Ratio Rank: 96
ISDE.L Sortino Ratio Rank: 94
ISDE.L Omega Ratio Rank: 95
ISDE.L Calmar Ratio Rank: 94
ISDE.L Martin Ratio Rank: 95

SPWO

SPWO Risk / Return Rank: 73
SPWO Sharpe Ratio Rank: 76
SPWO Sortino Ratio Rank: 72
SPWO Omega Ratio Rank: 73
SPWO Calmar Ratio Rank: 71
SPWO Martin Ratio Rank: 72

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.

ISDE.L vs. SPWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) and SP Funds S&P World ETF (SPWO). 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.

	ISDE.L	SPWO	Difference
Sharpe ratio: Return per unit of total volatility	4.28	2.44	+1.84
Sortino ratio: Return per unit of downside risk	4.93	3.23	+1.70
Omega ratio: Gain probability vs. loss probability	1.73	1.43	+0.31
Calmar ratio: Return relative to maximum drawdown	7.48	3.48	+4.00
Martin ratio: Return relative to average drawdown	28.54	13.22	+15.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISDE.L vs. SPWO - Sharpe Ratio Comparison

The current ISDE.L Sharpe Ratio is 4.28, which is higher than the SPWO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of ISDE.L and SPWO, 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

	ISDE.L	SPWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.28	2.44	+1.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.44	-1.21

Drawdowns

ISDE.L vs. SPWO - Drawdown Comparison

The maximum ISDE.L drawdown since its inception was -59.96%, which is greater than SPWO's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for ISDE.L and SPWO.

Drawdown Indicators

	ISDE.L	SPWO	Difference
Max Drawdown Largest peak-to-trough decline	-59.96%	-18.03%	-41.93%
Max Drawdown (1Y) Largest decline over 1 year	-14.25%	-13.75%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-21.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.67%	—	—
Current Drawdown Current decline from peak	-3.68%	-1.12%	-2.56%
Average Drawdown Average peak-to-trough decline	-21.89%	-2.79%	-19.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	3.61%	+0.13%

Volatility

ISDE.L vs. SPWO - Volatility Comparison

iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a higher volatility of 12.14% compared to SP Funds S&P World ETF (SPWO) at 7.55%. This indicates that ISDE.L's price experiences larger fluctuations and is considered to be riskier than SPWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISDE.L	SPWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.14%	7.55%	+4.59%
Volatility (6M) Calculated over the trailing 6-month period	22.26%	16.56%	+5.70%
Volatility (1Y) Calculated over the trailing 1-year period	24.94%	19.64%	+5.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.26%	19.02%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.87%	19.02%	+0.85%

ISDE.L vs. SPWO - Expense Ratio Comparison

ISDE.L has a 0.85% expense ratio, which is higher than SPWO's 0.55% expense ratio.

Dividends

ISDE.L vs. SPWO - Dividend Comparison

ISDE.L's dividend yield for the trailing twelve months is around 1.08%, more than SPWO's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist)	1.08%	1.86%	2.51%	2.77%	2.10%	1.79%	0.98%	1.55%	1.64%	1.02%	1.07%	2.32%
SPWO SP Funds S&P World ETF	1.02%	1.29%	1.24%	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 ISDE.L and SPWO in my portfolio?

ISDE.L and SPWO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISDE.L or SPWO?

On fees, SPWO 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, ISDE.L or SPWO?

SPWO is cheaper with a 0.55% expense ratio, compared with 0.85% for ISDE.L.

What is the main difference between ISDE.L and SPWO?

ISDE.L is categorized as Emerging Markets Equities, while SPWO is Foreign Large Cap Equities. ISDE.L tracks MSCI Emerging Markets Islamic Index, while SPWO tracks S&P DM Ex-U.S. & EM 50/50 Shariah Index - Benchmark TR Net. They also come from different issuers: iShares and SP Funds. Their fees differ too: 0.85% for ISDE.L and 0.55% for SPWO.