ISDW.L vs. MNZL

Last updated Jun 5, 2026

ISDW.L (iShares MSCI World Islamic UCITS) and MNZL (Manzil Russell Halal USA Broad Market ETF) are both exchange-traded funds - ISDW.L is a Global Equities fund tracking the MSCI World Islamic Index, while MNZL is a Large Cap Blend Equities fund tracking the Russell IdealRatings Manzil Halal USA Broad Market Index. Both are passively managed. A 0.64 correlation means they provide meaningful diversification when combined. ISDW.L charges 0.30%/yr vs 0.40%/yr for MNZL.

Performance

ISDW.L vs. MNZL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI World Islamic UCITS (ISDW.L) and Manzil Russell Halal USA Broad Market ETF (MNZL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISDW.L achieves a 19.45% return, which is significantly higher than MNZL's 18.20% return.

ISDW.L

• 1D: -0.28%
• 1M: 8.36%
• YTD: 19.45%
• 6M: 20.58%
• 1Y: 36.72%
• 3Y*: 18.57%
• 5Y*: 12.01%
• 10Y*: 11.23%

MNZL

• 1D: -1.04%
• 1M: 8.16%
• YTD: 18.20%
• 6M: 16.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISDW.L vs. MNZL - Yearly Performance Comparison

	2026 (YTD)	2025
ISDW.L iShares MSCI World Islamic UCITS	19.45%	4.51%
MNZL Manzil Russell Halal USA Broad Market ETF	18.20%	2.90%

Correlation

The correlation between ISDW.L and MNZL is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.64

Return for Risk

ISDW.L vs. MNZL — Risk / Return Rank

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

ISDW.L

ISDW.L Risk / Return Rank: 86
ISDW.L Sharpe Ratio Rank: 86
ISDW.L Sortino Ratio Rank: 88
ISDW.L Omega Ratio Rank: 82
ISDW.L Calmar Ratio Rank: 89
ISDW.L Martin Ratio Rank: 87

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.

ISDW.L vs. MNZL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Islamic UCITS (ISDW.L) and Manzil Russell Halal USA Broad Market ETF (MNZL). 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.

	ISDW.L	MNZL	Difference
Sharpe ratio: Return per unit of total volatility	2.82	—	—
Sortino ratio: Return per unit of downside risk	3.94	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	5.29	—	—
Martin ratio: Return relative to average drawdown	18.43	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ISDW.L	MNZL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	2.84	-2.38

Drawdowns

ISDW.L vs. MNZL - Drawdown Comparison

The maximum ISDW.L drawdown since its inception was -44.87%, which is greater than MNZL's maximum drawdown of -9.66%. Use the drawdown chart below to compare losses from any high point for ISDW.L and MNZL.

Drawdown Indicators

	ISDW.L	MNZL	Difference
Max Drawdown Largest peak-to-trough decline	-44.87%	-9.66%	-35.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.20%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.77%	—	—
Current Drawdown Current decline from peak	-0.28%	-1.04%	+0.76%
Average Drawdown Average peak-to-trough decline	-5.26%	-1.74%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	—	—

Volatility

Volatility by Period

	ISDW.L	MNZL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.20%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.98%	15.73%	-2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.72%	15.73%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.67%	15.73%	-0.06%

ISDW.L vs. MNZL - Expense Ratio Comparison

ISDW.L has a 0.30% expense ratio, which is lower than MNZL's 0.40% expense ratio.

Dividends

ISDW.L vs. MNZL - Dividend Comparison

ISDW.L's dividend yield for the trailing twelve months is around 0.95%, more than MNZL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISDW.L iShares MSCI World Islamic UCITS	0.95%	1.11%	1.38%	1.56%	2.02%	1.47%	1.38%	1.80%	1.87%	1.54%	1.70%	1.77%
MNZL Manzil Russell Halal USA Broad Market ETF	0.03%	0.04%	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 ISDW.L and MNZL in my portfolio?

ISDW.L and MNZL have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISDW.L or MNZL?

On fees, ISDW.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISDW.L or MNZL?

ISDW.L is cheaper with a 0.30% expense ratio, compared with 0.40% for MNZL.

What is the main difference between ISDW.L and MNZL?

ISDW.L is categorized as Global Equities, while MNZL is Large Cap Blend Equities. ISDW.L tracks MSCI World Islamic Index, while MNZL tracks Russell IdealRatings Manzil Halal USA Broad Market Index. They also come from different issuers: iShares and Manzil. Their fees differ too: 0.30% for ISDW.L and 0.40% for MNZL.