ISHG vs. ACWI
ISHG (iShares 1-3 Year International Treasury Bond ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, ISHG returned -0.18%/yr vs 12.67%/yr for ACWI. At a 0.29 correlation, their price movements are largely independent. ISHG charges 0.35%/yr vs 0.32%/yr for ACWI.
Performance
ISHG vs. ACWI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ISHG achieves a -1.21% return, which is significantly lower than ACWI's 12.17% return. Over the past 10 years, ISHG has underperformed ACWI with an annualized return of -0.18%, while ACWI has yielded a comparatively higher 12.67% annualized return.
ISHG
- 1D
- 0.06%
- 1M
- -1.04%
- 6M
- -0.60%
- YTD
- -1.21%
- 1Y
- -0.54%
- 3Y*
- 3.44%
- 5Y*
- -0.95%
- 10Y*
- -0.18%
ACWI
- 1D
- 0.42%
- 1M
- 1.43%
- 6M
- 9.64%
- YTD
- 12.17%
- 1Y
- 23.92%
- 3Y*
- 20.08%
- 5Y*
- 11.00%
- 10Y*
- 12.67%
ISHG vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | -1.21% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
ACWI iShares MSCI ACWI ETF | 12.17% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 26.59% | -9.19% | 24.33% |
Correlation
The correlation between ISHG and ACWI is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2009 | 0.29 |
Over the past year, ISHG and ACWI have become more correlated (0.53) than their long-term average of 0.29, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ISHG vs. ACWI — Risk / Return Rank
ISHG
ACWI
ISHG vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year International Treasury Bond ETF (ISHG) and iShares MSCI ACWI ETF (ACWI). 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.
| ISHG | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.53 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.31 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.41 | -2.58 |
| Martin ratioReturn relative to average drawdown | -0.37 | 10.30 | -10.67 |
Loading charts...
Drawdowns
ISHG vs. ACWI - Drawdown Comparison
The maximum ISHG drawdown since its inception was -37.24%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for ISHG and ACWI.
Loading charts...
Drawdown Indicators
| ISHG | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -56.00% | +18.76% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -9.73% | +4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -16.55% | +8.34% |
Max Drawdown (5Y)Largest decline over 5 years | -22.29% | -26.42% | +4.13% |
Max Drawdown (10Y)Largest decline over 10 years | -25.56% | -33.53% | +7.97% |
Current DrawdownCurrent decline from peak | -23.17% | -0.79% | -22.38% |
Average DrawdownAverage peak-to-trough decline | -18.46% | -8.57% | -9.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 2.27% | +0.02% |
Volatility
ISHG vs. ACWI - Volatility Comparison
The current volatility for iShares 1-3 Year International Treasury Bond ETF (ISHG) is 1.58%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 4.83%. This indicates that ISHG experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ISHG | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 4.83% | -3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 11.46% | -6.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.49% | 13.65% | -7.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 16.19% | -8.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.91% | 17.03% | -10.12% |
ISHG vs. ACWI - Expense Ratio Comparison
ISHG has a 0.35% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
ISHG vs. ACWI - Dividend Comparison
ISHG's dividend yield for the trailing twelve months is around 1.47%, more than ACWI's 1.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.42% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.47% | 1.45% | 2.56% | 0.18% | 0.00% | 1.29% | 0.00% | 0.00% | 1.80% | 0.46% | 0.00% | 0.09% |
Frequently Asked Questions
ISHG and ACWI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACWI has higher volatility (4.83%) compared to ISHG (1.58%). In terms of maximum drawdown, ISHG dropped -37.24% vs ACWI's -56.00%.
On 10-year performance, ACWI leads with 12.67% vs -0.18% for ISHG. On fees, ACWI is cheaper at 0.32% per year. On volatility, ISHG has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ACWI has performed better with a 12.67% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ACWI is cheaper with a 0.32% expense ratio, compared with 0.35% for ISHG.
ISHG has the higher dividend yield at 1.47%, compared with 1.42% for ACWI.
ISHG is categorized as International Government Bonds, while ACWI is Global Equities. ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.35% for ISHG and 0.32% for ACWI.
ACWI currently has the higher Sharpe Ratio (1.71 vs -0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for ISHG and ACWI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer