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IUSA.L vs. SWDA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUSA.L vs. SWDA.L

Last updated Jun 5, 2026

IUSA.L (iShares S&P 500 UCITS Dist) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IUSA.L is a S&P 500 fund tracking the S&P 500 Index, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, IUSA.L returned 16.52%/yr vs 13.91%/yr for SWDA.L. Their correlation of 0.89 suggests significant overlap in exposure. IUSA.L charges 0.07%/yr vs 0.20%/yr for SWDA.L.

Performance

IUSA.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares S&P 500 UCITS Dist (IUSA.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IUSA.L achieves a 10.67% return, which is significantly higher than SWDA.L's 10.08% return. Over the past 10 years, IUSA.L has outperformed SWDA.L with an annualized return of 16.52%, while SWDA.L has yielded a comparatively lower 13.91% annualized return.

IUSA.L

1D
0.04%
1M
4.50%
YTD
10.67%
6M
10.05%
1Y
29.42%
3Y*
19.42%
5Y*
15.33%
10Y*
16.52%

SWDA.L

1D
0.15%
1M
3.75%
YTD
10.08%
6M
9.92%
1Y
27.16%
3Y*
17.68%
5Y*
13.06%
10Y*
13.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSA.L vs. SWDA.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUSA.L
iShares S&P 500 UCITS Dist		10.67%9.70%27.73%20.24%-8.72%31.54%14.15%27.06%0.51%11.19%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		10.08%12.64%21.11%17.59%-8.33%23.64%12.25%23.03%-3.78%11.78%

Correlation

The correlation between IUSA.L and SWDA.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.96

Correlation (3Y)
Calculated over the trailing 3-year period

0.96

Correlation (5Y)
Calculated over the trailing 5-year period

0.96

Correlation (10Y)
Calculated over the trailing 10-year period

0.97

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2009

0.89

The correlation between IUSA.L and SWDA.L has been stable across timeframes, ranging from 0.89 to 0.97 - a consistent structural relationship.

IUSA.L vs. SWDA.L - Sectors Allocation Comparison

Sectors
IUSA.L
SWDA.L

Technology

38.2%
30.0%

Financial Services

11.1%
15.4%

Communication Services

10.9%
9.2%

Consumer Cyclical

10.0%
9.0%

Healthcare

8.3%
8.7%

Industrials

7.9%
10.9%

Consumer Defensive

4.7%
5.2%

Energy

3.2%
4.2%

Utilities

2.2%
2.5%

Real Estate

1.9%
1.8%

Basic Materials

1.7%
3.2%

Technology

IUSA.L
38.2%
SWDA.L
30.0%

Financial Services

IUSA.L
11.1%
SWDA.L
15.4%

Communication Services

IUSA.L
10.9%
SWDA.L
9.2%

Consumer Cyclical

IUSA.L
10.0%
SWDA.L
9.0%

Healthcare

IUSA.L
8.3%
SWDA.L
8.7%

Industrials

IUSA.L
7.9%
SWDA.L
10.9%

Consumer Defensive

IUSA.L
4.7%
SWDA.L
5.2%

Energy

IUSA.L
3.2%
SWDA.L
4.2%

Utilities

IUSA.L
2.2%
SWDA.L
2.5%

Real Estate

IUSA.L
1.9%
SWDA.L
1.8%

Basic Materials

IUSA.L
1.7%
SWDA.L
3.2%

Compare stocks, funds, or ETFs

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iShares S&P 500 UCITS Dist

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with IUSA.L:
IUSA.L vs. CSP1.LIUSA.L vs. VUAA.LIUSA.L vs. IAPD.ASIUSA.L vs. SPX5.LIUSA.L vs. SPXP.LIUSA.L vs. VOOIUSA.L vs. IVV
Often compared with SWDA.L:
SWDA.L vs. IWDA.LSWDA.L vs. VWRP.LSWDA.L vs. VWCE.DESWDA.L vs. SPYSWDA.L vs. IUSQ.DESWDA.L vs. EUN.LSWDA.L vs. VOO

Return for Risk

IUSA.L vs. SWDA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUSA.L
IUSA.L Risk / Return Rank: 8484
Overall Rank
IUSA.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
IUSA.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
IUSA.L Omega Ratio Rank: 8686
Omega Ratio Rank
IUSA.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
IUSA.L Martin Ratio Rank: 8080
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8383
Overall Rank
SWDA.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8484
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8383
Martin Ratio Rank
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.

IUSA.L vs. SWDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 UCITS Dist (IUSA.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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.

IUSA.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
2.82
2.66

+0.16

Sortino ratioReturn per unit of downside risk
3.78
3.69

+0.08

Omega ratioGain probability vs. loss probability

1.53

1.51

+0.02

Calmar ratioReturn relative to maximum drawdown

4.20

4.14

+0.06

Martin ratioReturn relative to average drawdown

15.53

16.55

-1.03

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSA.L vs. SWDA.L - Sharpe Ratio Comparison

The current IUSA.L Sharpe Ratio is 2.82, which is comparable to the SWDA.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IUSA.L and SWDA.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.

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Sharpe Ratios by Period

IUSA.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.82

2.66

+0.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.07

0.98

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.06

0.96

+0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.88

-0.30

Drawdowns

IUSA.L vs. SWDA.L - Drawdown Comparison

The maximum IUSA.L drawdown since its inception was -38.58%, which is greater than SWDA.L's maximum drawdown of -25.58%. Use the drawdown chart below to compare losses from any high point for IUSA.L and SWDA.L.

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Drawdown Indicators

IUSA.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.58%

-25.58%

-13.00%

Max Drawdown (1Y)

Largest decline over 1 year

-7.01%

-6.55%

-0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-21.08%

-18.50%

-2.58%

Max Drawdown (5Y)

Largest decline over 5 years

-21.08%

-18.50%

-2.58%

Max Drawdown (10Y)

Largest decline over 10 years

-25.42%

-25.58%

+0.16%

Current Drawdown

Current decline from peak

-0.22%

-0.10%

-0.12%

Average Drawdown

Average peak-to-trough decline

-7.29%

-3.49%

-3.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.90%

1.64%

+0.26%

Volatility

IUSA.L vs. SWDA.L - Volatility Comparison

iShares S&P 500 UCITS Dist (IUSA.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) have volatilities of 2.62% and 2.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUSA.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.62%

2.52%

+0.10%

Volatility (6M)

Calculated over the trailing 6-month period

7.13%

7.29%

-0.16%

Volatility (1Y)

Calculated over the trailing 1-year period

10.44%

10.19%

+0.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.33%

13.30%

+1.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.60%

14.50%

+1.10%

IUSA.L vs. SWDA.L - Expense Ratio Comparison

IUSA.L has a 0.07% expense ratio, which is lower than SWDA.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IUSA.L vs. SWDA.L - Dividend Comparison

IUSA.L's dividend yield for the trailing twelve months is around 1.15%, while SWDA.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IUSA.L
iShares S&P 500 UCITS Dist		1.15%1.24%1.28%1.55%1.74%1.39%1.80%1.96%2.22%1.95%1.75%2.29%
SWDA.L
iShares Core MSCI World UCITS ETF USD (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

With a correlation of 0.96, IUSA.L and SWDA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, IUSA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IUSA.L is cheaper with a 0.07% expense ratio, compared with 0.20% for SWDA.L.

IUSA.L is categorized as S&P 500, while SWDA.L is Global Equities. IUSA.L tracks S&P 500 Index, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.07% for IUSA.L and 0.20% for SWDA.L.

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