IWDA.AS vs. IBCZ.DE
IWDA.AS (iShares Core MSCI World UCITS ETF USD (Acc)) and IBCZ.DE (iShares Edge MSCI World Multifactor UCITS ETF USD (Acc)) are both Global Equities funds from iShares - IWDA.AS tracks the MSCI ACWI NR USD while IBCZ.DE tracks the MSCI World Diversified Multiple-Factor. Both are passively managed. Over the past 10 years, IWDA.AS returned 12.88%/yr vs 11.49%/yr for IBCZ.DE. Their correlation of 0.94 suggests significant overlap in exposure. IWDA.AS charges 0.20%/yr vs 0.50%/yr for IBCZ.DE.
Performance
IWDA.AS vs. IBCZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IWDA.AS achieves a 11.10% return, which is significantly lower than IBCZ.DE's 13.22% return. Over the past 10 years, IWDA.AS has outperformed IBCZ.DE with an annualized return of 12.88%, while IBCZ.DE has yielded a comparatively lower 11.49% annualized return.
IWDA.AS
- 1D
- -0.31%
- 1M
- 5.58%
- YTD
- 11.10%
- 6M
- 11.60%
- 1Y
- 23.84%
- 3Y*
- 17.67%
- 5Y*
- 12.89%
- 10Y*
- 12.88%
IBCZ.DE
- 1D
- -0.44%
- 1M
- 6.92%
- YTD
- 13.22%
- 6M
- 14.20%
- 1Y
- 27.98%
- 3Y*
- 18.79%
- 5Y*
- 12.03%
- 10Y*
- 11.49%
IWDA.AS vs. IBCZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWDA.AS iShares Core MSCI World UCITS ETF USD (Acc) | 11.10% | 7.08% | 27.23% | 19.89% | -13.54% | 32.54% | 6.20% | 29.58% | -4.16% | 7.49% |
IBCZ.DE iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) | 13.22% | 12.05% | 24.09% | 11.45% | -10.83% | 31.27% | 0.44% | 24.79% | -8.31% | 11.03% |
Correlation
The correlation between IWDA.AS and IBCZ.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2015 | 0.95 |
The correlation between IWDA.AS and IBCZ.DE has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
IWDA.AS vs. IBCZ.DE — Risk / Return Rank
IWDA.AS
IBCZ.DE
IWDA.AS vs. IBCZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) and iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.DE). 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.
| IWDA.AS | IBCZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.45 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 5.27 | -1.62 |
| Martin ratioReturn relative to average drawdown | 14.56 | 21.11 | -6.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWDA.AS | IBCZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | 2.44 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.84 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.75 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.69 | +0.14 |
Drawdowns
IWDA.AS vs. IBCZ.DE - Drawdown Comparison
The maximum IWDA.AS drawdown since its inception was -33.63%, roughly equal to the maximum IBCZ.DE drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for IWDA.AS and IBCZ.DE.
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Drawdown Indicators
| IWDA.AS | IBCZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -33.99% | +0.36% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -5.29% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -21.59% | -19.98% | -1.61% |
Max Drawdown (5Y)Largest decline over 5 years | -21.59% | -19.98% | -1.61% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -33.99% | +0.36% |
Current DrawdownCurrent decline from peak | -0.31% | -0.44% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -4.52% | +0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.32% | +0.31% |
Volatility
IWDA.AS vs. IBCZ.DE - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) is 2.79%, while iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.DE) has a volatility of 3.05%. This indicates that IWDA.AS experiences smaller price fluctuations and is considered to be less risky than IBCZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWDA.AS | IBCZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 3.05% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 7.61% | 8.16% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.96% | 11.45% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.08% | 14.11% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.00% | 15.13% | -0.13% |
IWDA.AS vs. IBCZ.DE - Expense Ratio Comparison
IWDA.AS has a 0.20% expense ratio, which is lower than IBCZ.DE's 0.50% expense ratio.
Dividends
IWDA.AS vs. IBCZ.DE - Dividend Comparison
Neither IWDA.AS nor IBCZ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, IWDA.AS and IBCZ.DE 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, IWDA.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWDA.AS is cheaper with a 0.20% expense ratio, compared with 0.50% for IBCZ.DE.
IWDA.AS tracks MSCI ACWI NR USD, while IBCZ.DE tracks MSCI World Diversified Multiple-Factor. Their fees differ too: 0.20% for IWDA.AS and 0.50% for IBCZ.DE.
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