IWDA.AS vs. IMAE.AS

Last updated Jun 4, 2026

IWDA.AS (iShares Core MSCI World UCITS ETF USD (Acc)) and IMAE.AS (iShares Core MSCI Europe UCITS ETF EUR (Acc)) are both exchange-traded funds - IWDA.AS is a Global Equities fund tracking the MSCI ACWI NR USD, while IMAE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, IWDA.AS returned 12.88%/yr vs 9.14%/yr for IMAE.AS. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

IWDA.AS vs. IMAE.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) and iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWDA.AS achieves a 11.10% return, which is significantly higher than IMAE.AS's 6.95% return. Over the past 10 years, IWDA.AS has outperformed IMAE.AS with an annualized return of 12.88%, while IMAE.AS has yielded a comparatively lower 9.14% 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%

IMAE.AS

• 1D: -0.71%
• 1M: 3.95%
• YTD: 6.95%
• 6M: 9.74%
• 1Y: 16.05%
• 3Y*: 13.28%
• 5Y*: 9.84%
• 10Y*: 9.14%

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

IWDA.AS vs. IMAE.AS - 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%
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (Acc)	6.95%	19.74%	8.89%	15.99%	-9.31%	25.66%	-3.06%	25.45%	-9.65%	10.15%

Correlation

The correlation between IWDA.AS and IMAE.AS is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 22, 2009	0.78

The correlation between IWDA.AS and IMAE.AS shifts across timeframes, from 0.71 (3 years) to 0.81 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

IWDA.AS vs. IMAE.AS — Risk / Return Rank

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

IWDA.AS

IWDA.AS Risk / Return Rank: 68
IWDA.AS Sharpe Ratio Rank: 63
IWDA.AS Sortino Ratio Rank: 64
IWDA.AS Omega Ratio Rank: 66
IWDA.AS Calmar Ratio Rank: 72
IWDA.AS Martin Ratio Rank: 75

IMAE.AS

IMAE.AS Risk / Return Rank: 35
IMAE.AS Sharpe Ratio Rank: 34
IMAE.AS Sortino Ratio Rank: 34
IMAE.AS Omega Ratio Rank: 35
IMAE.AS Calmar Ratio Rank: 34
IMAE.AS Martin Ratio Rank: 39

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.

IWDA.AS vs. IMAE.AS - 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 Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS). 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	IMAE.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.24	+0.92
Sortino ratio: Return per unit of downside risk	3.03	1.84	+1.19
Omega ratio: Gain probability vs. loss probability	1.41	1.24	+0.17
Calmar ratio: Return relative to maximum drawdown	3.65	1.67	+1.97
Martin ratio: Return relative to average drawdown	14.56	6.19	+8.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWDA.AS vs. IMAE.AS - Sharpe Ratio Comparison

The current IWDA.AS Sharpe Ratio is 2.16, which is higher than the IMAE.AS Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of IWDA.AS and IMAE.AS, 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

	IWDA.AS	IMAE.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	1.24	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.68	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.58	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.53	+0.30

Drawdowns

IWDA.AS vs. IMAE.AS - Drawdown Comparison

The maximum IWDA.AS drawdown since its inception was -33.63%, smaller than the maximum IMAE.AS drawdown of -35.60%. Use the drawdown chart below to compare losses from any high point for IWDA.AS and IMAE.AS.

Drawdown Indicators

	IWDA.AS	IMAE.AS	Difference
Max Drawdown Largest peak-to-trough decline	-33.63%	-35.60%	+1.97%
Max Drawdown (1Y) Largest decline over 1 year	-6.45%	-9.47%	+3.02%
Max Drawdown (3Y) Largest decline over 3 years	-21.59%	-16.51%	-5.08%
Max Drawdown (5Y) Largest decline over 5 years	-21.59%	-19.44%	-2.15%
Max Drawdown (10Y) Largest decline over 10 years	-33.63%	-35.60%	+1.97%
Current Drawdown Current decline from peak	-0.31%	-2.20%	+1.89%
Average Drawdown Average peak-to-trough decline	-4.25%	-5.32%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.56%	-0.93%

Volatility

IWDA.AS vs. IMAE.AS - Volatility Comparison

The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) is 2.79%, while iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) has a volatility of 4.85%. This indicates that IWDA.AS experiences smaller price fluctuations and is considered to be less risky than IMAE.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWDA.AS	IMAE.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	4.85%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	7.61%	10.61%	-3.00%
Volatility (1Y) Calculated over the trailing 1-year period	10.96%	12.75%	-1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.08%	14.15%	-0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.00%	15.54%	-0.54%

IWDA.AS vs. IMAE.AS - Expense Ratio Comparison

Both IWDA.AS and IMAE.AS have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IWDA.AS vs. IMAE.AS - Dividend Comparison

Neither IWDA.AS nor IMAE.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IWDA.AS and IMAE.AS in my portfolio?

IWDA.AS and IMAE.AS have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWDA.AS or IMAE.AS?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IWDA.AS or IMAE.AS?

IWDA.AS and IMAE.AS have the same expense ratio: 0.20% per year.

What is the main difference between IWDA.AS and IMAE.AS?

IWDA.AS is categorized as Global Equities, while IMAE.AS is Europe Equities. IWDA.AS tracks MSCI ACWI NR USD, while IMAE.AS tracks MSCI Europe NR EUR.