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IWDA.AS vs. USD=X
Performance
Return for Risk
Drawdowns
Volatility

IWDA.AS vs. USD=X

Last updated Jun 5, 2026

IWDA.AS (iShares Core MSCI World UCITS ETF USD (Acc)) is Global Equities fund tracking the MSCI World Index, while USD=X (USD Cash) is a currency. Over the past 10 years, IWDA.AS returned 12.81%/yr vs -0.25%/yr for USD=X. At a 0.18 correlation, their price movements are largely independent.

Performance

IWDA.AS vs. USD=X - 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 USD Cash (USD=X). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IWDA.AS is traded in EUR, while USD=X is traded in USD. To make them comparable, the USD=X values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IWDA.AS achieves a 11.06% return, which is significantly higher than USD=X's 1.84% return. Over the past 10 years, IWDA.AS has outperformed USD=X with an annualized return of 12.81%, while USD=X has yielded a comparatively lower -0.25% annualized return.

IWDA.AS

1D
-0.03%
1M
3.65%
YTD
11.06%
6M
11.08%
1Y
23.22%
3Y*
17.53%
5Y*
12.88%
10Y*
12.81%

USD=X

1D
0.00%
1M
2.18%
YTD
1.84%
6M
0.90%
1Y
-1.05%
3Y*
-2.31%
5Y*
1.09%
10Y*
-0.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWDA.AS vs. USD=X - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWDA.AS
iShares Core MSCI World UCITS ETF USD (Acc)		11.06%7.08%27.23%19.89%-13.54%32.54%6.20%29.58%-4.16%7.49%
USD=X
USD Cash		1.84%-11.87%6.60%-3.00%6.20%7.48%-8.24%2.26%4.69%-12.29%

Correlation

The correlation between IWDA.AS and USD=X is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.09

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

0.16

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

0.07

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

0.16

Correlation (All Time)
Calculated using the full available price history since Oct 20, 2009

0.18

The correlation between IWDA.AS and USD=X shifts across timeframes, from 0.07 (5 years) to 0.18 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares Core MSCI World UCITS ETF USD (Acc)

USD Cash

Often compared with IWDA.AS:
IWDA.AS vs. CSPX.LIWDA.AS vs. VTIWDA.AS vs. IWQU.LIWDA.AS vs. SWRD.ASIWDA.AS vs. IWVL.LIWDA.AS vs. WEBN.DEIWDA.AS vs. SPYI.DE
Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX

Return for Risk

IWDA.AS vs. USD=X — 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: 7171
Overall Rank
IWDA.AS Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
IWDA.AS Sortino Ratio Rank: 6767
Sortino Ratio Rank
IWDA.AS Omega Ratio Rank: 6969
Omega Ratio Rank
IWDA.AS Calmar Ratio Rank: 7474
Calmar Ratio Rank
IWDA.AS Martin Ratio Rank: 7777
Martin Ratio Rank
USD=X
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. USD=X - 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 USD Cash (USD=X). 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.ASUSD=XDifference
Sharpe ratioReturn per unit of total volatility
2.15
-0.15

+2.30

Sortino ratioReturn per unit of downside risk
3.03
-0.16

+3.18

Omega ratioGain probability vs. loss probability

1.41

0.98

+0.42

Calmar ratioReturn relative to maximum drawdown

3.64

-0.18

+3.82

Martin ratioReturn relative to average drawdown

14.53

-0.39

+14.93

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. USD=X - Sharpe Ratio Comparison

The current IWDA.AS Sharpe Ratio is 2.15, which is higher than the USD=X Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of IWDA.AS and USD=X, 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

IWDA.ASUSD=XDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.15

-0.15

+2.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.90

0.14

+0.76

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

-0.03

+0.87

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

0.10

+0.72

Drawdowns

IWDA.AS vs. USD=X - Drawdown Comparison

The maximum IWDA.AS drawdown since its inception was -33.63%, which is greater than USD=X's maximum drawdown of -20.32%. Use the drawdown chart below to compare losses from any high point for IWDA.AS and USD=X.

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Drawdown Indicators

IWDA.ASUSD=XDifference

Max Drawdown

Largest peak-to-trough decline

-33.63%

-20.32%

-13.31%

Max Drawdown (1Y)

Largest decline over 1 year

-6.45%

-5.33%

-1.12%

Max Drawdown (3Y)

Largest decline over 3 years

-21.59%

-15.23%

-6.36%

Max Drawdown (5Y)

Largest decline over 5 years

-21.59%

-20.32%

-1.27%

Max Drawdown (10Y)

Largest decline over 10 years

-33.63%

-20.32%

-13.31%

Current Drawdown

Current decline from peak

-0.34%

-16.81%

+16.47%

Average Drawdown

Average peak-to-trough decline

-4.25%

-9.48%

+5.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.63%

1.89%

-0.26%

Volatility

IWDA.AS vs. USD=X - Volatility Comparison

iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) has a higher volatility of 2.62% compared to USD Cash (USD=X) at 1.33%. This indicates that IWDA.AS's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWDA.ASUSD=XDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.62%

1.33%

+1.29%

Volatility (6M)

Calculated over the trailing 6-month period

7.61%

4.59%

+3.02%

Volatility (1Y)

Calculated over the trailing 1-year period

10.90%

5.45%

+5.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.08%

6.44%

+7.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.99%

6.20%

+8.79%

Frequently Asked Questions

IWDA.AS and USD=X have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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