IWDA.AS vs. XUSE.AS
IWDA.AS (iShares Core MSCI World UCITS ETF USD (Acc)) and XUSE.AS (iShares MSCI World ex-USA UCITS ETF) are both Global Equities funds from iShares - IWDA.AS tracks the MSCI ACWI NR USD while XUSE.AS tracks the MSCI World ex USA Index. Both are passively managed. Over the past year, IWDA.AS returned 23.84% vs 20.43% for XUSE.AS. A 0.76 correlation means they provide meaningful diversification when combined. IWDA.AS charges 0.20%/yr vs 0.25%/yr for XUSE.AS.
Performance
IWDA.AS vs. XUSE.AS - Performance Comparison
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Different Trading Currencies
IWDA.AS is traded in EUR, while XUSE.AS is traded in USD. To make them comparable, the XUSE.AS 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 11.10% return, which is significantly higher than XUSE.AS's 9.38% 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%
XUSE.AS
- 1D
- -0.47%
- 1M
- 3.97%
- YTD
- 9.38%
- 6M
- 12.31%
- 1Y
- 20.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWDA.AS vs. XUSE.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IWDA.AS iShares Core MSCI World UCITS ETF USD (Acc) | 11.10% | 4.16% |
XUSE.AS iShares MSCI World ex-USA UCITS ETF | 9.38% | 11.20% |
Correlation
The correlation between IWDA.AS and XUSE.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 (All Time) Calculated using the full available price history since Jan 31, 2025 | 0.76 |
The correlation between IWDA.AS and XUSE.AS has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.
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Return for Risk
IWDA.AS vs. XUSE.AS — Risk / Return Rank
IWDA.AS
XUSE.AS
IWDA.AS vs. XUSE.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 MSCI World ex-USA UCITS ETF (XUSE.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 | XUSE.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.28 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 2.35 | +1.29 |
| Martin ratioReturn relative to average drawdown | 14.56 | 9.07 | +5.49 |
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 | XUSE.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | 1.51 | +0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 1.02 | -0.20 |
Drawdowns
IWDA.AS vs. XUSE.AS - Drawdown Comparison
The maximum IWDA.AS drawdown since its inception was -33.63%, which is greater than XUSE.AS's maximum drawdown of -15.66%. Use the drawdown chart below to compare losses from any high point for IWDA.AS and XUSE.AS.
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Drawdown Indicators
| IWDA.AS | XUSE.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -15.66% | -17.97% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -8.57% | +2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -21.59% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -1.21% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -2.17% | -2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 2.23% | -0.60% |
Volatility
IWDA.AS vs. XUSE.AS - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) is 2.79%, while iShares MSCI World ex-USA UCITS ETF (XUSE.AS) has a volatility of 4.33%. This indicates that IWDA.AS experiences smaller price fluctuations and is considered to be less risky than XUSE.AS 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 | XUSE.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 4.33% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 7.61% | 11.23% | -3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.96% | 13.38% | -2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.08% | 15.29% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.00% | 15.29% | -0.29% |
IWDA.AS vs. XUSE.AS - Expense Ratio Comparison
IWDA.AS has a 0.20% expense ratio, which is lower than XUSE.AS's 0.25% 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
IWDA.AS vs. XUSE.AS - Dividend Comparison
Neither IWDA.AS nor XUSE.AS has paid dividends to shareholders.
Frequently Asked Questions
IWDA.AS and XUSE.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.
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 0.25% for XUSE.AS.
IWDA.AS tracks MSCI ACWI NR USD, while XUSE.AS tracks MSCI World ex USA Index. Their fees differ too: 0.20% for IWDA.AS and 0.25% for XUSE.AS.
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