IWDA.AS vs. ZPRS.DE
IWDA.AS (iShares Core MSCI World UCITS ETF USD (Acc)) and ZPRS.DE (SPDR MSCI World Small Cap UCITS ETF) are both Global Equities funds - IWDA.AS tracks the MSCI World Index while ZPRS.DE tracks the MSCI World Small Cap. Both are passively managed. Over the past 10 years, IWDA.AS returned 13.10%/yr vs 10.21%/yr for ZPRS.DE. Their correlation of 0.88 suggests significant overlap in exposure. IWDA.AS charges 0.20%/yr vs 0.45%/yr for ZPRS.DE.
Performance
IWDA.AS vs. ZPRS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IWDA.AS achieves a 11.31% return, which is significantly lower than ZPRS.DE's 15.99% return. Over the past 10 years, IWDA.AS has outperformed ZPRS.DE with an annualized return of 13.10%, while ZPRS.DE has yielded a comparatively lower 10.21% annualized return.
IWDA.AS
- 1D
- -0.08%
- 1M
- 2.60%
- YTD
- 11.31%
- 6M
- 13.13%
- 1Y
- 24.64%
- 3Y*
- 17.15%
- 5Y*
- 12.43%
- 10Y*
- 13.10%
ZPRS.DE
- 1D
- -0.48%
- 1M
- 4.91%
- YTD
- 15.99%
- 6M
- 17.57%
- 1Y
- 31.87%
- 3Y*
- 14.65%
- 5Y*
- 7.87%
- 10Y*
- 10.21%
IWDA.AS vs. ZPRS.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) | 11.31% | 7.08% | 27.23% | 19.89% | -13.54% | 32.54% | 6.20% | 29.58% | -4.16% | 7.49% |
ZPRS.DE SPDR MSCI World Small Cap UCITS ETF | 15.99% | 7.37% | 13.79% | 12.57% | -14.08% | 25.40% | 5.40% | 30.21% | -11.45% | 7.16% |
Correlation
The correlation between IWDA.AS and ZPRS.DE is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2013 | 0.88 |
The correlation between IWDA.AS and ZPRS.DE has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
IWDA.AS vs. ZPRS.DE — Risk / Return Rank
IWDA.AS
ZPRS.DE
IWDA.AS vs. ZPRS.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 SPDR MSCI World Small Cap UCITS ETF (ZPRS.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IWDA.AS | ZPRS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.39 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.77 | 4.40 | -0.63 |
| Martin ratioReturn relative to average drawdown | 14.95 | 16.78 | -1.83 |
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Drawdowns
IWDA.AS vs. ZPRS.DE - Drawdown Comparison
The maximum IWDA.AS drawdown since its inception was -33.63%, smaller than the maximum ZPRS.DE drawdown of -40.22%. Use the drawdown chart below to compare losses from any high point for IWDA.AS and ZPRS.DE.
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Drawdown Indicators
| IWDA.AS | ZPRS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -40.22% | +6.59% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -7.22% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -21.59% | -24.49% | +2.90% |
Max Drawdown (5Y)Largest decline over 5 years | -21.59% | -24.49% | +2.90% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -40.22% | +6.59% |
Current DrawdownCurrent decline from peak | -0.12% | -0.48% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -4.23% | -8.85% | +4.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.89% | -0.26% |
Volatility
IWDA.AS vs. ZPRS.DE - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) is 3.07%, while SPDR MSCI World Small Cap UCITS ETF (ZPRS.DE) has a volatility of 3.67%. This indicates that IWDA.AS experiences smaller price fluctuations and is considered to be less risky than ZPRS.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 | ZPRS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 3.67% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 7.97% | 10.05% | -2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.14% | 14.04% | -2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.13% | 16.61% | -2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.01% | 18.00% | -2.99% |
IWDA.AS vs. ZPRS.DE - Expense Ratio Comparison
IWDA.AS has a 0.20% expense ratio, which is lower than ZPRS.DE's 0.45% expense ratio.
Dividends
IWDA.AS vs. ZPRS.DE - Dividend Comparison
Neither IWDA.AS nor ZPRS.DE has paid dividends to shareholders.
Frequently Asked Questions
IWDA.AS and ZPRS.DE have a correlation of 0.83, 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 0.45% for ZPRS.DE.
IWDA.AS tracks MSCI World Index, while ZPRS.DE tracks MSCI World Small Cap. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IWDA.AS and 0.45% for ZPRS.DE.
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