IWDA.L vs. ICLN

Last updated Jun 14, 2026

IWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - IWDA.L is a Global Equities fund tracking the MSCI World Index (Net), while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 10 years, IWDA.L returned 13.34%/yr vs 11.67%/yr for ICLN. At a 0.41 correlation, their price movements are largely independent. IWDA.L charges 0.20%/yr vs 0.39%/yr for ICLN.

Performance

IWDA.L vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) and iShares Global Clean Energy ETF (ICLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWDA.L achieves a 8.48% return, which is significantly lower than ICLN's 27.33% return. Over the past 10 years, IWDA.L has outperformed ICLN with an annualized return of 13.34%, while ICLN has yielded a comparatively lower 11.67% annualized return.

IWDA.L

• 1D: 2.15%
• 1M: -0.15%
• YTD: 8.48%
• 6M: 9.90%
• 1Y: 23.88%
• 3Y*: 19.55%
• 5Y*: 11.47%
• 10Y*: 13.34%

ICLN

• 1D: 0.87%
• 1M: -5.47%
• YTD: 27.33%
• 6M: 27.01%
• 1Y: 60.20%
• 3Y*: 5.25%
• 5Y*: -0.21%
• 10Y*: 11.67%

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

IWDA.L vs. ICLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc)	8.48%	21.03%	19.11%	24.27%	-18.11%	22.19%	16.06%	27.13%	-9.01%	22.75%
ICLN iShares Global Clean Energy ETF	27.33%	47.05%	-25.72%	-20.41%	-5.43%	-24.18%	141.82%	44.36%	-9.03%	21.47%

Correlation

The correlation between IWDA.L and ICLN is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009	0.41

IWDA.L vs. ICLN - Sectors Allocation Comparison

Sectors	IWDA.L	ICLN
Technology	33.9%	10.8%
Financial Services	14.9%	-
Industrials	9.6%	26.2%
Communication Services	9.4%	-
Healthcare	8.9%	-
Consumer Cyclical	8.5%	0.1%
Consumer Defensive	4.7%	-
Energy	4.1%	24.9%
Basic Materials	2.5%	1.3%
Utilities	2.1%	35.4%
Real Estate	1.2%	-

Return for Risk

IWDA.L vs. ICLN — Risk / Return Rank

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

IWDA.L

IWDA.L Risk / Return Rank: 69
IWDA.L Sharpe Ratio Rank: 67
IWDA.L Sortino Ratio Rank: 75
IWDA.L Omega Ratio Rank: 66
IWDA.L Calmar Ratio Rank: 64
IWDA.L Martin Ratio Rank: 72

ICLN

ICLN Risk / Return Rank: 75
ICLN Sharpe Ratio Rank: 78
ICLN Sortino Ratio Rank: 70
ICLN Omega Ratio Rank: 67
ICLN Calmar Ratio Rank: 81
ICLN Martin Ratio Rank: 81

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.L vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) and iShares Global Clean Energy ETF (ICLN). 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.L	ICLN	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.17	-0.27
Sortino ratio: Return per unit of downside risk	2.88	2.73	+0.15
Omega ratio: Gain probability vs. loss probability	1.34	1.34	0.00
Calmar ratio: Return relative to maximum drawdown	2.80	3.73	-0.93
Martin ratio: Return relative to average drawdown	11.55	13.84	-2.29

IWDA.L vs. ICLN - Sharpe Ratio Comparison

The current IWDA.L Sharpe Ratio is 1.90, which is comparable to the ICLN Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of IWDA.L and ICLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IWDA.L vs. ICLN - Drawdown Comparison

The maximum IWDA.L drawdown since its inception was -34.11%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for IWDA.L and ICLN.

Drawdown Indicators

	IWDA.L	ICLN	Difference
Max Drawdown Largest peak-to-trough decline	-34.11%	-87.15%	+53.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-16.38%	+8.07%
Max Drawdown (3Y) Largest decline over 3 years	-16.94%	-43.18%	+26.24%
Max Drawdown (5Y) Largest decline over 5 years	-25.88%	-57.16%	+31.28%
Max Drawdown (10Y) Largest decline over 10 years	-34.11%	-66.75%	+32.64%
Current Drawdown Current decline from peak	-1.65%	-43.03%	+41.38%
Average Drawdown Average peak-to-trough decline	-4.41%	-66.56%	+62.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	4.41%	-2.39%

Volatility

IWDA.L vs. ICLN - Volatility Comparison

The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) is 3.96%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 12.97%. This indicates that IWDA.L experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWDA.L	ICLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	12.97%	-9.01%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	22.62%	-13.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	28.21%	-15.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.72%	27.55%	-11.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.92%	27.32%	-11.40%

IWDA.L vs. ICLN - Expense Ratio Comparison

IWDA.L has a 0.20% expense ratio, which is lower than ICLN's 0.39% expense ratio.

Dividends

IWDA.L vs. ICLN - Dividend Comparison

IWDA.L has not paid dividends to shareholders, while ICLN's dividend yield for the trailing twelve months is around 1.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICLN iShares Global Clean Energy ETF	1.28%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWDA.L and ICLN in my portfolio?

IWDA.L and ICLN have a correlation of 0.49, 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.L or ICLN?

On fees, IWDA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IWDA.L or ICLN?

IWDA.L is cheaper with a 0.20% expense ratio, compared with 0.39% for ICLN.

What is the main difference between IWDA.L and ICLN?

IWDA.L is categorized as Global Equities, while ICLN is Alternative Energy Equities. IWDA.L tracks MSCI World Index (Net), while ICLN tracks S&P Global Clean Energy Index. Their fees differ too: 0.20% for IWDA.L and 0.39% for ICLN.