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IWDA.L vs. MXWO.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWDA.L vs. MXWO.L

Last updated Jun 5, 2026

IWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) and MXWO.L (Invesco MSCI World UCITS ETF) are both Global Equities funds - IWDA.L tracks the MSCI World Index (Net) while MXWO.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, IWDA.L returned 13.07%/yr vs 13.12%/yr for MXWO.L. Their correlation of 0.93 suggests significant overlap in exposure. IWDA.L charges 0.20%/yr vs 0.19%/yr for MXWO.L.

Performance

IWDA.L vs. MXWO.L - 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 Invesco MSCI World UCITS ETF (MXWO.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with IWDA.L having a 9.83% return and MXWO.L slightly higher at 9.99%. Both investments have delivered pretty close results over the past 10 years, with IWDA.L having a 13.07% annualized return and MXWO.L not far ahead at 13.12%.

IWDA.L

1D
0.10%
1M
4.07%
YTD
9.83%
6M
10.98%
1Y
25.98%
3Y*
20.77%
5Y*
11.86%
10Y*
13.07%

MXWO.L

1D
0.04%
1M
4.21%
YTD
9.99%
6M
11.10%
1Y
26.14%
3Y*
20.86%
5Y*
11.92%
10Y*
13.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWDA.L vs. MXWO.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		9.83%21.03%19.11%24.27%-18.11%22.19%16.06%27.13%-9.01%22.77%
MXWO.L
Invesco MSCI World UCITS ETF		9.99%20.83%19.19%24.56%-18.08%22.12%16.27%27.41%-9.08%22.79%

Correlation

The correlation between IWDA.L and MXWO.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.99

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

0.99

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

0.99

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

0.98

Correlation (All Time)
Calculated using the full available price history since Nov 24, 2011

0.93

The correlation between IWDA.L and MXWO.L has been stable across timeframes, ranging from 0.93 to 0.99 - a consistent structural relationship.

IWDA.L vs. MXWO.L - Sectors Allocation Comparison

Sectors
IWDA.L
MXWO.L

Technology

32.9%
28.3%

Financial Services

14.9%
15.7%

Industrials

9.7%
11.4%

Communication Services

9.3%
9.3%

Consumer Cyclical

8.8%
9.3%

Healthcare

8.6%
8.8%

Consumer Defensive

4.8%
5.2%

Energy

3.9%
4.2%

Basic Materials

2.8%
3.3%

Utilities

2.4%
2.7%

Real Estate

1.2%
1.9%

Technology

IWDA.L
32.9%
MXWO.L
28.3%

Financial Services

IWDA.L
14.9%
MXWO.L
15.7%

Industrials

IWDA.L
9.7%
MXWO.L
11.4%

Communication Services

IWDA.L
9.3%
MXWO.L
9.3%

Consumer Cyclical

IWDA.L
8.8%
MXWO.L
9.3%

Healthcare

IWDA.L
8.6%
MXWO.L
8.8%

Consumer Defensive

IWDA.L
4.8%
MXWO.L
5.2%

Energy

IWDA.L
3.9%
MXWO.L
4.2%

Basic Materials

IWDA.L
2.8%
MXWO.L
3.3%

Utilities

IWDA.L
2.4%
MXWO.L
2.7%

Real Estate

IWDA.L
1.2%
MXWO.L
1.9%

Compare stocks, funds, or ETFs

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iShares Core MSCI World UCITS ETF USD (Acc)

Invesco MSCI World UCITS ETF

Often compared with IWDA.L:
IWDA.L vs. VWCE.DEIWDA.L vs. SWDA.LIWDA.L vs. VWRP.LIWDA.L vs. VUAA.LIWDA.L vs. URTHIWDA.L vs. ACWI.LIWDA.L vs. SPY
Often compared with MXWO.L:
MXWO.L vs. MXWS.LMXWO.L vs. SSAC.LMXWO.L vs. URTHMXWO.L vs. VTMXWO.L vs. ^NDXMXWO.L vs. SPY5.LMXWO.L vs. MWEQ.L

Return for Risk

IWDA.L vs. MXWO.L — 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: 6868
Overall Rank
IWDA.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IWDA.L Sortino Ratio Rank: 7373
Sortino Ratio Rank
IWDA.L Omega Ratio Rank: 6767
Omega Ratio Rank
IWDA.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
IWDA.L Martin Ratio Rank: 7272
Martin Ratio Rank
MXWO.L
MXWO.L Risk / Return Rank: 6969
Overall Rank
MXWO.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
MXWO.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
MXWO.L Omega Ratio Rank: 6868
Omega Ratio Rank
MXWO.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
MXWO.L Martin Ratio Rank: 7272
Martin Ratio Rank
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. MXWO.L - 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 Invesco MSCI World UCITS ETF (MXWO.L). 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.LMXWO.LDifference
Sharpe ratioReturn per unit of total volatility
2.17
2.19

-0.02

Sortino ratioReturn per unit of downside risk
3.26
3.26

-0.01

Omega ratioGain probability vs. loss probability

1.40

1.40

0.00

Calmar ratioReturn relative to maximum drawdown

3.11

3.12

-0.01

Martin ratioReturn relative to average drawdown

13.16

13.34

-0.17

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.L vs. MXWO.L - Sharpe Ratio Comparison

The current IWDA.L Sharpe Ratio is 2.17, which is comparable to the MXWO.L Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of IWDA.L and MXWO.L, 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.LMXWO.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.17

2.19

-0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.76

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.82

0.82

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

0.86

-0.07

Drawdowns

IWDA.L vs. MXWO.L - Drawdown Comparison

The maximum IWDA.L drawdown since its inception was -34.11%, roughly equal to the maximum MXWO.L drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for IWDA.L and MXWO.L.

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Drawdown Indicators

IWDA.LMXWO.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.11%

-33.89%

-0.22%

Max Drawdown (1Y)

Largest decline over 1 year

-8.31%

-8.34%

+0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-16.94%

-17.85%

+0.91%

Max Drawdown (5Y)

Largest decline over 5 years

-25.88%

-25.80%

-0.08%

Max Drawdown (10Y)

Largest decline over 10 years

-34.11%

-33.89%

-0.22%

Current Drawdown

Current decline from peak

-0.43%

-0.45%

+0.02%

Average Drawdown

Average peak-to-trough decline

-4.44%

-4.31%

-0.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.97%

1.95%

+0.02%

Volatility

IWDA.L vs. MXWO.L - Volatility Comparison

iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) and Invesco MSCI World UCITS ETF (MXWO.L) have volatilities of 3.40% and 3.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWDA.LMXWO.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.40%

3.32%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

9.19%

9.15%

+0.04%

Volatility (1Y)

Calculated over the trailing 1-year period

11.93%

11.88%

+0.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.68%

15.75%

-0.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.91%

15.93%

-0.02%

IWDA.L vs. MXWO.L - Expense Ratio Comparison

IWDA.L has a 0.20% expense ratio, which is higher than MXWO.L's 0.19% expense ratio. However, 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.L vs. MXWO.L - Dividend Comparison

Neither IWDA.L nor MXWO.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.99, IWDA.L and MXWO.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, MXWO.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MXWO.L is cheaper with a 0.19% expense ratio, compared with 0.20% for IWDA.L.

IWDA.L tracks MSCI World Index (Net), while MXWO.L tracks MSCI ACWI NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for IWDA.L and 0.19% for MXWO.L.

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