IWDE.L vs. USPA.L
IWDE.L (iShares MSCI World EUR Hedged UCITS ETF (Acc)) and USPA.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)) are both exchange-traded funds - IWDE.L is a Global Equities fund tracking the MSCI World 100% Hedged to EUR Index, while USPA.L is a S&P 500 fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG Index. Both are passively managed. Over the past 5 years, IWDE.L returned 10.22%/yr vs 12.94%/yr for USPA.L. Their correlation of 0.83 suggests significant overlap in exposure. IWDE.L charges 0.55%/yr vs 0.07%/yr for USPA.L.
Performance
IWDE.L vs. USPA.L - Performance Comparison
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Different Trading Currencies
IWDE.L is traded in EUR, while USPA.L is traded in USD. To make them comparable, the USPA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IWDE.L achieves a 9.63% return, which is significantly lower than USPA.L's 10.24% return.
IWDE.L
- 1D
- 0.02%
- 1M
- 0.51%
- 6M
- 7.50%
- YTD
- 9.63%
- 1Y
- 21.01%
- 3Y*
- 17.17%
- 5Y*
- 10.22%
- 10Y*
- 11.07%
USPA.L
- 1D
- 0.20%
- 1M
- 1.48%
- 6M
- 8.72%
- YTD
- 10.24%
- 1Y
- 20.98%
- 3Y*
- 18.43%
- 5Y*
- 12.94%
- 10Y*
- —
IWDE.L vs. USPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IWDE.L iShares MSCI World EUR Hedged UCITS ETF (Acc) | 9.63% | 16.39% | 19.76% | 21.13% | -18.36% | 23.42% | 14.29% |
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) | 10.24% | 2.02% | 35.10% | 26.55% | -17.27% | 42.10% | 12.51% |
Correlation
The correlation between IWDE.L and USPA.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2020 | 0.83 |
The correlation between IWDE.L and USPA.L has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
IWDE.L vs. USPA.L — Risk / Return Rank
IWDE.L
USPA.L
IWDE.L vs. USPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World EUR Hedged UCITS ETF (Acc) (IWDE.L) and Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.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.
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.
| IWDE.L | USPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.30 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.23 | +0.44 |
| Martin ratioReturn relative to average drawdown | 11.18 | 7.25 | +3.93 |
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Drawdowns
IWDE.L vs. USPA.L - Drawdown Comparison
The maximum IWDE.L drawdown since its inception was -33.32%, which is greater than USPA.L's maximum drawdown of -22.72%. Use the drawdown chart below to compare losses from any high point for IWDE.L and USPA.L.
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Drawdown Indicators
| IWDE.L | USPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.32% | -22.72% | -10.60% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -9.36% | +1.54% |
Max Drawdown (3Y)Largest decline over 3 years | -17.50% | -22.72% | +5.22% |
Max Drawdown (5Y)Largest decline over 5 years | -23.72% | -22.72% | -1.00% |
Max Drawdown (10Y)Largest decline over 10 years | -33.32% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.65% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -4.97% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 2.89% | -1.01% |
Volatility
IWDE.L vs. USPA.L - Volatility Comparison
The current volatility for iShares MSCI World EUR Hedged UCITS ETF (Acc) (IWDE.L) is 2.67%, while Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) has a volatility of 3.52%. This indicates that IWDE.L experiences smaller price fluctuations and is considered to be less risky than USPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWDE.L | USPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 3.52% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 9.18% | 9.88% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.69% | 12.84% | -1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.91% | 16.56% | -1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.26% | 16.41% | -1.15% |
IWDE.L vs. USPA.L - Expense Ratio Comparison
IWDE.L has a 0.55% expense ratio, which is higher than USPA.L's 0.07% expense ratio.
Dividends
IWDE.L vs. USPA.L - Dividend Comparison
Neither IWDE.L nor USPA.L has paid dividends to shareholders.
Frequently Asked Questions
IWDE.L and USPA.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USPA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USPA.L is cheaper with a 0.07% expense ratio, compared with 0.55% for IWDE.L.
IWDE.L is categorized as Global Equities, while USPA.L is S&P 500. IWDE.L tracks MSCI World 100% Hedged to EUR Index, while USPA.L tracks S&P 500 Net Zero 2050 Paris-Aligned ESG Index. They also come from different issuers: iShares and Franklin. Their fees differ too: 0.55% for IWDE.L and 0.07% for USPA.L.
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