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IWDG.L vs. ISWD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWDG.L vs. ISWD.L

Last updated Jun 5, 2026

IWDG.L (iShares Core MSCI World UCITS ETF) and ISWD.L (iShares MSCI World Islamic UCITS ETF USD (Dist)) are both Global Equities funds from iShares - IWDG.L tracks the MSCI World Index while ISWD.L tracks the MSCI World Islamic Index. Both are passively managed. Over the past 5 years, IWDG.L returned 10.65%/yr vs 13.67%/yr for ISWD.L. A 0.80 correlation means they provide meaningful diversification when combined. IWDG.L charges 0.30%/yr vs 0.60%/yr for ISWD.L.

Performance

IWDG.L vs. ISWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Core MSCI World UCITS ETF (IWDG.L) and iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWDG.L achieves a 9.47% return, which is significantly lower than ISWD.L's 20.06% return.

IWDG.L

1D
0.12%
1M
4.47%
YTD
9.47%
6M
10.42%
1Y
25.01%
3Y*
18.86%
5Y*
10.65%
10Y*
—

ISWD.L

1D
-0.25%
1M
9.64%
YTD
20.06%
6M
20.12%
1Y
38.63%
3Y*
15.87%
5Y*
13.67%
10Y*
12.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWDG.L vs. ISWD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWDG.L
iShares Core MSCI World UCITS ETF		9.47%17.23%19.76%21.24%-18.78%22.69%10.08%22.49%-10.46%8.18%
ISWD.L
iShares MSCI World Islamic UCITS ETF USD (Dist)		20.06%11.58%7.85%17.25%-0.87%23.70%5.11%17.98%-3.81%5.73%

Correlation

The correlation between IWDG.L and ISWD.L 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 (3Y)
Calculated over the trailing 3-year period

0.79

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

0.79

Correlation (All Time)
Calculated using the full available price history since May 26, 2017

0.80

The correlation between IWDG.L and ISWD.L has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

IWDG.L vs. ISWD.L - Sectors Allocation Comparison

Sectors
IWDG.L
ISWD.L

Technology

30.4%
42.8%

Financial Services

15.2%
0.0%

Industrials

10.7%
12.9%

Consumer Cyclical

8.9%
6.9%

Communication Services

8.8%
0.4%

Healthcare

8.5%
10.4%

Consumer Defensive

5.0%
3.7%

Energy

3.9%
11.6%

Basic Materials

3.2%
9.6%

Utilities

2.8%
1.1%

Real Estate

1.7%
0.2%

Technology

IWDG.L
30.4%
ISWD.L
42.8%

Financial Services

IWDG.L
15.2%
ISWD.L
0.0%

Industrials

IWDG.L
10.7%
ISWD.L
12.9%

Consumer Cyclical

IWDG.L
8.9%
ISWD.L
6.9%

Communication Services

IWDG.L
8.8%
ISWD.L
0.4%

Healthcare

IWDG.L
8.5%
ISWD.L
10.4%

Consumer Defensive

IWDG.L
5.0%
ISWD.L
3.7%

Energy

IWDG.L
3.9%
ISWD.L
11.6%

Basic Materials

IWDG.L
3.2%
ISWD.L
9.6%

Utilities

IWDG.L
2.8%
ISWD.L
1.1%

Real Estate

IWDG.L
1.7%
ISWD.L
0.2%

Compare stocks, funds, or ETFs

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iShares Core MSCI World UCITS ETF

iShares MSCI World Islamic UCITS ETF USD (Dist)

Often compared with IWDG.L:
IWDG.L vs. NQSE.DEIWDG.L vs. EVLUIWDG.L vs. IGDA.LIWDG.L vs. EUNK.DEIWDG.L vs. VUSA.DEIWDG.L vs. VTIWDG.L vs. IS3N.DE
Often compared with ISWD.L:
ISWD.L vs. IGDA.LISWD.L vs. SPUSISWD.L vs. HLALISWD.L vs. VOOISWD.L vs. SPWOISWD.L vs. UMMAISWD.L vs. HIWS.L

Return for Risk

IWDG.L vs. ISWD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWDG.L
IWDG.L Risk / Return Rank: 7070
Overall Rank
IWDG.L Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IWDG.L Sortino Ratio Rank: 7171
Sortino Ratio Rank
IWDG.L Omega Ratio Rank: 6868
Omega Ratio Rank
IWDG.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
IWDG.L Martin Ratio Rank: 7575
Martin Ratio Rank
ISWD.L
ISWD.L Risk / Return Rank: 9393
Overall Rank
ISWD.L Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
ISWD.L Sortino Ratio Rank: 9393
Sortino Ratio Rank
ISWD.L Omega Ratio Rank: 9393
Omega Ratio Rank
ISWD.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
ISWD.L Martin Ratio Rank: 9393
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.

IWDG.L vs. ISWD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World UCITS ETF (IWDG.L) and iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.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.

IWDG.LISWD.LDifference
Sharpe ratioReturn per unit of total volatility
2.18
3.40

-1.22

Sortino ratioReturn per unit of downside risk
3.19
4.58

-1.39

Omega ratioGain probability vs. loss probability

1.40

1.63

-0.23

Calmar ratioReturn relative to maximum drawdown

3.26

6.98

-3.72

Martin ratioReturn relative to average drawdown

14.14

23.95

-9.80

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWDG.L vs. ISWD.L - Sharpe Ratio Comparison

The current IWDG.L Sharpe Ratio is 2.18, which is lower than the ISWD.L Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of IWDG.L and ISWD.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

IWDG.LISWD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.18

3.40

-1.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

1.03

-0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.88

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.74

-0.10

Drawdowns

IWDG.L vs. ISWD.L - Drawdown Comparison

The maximum IWDG.L drawdown since its inception was -34.20%, which is greater than ISWD.L's maximum drawdown of -31.52%. Use the drawdown chart below to compare losses from any high point for IWDG.L and ISWD.L.

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Drawdown Indicators

IWDG.LISWD.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.20%

-31.52%

-2.68%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-5.51%

-2.13%

Max Drawdown (3Y)

Largest decline over 3 years

-17.57%

-21.00%

+3.43%

Max Drawdown (5Y)

Largest decline over 5 years

-23.79%

-21.00%

-2.79%

Max Drawdown (10Y)

Largest decline over 10 years

—

-24.90%

—

Current Drawdown

Current decline from peak

-0.36%

-0.25%

-0.11%

Average Drawdown

Average peak-to-trough decline

-5.14%

-3.60%

-1.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.76%

1.61%

+0.15%

Volatility

IWDG.L vs. ISWD.L - Volatility Comparison

The current volatility for iShares Core MSCI World UCITS ETF (IWDG.L) is 3.12%, while iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L) has a volatility of 3.64%. This indicates that IWDG.L experiences smaller price fluctuations and is considered to be less risky than ISWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWDG.LISWD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.12%

3.64%

-0.52%

Volatility (6M)

Calculated over the trailing 6-month period

8.64%

8.41%

+0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

11.43%

11.32%

+0.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.85%

13.27%

+1.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.96%

14.33%

+1.63%

IWDG.L vs. ISWD.L - Expense Ratio Comparison

IWDG.L has a 0.30% expense ratio, which is lower than ISWD.L's 0.60% expense ratio.

Dividends

IWDG.L vs. ISWD.L - Dividend Comparison

IWDG.L's dividend yield for the trailing twelve months is around 0.01%, less than ISWD.L's 1.27% yield.

PositionTTM20252024202320222021202020192018201720162015
ISWD.L
iShares MSCI World Islamic UCITS ETF USD (Dist)		1.27%1.50%1.74%1.99%2.43%1.98%1.88%2.37%2.39%2.09%2.09%2.62%
IWDG.L
iShares Core MSCI World UCITS ETF		0.01%0.01%0.01%0.01%0.02%0.01%0.01%0.02%0.02%0.01%0.00%0.00%

Frequently Asked Questions

IWDG.L and ISWD.L 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, IWDG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IWDG.L is cheaper with a 0.30% expense ratio, compared with 0.60% for ISWD.L.

IWDG.L tracks MSCI World Index, while ISWD.L tracks MSCI World Islamic Index. Their fees differ too: 0.30% for IWDG.L and 0.60% for ISWD.L.

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