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IWFS.L vs. SWDA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWFS.L vs. SWDA.L

Last updated Jun 5, 2026

IWFS.L (iShares Edge MSCI World Size Factor UCITS ETF) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds from iShares - IWFS.L tracks the MSCI ACWI NR USD while SWDA.L tracks the MSCI World Index. Both are passively managed. Over the past 10 years, IWFS.L returned 9.00%/yr vs 13.91%/yr for SWDA.L. Their correlation of 0.92 suggests significant overlap in exposure. IWFS.L charges 0.30%/yr vs 0.20%/yr for SWDA.L.

Performance

IWFS.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI World Size Factor UCITS ETF (IWFS.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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, IWFS.L achieves a 6.39% return, which is significantly lower than SWDA.L's 10.08% return. Over the past 10 years, IWFS.L has underperformed SWDA.L with an annualized return of 9.00%, while SWDA.L has yielded a comparatively higher 13.91% annualized return.

IWFS.L

1D
0.39%
1M
2.27%
YTD
6.39%
6M
7.47%
1Y
18.20%
3Y*
11.67%
5Y*
6.56%
10Y*
9.00%

SWDA.L

1D
0.15%
1M
5.12%
YTD
10.08%
6M
10.35%
1Y
27.25%
3Y*
17.68%
5Y*
13.06%
10Y*
13.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWFS.L vs. SWDA.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWFS.L
iShares Edge MSCI World Size Factor UCITS ETF		6.39%13.13%7.64%9.74%-8.21%13.88%7.33%19.31%-9.50%13.28%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		10.08%12.64%21.11%17.59%-8.33%23.64%12.25%23.03%-3.78%11.78%

Correlation

The correlation between IWFS.L and SWDA.L is 0.76, 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

0.76

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

0.80

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

0.86

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

0.91

Correlation (All Time)
Calculated using the full available price history since Oct 7, 2014

0.92

The correlation between IWFS.L and SWDA.L shifts across timeframes, from 0.76 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

IWFS.L vs. SWDA.L - Sectors Allocation Comparison

Sectors
IWFS.L
SWDA.L

Industrials

21.4%
10.9%

Financial Services

14.2%
15.4%

Technology

12.0%
30.0%

Consumer Cyclical

9.7%
9.0%

Healthcare

7.4%
8.7%

Basic Materials

7.1%
3.2%

Real Estate

6.9%
1.8%

Consumer Defensive

6.6%
5.2%

Utilities

6.3%
2.5%

Communication Services

4.8%
9.2%

Energy

3.5%
4.2%

Industrials

IWFS.L
21.4%
SWDA.L
10.9%

Financial Services

IWFS.L
14.2%
SWDA.L
15.4%

Technology

IWFS.L
12.0%
SWDA.L
30.0%

Consumer Cyclical

IWFS.L
9.7%
SWDA.L
9.0%

Healthcare

IWFS.L
7.4%
SWDA.L
8.7%

Basic Materials

IWFS.L
7.1%
SWDA.L
3.2%

Real Estate

IWFS.L
6.9%
SWDA.L
1.8%

Consumer Defensive

IWFS.L
6.6%
SWDA.L
5.2%

Utilities

IWFS.L
6.3%
SWDA.L
2.5%

Communication Services

IWFS.L
4.8%
SWDA.L
9.2%

Energy

IWFS.L
3.5%
SWDA.L
4.2%

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iShares Edge MSCI World Size Factor UCITS ETF

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with IWFS.L:
IWFS.L vs. URTHIWFS.L vs. EQQQ.LIWFS.L vs. VOOIWFS.L vs. XDEQ.LIWFS.L vs. VEAIWFS.L vs. IWFV.LIWFS.L vs. XLKQ.L
Often compared with SWDA.L:
SWDA.L vs. IWDA.LSWDA.L vs. VWRP.LSWDA.L vs. VWCE.DESWDA.L vs. SPYSWDA.L vs. IUSQ.DESWDA.L vs. EUN.LSWDA.L vs. VOO

Return for Risk

IWFS.L vs. SWDA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWFS.L
IWFS.L Risk / Return Rank: 5050
Overall Rank
IWFS.L Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
IWFS.L Sortino Ratio Rank: 5252
Sortino Ratio Rank
IWFS.L Omega Ratio Rank: 5252
Omega Ratio Rank
IWFS.L Calmar Ratio Rank: 4444
Calmar Ratio Rank
IWFS.L Martin Ratio Rank: 4747
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8383
Overall Rank
SWDA.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8484
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8383
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.

IWFS.L vs. SWDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Size Factor UCITS ETF (IWFS.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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.

IWFS.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
1.77
2.66

-0.89

Sortino ratioReturn per unit of downside risk
2.49
3.69

-1.20

Omega ratioGain probability vs. loss probability

1.32

1.51

-0.19

Calmar ratioReturn relative to maximum drawdown

2.18

4.14

-1.96

Martin ratioReturn relative to average drawdown

7.72

16.55

-8.84

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

IWFS.L vs. SWDA.L - Sharpe Ratio Comparison

The current IWFS.L Sharpe Ratio is 1.77, which is lower than the SWDA.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IWFS.L and SWDA.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

IWFS.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.77

2.66

-0.89

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

0.98

-0.48

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.96

-0.33

Sharpe Ratio (All Time)

Calculated using the full available price history

0.63

0.88

-0.25

Drawdowns

IWFS.L vs. SWDA.L - Drawdown Comparison

The maximum IWFS.L drawdown since its inception was -29.90%, which is greater than SWDA.L's maximum drawdown of -25.58%. Use the drawdown chart below to compare losses from any high point for IWFS.L and SWDA.L.

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Drawdown Indicators

IWFS.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-29.90%

-25.58%

-4.32%

Max Drawdown (1Y)

Largest decline over 1 year

-8.31%

-6.55%

-1.76%

Max Drawdown (3Y)

Largest decline over 3 years

-14.42%

-18.50%

+4.08%

Max Drawdown (5Y)

Largest decline over 5 years

-17.33%

-18.50%

+1.17%

Max Drawdown (10Y)

Largest decline over 10 years

-29.90%

-25.58%

-4.32%

Current Drawdown

Current decline from peak

-0.80%

-0.10%

-0.70%

Average Drawdown

Average peak-to-trough decline

-4.67%

-3.49%

-1.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.35%

1.64%

+0.71%

Volatility

IWFS.L vs. SWDA.L - Volatility Comparison

iShares Edge MSCI World Size Factor UCITS ETF (IWFS.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) have volatilities of 2.53% and 2.52%, 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

IWFS.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.53%

2.52%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

7.92%

7.29%

+0.63%

Volatility (1Y)

Calculated over the trailing 1-year period

10.23%

10.19%

+0.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.96%

13.30%

-0.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.39%

14.50%

-0.11%

IWFS.L vs. SWDA.L - Expense Ratio Comparison

IWFS.L has a 0.30% expense ratio, which is higher than SWDA.L's 0.20% expense ratio.

Dividends

IWFS.L vs. SWDA.L - Dividend Comparison

Neither IWFS.L nor SWDA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

IWFS.L and SWDA.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

SWDA.L is cheaper with a 0.20% expense ratio, compared with 0.30% for IWFS.L.

IWFS.L tracks MSCI ACWI NR USD, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.30% for IWFS.L and 0.20% for SWDA.L.

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