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IWLD.AX vs. VGS.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWLD.AX vs. VGS.AX

Last updated Jul 16, 2026
Documentation

IWLD.AX (iShares Core MSCI World Ex Australia ESG ETF) and VGS.AX (Vanguard MSCI Index International Shares ETF) are both Global Equities funds - IWLD.AX tracks the iShares Core MSCI World Ex Australia ESG Index while VGS.AX tracks the Vanguard MSCI Index International Shares Index. Both are passively managed. Over the past 10 years, IWLD.AX returned 14.11%/yr vs 13.63%/yr for VGS.AX. Their correlation of 0.86 suggests significant overlap in exposure.

Performance

IWLD.AX vs. VGS.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares Core MSCI World Ex Australia ESG ETF (IWLD.AX) and Vanguard MSCI Index International Shares ETF (VGS.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWLD.AX achieves a 4.51% return, which is significantly lower than VGS.AX's 5.31% return. Both investments have delivered pretty close results over the past 10 years, with IWLD.AX having a 14.11% annualized return and VGS.AX not far behind at 13.63%.

IWLD.AX

1D
0.00%
1M
1.79%
6M
3.63%
YTD
4.51%
1Y
13.37%
3Y*
17.73%
5Y*
13.29%
10Y*
14.11%

VGS.AX

1D
-0.01%
1M
1.72%
6M
4.14%
YTD
5.31%
1Y
13.66%
3Y*
17.60%
5Y*
12.49%
10Y*
13.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWLD.AX vs. VGS.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWLD.AX
iShares Core MSCI World Ex Australia ESG ETF		4.51%12.19%31.18%27.88%-16.19%38.02%3.84%27.93%-0.22%12.45%
VGS.AX
Vanguard MSCI Index International Shares ETF		5.31%12.89%29.23%22.54%-12.72%29.67%5.76%29.16%-0.01%12.95%

Correlation

The correlation between IWLD.AX and VGS.AX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.94

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

0.94

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

0.95

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

0.87

Correlation (All Time)
Calculated using the full available price history since Apr 22, 2016

0.86

The correlation between IWLD.AX and VGS.AX has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.

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iShares Core MSCI World Ex Australia ESG ETF

Vanguard MSCI Index International Shares ETF

Return for Risk

IWLD.AX vs. VGS.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWLD.AX
IWLD.AX Risk / Return Rank: 3737
Overall Rank
IWLD.AX Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
IWLD.AX Sortino Ratio Rank: 4141
Sortino Ratio Rank
IWLD.AX Omega Ratio Rank: 4646
Omega Ratio Rank
IWLD.AX Calmar Ratio Rank: 2626
Calmar Ratio Rank
IWLD.AX Martin Ratio Rank: 2828
Martin Ratio Rank
VGS.AX
VGS.AX Risk / Return Rank: 4242
Overall Rank
VGS.AX Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
VGS.AX Sortino Ratio Rank: 4747
Sortino Ratio Rank
VGS.AX Omega Ratio Rank: 5252
Omega Ratio Rank
VGS.AX Calmar Ratio Rank: 3030
Calmar Ratio Rank
VGS.AX Martin Ratio Rank: 3232
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.

IWLD.AX vs. VGS.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World Ex Australia ESG ETF (IWLD.AX) and Vanguard MSCI Index International Shares ETF (VGS.AX). 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.

IWLD.AXVGS.AXDifference
Sharpe ratioReturn per unit of total volatility
1.27
1.41

-0.14

Sortino ratioReturn per unit of downside risk
1.79
1.98

-0.19

Omega ratioGain probability vs. loss probability

1.25

1.27

-0.02

Calmar ratioReturn relative to maximum drawdown

1.10

1.28

-0.18

Martin ratioReturn relative to average drawdown

3.25

3.83

-0.59

IWLD.AX vs. VGS.AX - Sharpe Ratio Comparison

The current IWLD.AX Sharpe Ratio is 1.27, which is comparable to the VGS.AX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of IWLD.AX and VGS.AX, 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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Drawdowns

IWLD.AX vs. VGS.AX - Drawdown Comparison

The maximum IWLD.AX drawdown since its inception was -24.85%, which is greater than VGS.AX's maximum drawdown of -23.39%. Use the drawdown chart below to compare losses from any high point for IWLD.AX and VGS.AX.

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Drawdown Indicators

IWLD.AXVGS.AXDifference

Max Drawdown

Largest peak-to-trough decline

-24.85%

-23.39%

-1.46%

Max Drawdown (1Y)

Largest decline over 1 year

-12.19%

-10.72%

-1.47%

Max Drawdown (3Y)

Largest decline over 3 years

-15.95%

-13.82%

-2.13%

Max Drawdown (5Y)

Largest decline over 5 years

-23.34%

-20.53%

-2.81%

Max Drawdown (10Y)

Largest decline over 10 years

-24.85%

-23.39%

-1.46%

Current Drawdown

Current decline from peak

-0.42%

-0.36%

-0.06%

Average Drawdown

Average peak-to-trough decline

-4.49%

-4.18%

-0.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.21%

3.65%

+0.56%

Volatility

IWLD.AX vs. VGS.AX - Volatility Comparison

iShares Core MSCI World Ex Australia ESG ETF (IWLD.AX) and Vanguard MSCI Index International Shares ETF (VGS.AX) have volatilities of 2.31% and 2.21%, 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

IWLD.AXVGS.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.31%

2.21%

+0.10%

Volatility (6M)

Calculated over the trailing 6-month period

8.39%

7.83%

+0.56%

Volatility (1Y)

Calculated over the trailing 1-year period

10.62%

9.77%

+0.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.77%

12.41%

+1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.87%

12.92%

+0.95%

Dividends

IWLD.AX vs. VGS.AX - Dividend Comparison

IWLD.AX's dividend yield for the trailing twelve months is around 0.93%, less than VGS.AX's 0.97% yield.

PositionTTM20252024202320222021202020192018201720162015
IWLD.AX
iShares Core MSCI World Ex Australia ESG ETF		0.93%1.21%1.15%2.36%0.77%13.52%2.08%3.20%2.52%1.41%0.00%0.00%
VGS.AX
Vanguard MSCI Index International Shares ETF		0.97%2.49%1.76%1.82%1.42%1.75%2.24%2.42%2.19%2.25%3.29%2.35%

Frequently Asked Questions

With a correlation of 0.94, IWLD.AX and VGS.AX 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.

IWLD.AX tracks iShares Core MSCI World Ex Australia ESG Index, while VGS.AX tracks Vanguard MSCI Index International Shares Index. They also come from different issuers: iShares and Vanguard.

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