IWRD.AS vs. IUSA.MI
IWRD.AS (iShares MSCI World UCITS ETF) and IUSA.MI (iShares Core S&P 500 UCITS ETF USD Dist) are both exchange-traded funds - IWRD.AS is a Global Equities fund tracking the MSCI ACWI NR USD, while IUSA.MI is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IWRD.AS returned 12.50%/yr vs 14.76%/yr for IUSA.MI. Their correlation of 0.91 suggests significant overlap in exposure. IWRD.AS charges 0.50%/yr vs 0.07%/yr for IUSA.MI.
Performance
IWRD.AS vs. IUSA.MI - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IWRD.AS having a 10.92% return and IUSA.MI slightly higher at 11.29%. Over the past 10 years, IWRD.AS has underperformed IUSA.MI with an annualized return of 12.50%, while IUSA.MI has yielded a comparatively higher 14.76% annualized return.
IWRD.AS
- 1D
- -0.08%
- 1M
- 4.72%
- YTD
- 10.92%
- 6M
- 11.18%
- 1Y
- 23.48%
- 3Y*
- 17.21%
- 5Y*
- 12.56%
- 10Y*
- 12.50%
IUSA.MI
- 1D
- -0.12%
- 1M
- 5.15%
- YTD
- 11.29%
- 6M
- 11.37%
- 1Y
- 25.46%
- 3Y*
- 18.75%
- 5Y*
- 14.63%
- 10Y*
- 14.76%
IWRD.AS vs. IUSA.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWRD.AS iShares MSCI World UCITS ETF | 10.92% | 6.83% | 26.78% | 19.68% | -13.85% | 32.06% | 5.87% | 29.11% | -4.38% | 7.51% |
IUSA.MI iShares Core S&P 500 UCITS ETF USD Dist | 11.29% | 4.17% | 33.56% | 22.16% | -14.75% | 40.69% | 7.30% | 34.11% | -1.42% | 6.61% |
Correlation
The correlation between IWRD.AS and IUSA.MI is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2005 | 0.91 |
The correlation between IWRD.AS and IUSA.MI has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
IWRD.AS vs. IUSA.MI — Risk / Return Rank
IWRD.AS
IUSA.MI
IWRD.AS vs. IUSA.MI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World UCITS ETF (IWRD.AS) and iShares Core S&P 500 UCITS ETF USD Dist (IUSA.MI). 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.
| IWRD.AS | IUSA.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.42 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 3.54 | -0.08 |
| Martin ratioReturn relative to average drawdown | 13.65 | 12.66 | +0.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWRD.AS | IUSA.MI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | 2.27 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.96 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | 0.91 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.60 | -0.10 |
Drawdowns
IWRD.AS vs. IUSA.MI - Drawdown Comparison
The maximum IWRD.AS drawdown since its inception was -52.51%, roughly equal to the maximum IUSA.MI drawdown of -52.36%. Use the drawdown chart below to compare losses from any high point for IWRD.AS and IUSA.MI.
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Drawdown Indicators
| IWRD.AS | IUSA.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.51% | -52.36% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -6.69% | -7.19% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -21.50% | -23.29% | +1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -21.50% | -23.29% | +1.79% |
Max Drawdown (10Y)Largest decline over 10 years | -33.71% | -33.68% | -0.03% |
Current DrawdownCurrent decline from peak | -0.32% | -0.46% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -8.84% | -8.05% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 2.01% | -0.30% |
Volatility
IWRD.AS vs. IUSA.MI - Volatility Comparison
iShares MSCI World UCITS ETF (IWRD.AS) and iShares Core S&P 500 UCITS ETF USD Dist (IUSA.MI) have volatilities of 2.65% and 2.70%, 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
| IWRD.AS | IUSA.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 2.70% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 7.72% | 7.46% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.98% | 11.24% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.14% | 15.13% | -0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.16% | 16.08% | -0.92% |
IWRD.AS vs. IUSA.MI - Expense Ratio Comparison
IWRD.AS has a 0.50% expense ratio, which is higher than IUSA.MI's 0.07% expense ratio.
Dividends
IWRD.AS vs. IUSA.MI - Dividend Comparison
IWRD.AS's dividend yield for the trailing twelve months is around 0.85%, more than IUSA.MI's 0.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSA.MI iShares Core S&P 500 UCITS ETF USD Dist | 0.73% | 0.82% | 0.92% | 1.16% | 1.39% | 0.84% | 1.21% | 1.33% | 1.46% | 1.33% | 1.25% | 1.37% |
IWRD.AS iShares MSCI World UCITS ETF | 0.85% | 0.95% | 1.05% | 1.32% | 1.49% | 1.01% | 1.21% | 1.62% | 1.84% | 1.67% | 1.70% | 1.80% |
Frequently Asked Questions
With a correlation of 0.96, IWRD.AS and IUSA.MI 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, IUSA.MI is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSA.MI is cheaper with a 0.07% expense ratio, compared with 0.50% for IWRD.AS.
IWRD.AS is categorized as Global Equities, while IUSA.MI is S&P 500. IWRD.AS tracks MSCI ACWI NR USD, while IUSA.MI tracks S&P 500 Index. Their fees differ too: 0.50% for IWRD.AS and 0.07% for IUSA.MI.
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