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

IWRD.L vs. SWDA.L

Last updated Jun 5, 2026

IWRD.L (iShares MSCI World UCITS) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds from iShares - IWRD.L tracks the MSCI ACWI NR USD while SWDA.L tracks the MSCI World Index. Both are passively managed. Over the past 10 years, IWRD.L returned 13.59%/yr vs 13.91%/yr for SWDA.L. Their correlation of 0.91 suggests significant overlap in exposure. IWRD.L charges 0.50%/yr vs 0.20%/yr for SWDA.L.

Performance

IWRD.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI World UCITS (IWRD.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

The year-to-date returns for both investments are quite close, with IWRD.L having a 9.97% return and SWDA.L slightly higher at 10.08%. Both investments have delivered pretty close results over the past 10 years, with IWRD.L having a 13.59% annualized return and SWDA.L not far ahead at 13.91%.

IWRD.L

1D
0.10%
1M
3.66%
YTD
9.97%
6M
9.71%
1Y
26.73%
3Y*
17.32%
5Y*
12.72%
10Y*
13.59%

SWDA.L

1D
0.15%
1M
3.75%
YTD
10.08%
6M
9.92%
1Y
27.16%
3Y*
17.68%
5Y*
13.06%
10Y*
13.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IWRD.L
iShares MSCI World UCITS		9.97%12.34%20.62%17.33%-8.62%23.21%11.80%22.77%-4.02%11.65%
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 IWRD.L and SWDA.L is 0.99 - 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

0.99

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

0.99

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

0.99

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

0.99

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2009

0.91

The correlation between IWRD.L and SWDA.L has been stable across timeframes, ranging from 0.91 to 0.99 - a consistent structural relationship.

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

Sectors
IWRD.L
SWDA.L

Technology

30.0%
30.0%

Financial Services

15.4%
15.4%

Industrials

10.8%
10.9%

Communication Services

9.2%
9.2%

Consumer Cyclical

9.0%
9.0%

Healthcare

8.7%
8.7%

Consumer Defensive

5.3%
5.2%

Energy

4.2%
4.2%

Basic Materials

3.2%
3.2%

Utilities

2.5%
2.5%

Real Estate

1.8%
1.8%

Technology

IWRD.L
30.0%
SWDA.L
30.0%

Financial Services

IWRD.L
15.4%
SWDA.L
15.4%

Industrials

IWRD.L
10.8%
SWDA.L
10.9%

Communication Services

IWRD.L
9.2%
SWDA.L
9.2%

Consumer Cyclical

IWRD.L
9.0%
SWDA.L
9.0%

Healthcare

IWRD.L
8.7%
SWDA.L
8.7%

Consumer Defensive

IWRD.L
5.3%
SWDA.L
5.2%

Energy

IWRD.L
4.2%
SWDA.L
4.2%

Basic Materials

IWRD.L
3.2%
SWDA.L
3.2%

Utilities

IWRD.L
2.5%
SWDA.L
2.5%

Real Estate

IWRD.L
1.8%
SWDA.L
1.8%

Compare stocks, funds, or ETFs

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iShares MSCI World UCITS

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with IWRD.L:
IWRD.L vs. SWRD.ASIWRD.L vs. URTHIWRD.L vs. VWRL.LIWRD.L vs. HMWO.LIWRD.L vs. ACNIWRD.L vs. VTIWRD.L vs. DEM.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

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWRD.L
IWRD.L Risk / Return Rank: 8181
Overall Rank
IWRD.L Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
IWRD.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
IWRD.L Omega Ratio Rank: 8383
Omega Ratio Rank
IWRD.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
IWRD.L Martin Ratio Rank: 8282
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World UCITS (IWRD.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.

IWRD.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
2.60
2.66

-0.06

Sortino ratioReturn per unit of downside risk
3.57
3.69

-0.12

Omega ratioGain probability vs. loss probability

1.50

1.51

-0.01

Calmar ratioReturn relative to maximum drawdown

4.07

4.14

-0.07

Martin ratioReturn relative to average drawdown

16.12

16.55

-0.43

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

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

The current IWRD.L Sharpe Ratio is 2.60, which is comparable to the SWDA.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IWRD.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

IWRD.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.60

2.66

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.96

0.98

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.94

0.96

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.56

0.88

-0.33

Drawdowns

IWRD.L vs. SWDA.L - Drawdown Comparison

The maximum IWRD.L drawdown since its inception was -38.28%, 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 IWRD.L and SWDA.L.

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Drawdown Indicators

IWRD.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.28%

-25.58%

-12.70%

Max Drawdown (1Y)

Largest decline over 1 year

-6.57%

-6.55%

-0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-18.93%

-18.50%

-0.43%

Max Drawdown (5Y)

Largest decline over 5 years

-18.93%

-18.50%

-0.43%

Max Drawdown (10Y)

Largest decline over 10 years

-25.30%

-25.58%

+0.28%

Current Drawdown

Current decline from peak

-0.18%

-0.10%

-0.08%

Average Drawdown

Average peak-to-trough decline

-4.92%

-3.49%

-1.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.66%

1.64%

+0.02%

Volatility

IWRD.L vs. SWDA.L - Volatility Comparison

iShares MSCI World UCITS (IWRD.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) have volatilities of 2.55% 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

IWRD.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.55%

2.52%

+0.03%

Volatility (6M)

Calculated over the trailing 6-month period

7.30%

7.29%

+0.01%

Volatility (1Y)

Calculated over the trailing 1-year period

10.28%

10.19%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.27%

13.30%

-0.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.50%

14.50%

0.00%

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

IWRD.L has a 0.50% expense ratio, which is higher than SWDA.L's 0.20% expense ratio.

Dividends

IWRD.L vs. SWDA.L - Dividend Comparison

IWRD.L's dividend yield for the trailing twelve months is around 0.85%, while SWDA.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IWRD.L
iShares MSCI World UCITS		0.85%0.93%1.06%1.31%1.44%1.03%1.21%1.66%1.81%1.64%1.61%1.78%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.99, IWRD.L and SWDA.L 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, 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 0.50% for IWRD.L.

IWRD.L tracks MSCI ACWI NR USD, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.50% for IWRD.L and 0.20% for SWDA.L.

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