IWSZ.L vs. SPMD
IWSZ.L (iShares MSCI World Mid-Cap Equal Weight UCITS ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds - IWSZ.L tracks the MSCI World Mid-Cap Equal Weighted Index while SPMD tracks the S&P MidCap 400 Index. Both are passively managed. Over the past 10 years, IWSZ.L returned 8.20%/yr vs 11.39%/yr for SPMD. A 0.57 correlation means they provide meaningful diversification when combined. IWSZ.L charges 0.30%/yr vs 0.05%/yr for SPMD.
Performance
IWSZ.L vs. SPMD - Performance Comparison
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Returns By Period
In the year-to-date period, IWSZ.L achieves a 6.23% return, which is significantly lower than SPMD's 14.54% return. Over the past 10 years, IWSZ.L has underperformed SPMD with an annualized return of 8.20%, while SPMD has yielded a comparatively higher 11.39% annualized return.
IWSZ.L
- 1D
- 0.37%
- 1M
- 1.26%
- YTD
- 6.23%
- 6M
- 8.11%
- 1Y
- 16.93%
- 3Y*
- 14.68%
- 5Y*
- 5.43%
- 10Y*
- 8.20%
SPMD
- 1D
- 0.33%
- 1M
- 2.89%
- YTD
- 14.54%
- 6M
- 14.24%
- 1Y
- 26.21%
- 3Y*
- 16.67%
- 5Y*
- 8.28%
- 10Y*
- 11.39%
IWSZ.L vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWSZ.L iShares MSCI World Mid-Cap Equal Weight UCITS ETF | 6.23% | 21.40% | 5.93% | 16.04% | -17.96% | 12.56% | 10.79% | 23.39% | -14.41% | 24.35% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.54% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
Correlation
The correlation between IWSZ.L and SPMD is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2014 | 0.57 |
The correlation between IWSZ.L and SPMD has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.
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Return for Risk
IWSZ.L vs. SPMD — Risk / Return Rank
IWSZ.L
SPMD
IWSZ.L vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Mid-Cap Equal Weight UCITS ETF (IWSZ.L) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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.
| IWSZ.L | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.97 | -1.22 |
| Martin ratioReturn relative to average drawdown | 6.67 | 10.91 | -4.25 |
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
| IWSZ.L | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 1.70 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.42 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.54 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.45 | +0.01 |
Drawdowns
IWSZ.L vs. SPMD - Drawdown Comparison
The maximum IWSZ.L drawdown since its inception was -38.11%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for IWSZ.L and SPMD.
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Drawdown Indicators
| IWSZ.L | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.11% | -57.62% | +19.51% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -8.86% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -14.12% | -24.08% | +9.96% |
Max Drawdown (5Y)Largest decline over 5 years | -30.13% | -24.08% | -6.05% |
Max Drawdown (10Y)Largest decline over 10 years | -38.11% | -41.86% | +3.75% |
Current DrawdownCurrent decline from peak | -0.96% | 0.00% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -8.12% | +1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.41% | +0.12% |
Volatility
IWSZ.L vs. SPMD - Volatility Comparison
The current volatility for iShares MSCI World Mid-Cap Equal Weight UCITS ETF (IWSZ.L) is 3.55%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 4.23%. This indicates that IWSZ.L experiences smaller price fluctuations and is considered to be less risky than SPMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWSZ.L | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.55% | 4.23% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 8.91% | 11.36% | -2.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.61% | 15.53% | -3.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 19.70% | -3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 21.18% | -4.65% |
IWSZ.L vs. SPMD - Expense Ratio Comparison
IWSZ.L has a 0.30% expense ratio, which is higher than SPMD's 0.05% expense ratio.
Dividends
IWSZ.L vs. SPMD - Dividend Comparison
IWSZ.L has not paid dividends to shareholders, while SPMD's dividend yield for the trailing twelve months is around 1.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWSZ.L iShares MSCI World Mid-Cap Equal Weight UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.22% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
Frequently Asked Questions
IWSZ.L and SPMD have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPMD is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPMD is cheaper with a 0.05% expense ratio, compared with 0.30% for IWSZ.L.
IWSZ.L tracks MSCI World Mid-Cap Equal Weighted Index, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.30% for IWSZ.L and 0.05% for SPMD.
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