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IWSZ.L vs. WLDS.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWSZ.L vs. WLDS.L

Last updated Jun 5, 2026

IWSZ.L (iShares MSCI World Mid-Cap Equal Weight UCITS ETF) and WLDS.L (iShares MSCI World Small Cap UCITS ETF) are both exchange-traded funds - IWSZ.L is a Mid Cap Blend Equities fund tracking the MSCI World Mid-Cap Equal Weighted Index, while WLDS.L is a Small Cap Blend Equities fund tracking the MSCI World Small Cap Inde. Both are passively managed. Over the past 5 years, IWSZ.L returned 5.43%/yr vs 7.09%/yr for WLDS.L. Their correlation of 0.89 suggests significant overlap in exposure. IWSZ.L charges 0.30%/yr vs 0.35%/yr for WLDS.L.

Performance

IWSZ.L vs. WLDS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI World Mid-Cap Equal Weight UCITS ETF (IWSZ.L) and iShares MSCI World Small Cap UCITS ETF (WLDS.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IWSZ.L is traded in USD, while WLDS.L is traded in GBP. To make them comparable, the WLDS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IWSZ.L achieves a 6.23% return, which is significantly lower than WLDS.L's 14.30% 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%

WLDS.L

1D
0.74%
1M
3.36%
YTD
14.30%
6M
15.80%
1Y
32.48%
3Y*
17.99%
5Y*
7.09%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWSZ.L vs. WLDS.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
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%-12.83%
WLDS.L
iShares MSCI World Small Cap UCITS ETF		14.30%20.30%6.77%17.09%-18.63%15.66%15.99%25.24%-12.82%

Correlation

The correlation between IWSZ.L and WLDS.L is 0.78, 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

0.78

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

0.86

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

0.89

Correlation (All Time)
Calculated using the full available price history since Apr 3, 2018

0.89

The correlation between IWSZ.L and WLDS.L shifts across timeframes, from 0.78 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

IWSZ.L vs. WLDS.L - Sectors Allocation Comparison

Sectors
IWSZ.L
WLDS.L

Industrials

21.7%
20.5%

Financial Services

14.1%
13.3%

Technology

11.5%
15.2%

Consumer Cyclical

9.8%
10.6%

Healthcare

7.2%
9.5%

Basic Materials

7.1%
8.2%

Real Estate

6.9%
8.0%

Consumer Defensive

6.6%
3.9%

Utilities

6.5%
2.8%

Communication Services

4.7%
3.0%

Energy

3.8%
5.0%

Industrials

IWSZ.L
21.7%
WLDS.L
20.5%

Financial Services

IWSZ.L
14.1%
WLDS.L
13.3%

Technology

IWSZ.L
11.5%
WLDS.L
15.2%

Consumer Cyclical

IWSZ.L
9.8%
WLDS.L
10.6%

Healthcare

IWSZ.L
7.2%
WLDS.L
9.5%

Basic Materials

IWSZ.L
7.1%
WLDS.L
8.2%

Real Estate

IWSZ.L
6.9%
WLDS.L
8.0%

Consumer Defensive

IWSZ.L
6.6%
WLDS.L
3.9%

Utilities

IWSZ.L
6.5%
WLDS.L
2.8%

Communication Services

IWSZ.L
4.7%
WLDS.L
3.0%

Energy

IWSZ.L
3.8%
WLDS.L
5.0%

Compare stocks, funds, or ETFs

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iShares MSCI World Mid-Cap Equal Weight UCITS ETF

iShares MSCI World Small Cap UCITS ETF

Often compared with IWSZ.L:
IWSZ.L vs. IWMO.LIWSZ.L vs. JEPQ.LIWSZ.L vs. IWQU.LIWSZ.L vs. IWVL.LIWSZ.L vs. SGLN.LIWSZ.L vs. CNDX.LIWSZ.L vs. MVOL.L
Often compared with WLDS.L:
WLDS.L vs. WOSC.LWLDS.L vs. AVSG.LWLDS.L vs. URTHWLDS.L vs. EQGB.LWLDS.L vs. EXUS.LWLDS.L vs. VUAA.LWLDS.L vs. IYW

Return for Risk

IWSZ.L vs. WLDS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWSZ.L
IWSZ.L Risk / Return Rank: 4141
Overall Rank
IWSZ.L Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
IWSZ.L Sortino Ratio Rank: 4444
Sortino Ratio Rank
IWSZ.L Omega Ratio Rank: 4141
Omega Ratio Rank
IWSZ.L Calmar Ratio Rank: 3636
Calmar Ratio Rank
IWSZ.L Martin Ratio Rank: 4242
Martin Ratio Rank
WLDS.L
WLDS.L Risk / Return Rank: 8383
Overall Rank
WLDS.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
WLDS.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
WLDS.L Omega Ratio Rank: 8080
Omega Ratio Rank
WLDS.L Calmar Ratio Rank: 8383
Calmar Ratio Rank
WLDS.L Martin Ratio Rank: 8282
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.

IWSZ.L vs. WLDS.L - 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 iShares MSCI World Small Cap UCITS ETF (WLDS.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.

IWSZ.LWLDS.LDifference
Sharpe ratioReturn per unit of total volatility
1.45
2.29

-0.84

Sortino ratioReturn per unit of downside risk
2.16
3.44

-1.28

Omega ratioGain probability vs. loss probability

1.26

1.39

-0.13

Calmar ratioReturn relative to maximum drawdown

1.76

3.56

-1.80

Martin ratioReturn relative to average drawdown

6.67

13.00

-6.34

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

IWSZ.L vs. WLDS.L - Sharpe Ratio Comparison

The current IWSZ.L Sharpe Ratio is 1.45, which is lower than the WLDS.L Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of IWSZ.L and WLDS.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

IWSZ.LWLDS.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.45

2.29

-0.84

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.34

0.39

-0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.47

-0.01

Drawdowns

IWSZ.L vs. WLDS.L - Drawdown Comparison

The maximum IWSZ.L drawdown since its inception was -38.11%, smaller than the maximum WLDS.L drawdown of -40.96%. Use the drawdown chart below to compare losses from any high point for IWSZ.L and WLDS.L.

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Drawdown Indicators

IWSZ.LWLDS.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.11%

-40.96%

+2.85%

Max Drawdown (1Y)

Largest decline over 1 year

-9.59%

-9.09%

-0.50%

Max Drawdown (3Y)

Largest decline over 3 years

-14.12%

-20.03%

+5.91%

Max Drawdown (5Y)

Largest decline over 5 years

-30.13%

-30.96%

+0.83%

Max Drawdown (10Y)

Largest decline over 10 years

-38.11%

—

—

Current Drawdown

Current decline from peak

-0.96%

0.00%

-0.96%

Average Drawdown

Average peak-to-trough decline

-6.93%

-8.83%

+1.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.53%

2.49%

+0.04%

Volatility

IWSZ.L vs. WLDS.L - Volatility Comparison

The current volatility for iShares MSCI World Mid-Cap Equal Weight UCITS ETF (IWSZ.L) is 3.55%, while iShares MSCI World Small Cap UCITS ETF (WLDS.L) has a volatility of 4.07%. This indicates that IWSZ.L experiences smaller price fluctuations and is considered to be less risky than WLDS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWSZ.LWLDS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.55%

4.07%

-0.52%

Volatility (6M)

Calculated over the trailing 6-month period

8.91%

10.53%

-1.62%

Volatility (1Y)

Calculated over the trailing 1-year period

11.61%

14.09%

-2.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.01%

17.97%

-1.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.53%

19.38%

-2.85%

IWSZ.L vs. WLDS.L - Expense Ratio Comparison

IWSZ.L has a 0.30% expense ratio, which is lower than WLDS.L's 0.35% expense ratio.

Dividends

IWSZ.L vs. WLDS.L - Dividend Comparison

Neither IWSZ.L nor WLDS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

IWSZ.L and WLDS.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IWSZ.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IWSZ.L is cheaper with a 0.30% expense ratio, compared with 0.35% for WLDS.L.

IWSZ.L is categorized as Mid Cap Blend Equities, while WLDS.L is Small Cap Blend Equities. IWSZ.L tracks MSCI World Mid-Cap Equal Weighted Index, while WLDS.L tracks MSCI World Small Cap Inde. Their fees differ too: 0.30% for IWSZ.L and 0.35% for WLDS.L.

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