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

LTAM.L vs. SWDA.L

Last updated Jun 4, 2026

LTAM.L (iShares MSCI EM Latin America UCITS ETF USD (Dist)) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - LTAM.L is a Latin America Equities fund tracking the MSCI EM Latin America NR USD, while SWDA.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, LTAM.L returned 8.60%/yr vs 14.05%/yr for SWDA.L. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

LTAM.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.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

In the year-to-date period, LTAM.L achieves a 11.27% return, which is significantly higher than SWDA.L's 9.92% return. Over the past 10 years, LTAM.L has underperformed SWDA.L with an annualized return of 8.60%, while SWDA.L has yielded a comparatively higher 14.05% annualized return.

LTAM.L

1D
-2.23%
1M
-5.39%
YTD
11.27%
6M
9.11%
1Y
38.95%
3Y*
11.19%
5Y*
9.88%
10Y*
8.60%

SWDA.L

1D
-0.25%
1M
5.16%
YTD
9.92%
6M
10.29%
1Y
27.16%
3Y*
17.83%
5Y*
13.02%
10Y*
14.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
LTAM.L
iShares MSCI EM Latin America UCITS ETF USD (Dist)		11.27%43.14%-25.65%26.15%20.89%-8.55%-14.15%9.44%-0.18%11.17%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		9.92%12.64%21.11%17.59%-8.33%23.64%12.25%23.03%-3.78%11.78%

Correlation

The correlation between LTAM.L and SWDA.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.43

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

0.43

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

0.51

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

0.52

The correlation between LTAM.L and SWDA.L has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

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

Sectors
LTAM.L
SWDA.L

Financial Services

29.9%
15.4%

Basic Materials

21.5%
3.2%

Industrials

10.9%
10.9%

Energy

10.6%
4.2%

Consumer Defensive

10.5%
5.2%

Utilities

7.8%
2.5%

Communication Services

3.9%
9.2%

Consumer Cyclical

1.6%
9.0%

Real Estate

1.6%
1.8%

Healthcare

1.2%
8.7%

Technology

0.7%
30.0%

Financial Services

LTAM.L
29.9%
SWDA.L
15.4%

Basic Materials

LTAM.L
21.5%
SWDA.L
3.2%

Industrials

LTAM.L
10.9%
SWDA.L
10.9%

Energy

LTAM.L
10.6%
SWDA.L
4.2%

Consumer Defensive

LTAM.L
10.5%
SWDA.L
5.2%

Utilities

LTAM.L
7.8%
SWDA.L
2.5%

Communication Services

LTAM.L
3.9%
SWDA.L
9.2%

Consumer Cyclical

LTAM.L
1.6%
SWDA.L
9.0%

Real Estate

LTAM.L
1.6%
SWDA.L
1.8%

Healthcare

LTAM.L
1.2%
SWDA.L
8.7%

Technology

LTAM.L
0.7%
SWDA.L
30.0%

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iShares MSCI EM Latin America UCITS ETF USD (Dist)

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with LTAM.L:
LTAM.L vs. ALAG.LLTAM.L vs. LTAM.ASLTAM.L vs. EWZLTAM.L vs. VUAG.LLTAM.L vs. VFEG.LLTAM.L vs. EMIM.LLTAM.L vs. ALAU.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

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LTAM.L
LTAM.L Risk / Return Rank: 6464
Overall Rank
LTAM.L Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
LTAM.L Sortino Ratio Rank: 6262
Sortino Ratio Rank
LTAM.L Omega Ratio Rank: 6161
Omega Ratio Rank
LTAM.L Calmar Ratio Rank: 7171
Calmar Ratio Rank
LTAM.L Martin Ratio Rank: 6060
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8181
Overall Rank
SWDA.L Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8282
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8181
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.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.

LTAM.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
2.19
2.66

-0.46

Sortino ratioReturn per unit of downside risk
2.90
3.68

-0.78

Omega ratioGain probability vs. loss probability

1.37

1.51

-0.13

Calmar ratioReturn relative to maximum drawdown

3.57

4.13

-0.56

Martin ratioReturn relative to average drawdown

10.68

16.50

-5.82

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

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

The current LTAM.L Sharpe Ratio is 2.19, which is comparable to the SWDA.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of LTAM.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

LTAM.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.19

2.66

-0.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.48

0.98

-0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

0.97

-0.62

Sharpe Ratio (All Time)

Calculated using the full available price history

0.13

0.88

-0.75

Drawdowns

LTAM.L vs. SWDA.L - Drawdown Comparison

The maximum LTAM.L drawdown since its inception was -58.47%, 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 LTAM.L and SWDA.L.

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Drawdown Indicators

LTAM.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-58.47%

-25.58%

-32.89%

Max Drawdown (1Y)

Largest decline over 1 year

-10.85%

-6.55%

-4.30%

Max Drawdown (3Y)

Largest decline over 3 years

-26.09%

-18.50%

-7.59%

Max Drawdown (5Y)

Largest decline over 5 years

-26.09%

-18.50%

-7.59%

Max Drawdown (10Y)

Largest decline over 10 years

-48.10%

-25.58%

-22.52%

Current Drawdown

Current decline from peak

-10.85%

-0.25%

-10.60%

Average Drawdown

Average peak-to-trough decline

-20.19%

-3.49%

-16.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.64%

1.64%

+2.00%

Volatility

LTAM.L vs. SWDA.L - Volatility Comparison

iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.L) has a higher volatility of 5.31% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.52%. This indicates that LTAM.L's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LTAM.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.31%

2.52%

+2.79%

Volatility (6M)

Calculated over the trailing 6-month period

14.94%

7.30%

+7.64%

Volatility (1Y)

Calculated over the trailing 1-year period

17.68%

10.23%

+7.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.43%

13.30%

+7.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.91%

14.50%

+10.41%

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

Both LTAM.L and SWDA.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

LTAM.L vs. SWDA.L - Dividend Comparison

LTAM.L's dividend yield for the trailing twelve months is around 3.51%, while SWDA.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
LTAM.L
iShares MSCI EM Latin America UCITS ETF USD (Dist)		3.51%3.61%5.69%4.33%6.86%3.17%1.82%2.38%2.11%1.52%1.32%2.89%
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

LTAM.L and SWDA.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

LTAM.L and SWDA.L have the same expense ratio: 0.20% per year.

LTAM.L is categorized as Latin America Equities, while SWDA.L is Global Equities. LTAM.L tracks MSCI EM Latin America NR USD, while SWDA.L tracks MSCI ACWI NR USD.

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