MKUW.L vs. FWRG.L
MKUW.L (Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc) and FWRG.L (Invesco FTSE All-World UCITS ETF Acc) are both exchange-traded funds - MKUW.L is a Technology Equities fund tracking the Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc, while FWRG.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 3 years, MKUW.L returned 8.26%/yr vs 17.95%/yr for FWRG.L. At a 0.24 correlation, their price movements are largely independent. MKUW.L charges 0.50%/yr vs 0.15%/yr for FWRG.L.
Performance
MKUW.L vs. FWRG.L - Performance Comparison
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Returns By Period
In the year-to-date period, MKUW.L achieves a 0.89% return, which is significantly lower than FWRG.L's 10.88% return.
MKUW.L
- 1D
- 1.09%
- 1M
- -1.83%
- 6M
- 1.55%
- YTD
- 0.89%
- 1Y
- 4.11%
- 3Y*
- 8.26%
- 5Y*
- 7.35%
- 10Y*
- —
FWRG.L
- 1D
- -0.63%
- 1M
- -1.13%
- 6M
- 9.15%
- YTD
- 10.88%
- 1Y
- 22.81%
- 3Y*
- 17.95%
- 5Y*
- —
- 10Y*
- —
MKUW.L vs. FWRG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MKUW.L Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc | 0.89% | 25.35% | 9.15% | -3.93% |
FWRG.L Invesco FTSE All-World UCITS ETF Acc | 10.88% | 13.84% | 20.11% | 8,531.38% |
Correlation
The correlation between MKUW.L and FWRG.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.24 |
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Return for Risk
MKUW.L vs. FWRG.L — Risk / Return Rank
MKUW.L
FWRG.L
MKUW.L vs. FWRG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L) and Invesco FTSE All-World UCITS ETF Acc (FWRG.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MKUW.L | FWRG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.39 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 3.18 | -2.48 |
| Martin ratioReturn relative to average drawdown | 1.63 | 12.26 | -10.64 |
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Drawdowns
MKUW.L vs. FWRG.L - Drawdown Comparison
The maximum MKUW.L drawdown since its inception was -37.76%, which is greater than FWRG.L's maximum drawdown of -18.87%. Use the drawdown chart below to compare losses from any high point for MKUW.L and FWRG.L.
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Drawdown Indicators
| MKUW.L | FWRG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.76% | -18.87% | -18.89% |
Max Drawdown (1Y)Largest decline over 1 year | -7.47% | -7.14% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -14.16% | -18.87% | +4.71% |
Max Drawdown (5Y)Largest decline over 5 years | -25.13% | — | — |
Current DrawdownCurrent decline from peak | -2.89% | -2.11% | -0.78% |
Average DrawdownAverage peak-to-trough decline | -9.42% | -2.23% | -7.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 1.86% | +1.38% |
Volatility
MKUW.L vs. FWRG.L - Volatility Comparison
The current volatility for Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L) is 2.12%, while Invesco FTSE All-World UCITS ETF Acc (FWRG.L) has a volatility of 3.13%. This indicates that MKUW.L experiences smaller price fluctuations and is considered to be less risky than FWRG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MKUW.L | FWRG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 3.13% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 8.52% | -0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.37% | 10.92% | -0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.77% | 4,417.24% | -4,404.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.50% | 4,417.24% | -4,400.74% |
MKUW.L vs. FWRG.L - Expense Ratio Comparison
MKUW.L has a 0.50% expense ratio, which is higher than FWRG.L's 0.15% expense ratio.
Dividends
MKUW.L vs. FWRG.L - Dividend Comparison
Neither MKUW.L nor FWRG.L has paid dividends to shareholders.
Frequently Asked Questions
MKUW.L and FWRG.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FWRG.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FWRG.L is cheaper with a 0.15% expense ratio, compared with 0.50% for MKUW.L.
MKUW.L is categorized as Technology Equities, while FWRG.L is Global Equities. MKUW.L tracks Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc, while FWRG.L tracks FTSE All-World Index. Their fees differ too: 0.50% for MKUW.L and 0.15% for FWRG.L.
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