MSAP.L vs. WRDA.L
MSAP.L (Invesco MSCI Saudi Arabia ETF) and WRDA.L (UBS Core MSCI World UCITS ETF USD Acc) are both Global Equities funds - MSAP.L tracks the Invesco MSCI Saudi Arabia ETF while WRDA.L tracks the MSCI World Index. Both are passively managed. Over the past year, MSAP.L returned 1.98% vs 22.06% for WRDA.L. At a 0.32 correlation, their price movements are largely independent. MSAP.L charges 0.50%/yr vs 0.06%/yr for WRDA.L.
Performance
MSAP.L vs. WRDA.L - Performance Comparison
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Returns By Period
In the year-to-date period, MSAP.L achieves a 3.41% return, which is significantly lower than WRDA.L's 10.72% return.
MSAP.L
- 1D
- -0.28%
- 1M
- -3.59%
- 6M
- -2.38%
- YTD
- 3.41%
- 1Y
- 1.98%
- 3Y*
- -1.62%
- 5Y*
- 2.40%
- 10Y*
- —
WRDA.L
- 1D
- 0.00%
- 1M
- 0.47%
- 6M
- 9.40%
- YTD
- 10.72%
- 1Y
- 22.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSAP.L vs. WRDA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MSAP.L Invesco MSCI Saudi Arabia ETF | 3.41% | -12.17% | 2.43% |
WRDA.L UBS Core MSCI World UCITS ETF USD Acc | 10.72% | 12.77% | 20.02% |
Correlation
The correlation between MSAP.L and WRDA.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | 0.32 |
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Return for Risk
MSAP.L vs. WRDA.L — Risk / Return Rank
MSAP.L
WRDA.L
MSAP.L vs. WRDA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Saudi Arabia ETF (MSAP.L) and UBS Core MSCI World UCITS ETF USD Acc (WRDA.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.
| MSAP.L | WRDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.37 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 0.81 | -0.58 |
| Martin ratioReturn relative to average drawdown | 0.50 | 1.18 | -0.67 |
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Drawdowns
MSAP.L vs. WRDA.L - Drawdown Comparison
The maximum MSAP.L drawdown since its inception was -46.44%, which is greater than WRDA.L's maximum drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for MSAP.L and WRDA.L.
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Drawdown Indicators
| MSAP.L | WRDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.44% | -27.39% | -19.05% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -27.39% | +15.15% |
Max Drawdown (3Y)Largest decline over 3 years | -20.20% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.35% | — | — |
Current DrawdownCurrent decline from peak | -25.14% | -15.98% | -9.16% |
Average DrawdownAverage peak-to-trough decline | -19.39% | -8.18% | -11.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.44% | 18.75% | -13.31% |
Volatility
MSAP.L vs. WRDA.L - Volatility Comparison
Invesco MSCI Saudi Arabia ETF (MSAP.L) has a higher volatility of 3.63% compared to UBS Core MSCI World UCITS ETF USD Acc (WRDA.L) at 2.72%. This indicates that MSAP.L's price experiences larger fluctuations and is considered to be riskier than WRDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSAP.L | WRDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.63% | 2.72% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 7.90% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.67% | 43.22% | -28.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.68% | 29.46% | -13.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.32% | 29.46% | -9.14% |
MSAP.L vs. WRDA.L - Expense Ratio Comparison
MSAP.L has a 0.50% expense ratio, which is higher than WRDA.L's 0.06% expense ratio.
Dividends
MSAP.L vs. WRDA.L - Dividend Comparison
Neither MSAP.L nor WRDA.L has paid dividends to shareholders.
Frequently Asked Questions
MSAP.L and WRDA.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WRDA.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WRDA.L is cheaper with a 0.06% expense ratio, compared with 0.50% for MSAP.L.
MSAP.L tracks Invesco MSCI Saudi Arabia ETF, while WRDA.L tracks MSCI World Index. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.50% for MSAP.L and 0.06% for WRDA.L.
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