MWEQ.L vs. FWRA.L
MWEQ.L (Invesco MSCI World Equal Weight UCITS ETF Acc) and FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) are both Global Equities funds from Invesco - MWEQ.L tracks the MSCI World Equal Weighted Net Total Return USD Index while FWRA.L tracks the FTSE All-World Index. Both are passively managed. Over the past year, MWEQ.L returned 18.66% vs 28.36% for FWRA.L. Their correlation of 0.85 suggests significant overlap in exposure. MWEQ.L charges 0.20%/yr vs 0.15%/yr for FWRA.L.
Performance
MWEQ.L vs. FWRA.L - Performance Comparison
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Returns By Period
In the year-to-date period, MWEQ.L achieves a 7.98% return, which is significantly lower than FWRA.L's 11.59% return.
MWEQ.L
- 1D
- 0.28%
- 1M
- 1.26%
- YTD
- 7.98%
- 6M
- 9.47%
- 1Y
- 18.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FWRA.L
- 1D
- -0.13%
- 1M
- 2.52%
- YTD
- 11.59%
- 6M
- 12.75%
- 1Y
- 28.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MWEQ.L vs. FWRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF Acc | 7.98% | 21.96% | 0.07% |
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation | 11.59% | 22.37% | 4.04% |
Correlation
The correlation between MWEQ.L and FWRA.L is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.85 |
The correlation between MWEQ.L and FWRA.L has been stable across timeframes, ranging from 0.85 to 0.86 - a consistent structural relationship.
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Return for Risk
MWEQ.L vs. FWRA.L — Risk / Return Rank
MWEQ.L
FWRA.L
MWEQ.L vs. FWRA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) and Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.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.
| MWEQ.L | FWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.43 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 3.27 | -1.12 |
| Martin ratioReturn relative to average drawdown | 8.28 | 13.70 | -5.42 |
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
| MWEQ.L | FWRA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 2.32 | -0.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.21 | 1.56 | -0.35 |
Drawdowns
MWEQ.L vs. FWRA.L - Drawdown Comparison
The maximum MWEQ.L drawdown since its inception was -12.95%, smaller than the maximum FWRA.L drawdown of -16.60%. Use the drawdown chart below to compare losses from any high point for MWEQ.L and FWRA.L.
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Drawdown Indicators
| MWEQ.L | FWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.95% | -16.60% | +3.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -8.74% | +0.06% |
Current DrawdownCurrent decline from peak | -0.36% | -0.77% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -1.67% | -1.93% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 2.09% | +0.17% |
Volatility
MWEQ.L vs. FWRA.L - Volatility Comparison
The current volatility for Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) is 3.27%, while Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) has a volatility of 3.80%. This indicates that MWEQ.L experiences smaller price fluctuations and is considered to be less risky than FWRA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MWEQ.L | FWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 3.80% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 9.86% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.44% | 12.32% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.08% | 13.52% | +0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.08% | 13.52% | +0.56% |
MWEQ.L vs. FWRA.L - Expense Ratio Comparison
MWEQ.L has a 0.20% expense ratio, which is higher than FWRA.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MWEQ.L vs. FWRA.L - Dividend Comparison
Neither MWEQ.L nor FWRA.L has paid dividends to shareholders.
Frequently Asked Questions
MWEQ.L and FWRA.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FWRA.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FWRA.L is cheaper with a 0.15% expense ratio, compared with 0.20% for MWEQ.L.
MWEQ.L tracks MSCI World Equal Weighted Net Total Return USD Index, while FWRA.L tracks FTSE All-World Index. Their fees differ too: 0.20% for MWEQ.L and 0.15% for FWRA.L.
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