MWEQ.L vs. ISWD.L

Last updated Jun 5, 2026

MWEQ.L (Invesco MSCI World Equal Weight UCITS ETF Acc) and ISWD.L (iShares MSCI World Islamic UCITS ETF USD (Dist)) are both Global Equities funds - MWEQ.L tracks the MSCI World Equal Weighted Net Total Return USD Index while ISWD.L tracks the MSCI World Islamic Index. Both are passively managed. Over the past year, MWEQ.L returned 18.66% vs 37.24% for ISWD.L. A 0.75 correlation means they provide meaningful diversification when combined. MWEQ.L charges 0.20%/yr vs 0.60%/yr for ISWD.L.

Performance

MWEQ.L vs. ISWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) and iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MWEQ.L is traded in USD, while ISWD.L is traded in GBp. To make them comparable, the ISWD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MWEQ.L achieves a 7.98% return, which is significantly lower than ISWD.L's 19.77% return.

MWEQ.L

• 1D: 0.28%
• 1M: 1.26%
• YTD: 7.98%
• 6M: 9.47%
• 1Y: 18.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISWD.L

• 1D: -0.20%
• 1M: 6.79%
• YTD: 19.77%
• 6M: 20.37%
• 1Y: 37.24%
• 3Y*: 18.86%
• 5Y*: 12.48%
• 10Y*: 11.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MWEQ.L vs. ISWD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF Acc	7.98%	21.96%	0.07%
ISWD.L iShares MSCI World Islamic UCITS ETF USD (Dist)	19.77%	20.00%	0.91%

Correlation

The correlation between MWEQ.L and ISWD.L is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.75

The correlation between MWEQ.L and ISWD.L has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.

Return for Risk

MWEQ.L vs. ISWD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MWEQ.L

MWEQ.L Risk / Return Rank: 45
MWEQ.L Sharpe Ratio Rank: 43
MWEQ.L Sortino Ratio Rank: 46
MWEQ.L Omega Ratio Rank: 43
MWEQ.L Calmar Ratio Rank: 44
MWEQ.L Martin Ratio Rank: 50

ISWD.L

ISWD.L Risk / Return Rank: 93
ISWD.L Sharpe Ratio Rank: 93
ISWD.L Sortino Ratio Rank: 93
ISWD.L Omega Ratio Rank: 93
ISWD.L Calmar Ratio Rank: 94
ISWD.L Martin Ratio Rank: 93

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.

MWEQ.L vs. ISWD.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 iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.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	ISWD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.94	-1.43
Sortino ratio: Return per unit of downside risk	2.25	4.14	-1.90
Omega ratio: Gain probability vs. loss probability	1.27	1.51	-0.24
Calmar ratio: Return relative to maximum drawdown	2.15	5.09	-2.94
Martin ratio: Return relative to average drawdown	8.28	18.42	-10.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MWEQ.L vs. ISWD.L - Sharpe Ratio Comparison

The current MWEQ.L Sharpe Ratio is 1.50, which is lower than the ISWD.L Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of MWEQ.L and ISWD.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.

Sharpe Ratios by Period

	MWEQ.L	ISWD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	2.94	-1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.81	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.51	+0.70

Drawdowns

MWEQ.L vs. ISWD.L - Drawdown Comparison

The maximum MWEQ.L drawdown since its inception was -12.95%, smaller than the maximum ISWD.L drawdown of -48.12%. Use the drawdown chart below to compare losses from any high point for MWEQ.L and ISWD.L.

Drawdown Indicators

	MWEQ.L	ISWD.L	Difference
Max Drawdown Largest peak-to-trough decline	-12.95%	-48.12%	+35.17%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-7.30%	-1.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.38%	—
Current Drawdown Current decline from peak	-0.36%	-0.20%	-0.16%
Average Drawdown Average peak-to-trough decline	-1.67%	-4.70%	+3.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.02%	+0.24%

Volatility

MWEQ.L vs. ISWD.L - Volatility Comparison

The current volatility for Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) is 3.27%, while iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L) has a volatility of 4.07%. This indicates that MWEQ.L experiences smaller price fluctuations and is considered to be less risky than ISWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MWEQ.L	ISWD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	4.07%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	9.72%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.44%	12.65%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.08%	15.46%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.08%	15.67%	-1.59%

MWEQ.L vs. ISWD.L - Expense Ratio Comparison

MWEQ.L has a 0.20% expense ratio, which is lower than ISWD.L's 0.60% expense ratio.

Dividends

MWEQ.L vs. ISWD.L - Dividend Comparison

MWEQ.L has not paid dividends to shareholders, while ISWD.L's dividend yield for the trailing twelve months is around 1.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISWD.L iShares MSCI World Islamic UCITS ETF USD (Dist)	1.27%	1.50%	1.74%	1.99%	2.43%	1.98%	1.88%	2.37%	2.39%	2.09%	2.09%	2.62%
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF 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

Can I hold both MWEQ.L and ISWD.L in my portfolio?

MWEQ.L and ISWD.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MWEQ.L or ISWD.L?

On fees, MWEQ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MWEQ.L or ISWD.L?

MWEQ.L is cheaper with a 0.20% expense ratio, compared with 0.60% for ISWD.L.

What is the main difference between MWEQ.L and ISWD.L?

MWEQ.L tracks MSCI World Equal Weighted Net Total Return USD Index, while ISWD.L tracks MSCI World Islamic Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.20% for MWEQ.L and 0.60% for ISWD.L.