MXWO.L vs. CW8G.L

Last updated Jun 5, 2026

MXWO.L (Invesco MSCI World UCITS ETF) and CW8G.L (Amundi MSCI World UCITS USD) are both Global Equities funds tracking the MSCI ACWI NR USD, from Invesco and Amundi respectively. Both are passively managed. Over the past 10 years, MXWO.L returned 13.12%/yr vs 12.86%/yr for CW8G.L. Their correlation of 0.90 suggests significant overlap in exposure. MXWO.L charges 0.19%/yr vs 0.28%/yr for CW8G.L.

Performance

MXWO.L vs. CW8G.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI World UCITS ETF (MXWO.L) and Amundi MSCI World UCITS USD (CW8G.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MXWO.L is traded in USD, while CW8G.L is traded in GBp. To make them comparable, the CW8G.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with MXWO.L having a 9.99% return and CW8G.L slightly lower at 9.70%. Both investments have delivered pretty close results over the past 10 years, with MXWO.L having a 13.12% annualized return and CW8G.L not far behind at 12.86%.

MXWO.L

• 1D: 0.04%
• 1M: 4.21%
• YTD: 9.99%
• 6M: 11.10%
• 1Y: 26.14%
• 3Y*: 20.86%
• 5Y*: 11.92%
• 10Y*: 13.12%

CW8G.L

• 1D: 0.10%
• 1M: 4.27%
• YTD: 9.70%
• 6M: 10.98%
• 1Y: 25.60%
• 3Y*: 20.39%
• 5Y*: 11.61%
• 10Y*: 12.86%

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

MXWO.L vs. CW8G.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXWO.L Invesco MSCI World UCITS ETF	9.99%	20.83%	19.19%	24.56%	-18.08%	22.12%	16.27%	27.41%	-9.08%	22.79%
CW8G.L Amundi MSCI World UCITS USD	9.70%	20.57%	18.93%	23.48%	-18.24%	22.46%	15.31%	28.54%	-9.85%	22.33%

Correlation

The correlation between MXWO.L and CW8G.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 (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016	0.90

The correlation between MXWO.L and CW8G.L has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

MXWO.L vs. CW8G.L - Sectors Allocation Comparison

Sectors	MXWO.L	CW8G.L
Technology	28.3%	28.3%
Financial Services	15.7%	15.7%
Industrials	11.4%	11.4%
Consumer Cyclical	9.3%	9.3%
Communication Services	9.3%	9.3%
Healthcare	8.8%	8.8%
Consumer Defensive	5.2%	5.2%
Energy	4.2%	4.2%
Basic Materials	3.3%	3.3%
Utilities	2.7%	2.7%
Real Estate	1.9%	1.9%

Return for Risk

MXWO.L vs. CW8G.L — Risk / Return Rank

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

MXWO.L

MXWO.L Risk / Return Rank: 69
MXWO.L Sharpe Ratio Rank: 68
MXWO.L Sortino Ratio Rank: 74
MXWO.L Omega Ratio Rank: 68
MXWO.L Calmar Ratio Rank: 64
MXWO.L Martin Ratio Rank: 72

CW8G.L

CW8G.L Risk / Return Rank: 83
CW8G.L Sharpe Ratio Rank: 85
CW8G.L Sortino Ratio Rank: 84
CW8G.L Omega Ratio Rank: 85
CW8G.L Calmar Ratio Rank: 79
CW8G.L Martin Ratio Rank: 81

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.

MXWO.L vs. CW8G.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWO.L) and Amundi MSCI World UCITS USD (CW8G.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.

	MXWO.L	CW8G.L	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.31	-0.12
Sortino ratio: Return per unit of downside risk	3.26	3.38	-0.12
Omega ratio: Gain probability vs. loss probability	1.40	1.41	-0.02
Calmar ratio: Return relative to maximum drawdown	3.12	2.93	+0.19
Martin ratio: Return relative to average drawdown	13.34	12.75	+0.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXWO.L vs. CW8G.L - Sharpe Ratio Comparison

The current MXWO.L Sharpe Ratio is 2.19, which is comparable to the CW8G.L Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of MXWO.L and CW8G.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

	MXWO.L	CW8G.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	2.31	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.76	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.83	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.88	-0.02

Drawdowns

MXWO.L vs. CW8G.L - Drawdown Comparison

The maximum MXWO.L drawdown since its inception was -33.89%, roughly equal to the maximum CW8G.L drawdown of -33.66%. Use the drawdown chart below to compare losses from any high point for MXWO.L and CW8G.L.

Drawdown Indicators

	MXWO.L	CW8G.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.89%	-33.66%	-0.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-8.70%	+0.36%
Max Drawdown (3Y) Largest decline over 3 years	-17.85%	-17.79%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-25.80%	-26.67%	+0.87%
Max Drawdown (10Y) Largest decline over 10 years	-33.89%	-33.66%	-0.23%
Current Drawdown Current decline from peak	-0.45%	-0.46%	+0.01%
Average Drawdown Average peak-to-trough decline	-4.31%	-4.50%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.00%	-0.05%

Volatility

MXWO.L vs. CW8G.L - Volatility Comparison

Invesco MSCI World UCITS ETF (MXWO.L) has a higher volatility of 3.32% compared to Amundi MSCI World UCITS USD (CW8G.L) at 2.78%. This indicates that MXWO.L's price experiences larger fluctuations and is considered to be riskier than CW8G.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXWO.L	CW8G.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	2.78%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	9.15%	8.51%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	11.04%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.75%	15.25%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.93%	15.65%	+0.28%

MXWO.L vs. CW8G.L - Expense Ratio Comparison

MXWO.L has a 0.19% expense ratio, which is lower than CW8G.L's 0.28% expense ratio.

Dividends

MXWO.L vs. CW8G.L - Dividend Comparison

Neither MXWO.L nor CW8G.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MXWO.L and CW8G.L in my portfolio?

MXWO.L and CW8G.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.

Which ETF is better, MXWO.L or CW8G.L?

On fees, MXWO.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MXWO.L or CW8G.L?

MXWO.L is cheaper with a 0.19% expense ratio, compared with 0.28% for CW8G.L.

What is the main difference between MXWO.L and CW8G.L?

Both ETFs track MSCI ACWI NR USD. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.19% for MXWO.L and 0.28% for CW8G.L.