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MXWO.L vs. IWRD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MXWO.L vs. IWRD.L

Last updated Jun 5, 2026

MXWO.L (Invesco MSCI World UCITS ETF) and IWRD.L (iShares MSCI World UCITS) are both Global Equities funds tracking the MSCI ACWI NR USD, from Invesco and iShares respectively. Both are passively managed. Over the past 10 years, MXWO.L returned 13.12%/yr vs 12.76%/yr for IWRD.L. Their correlation of 0.86 suggests significant overlap in exposure. MXWO.L charges 0.19%/yr vs 0.50%/yr for IWRD.L.

Performance

MXWO.L vs. IWRD.L - Performance Comparison

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

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Different Trading Currencies

MXWO.L is traded in USD, while IWRD.L is traded in GBp. To make them comparable, the IWRD.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 IWRD.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 IWRD.L not far behind at 12.76%.

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%

IWRD.L

1D
0.15%
1M
4.15%
YTD
9.70%
6M
10.99%
1Y
25.65%
3Y*
20.34%
5Y*
11.53%
10Y*
12.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%
IWRD.L
iShares MSCI World UCITS		9.70%20.82%18.61%23.52%-18.39%22.10%15.22%27.69%-9.46%22.28%

Correlation

The correlation between MXWO.L and IWRD.L is 0.92, 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

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (5Y)
Calculated over the trailing 5-year period

0.93

Correlation (10Y)
Calculated over the trailing 10-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Nov 23, 2011

0.86

The correlation between MXWO.L and IWRD.L has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

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

Sectors
MXWO.L
IWRD.L

Technology

28.3%
30.0%

Financial Services

15.7%
15.4%

Industrials

11.4%
10.8%

Consumer Cyclical

9.3%
9.0%

Communication Services

9.3%
9.2%

Healthcare

8.8%
8.7%

Consumer Defensive

5.2%
5.3%

Energy

4.2%
4.2%

Basic Materials

3.3%
3.2%

Utilities

2.7%
2.5%

Real Estate

1.9%
1.8%

Technology

MXWO.L
28.3%
IWRD.L
30.0%

Financial Services

MXWO.L
15.7%
IWRD.L
15.4%

Industrials

MXWO.L
11.4%
IWRD.L
10.8%

Consumer Cyclical

MXWO.L
9.3%
IWRD.L
9.0%

Communication Services

MXWO.L
9.3%
IWRD.L
9.2%

Healthcare

MXWO.L
8.8%
IWRD.L
8.7%

Consumer Defensive

MXWO.L
5.2%
IWRD.L
5.3%

Energy

MXWO.L
4.2%
IWRD.L
4.2%

Basic Materials

MXWO.L
3.3%
IWRD.L
3.2%

Utilities

MXWO.L
2.7%
IWRD.L
2.5%

Real Estate

MXWO.L
1.9%
IWRD.L
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco MSCI World UCITS ETF

iShares MSCI World UCITS

Often compared with MXWO.L:
MXWO.L vs. MXWS.LMXWO.L vs. SSAC.LMXWO.L vs. IWDA.LMXWO.L vs. URTHMXWO.L vs. VTMXWO.L vs. ^NDXMXWO.L vs. SPY5.L
Often compared with IWRD.L:
IWRD.L vs. SWRD.ASIWRD.L vs. URTHIWRD.L vs. VWRL.LIWRD.L vs. HMWO.LIWRD.L vs. ACNIWRD.L vs. VTIWRD.L vs. DEM.L

Return for Risk

MXWO.L vs. IWRD.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: 6969
Overall Rank
MXWO.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
MXWO.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
MXWO.L Omega Ratio Rank: 6868
Omega Ratio Rank
MXWO.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
MXWO.L Martin Ratio Rank: 7272
Martin Ratio Rank
IWRD.L
IWRD.L Risk / Return Rank: 8181
Overall Rank
IWRD.L Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
IWRD.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
IWRD.L Omega Ratio Rank: 8383
Omega Ratio Rank
IWRD.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
IWRD.L Martin Ratio Rank: 8282
Martin Ratio Rank
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. IWRD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWO.L) and iShares MSCI World UCITS (IWRD.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.LIWRD.LDifference
Sharpe ratioReturn per unit of total volatility
2.19
2.23

-0.04

Sortino ratioReturn per unit of downside risk
3.26
3.27

-0.01

Omega ratioGain probability vs. loss probability

1.40

1.40

0.00

Calmar ratioReturn relative to maximum drawdown

3.12

2.97

+0.15

Martin ratioReturn relative to average drawdown

13.34

13.02

+0.32

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. IWRD.L - Sharpe Ratio Comparison

The current MXWO.L Sharpe Ratio is 2.19, which is comparable to the IWRD.L Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of MXWO.L and IWRD.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.

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Sharpe Ratios by Period

MXWO.LIWRD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.19

2.23

-0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.75

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.82

0.81

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.86

0.38

+0.48

Drawdowns

MXWO.L vs. IWRD.L - Drawdown Comparison

The maximum MXWO.L drawdown since its inception was -33.89%, smaller than the maximum IWRD.L drawdown of -56.89%. Use the drawdown chart below to compare losses from any high point for MXWO.L and IWRD.L.

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Drawdown Indicators

MXWO.LIWRD.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.89%

-56.89%

+23.00%

Max Drawdown (1Y)

Largest decline over 1 year

-8.34%

-8.60%

+0.26%

Max Drawdown (3Y)

Largest decline over 3 years

-17.85%

-17.78%

-0.07%

Max Drawdown (5Y)

Largest decline over 5 years

-25.80%

-26.73%

+0.93%

Max Drawdown (10Y)

Largest decline over 10 years

-33.89%

-33.37%

-0.52%

Current Drawdown

Current decline from peak

-0.45%

-0.49%

+0.04%

Average Drawdown

Average peak-to-trough decline

-4.31%

-9.70%

+5.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

1.97%

-0.02%

Volatility

MXWO.L vs. IWRD.L - Volatility Comparison

Invesco MSCI World UCITS ETF (MXWO.L) has a higher volatility of 3.32% compared to iShares MSCI World UCITS (IWRD.L) at 2.83%. This indicates that MXWO.L's price experiences larger fluctuations and is considered to be riskier than IWRD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MXWO.LIWRD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.32%

2.83%

+0.49%

Volatility (6M)

Calculated over the trailing 6-month period

9.15%

8.53%

+0.62%

Volatility (1Y)

Calculated over the trailing 1-year period

11.88%

11.46%

+0.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.75%

15.31%

+0.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.93%

15.75%

+0.18%

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

MXWO.L has a 0.19% expense ratio, which is lower than IWRD.L's 0.50% expense ratio.

Dividends

MXWO.L vs. IWRD.L - Dividend Comparison

MXWO.L has not paid dividends to shareholders, while IWRD.L's dividend yield for the trailing twelve months is around 0.85%.

PositionTTM20252024202320222021202020192018201720162015
IWRD.L
iShares MSCI World UCITS		0.85%0.93%1.06%1.31%1.44%1.03%1.21%1.66%1.81%1.64%1.61%1.78%
MXWO.L
Invesco MSCI World UCITS ETF		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

With a correlation of 0.92, MXWO.L and IWRD.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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.

MXWO.L is cheaper with a 0.19% expense ratio, compared with 0.50% for IWRD.L.

Both ETFs track MSCI ACWI NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for MXWO.L and 0.50% for IWRD.L.

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