MXWO.L vs. MWEQ.L

Last updated Jun 5, 2026

MXWO.L (Invesco MSCI World UCITS ETF) and MWEQ.L (Invesco MSCI World Equal Weight UCITS ETF Acc) are both Global Equities funds from Invesco - MXWO.L tracks the MSCI ACWI NR USD while MWEQ.L tracks the MSCI World Equal Weighted Net Total Return USD Index. Both are passively managed. Over the past year, MXWO.L returned 26.14% vs 18.75% for MWEQ.L. Their correlation of 0.86 suggests significant overlap in exposure. MXWO.L charges 0.19%/yr vs 0.20%/yr for MWEQ.L.

Performance

MXWO.L vs. MWEQ.L - Performance Comparison

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

Returns By Period

In the year-to-date period, MXWO.L achieves a 9.99% return, which is significantly higher than MWEQ.L's 7.98% return.

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%

MWEQ.L

• 1D: 0.28%
• 1M: 2.29%
• YTD: 7.98%
• 6M: 9.38%
• 1Y: 18.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024
MXWO.L Invesco MSCI World UCITS ETF	9.99%	20.83%	4.62%
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF Acc	7.98%	21.96%	0.07%

Correlation

The correlation between MXWO.L and MWEQ.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	0.86

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

Return for Risk

MXWO.L vs. MWEQ.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

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

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. MWEQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWO.L) and Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.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	MWEQ.L	Difference
Sharpe ratio: Return per unit of total volatility	2.19	1.50	+0.69
Sortino ratio: Return per unit of downside risk	3.26	2.25	+1.02
Omega ratio: Gain probability vs. loss probability	1.40	1.27	+0.13
Calmar ratio: Return relative to maximum drawdown	3.12	2.15	+0.97
Martin ratio: Return relative to average drawdown	13.34	8.28	+5.06
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. MWEQ.L - Sharpe Ratio Comparison

The current MXWO.L Sharpe Ratio is 2.19, which is higher than the MWEQ.L Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of MXWO.L and MWEQ.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	MWEQ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	1.50	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.21	-0.36

Drawdowns

MXWO.L vs. MWEQ.L - Drawdown Comparison

The maximum MXWO.L drawdown since its inception was -33.89%, which is greater than MWEQ.L's maximum drawdown of -12.95%. Use the drawdown chart below to compare losses from any high point for MXWO.L and MWEQ.L.

Drawdown Indicators

	MXWO.L	MWEQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.89%	-12.95%	-20.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-8.68%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-17.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.89%	—	—
Current Drawdown Current decline from peak	-0.45%	-0.36%	-0.09%
Average Drawdown Average peak-to-trough decline	-4.31%	-1.67%	-2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.26%	-0.31%

Volatility

MXWO.L vs. MWEQ.L - Volatility Comparison

Invesco MSCI World UCITS ETF (MXWO.L) and Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) have volatilities of 3.32% and 3.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXWO.L	MWEQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	3.27%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	9.15%	9.98%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	12.44%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.75%	14.08%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.93%	14.08%	+1.85%

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

MXWO.L has a 0.19% expense ratio, which is lower than MWEQ.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MXWO.L vs. MWEQ.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

MXWO.L and MWEQ.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 MWEQ.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 MWEQ.L?

MXWO.L is cheaper with a 0.19% expense ratio, compared with 0.20% for MWEQ.L.

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

MXWO.L tracks MSCI ACWI NR USD, while MWEQ.L tracks MSCI World Equal Weighted Net Total Return USD Index. Their fees differ too: 0.19% for MXWO.L and 0.20% for MWEQ.L.