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

MXWO.L vs. VOO

Last updated Jun 5, 2026

MXWO.L (Invesco MSCI World UCITS ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - MXWO.L is a Global Equities fund tracking the MSCI ACWI NR USD, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, MXWO.L returned 13.12%/yr vs 15.55%/yr for VOO. A 0.55 correlation means they provide meaningful diversification when combined. MXWO.L charges 0.19%/yr vs 0.03%/yr for VOO.

Performance

MXWO.L vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI World UCITS ETF (MXWO.L) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MXWO.L achieves a 9.99% return, which is significantly lower than VOO's 11.34% return. Over the past 10 years, MXWO.L has underperformed VOO with an annualized return of 13.12%, while VOO has yielded a comparatively higher 15.55% annualized 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%

VOO

1D
0.39%
1M
4.62%
YTD
11.34%
6M
11.27%
1Y
28.62%
3Y*
22.68%
5Y*
13.98%
10Y*
15.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MXWO.L vs. VOO - 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%
VOO
Vanguard S&P 500 ETF		11.34%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between MXWO.L and VOO is 0.67, 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

0.67

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

0.58

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

0.58

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

0.58

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

0.55

The correlation between MXWO.L and VOO shifts across timeframes, from 0.55 (all time) to 0.67 (1 year), reflecting how their relationship changes across market environments.

MXWO.L vs. VOO - Sectors Allocation Comparison

Sectors
MXWO.L
VOO

Technology

28.3%
35.7%

Financial Services

15.7%
11.6%

Industrials

11.4%
8.3%

Consumer Cyclical

9.3%
10.2%

Communication Services

9.3%
11.3%

Healthcare

8.8%
8.5%

Consumer Defensive

5.2%
4.9%

Energy

4.2%
3.5%

Basic Materials

3.3%
1.8%

Utilities

2.7%
2.4%

Real Estate

1.9%
1.9%

Technology

MXWO.L
28.3%
VOO
35.7%

Financial Services

MXWO.L
15.7%
VOO
11.6%

Industrials

MXWO.L
11.4%
VOO
8.3%

Consumer Cyclical

MXWO.L
9.3%
VOO
10.2%

Communication Services

MXWO.L
9.3%
VOO
11.3%

Healthcare

MXWO.L
8.8%
VOO
8.5%

Consumer Defensive

MXWO.L
5.2%
VOO
4.9%

Energy

MXWO.L
4.2%
VOO
3.5%

Basic Materials

MXWO.L
3.3%
VOO
1.8%

Utilities

MXWO.L
2.7%
VOO
2.4%

Real Estate

MXWO.L
1.9%
VOO
1.9%

Compare stocks, funds, or ETFs

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Invesco MSCI World UCITS ETF

Vanguard S&P 500 ETF

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 VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

Return for Risk

MXWO.L vs. VOO — 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
VOO
VOO Risk / Return Rank: 7474
Overall Rank
VOO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 7575
Sortino Ratio Rank
VOO Omega Ratio Rank: 7575
Omega Ratio Rank
VOO Calmar Ratio Rank: 6666
Calmar Ratio Rank
VOO Martin Ratio Rank: 7878
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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWO.L) and Vanguard S&P 500 ETF (VOO). 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.LVOODifference
Sharpe ratioReturn per unit of total volatility
2.19
2.44

-0.25

Sortino ratioReturn per unit of downside risk
3.26
3.31

-0.05

Omega ratioGain probability vs. loss probability

1.40

1.44

-0.04

Calmar ratioReturn relative to maximum drawdown

3.12

3.23

-0.11

Martin ratioReturn relative to average drawdown

13.34

15.03

-1.70

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. VOO - Sharpe Ratio Comparison

The current MXWO.L Sharpe Ratio is 2.19, which is comparable to the VOO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of MXWO.L and VOO, 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.LVOODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.19

2.44

-0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.84

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.82

0.87

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.86

0.89

-0.03

Drawdowns

MXWO.L vs. VOO - Drawdown Comparison

The maximum MXWO.L drawdown since its inception was -33.89%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for MXWO.L and VOO.

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Drawdown Indicators

MXWO.LVOODifference

Max Drawdown

Largest peak-to-trough decline

-33.89%

-33.99%

+0.10%

Max Drawdown (1Y)

Largest decline over 1 year

-8.34%

-8.90%

+0.56%

Max Drawdown (3Y)

Largest decline over 3 years

-17.85%

-18.69%

+0.84%

Max Drawdown (5Y)

Largest decline over 5 years

-25.80%

-24.52%

-1.28%

Max Drawdown (10Y)

Largest decline over 10 years

-33.89%

-33.99%

+0.10%

Current Drawdown

Current decline from peak

-0.45%

-0.32%

-0.13%

Average Drawdown

Average peak-to-trough decline

-4.31%

-3.69%

-0.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

1.91%

+0.04%

Volatility

MXWO.L vs. VOO - Volatility Comparison

Invesco MSCI World UCITS ETF (MXWO.L) has a higher volatility of 3.32% compared to Vanguard S&P 500 ETF (VOO) at 2.78%. This indicates that MXWO.L's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MXWO.LVOODifference

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%

8.90%

+0.25%

Volatility (1Y)

Calculated over the trailing 1-year period

11.88%

11.80%

+0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.75%

16.81%

-1.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.93%

18.00%

-2.07%

MXWO.L vs. VOO - Expense Ratio Comparison

MXWO.L has a 0.19% expense ratio, which is higher than VOO's 0.03% 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

MXWO.L vs. VOO - Dividend Comparison

MXWO.L has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.02%.

PositionTTM20252024202320222021202020192018201720162015
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%
VOO
Vanguard S&P 500 ETF		1.02%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

MXWO.L and VOO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VOO is cheaper with a 0.03% expense ratio, compared with 0.19% for MXWO.L.

MXWO.L is categorized as Global Equities, while VOO is S&P 500. MXWO.L tracks MSCI ACWI NR USD, while VOO tracks S&P 500 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.19% for MXWO.L and 0.03% for VOO.

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