MXWS.L vs. FGEQ.DE

Last updated Jun 5, 2026

MXWS.L (Invesco MSCI World UCITS ETF) and FGEQ.DE (Fidelity Global Quality Income UCITS ETF Inc) are both Global Equities funds - MXWS.L tracks the MSCI ACWI NR USD while FGEQ.DE tracks the Fidelity Global Quality Income index. Both are passively managed. Over the past 5 years, MXWS.L returned 13.12%/yr vs 11.85%/yr for FGEQ.DE. Their correlation of 0.80 suggests significant overlap in exposure. MXWS.L charges 0.19%/yr vs 0.40%/yr for FGEQ.DE.

Performance

MXWS.L vs. FGEQ.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI World UCITS ETF (MXWS.L) and Fidelity Global Quality Income UCITS ETF Inc (FGEQ.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MXWS.L is traded in GBp, while FGEQ.DE is traded in EUR. To make them comparable, the FGEQ.DE values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with MXWS.L having a 10.17% return and FGEQ.DE slightly lower at 9.73%.

MXWS.L

• 1D: 0.04%
• 1M: 5.20%
• YTD: 10.17%
• 6M: 10.37%
• 1Y: 27.42%
• 3Y*: 17.75%
• 5Y*: 13.12%
• 10Y*: 14.18%

FGEQ.DE

• 1D: 0.06%
• 1M: 3.73%
• YTD: 9.73%
• 6M: 9.72%
• 1Y: 27.03%
• 3Y*: 14.72%
• 5Y*: 11.85%
• 10Y*: —

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

MXWS.L vs. FGEQ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXWS.L Invesco MSCI World UCITS ETF	10.17%	12.63%	21.11%	17.73%	-8.30%	23.66%	12.37%	23.46%	-3.87%	7.27%
FGEQ.DE Fidelity Global Quality Income UCITS ETF Inc	9.73%	12.79%	12.75%	11.78%	-0.97%	23.31%	5.31%	24.61%	-2.34%	7.82%

Correlation

The correlation between MXWS.L and FGEQ.DE is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 4, 2017	0.80

The correlation between MXWS.L and FGEQ.DE has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

MXWS.L vs. FGEQ.DE — Risk / Return Rank

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

MXWS.L

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

FGEQ.DE

FGEQ.DE Risk / Return Rank: 76
FGEQ.DE Sharpe Ratio Rank: 72
FGEQ.DE Sortino Ratio Rank: 73
FGEQ.DE Omega Ratio Rank: 73
FGEQ.DE Calmar Ratio Rank: 80
FGEQ.DE Martin Ratio Rank: 83

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.

MXWS.L vs. FGEQ.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWS.L) and Fidelity Global Quality Income UCITS ETF Inc (FGEQ.DE). 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.

	MXWS.L	FGEQ.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.69	2.74	-0.06
Sortino ratio: Return per unit of downside risk	3.68	3.75	-0.07
Omega ratio: Gain probability vs. loss probability	1.51	1.51	0.00
Calmar ratio: Return relative to maximum drawdown	4.17	4.19	-0.02
Martin ratio: Return relative to average drawdown	16.68	17.09	-0.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXWS.L vs. FGEQ.DE - Sharpe Ratio Comparison

The current MXWS.L Sharpe Ratio is 2.69, which is comparable to the FGEQ.DE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of MXWS.L and FGEQ.DE, 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

	MXWS.L	FGEQ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.74	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.93	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.77	+0.23

Drawdowns

MXWS.L vs. FGEQ.DE - Drawdown Comparison

The maximum MXWS.L drawdown since its inception was -24.29%, smaller than the maximum FGEQ.DE drawdown of -27.07%. Use the drawdown chart below to compare losses from any high point for MXWS.L and FGEQ.DE.

Drawdown Indicators

	MXWS.L	FGEQ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-24.29%	-27.07%	+2.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.55%	-6.42%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-19.29%	-17.72%	-1.57%
Max Drawdown (5Y) Largest decline over 5 years	-19.29%	-17.72%	-1.57%
Max Drawdown (10Y) Largest decline over 10 years	-24.29%	—	—
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-3.25%	-2.94%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.58%	+0.06%

Volatility

MXWS.L vs. FGEQ.DE - Volatility Comparison

The current volatility for Invesco MSCI World UCITS ETF (MXWS.L) is 2.51%, while Fidelity Global Quality Income UCITS ETF Inc (FGEQ.DE) has a volatility of 2.68%. This indicates that MXWS.L experiences smaller price fluctuations and is considered to be less risky than FGEQ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXWS.L	FGEQ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	2.68%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	7.41%	7.40%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	10.16%	9.81%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.33%	12.56%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	14.38%	+1.07%

MXWS.L vs. FGEQ.DE - Expense Ratio Comparison

MXWS.L has a 0.19% expense ratio, which is lower than FGEQ.DE's 0.40% expense ratio.

Dividends

MXWS.L vs. FGEQ.DE - Dividend Comparison

MXWS.L has not paid dividends to shareholders, while FGEQ.DE's dividend yield for the trailing twelve months is around 1.80%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGEQ.DE Fidelity Global Quality Income UCITS ETF Inc	1.80%	1.90%	2.24%	2.77%	2.81%	2.13%	2.29%	2.11%	2.41%	1.51%
MXWS.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%

Frequently Asked Questions

Can I hold both MXWS.L and FGEQ.DE in my portfolio?

MXWS.L and FGEQ.DE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MXWS.L or FGEQ.DE?

On fees, MXWS.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, MXWS.L or FGEQ.DE?

MXWS.L is cheaper with a 0.19% expense ratio, compared with 0.40% for FGEQ.DE.

What is the main difference between MXWS.L and FGEQ.DE?

MXWS.L tracks MSCI ACWI NR USD, while FGEQ.DE tracks Fidelity Global Quality Income index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.19% for MXWS.L and 0.40% for FGEQ.DE.