MXWS.L vs. FWRG

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco MSCI World UCITS ETF (MXWS.L) and First Watch Restaurant Group, Inc. (FWRG).

MXWS.L is a passively managed fund by Invesco that tracks the performance of the MSCI ACWI NR USD. It was launched on Apr 2, 2009.

Performance

MXWS.L vs. FWRG - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI World UCITS ETF (MXWS.L) and First Watch Restaurant Group, Inc. (FWRG). The values are adjusted to include any dividend payments, if applicable.

MXWS.L vs. FWRG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MXWS.L Invesco MSCI World UCITS ETF	-1.35%	12.63%	21.11%	17.73%	-8.30%	8.39%
FWRG First Watch Restaurant Group, Inc.	-26.26%	-24.74%	-5.80%	41.13%	-9.67%	-24.21%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, MXWS.L achieves a -1.35% return, which is significantly higher than FWRG's -29.18% return.

MXWS.L

• 1D: 1.96%
• 1M: -3.37%
• YTD: -1.35%
• 6M: 2.19%
• 1Y: 16.82%
• 3Y*: 14.81%
• 5Y*: 11.39%
• 10Y*: 13.13%

FWRG

• 1D: 0.00%
• 1M: -14.73%
• YTD: -29.18%
• 6M: -32.04%
• 1Y: -42.81%
• 3Y*: -15.25%
• 5Y*: —
• 10Y*: —

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

Return for Risk

MXWS.L vs. FWRG — 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: 70
MXWS.L Sharpe Ratio Rank: 63
MXWS.L Sortino Ratio Rank: 62
MXWS.L Omega Ratio Rank: 64
MXWS.L Calmar Ratio Rank: 83
MXWS.L Martin Ratio Rank: 80

FWRG

FWRG Risk / Return Rank: 12
FWRG Sharpe Ratio Rank: 12
FWRG Sortino Ratio Rank: 14
FWRG Omega Ratio Rank: 14
FWRG Calmar Ratio Rank: 17
FWRG Martin Ratio Rank: 5

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. FWRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWS.L) and First Watch Restaurant Group, Inc. (FWRG). 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	FWRG	Difference
Sharpe ratio Return per unit of total volatility	1.16	-0.76	+1.91
Sortino ratio Return per unit of downside risk	1.63	-0.94	+2.57
Omega ratio Gain probability vs. loss probability	1.24	0.88	+0.36
Calmar ratio Return relative to maximum drawdown	2.54	-0.78	+3.33
Martin ratio Return relative to average drawdown	9.45	-1.82	+11.27
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. FWRG - Sharpe Ratio Comparison

The current MXWS.L Sharpe Ratio is 1.16, which is higher than the FWRG Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of MXWS.L and FWRG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MXWS.L	FWRG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	-0.76	+1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	-0.32	+1.24

Correlation

The correlation between MXWS.L and FWRG is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MXWS.L vs. FWRG - Dividend Comparison

Neither MXWS.L nor FWRG has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

MXWS.L vs. FWRG - Drawdown Comparison

The maximum MXWS.L drawdown since its inception was -24.29%, smaller than the maximum FWRG drawdown of -62.45%. Use the drawdown chart below to compare losses from any high point for MXWS.L and FWRG.

Drawdown Indicators

	MXWS.L	FWRG	Difference
Max Drawdown Largest peak-to-trough decline	-24.29%	-60.38%	+36.09%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-49.68%	+38.90%
Max Drawdown (5Y) Largest decline over 5 years	-19.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.29%	—	—
Current Drawdown Current decline from peak	-3.60%	-57.13%	+53.53%
Average Drawdown Average peak-to-trough decline	-3.30%	-27.96%	+24.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	20.56%	-18.78%

Volatility

MXWS.L vs. FWRG - Volatility Comparison

The current volatility for Invesco MSCI World UCITS ETF (MXWS.L) is 4.36%, while First Watch Restaurant Group, Inc. (FWRG) has a volatility of 16.23%. This indicates that MXWS.L experiences smaller price fluctuations and is considered to be less risky than FWRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXWS.L	FWRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	16.23%	-11.87%
Volatility (6M) Calculated over the trailing 6-month period	8.22%	41.81%	-33.59%
Volatility (1Y) Calculated over the trailing 1-year period	14.54%	57.29%	-42.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.42%	46.90%	-33.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.58%	46.90%	-31.32%