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MXWS.L vs. ISWD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MXWS.L vs. ISWD.L

Last updated Jun 5, 2026

MXWS.L (Invesco MSCI World UCITS ETF) and ISWD.L (iShares MSCI World Islamic UCITS ETF USD (Dist)) are both Global Equities funds - MXWS.L tracks the MSCI ACWI NR USD while ISWD.L tracks the MSCI World Islamic Index. Both are passively managed. Over the past 10 years, MXWS.L returned 14.18%/yr vs 12.58%/yr for ISWD.L. A 0.77 correlation means they provide meaningful diversification when combined. MXWS.L charges 0.19%/yr vs 0.60%/yr for ISWD.L.

Performance

MXWS.L vs. ISWD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI World UCITS ETF (MXWS.L) and iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MXWS.L achieves a 10.17% return, which is significantly lower than ISWD.L's 20.06% return. Over the past 10 years, MXWS.L has outperformed ISWD.L with an annualized return of 14.18%, while ISWD.L has yielded a comparatively lower 12.58% annualized return.

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%

ISWD.L

1D
-0.25%
1M
9.64%
YTD
20.06%
6M
20.12%
1Y
38.63%
3Y*
15.87%
5Y*
13.67%
10Y*
12.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MXWS.L vs. ISWD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%11.80%
ISWD.L
iShares MSCI World Islamic UCITS ETF USD (Dist)		20.06%11.58%7.85%17.25%-0.87%23.70%5.11%17.98%-3.81%9.22%

Correlation

The correlation between MXWS.L and ISWD.L is 0.85, 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

0.85

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

0.90

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

0.91

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

0.83

Correlation (All Time)
Calculated using the full available price history since May 28, 2015

0.77

The correlation between MXWS.L and ISWD.L shifts across timeframes, from 0.77 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.

MXWS.L vs. ISWD.L - Sectors Allocation Comparison

Sectors
MXWS.L
ISWD.L

Technology

28.3%
42.8%

Financial Services

15.7%
0.0%

Industrials

11.4%
12.9%

Consumer Cyclical

9.3%
6.9%

Communication Services

9.3%
0.4%

Healthcare

8.8%
10.4%

Consumer Defensive

5.2%
3.7%

Energy

4.2%
11.6%

Basic Materials

3.3%
9.6%

Utilities

2.7%
1.1%

Real Estate

1.9%
0.2%

Technology

MXWS.L
28.3%
ISWD.L
42.8%

Financial Services

MXWS.L
15.7%
ISWD.L
0.0%

Industrials

MXWS.L
11.4%
ISWD.L
12.9%

Consumer Cyclical

MXWS.L
9.3%
ISWD.L
6.9%

Communication Services

MXWS.L
9.3%
ISWD.L
0.4%

Healthcare

MXWS.L
8.8%
ISWD.L
10.4%

Consumer Defensive

MXWS.L
5.2%
ISWD.L
3.7%

Energy

MXWS.L
4.2%
ISWD.L
11.6%

Basic Materials

MXWS.L
3.3%
ISWD.L
9.6%

Utilities

MXWS.L
2.7%
ISWD.L
1.1%

Real Estate

MXWS.L
1.9%
ISWD.L
0.2%

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 Islamic UCITS ETF USD (Dist)

Often compared with MXWS.L:
MXWS.L vs. MXWO.LMXWS.L vs. FWRGMXWS.L vs. SWDA.LMXWS.L vs. VTMXWS.L vs. TSWE.ASMXWS.L vs. VUAA.LMXWS.L vs. IWDA.L
Often compared with ISWD.L:
ISWD.L vs. IGDA.LISWD.L vs. SPUSISWD.L vs. HLALISWD.L vs. VOOISWD.L vs. SPWOISWD.L vs. UMMAISWD.L vs. HIWS.L

Return for Risk

MXWS.L vs. ISWD.L — 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: 8383
Overall Rank
MXWS.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
MXWS.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
MXWS.L Omega Ratio Rank: 8484
Omega Ratio Rank
MXWS.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
MXWS.L Martin Ratio Rank: 8383
Martin Ratio Rank
ISWD.L
ISWD.L Risk / Return Rank: 9393
Overall Rank
ISWD.L Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
ISWD.L Sortino Ratio Rank: 9393
Sortino Ratio Rank
ISWD.L Omega Ratio Rank: 9393
Omega Ratio Rank
ISWD.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
ISWD.L Martin Ratio Rank: 9393
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.

MXWS.L vs. ISWD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWS.L) and iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.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.

MXWS.LISWD.LDifference
Sharpe ratioReturn per unit of total volatility
2.69
3.40

-0.71

Sortino ratioReturn per unit of downside risk
3.68
4.58

-0.90

Omega ratioGain probability vs. loss probability

1.51

1.63

-0.12

Calmar ratioReturn relative to maximum drawdown

4.17

6.98

-2.81

Martin ratioReturn relative to average drawdown

16.68

23.95

-7.27

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. ISWD.L - Sharpe Ratio Comparison

The current MXWS.L Sharpe Ratio is 2.69, which is comparable to the ISWD.L Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of MXWS.L and ISWD.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

MXWS.LISWD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.69

3.40

-0.71

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.98

1.03

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.07

0.88

+0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

1.00

0.74

+0.25

Drawdowns

MXWS.L vs. ISWD.L - Drawdown Comparison

The maximum MXWS.L drawdown since its inception was -24.29%, smaller than the maximum ISWD.L drawdown of -31.52%. Use the drawdown chart below to compare losses from any high point for MXWS.L and ISWD.L.

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Drawdown Indicators

MXWS.LISWD.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.29%

-31.52%

+7.23%

Max Drawdown (1Y)

Largest decline over 1 year

-6.55%

-5.51%

-1.04%

Max Drawdown (3Y)

Largest decline over 3 years

-19.29%

-21.00%

+1.71%

Max Drawdown (5Y)

Largest decline over 5 years

-19.29%

-21.00%

+1.71%

Max Drawdown (10Y)

Largest decline over 10 years

-24.29%

-24.90%

+0.61%

Current Drawdown

Current decline from peak

-0.13%

-0.25%

+0.12%

Average Drawdown

Average peak-to-trough decline

-3.25%

-3.60%

+0.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.64%

1.61%

+0.03%

Volatility

MXWS.L vs. ISWD.L - Volatility Comparison

The current volatility for Invesco MSCI World UCITS ETF (MXWS.L) is 2.51%, while iShares MSCI World Islamic UCITS ETF USD (Dist) (ISWD.L) has a volatility of 3.64%. This indicates that MXWS.L experiences smaller price fluctuations and is considered to be less risky than ISWD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MXWS.LISWD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.51%

3.64%

-1.13%

Volatility (6M)

Calculated over the trailing 6-month period

7.41%

8.41%

-1.00%

Volatility (1Y)

Calculated over the trailing 1-year period

10.16%

11.32%

-1.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.33%

13.27%

+0.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.45%

14.33%

+1.12%

MXWS.L vs. ISWD.L - Expense Ratio Comparison

MXWS.L has a 0.19% expense ratio, which is lower than ISWD.L's 0.60% expense ratio.

Dividends

MXWS.L vs. ISWD.L - Dividend Comparison

MXWS.L has not paid dividends to shareholders, while ISWD.L's dividend yield for the trailing twelve months is around 1.27%.

PositionTTM20252024202320222021202020192018201720162015
ISWD.L
iShares MSCI World Islamic UCITS ETF USD (Dist)		1.27%1.50%1.74%1.99%2.43%1.98%1.88%2.37%2.39%2.09%2.09%2.62%
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%0.00%0.00%

Frequently Asked Questions

MXWS.L and ISWD.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

MXWS.L is cheaper with a 0.19% expense ratio, compared with 0.60% for ISWD.L.

MXWS.L tracks MSCI ACWI NR USD, while ISWD.L tracks MSCI World Islamic Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for MXWS.L and 0.60% for ISWD.L.

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