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

MXWS.L vs. MVOL.L

Last updated Jun 5, 2026

MXWS.L (Invesco MSCI World UCITS ETF) and MVOL.L (iShares Edge MSCI World Minimum Volatility UCITS) are both Global Equities funds tracking the MSCI ACWI NR USD, from Invesco and iShares respectively. Both are passively managed. Over the past 10 years, MXWS.L returned 14.18%/yr vs 7.84%/yr for MVOL.L. A 0.58 correlation means they provide meaningful diversification when combined. MXWS.L charges 0.19%/yr vs 0.35%/yr for MVOL.L.

Performance

MXWS.L vs. MVOL.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 Edge MSCI World Minimum Volatility UCITS (MVOL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

MXWS.L is traded in GBp, while MVOL.L is traded in USD. To make them comparable, the MVOL.L 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 10.17% return, which is significantly higher than MVOL.L's 1.00% return. Over the past 10 years, MXWS.L has outperformed MVOL.L with an annualized return of 14.18%, while MVOL.L has yielded a comparatively lower 7.84% 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%

MVOL.L

1D
0.00%
1M
1.61%
YTD
1.00%
6M
0.66%
1Y
2.34%
3Y*
6.53%
5Y*
6.30%
10Y*
7.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MXWS.L vs. MVOL.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%
MVOL.L
iShares Edge MSCI World Minimum Volatility UCITS		1.07%3.11%13.02%1.92%1.12%15.73%-0.45%17.90%3.39%7.25%

Correlation

The correlation between MXWS.L and MVOL.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.31

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

0.49

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

0.60

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

0.61

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

0.58

Over the past year, the correlation between MXWS.L and MVOL.L has dropped to 0.31 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

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

Sectors
MXWS.L
MVOL.L

Technology

28.3%
20.1%

Financial Services

15.7%
14.0%

Industrials

11.4%
9.2%

Consumer Cyclical

9.3%
5.6%

Communication Services

9.3%
12.1%

Healthcare

8.8%
13.8%

Consumer Defensive

5.2%
10.9%

Energy

4.2%
4.5%

Basic Materials

3.3%
1.1%

Utilities

2.7%
8.0%

Real Estate

1.9%
0.7%

Technology

MXWS.L
28.3%
MVOL.L
20.1%

Financial Services

MXWS.L
15.7%
MVOL.L
14.0%

Industrials

MXWS.L
11.4%
MVOL.L
9.2%

Consumer Cyclical

MXWS.L
9.3%
MVOL.L
5.6%

Communication Services

MXWS.L
9.3%
MVOL.L
12.1%

Healthcare

MXWS.L
8.8%
MVOL.L
13.8%

Consumer Defensive

MXWS.L
5.2%
MVOL.L
10.9%

Energy

MXWS.L
4.2%
MVOL.L
4.5%

Basic Materials

MXWS.L
3.3%
MVOL.L
1.1%

Utilities

MXWS.L
2.7%
MVOL.L
8.0%

Real Estate

MXWS.L
1.9%
MVOL.L
0.7%

Compare stocks, funds, or ETFs

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Invesco MSCI World UCITS ETF

iShares Edge MSCI World Minimum Volatility UCITS

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 MVOL.L:
MVOL.L vs. ACWVMVOL.L vs. IWDA.LMVOL.L vs. XDEB.DEMVOL.L vs. VOOMVOL.L vs. XDEM.LMVOL.L vs. USMVMVOL.L vs. SLXX.L

Return for Risk

MXWS.L vs. MVOL.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
MVOL.L
MVOL.L Risk / Return Rank: 1212
Overall Rank
MVOL.L Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
MVOL.L Sortino Ratio Rank: 1111
Sortino Ratio Rank
MVOL.L Omega Ratio Rank: 1111
Omega Ratio Rank
MVOL.L Calmar Ratio Rank: 1212
Calmar Ratio Rank
MVOL.L Martin Ratio Rank: 1212
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. MVOL.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 Edge MSCI World Minimum Volatility UCITS (MVOL.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.LMVOL.LDifference
Sharpe ratioReturn per unit of total volatility
2.69
0.27

+2.42

Sortino ratioReturn per unit of downside risk
3.68
0.43

+3.25

Omega ratioGain probability vs. loss probability

1.51

1.05

+0.45

Calmar ratioReturn relative to maximum drawdown

4.17

0.40

+3.77

Martin ratioReturn relative to average drawdown

16.68

1.02

+15.65

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. MVOL.L - Sharpe Ratio Comparison

The current MXWS.L Sharpe Ratio is 2.69, which is higher than the MVOL.L Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of MXWS.L and MVOL.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.LMVOL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.69

0.27

+2.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.98

0.59

+0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.07

0.63

+0.44

Sharpe Ratio (All Time)

Calculated using the full available price history

1.00

0.79

+0.21

Drawdowns

MXWS.L vs. MVOL.L - Drawdown Comparison

The maximum MXWS.L drawdown since its inception was -24.29%, which is greater than MVOL.L's maximum drawdown of -20.24%. Use the drawdown chart below to compare losses from any high point for MXWS.L and MVOL.L.

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Drawdown Indicators

MXWS.LMVOL.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.29%

-20.24%

-4.05%

Max Drawdown (1Y)

Largest decline over 1 year

-6.55%

-5.89%

-0.66%

Max Drawdown (3Y)

Largest decline over 3 years

-19.29%

-8.78%

-10.51%

Max Drawdown (5Y)

Largest decline over 5 years

-19.29%

-10.44%

-8.85%

Max Drawdown (10Y)

Largest decline over 10 years

-24.29%

-20.24%

-4.05%

Current Drawdown

Current decline from peak

-0.13%

-3.49%

+3.36%

Average Drawdown

Average peak-to-trough decline

-3.25%

-3.64%

+0.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.64%

2.28%

-0.64%

Volatility

MXWS.L vs. MVOL.L - Volatility Comparison

The current volatility for Invesco MSCI World UCITS ETF (MXWS.L) is 2.51%, while iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) has a volatility of 2.88%. This indicates that MXWS.L experiences smaller price fluctuations and is considered to be less risky than MVOL.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.LMVOL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.51%

2.88%

-0.37%

Volatility (6M)

Calculated over the trailing 6-month period

7.41%

6.87%

+0.54%

Volatility (1Y)

Calculated over the trailing 1-year period

10.16%

8.81%

+1.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.33%

10.63%

+2.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.45%

12.49%

+2.96%

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

MXWS.L has a 0.19% expense ratio, which is lower than MVOL.L's 0.35% expense ratio.

Dividends

MXWS.L vs. MVOL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

MXWS.L and MVOL.L have a correlation of 0.31, 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 0.35% for MVOL.L.

Both ETFs track MSCI ACWI NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for MXWS.L and 0.35% for MVOL.L.

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