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SHLD.L vs. MKUW.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SHLD.L vs. MKUW.L

Last updated Jul 16, 2026
Documentation

SHLD.L (iShares Digital Security UCITS ETF USD Dist) and MKUW.L (Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc) are both Technology Equities funds - SHLD.L tracks the iShares Digital Security UCITS ETF USD Dist while MKUW.L tracks the Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc. Both are passively managed. Over the past 5 years, SHLD.L returned 9.32%/yr vs 7.35%/yr for MKUW.L. At a 0.22 correlation, their price movements are largely independent. SHLD.L charges 0.40%/yr vs 0.50%/yr for MKUW.L.

Performance

SHLD.L vs. MKUW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Digital Security UCITS ETF USD Dist (SHLD.L) and Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.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, SHLD.L achieves a 17.77% return, which is significantly higher than MKUW.L's 0.89% return.

SHLD.L

1D
0.11%
1M
3.71%
6M
17.56%
YTD
17.77%
1Y
25.07%
3Y*
19.63%
5Y*
9.32%
10Y*
—

MKUW.L

1D
1.09%
1M
-1.83%
6M
1.55%
YTD
0.89%
1Y
4.11%
3Y*
8.26%
5Y*
7.35%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SHLD.L vs. MKUW.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
SHLD.L
iShares Digital Security UCITS ETF USD Dist		17.77%11.51%16.55%33.91%-29.11%16.50%27.22%8.07%
MKUW.L
Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc		0.89%25.35%9.15%-8.87%5.99%28.57%-9.88%10.35%

Correlation

The correlation between SHLD.L and MKUW.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.18

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

0.25

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

0.24

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2019

0.22

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iShares Digital Security UCITS ETF USD Dist

Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc

Return for Risk

SHLD.L vs. MKUW.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SHLD.L
SHLD.L Risk / Return Rank: 4242
Overall Rank
SHLD.L Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SHLD.L Sortino Ratio Rank: 4040
Sortino Ratio Rank
SHLD.L Omega Ratio Rank: 3737
Omega Ratio Rank
SHLD.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
SHLD.L Martin Ratio Rank: 3838
Martin Ratio Rank
MKUW.L
MKUW.L Risk / Return Rank: 1818
Overall Rank
MKUW.L Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
MKUW.L Sortino Ratio Rank: 1717
Sortino Ratio Rank
MKUW.L Omega Ratio Rank: 1717
Omega Ratio Rank
MKUW.L Calmar Ratio Rank: 2020
Calmar Ratio Rank
MKUW.L Martin Ratio Rank: 1919
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.

SHLD.L vs. MKUW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Digital Security UCITS ETF USD Dist (SHLD.L) and Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

SHLD.LMKUW.LDifference
Sharpe ratioReturn per unit of total volatility
1.18
0.51

+0.66

Sortino ratioReturn per unit of downside risk
1.74
0.80

+0.94

Omega ratioGain probability vs. loss probability

1.21

1.10

+0.11

Calmar ratioReturn relative to maximum drawdown

2.23

0.70

+1.53

Martin ratioReturn relative to average drawdown

4.84

1.63

+3.21

SHLD.L vs. MKUW.L - Sharpe Ratio Comparison

The current SHLD.L Sharpe Ratio is 1.18, which is higher than the MKUW.L Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of SHLD.L and MKUW.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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Drawdowns

SHLD.L vs. MKUW.L - Drawdown Comparison

The maximum SHLD.L drawdown since its inception was -36.07%, roughly equal to the maximum MKUW.L drawdown of -37.76%. Use the drawdown chart below to compare losses from any high point for SHLD.L and MKUW.L.

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Drawdown Indicators

SHLD.LMKUW.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.07%

-37.76%

+1.69%

Max Drawdown (1Y)

Largest decline over 1 year

-11.40%

-7.47%

-3.93%

Max Drawdown (3Y)

Largest decline over 3 years

-22.72%

-14.16%

-8.56%

Max Drawdown (5Y)

Largest decline over 5 years

-36.07%

-25.13%

-10.94%

Current Drawdown

Current decline from peak

-4.38%

-2.89%

-1.49%

Average Drawdown

Average peak-to-trough decline

-9.27%

-9.42%

+0.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.27%

3.24%

+2.03%

Volatility

SHLD.L vs. MKUW.L - Volatility Comparison

iShares Digital Security UCITS ETF USD Dist (SHLD.L) has a higher volatility of 7.42% compared to Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc (MKUW.L) at 2.12%. This indicates that SHLD.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SHLD.LMKUW.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.42%

2.12%

+5.30%

Volatility (6M)

Calculated over the trailing 6-month period

18.10%

8.09%

+10.01%

Volatility (1Y)

Calculated over the trailing 1-year period

21.64%

10.37%

+11.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.39%

12.77%

+8.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.23%

16.50%

+4.73%

SHLD.L vs. MKUW.L - Expense Ratio Comparison

SHLD.L has a 0.40% expense ratio, which is lower than MKUW.L's 0.50% expense ratio.

Dividends

SHLD.L vs. MKUW.L - Dividend Comparison

SHLD.L's dividend yield for the trailing twelve months is around 0.35%, while MKUW.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
MKUW.L
Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SHLD.L
iShares Digital Security UCITS ETF USD Dist		0.35%0.39%0.48%0.43%0.63%0.66%0.84%1.00%

Frequently Asked Questions

SHLD.L and MKUW.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SHLD.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SHLD.L is cheaper with a 0.40% expense ratio, compared with 0.50% for MKUW.L.

SHLD.L tracks iShares Digital Security UCITS ETF USD Dist, while MKUW.L tracks Invesco Markets PLC - Invesco MSCI Kuwait UCITS ETF USD Acc. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.40% for SHLD.L and 0.50% for MKUW.L.

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