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SPX5.L vs. ACWX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPX5.L vs. ACWX

Last updated Jun 14, 2026

SPX5.L (SPDR S&P 500 UCITS ETF) and ACWX (iShares MSCI ACWI ex U.S. ETF) are both exchange-traded funds - SPX5.L is a S&P 500 fund tracking the S&P 500 Index, while ACWX is a Foreign Large Cap Equities fund tracking the MSCI All Country World ex-U.S. Index. Both are passively managed. Over the past 10 years, SPX5.L returned 15.80%/yr vs 10.62%/yr for ACWX. A 0.53 correlation means they provide meaningful diversification when combined. SPX5.L charges 0.09%/yr vs 0.32%/yr for ACWX.

Performance

SPX5.L vs. ACWX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P 500 UCITS ETF (SPX5.L) and iShares MSCI ACWI ex U.S. ETF (ACWX). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SPX5.L is traded in GBP, while ACWX is traded in USD. To make them comparable, the ACWX values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPX5.L achieves a 8.77% return, which is significantly lower than ACWX's 14.48% return. Over the past 10 years, SPX5.L has outperformed ACWX with an annualized return of 15.80%, while ACWX has yielded a comparatively lower 10.62% annualized return.

SPX5.L

1D
1.48%
1M
-0.34%
YTD
8.77%
6M
9.15%
1Y
26.66%
3Y*
18.27%
5Y*
14.39%
10Y*
15.80%

ACWX

1D
0.51%
1M
1.37%
YTD
14.48%
6M
15.36%
1Y
31.98%
3Y*
16.05%
5Y*
9.38%
10Y*
10.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPX5.L vs. ACWX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPX5.L
SPDR S&P 500 UCITS ETF		8.77%9.34%27.46%19.76%-9.00%30.96%13.52%26.33%-0.04%10.71%
ACWX
iShares MSCI ACWI ex U.S. ETF		14.48%23.15%7.01%9.85%-6.09%8.69%7.05%16.45%-8.89%16.20%

Correlation

The correlation between SPX5.L and ACWX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.45

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

0.40

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

0.44

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

0.52

Correlation (All Time)
Calculated using the full available price history since Mar 19, 2012

0.53

The correlation between SPX5.L and ACWX shifts across timeframes, from 0.40 (3 years) to 0.53 (all time), reflecting how their relationship changes across market environments.

SPX5.L vs. ACWX - Sectors Allocation Comparison

Sectors
SPX5.L
ACWX

Technology

35.6%
22.5%

Financial Services

11.8%
23.2%

Communication Services

11.2%
4.9%

Consumer Cyclical

10.1%
7.5%

Healthcare

8.5%
6.8%

Industrials

8.3%
14.2%

Consumer Defensive

4.9%
4.8%

Energy

3.5%
4.8%

Utilities

2.3%
3.0%

Real Estate

1.9%
1.4%

Basic Materials

1.8%
6.9%

Technology

SPX5.L
35.6%
ACWX
22.5%

Financial Services

SPX5.L
11.8%
ACWX
23.2%

Communication Services

SPX5.L
11.2%
ACWX
4.9%

Consumer Cyclical

SPX5.L
10.1%
ACWX
7.5%

Healthcare

SPX5.L
8.5%
ACWX
6.8%

Industrials

SPX5.L
8.3%
ACWX
14.2%

Consumer Defensive

SPX5.L
4.9%
ACWX
4.8%

Energy

SPX5.L
3.5%
ACWX
4.8%

Utilities

SPX5.L
2.3%
ACWX
3.0%

Real Estate

SPX5.L
1.9%
ACWX
1.4%

Basic Materials

SPX5.L
1.8%
ACWX
6.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR S&P 500 UCITS ETF

iShares MSCI ACWI ex U.S. ETF

Often compared with SPX5.L:
SPX5.L vs. SPYSPX5.L vs. SPXP.LSPX5.L vs. VUSA.DESPX5.L vs. VUSA.LSPX5.L vs. VOOSPX5.L vs. IUSA.LSPX5.L vs. EQQQ.L
Often compared with ACWX:
ACWX vs. SPYACWX vs. VXUSACWX vs. ACWIACWX vs. VEUACWX vs. IXUSACWX vs. VOOACWX vs. IWV

Return for Risk

SPX5.L vs. ACWX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPX5.L
SPX5.L Risk / Return Rank: 8383
Overall Rank
SPX5.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
SPX5.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
SPX5.L Omega Ratio Rank: 8585
Omega Ratio Rank
SPX5.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
SPX5.L Martin Ratio Rank: 7979
Martin Ratio Rank
ACWX
ACWX Risk / Return Rank: 6060
Overall Rank
ACWX Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
ACWX Sortino Ratio Rank: 5959
Sortino Ratio Rank
ACWX Omega Ratio Rank: 6161
Omega Ratio Rank
ACWX Calmar Ratio Rank: 5858
Calmar Ratio Rank
ACWX Martin Ratio Rank: 6262
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.

SPX5.L vs. ACWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPX5.L) and iShares MSCI ACWI ex U.S. ETF (ACWX). 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.

SPX5.LACWXDifference
Sharpe ratioReturn per unit of total volatility
2.42
2.22

+0.19

Sortino ratioReturn per unit of downside risk
3.25
2.95

+0.30

Omega ratioGain probability vs. loss probability

1.45

1.43

+0.02

Calmar ratioReturn relative to maximum drawdown

3.67

3.04

+0.63

Martin ratioReturn relative to average drawdown

13.26

12.06

+1.20

SPX5.L vs. ACWX - Sharpe Ratio Comparison

The current SPX5.L Sharpe Ratio is 2.42, which is comparable to the ACWX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of SPX5.L and ACWX, 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

SPX5.L vs. ACWX - Drawdown Comparison

The maximum SPX5.L drawdown since its inception was -41.23%, smaller than the maximum ACWX drawdown of -44.20%. Use the drawdown chart below to compare losses from any high point for SPX5.L and ACWX.

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Drawdown Indicators

SPX5.LACWXDifference

Max Drawdown

Largest peak-to-trough decline

-41.23%

-44.20%

+2.97%

Max Drawdown (1Y)

Largest decline over 1 year

-7.07%

-10.14%

+3.07%

Max Drawdown (3Y)

Largest decline over 3 years

-20.90%

-13.25%

-7.65%

Max Drawdown (5Y)

Largest decline over 5 years

-20.90%

-14.93%

-5.97%

Max Drawdown (10Y)

Largest decline over 10 years

-25.45%

-28.44%

+2.99%

Current Drawdown

Current decline from peak

-1.82%

-0.95%

-0.87%

Average Drawdown

Average peak-to-trough decline

-7.47%

-6.90%

-0.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.96%

2.55%

-0.59%

Volatility

SPX5.L vs. ACWX - Volatility Comparison

The current volatility for SPDR S&P 500 UCITS ETF (SPX5.L) is 3.60%, while iShares MSCI ACWI ex U.S. ETF (ACWX) has a volatility of 6.09%. This indicates that SPX5.L experiences smaller price fluctuations and is considered to be less risky than ACWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPX5.LACWXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

6.09%

-2.49%

Volatility (6M)

Calculated over the trailing 6-month period

7.54%

12.12%

-4.58%

Volatility (1Y)

Calculated over the trailing 1-year period

10.78%

13.87%

-3.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.26%

13.36%

+0.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.53%

15.77%

-0.24%

SPX5.L vs. ACWX - Expense Ratio Comparison

SPX5.L has a 0.09% expense ratio, which is lower than ACWX's 0.32% expense ratio.

Dividends

SPX5.L vs. ACWX - Dividend Comparison

SPX5.L's dividend yield for the trailing twelve months is around 0.90%, less than ACWX's 2.48% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWX
iShares MSCI ACWI ex U.S. ETF		2.48%2.82%2.97%2.96%2.68%2.74%1.88%3.22%2.60%2.40%2.77%2.51%
SPX5.L
SPDR S&P 500 UCITS ETF		0.90%0.98%1.03%1.21%1.39%0.98%1.40%1.48%1.71%1.57%1.49%1.68%

Frequently Asked Questions

SPX5.L and ACWX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPX5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPX5.L is cheaper with a 0.09% expense ratio, compared with 0.32% for ACWX.

SPX5.L is categorized as S&P 500, while ACWX is Foreign Large Cap Equities. SPX5.L tracks S&P 500 Index, while ACWX tracks MSCI All Country World ex-U.S. Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.09% for SPX5.L and 0.32% for ACWX.

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