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

SPX5.L vs. SWLD.L

Last updated Jun 5, 2026

SPX5.L (SPDR S&P 500 UCITS ETF) and SWLD.L (SPDR MSCI World UCITS ETF) are both exchange-traded funds - SPX5.L is a S&P 500 fund tracking the S&P 500 Index, while SWLD.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, SPX5.L returned 14.92%/yr vs 13.17%/yr for SWLD.L. With a 0.96 correlation, they move nearly in lockstep. SPX5.L charges 0.09%/yr vs 0.12%/yr for SWLD.L.

Performance

SPX5.L vs. SWLD.L - Performance Comparison

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

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Returns By Period

The year-to-date returns for both stocks are quite close, with SPX5.L having a 10.53% return and SWLD.L slightly lower at 10.05%.

SPX5.L

1D
0.05%
1M
5.53%
YTD
10.53%
6M
10.48%
1Y
29.15%
3Y*
19.03%
5Y*
14.92%
10Y*
16.17%

SWLD.L

1D
0.09%
1M
5.11%
YTD
10.05%
6M
10.38%
1Y
27.24%
3Y*
17.80%
5Y*
13.17%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPX5.L vs. SWLD.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
SPX5.L
SPDR S&P 500 UCITS ETF		10.53%9.34%27.47%19.75%-9.01%30.96%13.52%17.05%
SWLD.L
SPDR MSCI World UCITS ETF		10.05%12.85%21.19%17.70%-8.06%23.66%12.00%14.48%

Correlation

The correlation between SPX5.L and SWLD.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.96

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

0.96

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

0.97

Correlation (All Time)
Calculated using the full available price history since Mar 5, 2019

0.96

The correlation between SPX5.L and SWLD.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

SPX5.L vs. SWLD.L - Sectors Allocation Comparison

Sectors
SPX5.L
SWLD.L

Technology

35.6%
28.3%

Financial Services

11.8%
15.7%

Communication Services

11.2%
9.2%

Consumer Cyclical

10.1%
9.3%

Healthcare

8.5%
8.8%

Industrials

8.3%
11.4%

Consumer Defensive

4.9%
5.2%

Energy

3.5%
4.2%

Utilities

2.3%
2.7%

Real Estate

1.9%
1.9%

Basic Materials

1.8%
3.3%

Technology

SPX5.L
35.6%
SWLD.L
28.3%

Financial Services

SPX5.L
11.8%
SWLD.L
15.7%

Communication Services

SPX5.L
11.2%
SWLD.L
9.2%

Consumer Cyclical

SPX5.L
10.1%
SWLD.L
9.3%

Healthcare

SPX5.L
8.5%
SWLD.L
8.8%

Industrials

SPX5.L
8.3%
SWLD.L
11.4%

Consumer Defensive

SPX5.L
4.9%
SWLD.L
5.2%

Energy

SPX5.L
3.5%
SWLD.L
4.2%

Utilities

SPX5.L
2.3%
SWLD.L
2.7%

Real Estate

SPX5.L
1.9%
SWLD.L
1.9%

Basic Materials

SPX5.L
1.8%
SWLD.L
3.3%

Compare stocks, funds, or ETFs

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SPDR S&P 500 UCITS ETF

SPDR MSCI World UCITS 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 SWLD.L:
SWLD.L vs. VWRP.LSWLD.L vs. SWDA.LSWLD.L vs. VHVG.LSWLD.L vs. IMID.LSWLD.L vs. VWRL.LSWLD.L vs. LGGG.LSWLD.L vs. SSAC.L

Return for Risk

SPX5.L vs. SWLD.L — 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: 8585
Sharpe Ratio Rank
SPX5.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
SPX5.L Omega Ratio Rank: 8686
Omega Ratio Rank
SPX5.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SPX5.L Martin Ratio Rank: 7979
Martin Ratio Rank
SWLD.L
SWLD.L Risk / Return Rank: 8383
Overall Rank
SWLD.L Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
SWLD.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SWLD.L Omega Ratio Rank: 8585
Omega Ratio Rank
SWLD.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SWLD.L Martin Ratio Rank: 8383
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. SWLD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPX5.L) and SPDR MSCI World UCITS ETF (SWLD.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.

SPX5.LSWLD.LDifference
Sharpe ratioReturn per unit of total volatility
2.76
2.70

+0.07

Sortino ratioReturn per unit of downside risk
3.71
3.70

+0.01

Omega ratioGain probability vs. loss probability

1.52

1.51

0.00

Calmar ratioReturn relative to maximum drawdown

4.10

4.13

-0.03

Martin ratioReturn relative to average drawdown

15.08

16.60

-1.53

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPX5.L vs. SWLD.L - Sharpe Ratio Comparison

The current SPX5.L Sharpe Ratio is 2.76, which is comparable to the SWLD.L Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of SPX5.L and SWLD.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

SPX5.LSWLD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.76

2.70

+0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.05

1.00

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.04

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.04

0.92

+0.12

Drawdowns

SPX5.L vs. SWLD.L - Drawdown Comparison

The maximum SPX5.L drawdown since its inception was -25.45%, roughly equal to the maximum SWLD.L drawdown of -25.85%. Use the drawdown chart below to compare losses from any high point for SPX5.L and SWLD.L.

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Drawdown Indicators

SPX5.LSWLD.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.45%

-25.85%

+0.40%

Max Drawdown (1Y)

Largest decline over 1 year

-7.07%

-6.57%

-0.50%

Max Drawdown (3Y)

Largest decline over 3 years

-20.90%

-18.65%

-2.25%

Max Drawdown (5Y)

Largest decline over 5 years

-20.90%

-18.65%

-2.25%

Max Drawdown (10Y)

Largest decline over 10 years

-25.45%

—

—

Current Drawdown

Current decline from peak

-0.22%

-0.19%

-0.03%

Average Drawdown

Average peak-to-trough decline

-3.18%

-3.17%

-0.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

1.64%

+0.29%

Volatility

SPX5.L vs. SWLD.L - Volatility Comparison

SPDR S&P 500 UCITS ETF (SPX5.L) has a higher volatility of 2.67% compared to SPDR MSCI World UCITS ETF (SWLD.L) at 2.52%. This indicates that SPX5.L's price experiences larger fluctuations and is considered to be riskier than SWLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPX5.LSWLD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.67%

2.52%

+0.15%

Volatility (6M)

Calculated over the trailing 6-month period

7.16%

7.23%

-0.07%

Volatility (1Y)

Calculated over the trailing 1-year period

10.50%

10.06%

+0.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.22%

13.21%

+1.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.52%

15.25%

+0.27%

SPX5.L vs. SWLD.L - Expense Ratio Comparison

SPX5.L has a 0.09% expense ratio, which is lower than SWLD.L's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPX5.L vs. SWLD.L - Dividend Comparison

SPX5.L's dividend yield for the trailing twelve months is around 0.89%, while SWLD.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
SPX5.L
SPDR S&P 500 UCITS ETF		0.89%0.98%1.04%1.21%1.39%0.98%1.40%1.76%1.71%2.36%1.49%1.68%
SWLD.L
SPDR 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

With a correlation of 0.96, SPX5.L and SWLD.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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 0.12% for SWLD.L.

SPX5.L is categorized as S&P 500, while SWLD.L is Global Equities. SPX5.L tracks S&P 500 Index, while SWLD.L tracks MSCI ACWI NR USD. Their fees differ too: 0.09% for SPX5.L and 0.12% for SWLD.L.

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