SWLD.L vs. ACWI.L

Last updated Jun 4, 2026

SWLD.L (SPDR MSCI World UCITS ETF) and ACWI.L (SPDR MSCI ACWI UCITS ETF) are both Global Equities funds from State Street tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, SWLD.L returned 13.15%/yr vs 12.53%/yr for ACWI.L. With a 0.98 correlation, they move nearly in lockstep. SWLD.L charges 0.12%/yr vs 0.40%/yr for ACWI.L.

Performance

SWLD.L vs. ACWI.L - Performance Comparison

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

Returns By Period

In the year-to-date period, SWLD.L achieves a 9.96% return, which is significantly lower than ACWI.L's 11.87% return.

SWLD.L

• 1D: -0.28%
• 1M: 5.24%
• YTD: 9.96%
• 6M: 10.41%
• 1Y: 27.28%
• 3Y*: 17.98%
• 5Y*: 13.15%
• 10Y*: —

ACWI.L

• 1D: -0.37%
• 1M: 5.83%
• YTD: 11.87%
• 6M: 12.47%
• 1Y: 30.54%
• 3Y*: 18.34%
• 5Y*: 12.53%
• 10Y*: 13.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SWLD.L SPDR MSCI World UCITS ETF	9.96%	12.85%	21.19%	17.70%	-8.06%	23.66%	12.00%	14.48%
ACWI.L SPDR MSCI ACWI UCITS ETF	11.87%	14.32%	19.66%	15.59%	-8.59%	20.28%	11.89%	13.72%

Correlation

The correlation between SWLD.L and ACWI.L is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019	0.98

The correlation between SWLD.L and ACWI.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

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

Sectors	SWLD.L	ACWI.L
Technology	28.3%	29.2%
Financial Services	15.7%	16.5%
Industrials	11.4%	10.9%
Consumer Cyclical	9.3%	9.3%
Communication Services	9.2%	9.0%
Healthcare	8.8%	8.0%
Consumer Defensive	5.2%	4.9%
Energy	4.2%	4.3%
Basic Materials	3.3%	3.6%
Utilities	2.7%	2.7%
Real Estate	1.9%	1.7%

Return for Risk

SWLD.L vs. ACWI.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SWLD.L

SWLD.L Risk / Return Rank: 81
SWLD.L Sharpe Ratio Rank: 81
SWLD.L Sortino Ratio Rank: 81
SWLD.L Omega Ratio Rank: 83
SWLD.L Calmar Ratio Rank: 79
SWLD.L Martin Ratio Rank: 82

ACWI.L

ACWI.L Risk / Return Rank: 85
ACWI.L Sharpe Ratio Rank: 86
ACWI.L Sortino Ratio Rank: 87
ACWI.L Omega Ratio Rank: 88
ACWI.L Calmar Ratio Rank: 81
ACWI.L Martin Ratio Rank: 84

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.

SWLD.L vs. ACWI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SWLD.L) and SPDR MSCI ACWI UCITS ETF (ACWI.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.

	SWLD.L	ACWI.L	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.92	-0.22
Sortino ratio: Return per unit of downside risk	3.70	4.02	-0.32
Omega ratio: Gain probability vs. loss probability	1.51	1.56	-0.05
Calmar ratio: Return relative to maximum drawdown	4.13	4.31	-0.18
Martin ratio: Return relative to average drawdown	16.62	17.47	-0.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current SWLD.L Sharpe Ratio is 2.70, which is comparable to the ACWI.L Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of SWLD.L and ACWI.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.

Sharpe Ratios by Period

	SWLD.L	ACWI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.92	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	0.96	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.81	+0.11

Drawdowns

SWLD.L vs. ACWI.L - Drawdown Comparison

The maximum SWLD.L drawdown since its inception was -25.85%, roughly equal to the maximum ACWI.L drawdown of -25.44%. Use the drawdown chart below to compare losses from any high point for SWLD.L and ACWI.L.

Drawdown Indicators

	SWLD.L	ACWI.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.85%	-25.44%	-0.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-7.05%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.65%	-18.07%	-0.58%
Max Drawdown (5Y) Largest decline over 5 years	-18.65%	-18.07%	-0.58%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.44%	—
Current Drawdown Current decline from peak	-0.28%	-0.37%	+0.09%
Average Drawdown Average peak-to-trough decline	-3.17%	-3.67%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.74%	-0.10%

Volatility

SWLD.L vs. ACWI.L - Volatility Comparison

The current volatility for SPDR MSCI World UCITS ETF (SWLD.L) is 2.52%, while SPDR MSCI ACWI UCITS ETF (ACWI.L) has a volatility of 2.89%. This indicates that SWLD.L experiences smaller price fluctuations and is considered to be less risky than ACWI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWLD.L	ACWI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	2.89%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	7.23%	7.76%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.11%	10.45%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	13.05%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.26%	14.39%	+0.87%

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

SWLD.L has a 0.12% expense ratio, which is lower than ACWI.L's 0.40% expense ratio.

Dividends

SWLD.L vs. ACWI.L - Dividend Comparison

Neither SWLD.L nor ACWI.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SWLD.L and ACWI.L in my portfolio?

With a correlation of 0.98, SWLD.L and ACWI.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.

Which ETF is better, SWLD.L or ACWI.L?

On fees, SWLD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SWLD.L or ACWI.L?

SWLD.L is cheaper with a 0.12% expense ratio, compared with 0.40% for ACWI.L.

What is the main difference between SWLD.L and ACWI.L?

Both ETFs track MSCI ACWI NR USD. Their fees differ too: 0.12% for SWLD.L and 0.40% for ACWI.L.