SWLD.L vs. FTWG.L

Last updated Jun 4, 2026

SWLD.L (SPDR MSCI World UCITS ETF) and FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) are both Global Equities funds - SWLD.L tracks the MSCI ACWI NR USD while FTWG.L tracks the FTSE All-World Index. Both are passively managed. Over the past year, SWLD.L returned 27.28% vs 30.40% for FTWG.L. With a 0.97 correlation, they move nearly in lockstep. SWLD.L charges 0.12%/yr vs 0.15%/yr for FTWG.L.

Performance

SWLD.L vs. FTWG.L - Performance Comparison

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

Different Trading Currencies

SWLD.L is traded in GBP, while FTWG.L is traded in GBp. To make them comparable, the FTWG.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, SWLD.L achieves a 9.96% return, which is significantly lower than FTWG.L's 11.90% 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*: —

FTWG.L

• 1D: -0.39%
• 1M: 5.92%
• YTD: 11.90%
• 6M: 12.72%
• 1Y: 30.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023
SWLD.L SPDR MSCI World UCITS ETF	9.96%	12.85%	21.19%	8.12%
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	11.90%	14.12%	19.92%	7.22%

Correlation

The correlation between SWLD.L and FTWG.L is 0.97 - 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	0.97
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.97

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

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

Sectors	SWLD.L	FTWG.L
Technology	28.3%	29.1%
Financial Services	15.7%	16.4%
Industrials	11.4%	11.0%
Consumer Cyclical	9.3%	9.4%
Communication Services	9.2%	8.9%
Healthcare	8.8%	7.6%
Consumer Defensive	5.2%	5.0%
Energy	4.2%	4.3%
Basic Materials	3.3%	3.9%
Utilities	2.7%	2.6%
Real Estate	1.9%	1.9%

Return for Risk

SWLD.L vs. FTWG.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

FTWG.L

FTWG.L Risk / Return Rank: 85
FTWG.L Sharpe Ratio Rank: 87
FTWG.L Sortino Ratio Rank: 87
FTWG.L Omega Ratio Rank: 88
FTWG.L Calmar Ratio Rank: 81
FTWG.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. FTWG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SWLD.L) and Invesco FTSE All-World UCITS ETF USD Dist (FTWG.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	FTWG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.94	-0.25
Sortino ratio: Return per unit of downside risk	3.70	4.04	-0.34
Omega ratio: Gain probability vs. loss probability	1.51	1.56	-0.05
Calmar ratio: Return relative to maximum drawdown	4.13	4.26	-0.13
Martin ratio: Return relative to average drawdown	16.62	17.35	-0.73
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. FTWG.L - Sharpe Ratio Comparison

The current SWLD.L Sharpe Ratio is 2.70, which is comparable to the FTWG.L Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of SWLD.L and FTWG.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	FTWG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.94	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.55	-0.63

Drawdowns

SWLD.L vs. FTWG.L - Drawdown Comparison

The maximum SWLD.L drawdown since its inception was -25.85%, which is greater than FTWG.L's maximum drawdown of -17.78%. Use the drawdown chart below to compare losses from any high point for SWLD.L and FTWG.L.

Drawdown Indicators

	SWLD.L	FTWG.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.85%	-17.78%	-8.07%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-7.11%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-18.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.65%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.39%	+0.11%
Average Drawdown Average peak-to-trough decline	-3.17%	-1.99%	-1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.75%	-0.11%

Volatility

SWLD.L vs. FTWG.L - Volatility Comparison

The current volatility for SPDR MSCI World UCITS ETF (SWLD.L) is 2.52%, while Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) has a volatility of 3.03%. This indicates that SWLD.L experiences smaller price fluctuations and is considered to be less risky than FTWG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWLD.L	FTWG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	3.03%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	7.23%	7.59%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	10.11%	10.31%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	11.90%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.26%	11.90%	+3.36%

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

SWLD.L has a 0.12% expense ratio, which is lower than FTWG.L's 0.15% 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

SWLD.L vs. FTWG.L - Dividend Comparison

SWLD.L has not paid dividends to shareholders, while FTWG.L's dividend yield for the trailing twelve months is around 1.21%.

Position	TTM	2025	2024	2023
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	1.21%	1.34%	1.50%	0.70%
SWLD.L SPDR MSCI World UCITS ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

With a correlation of 0.97, SWLD.L and FTWG.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 FTWG.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 FTWG.L?

SWLD.L is cheaper with a 0.12% expense ratio, compared with 0.15% for FTWG.L.

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

SWLD.L tracks MSCI ACWI NR USD, while FTWG.L tracks FTSE All-World Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.12% for SWLD.L and 0.15% for FTWG.L.