SWLD.L vs. LCWL.L

Last updated Jun 4, 2026

SWLD.L (SPDR MSCI World UCITS ETF) and LCWL.L (Lyxor Core MSCI World (DR) UCITS ETF) are both Global Equities funds tracking the MSCI ACWI NR USD, from State Street and Amundi respectively. Both are passively managed. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.

Performance

SWLD.L vs. LCWL.L - Performance Comparison

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

Returns By Period

SWLD.L

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

LCWL.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SWLD.L vs. LCWL.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%
LCWL.L Lyxor Core MSCI World (DR) UCITS ETF	0.00%	3.27%	21.01%	17.50%	-9.07%	24.30%	12.00%	14.24%

Correlation

The correlation between SWLD.L and LCWL.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019	0.89

The correlation between SWLD.L and LCWL.L shifts across timeframes, from 0.69 (3 years) to 0.89 (all time), reflecting how their relationship changes across market environments.

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

Sectors	SWLD.L	LCWL.L
Technology	28.3%	26.3%
Financial Services	15.7%	16.0%
Industrials	11.4%	10.0%
Consumer Cyclical	9.3%	11.1%
Communication Services	9.2%	8.7%
Healthcare	8.8%	10.7%
Consumer Defensive	5.2%	5.9%
Energy	4.2%	3.7%
Basic Materials	3.3%	3.1%
Utilities	2.7%	2.6%
Real Estate	1.9%	2.1%

Return for Risk

SWLD.L vs. LCWL.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

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. LCWL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SWLD.L) and Lyxor Core MSCI World (DR) UCITS ETF (LCWL.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	LCWL.L	Difference
Sharpe ratio: Return per unit of total volatility	2.70	—	—
Sortino ratio: Return per unit of downside risk	3.70	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	4.13	—	—
Martin ratio: Return relative to average drawdown	16.62	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SWLD.L	LCWL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	—	—
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	—	—

Drawdowns

Drawdown Indicators

	SWLD.L	LCWL.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.85%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	—	—
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%	—	—
Average Drawdown Average peak-to-trough decline	-3.17%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	—	—

Volatility

Volatility by Period

	SWLD.L	LCWL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.11%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.26%	—	—

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

Both SWLD.L and LCWL.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SWLD.L vs. LCWL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

SWLD.L and LCWL.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

SWLD.L and LCWL.L have the same expense ratio: 0.12% per year.

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

Both ETFs track MSCI ACWI NR USD. They also come from different issuers: State Street and Amundi.