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

SWLD.L vs. SPX5.L

Last updated Jun 4, 2026

SWLD.L (SPDR MSCI World UCITS ETF) and SPX5.L (SPDR S&P 500 UCITS ETF) are both exchange-traded funds - SWLD.L is a Global Equities fund tracking the MSCI ACWI NR USD, while SPX5.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, SWLD.L returned 13.15%/yr vs 14.91%/yr for SPX5.L. With a 0.96 correlation, they move nearly in lockstep. SWLD.L charges 0.12%/yr vs 0.09%/yr for SPX5.L.

Performance

SWLD.L vs. SPX5.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 S&P 500 UCITS ETF (SPX5.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SWLD.L achieves a 9.96% return, which is significantly lower than SPX5.L's 10.48% 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*
—

SPX5.L

1D
-0.28%
1M
5.91%
YTD
10.48%
6M
10.36%
1Y
29.09%
3Y*
19.31%
5Y*
14.91%
10Y*
16.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
SWLD.L
SPDR MSCI World UCITS ETF		9.96%12.85%21.19%17.70%-8.06%23.66%12.00%14.48%
SPX5.L
SPDR S&P 500 UCITS ETF		10.48%9.34%27.47%19.75%-9.01%30.96%13.52%17.05%

Correlation

The correlation between SWLD.L and SPX5.L is 0.95 - 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 SWLD.L and SPX5.L has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

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

Sectors
SWLD.L
SPX5.L

Technology

28.3%
35.6%

Financial Services

15.7%
11.8%

Industrials

11.4%
8.3%

Consumer Cyclical

9.3%
10.1%

Communication Services

9.2%
11.2%

Healthcare

8.8%
8.5%

Consumer Defensive

5.2%
4.9%

Energy

4.2%
3.5%

Basic Materials

3.3%
1.8%

Utilities

2.7%
2.3%

Real Estate

1.9%
1.9%

Technology

SWLD.L
28.3%
SPX5.L
35.6%

Financial Services

SWLD.L
15.7%
SPX5.L
11.8%

Industrials

SWLD.L
11.4%
SPX5.L
8.3%

Consumer Cyclical

SWLD.L
9.3%
SPX5.L
10.1%

Communication Services

SWLD.L
9.2%
SPX5.L
11.2%

Healthcare

SWLD.L
8.8%
SPX5.L
8.5%

Consumer Defensive

SWLD.L
5.2%
SPX5.L
4.9%

Energy

SWLD.L
4.2%
SPX5.L
3.5%

Basic Materials

SWLD.L
3.3%
SPX5.L
1.8%

Utilities

SWLD.L
2.7%
SPX5.L
2.3%

Real Estate

SWLD.L
1.9%
SPX5.L
1.9%

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SPDR MSCI World UCITS ETF

SPDR S&P 500 UCITS ETF

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
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

Return for Risk

SWLD.L vs. SPX5.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: 8181
Overall Rank
SWLD.L Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
SWLD.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
SWLD.L Omega Ratio Rank: 8383
Omega Ratio Rank
SWLD.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
SWLD.L Martin Ratio Rank: 8282
Martin Ratio Rank
SPX5.L
SPX5.L Risk / Return Rank: 8181
Overall Rank
SPX5.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SPX5.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
SPX5.L Omega Ratio Rank: 8484
Omega Ratio Rank
SPX5.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
SPX5.L Martin Ratio Rank: 7777
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.

SWLD.L vs. SPX5.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 S&P 500 UCITS ETF (SPX5.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.LSPX5.LDifference
Sharpe ratioReturn per unit of total volatility
2.70
2.76

-0.06

Sortino ratioReturn per unit of downside risk
3.70
3.70

0.00

Omega ratioGain probability vs. loss probability

1.51

1.52

0.00

Calmar ratioReturn relative to maximum drawdown

4.13

4.09

+0.04

Martin ratioReturn relative to average drawdown

16.62

15.04

+1.58

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. SPX5.L - Sharpe Ratio Comparison

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

SWLD.LSPX5.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.70

2.76

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.00

1.05

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.05

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.92

1.04

-0.12

Drawdowns

SWLD.L vs. SPX5.L - Drawdown Comparison

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

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Drawdown Indicators

SWLD.LSPX5.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.85%

-25.45%

-0.40%

Max Drawdown (1Y)

Largest decline over 1 year

-6.57%

-7.07%

+0.50%

Max Drawdown (3Y)

Largest decline over 3 years

-18.65%

-20.90%

+2.25%

Max Drawdown (5Y)

Largest decline over 5 years

-18.65%

-20.90%

+2.25%

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.45%

—

Current Drawdown

Current decline from peak

-0.28%

-0.28%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.17%

-3.18%

+0.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.64%

1.93%

-0.29%

Volatility

SWLD.L vs. SPX5.L - Volatility Comparison

The current volatility for SPDR MSCI World UCITS ETF (SWLD.L) is 2.52%, while SPDR S&P 500 UCITS ETF (SPX5.L) has a volatility of 2.67%. This indicates that SWLD.L experiences smaller price fluctuations and is considered to be less risky than SPX5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SWLD.LSPX5.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.52%

2.67%

-0.15%

Volatility (6M)

Calculated over the trailing 6-month period

7.23%

7.17%

+0.06%

Volatility (1Y)

Calculated over the trailing 1-year period

10.11%

10.57%

-0.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.21%

14.22%

-1.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.26%

15.52%

-0.26%

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

SWLD.L has a 0.12% expense ratio, which is higher than SPX5.L's 0.09% expense ratio. However, 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. SPX5.L - Dividend Comparison

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

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 0.95, SWLD.L and SPX5.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.

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

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