SWLD.L vs. WOSC.L

Last updated Jul 18, 2026

SWLD.L (State Street SPDR MSCI World UCITS ETF) and WOSC.L (SPDR MSCI World Small Cap UCITS ETF) are both Global Equities funds from State Street - SWLD.L tracks the MSCI World Index while WOSC.L tracks the MSCI ACWI SMID NR USD. Both are passively managed. Over the past 5 years, SWLD.L returned 12.06%/yr vs 7.90%/yr for WOSC.L. Their correlation of 0.82 suggests significant overlap in exposure. SWLD.L charges 0.12%/yr vs 0.45%/yr for WOSC.L.

Performance

SWLD.L vs. WOSC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in State Street SPDR MSCI World UCITS ETF (SWLD.L) and SPDR MSCI World Small Cap UCITS ETF (WOSC.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 9.02% return, which is significantly lower than WOSC.L's 13.10% return.

SWLD.L

• 1D: -0.92%
• 1M: -1.20%
• 6M: 6.83%
• YTD: 9.02%
• 1Y: 19.89%
• 3Y*: 17.28%
• 5Y*: 12.06%
• 10Y*: —

WOSC.L

• 1D: -0.78%
• 1M: -2.52%
• 6M: 6.68%
• YTD: 13.10%
• 1Y: 24.53%
• 3Y*: 13.69%
• 5Y*: 7.90%
• 10Y*: 9.72%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SWLD.L State Street SPDR MSCI World UCITS ETF	9.02%	12.84%	21.21%	17.69%	-8.06%	23.66%	12.00%	-13.14%
WOSC.L SPDR MSCI World Small Cap UCITS ETF	13.10%	11.77%	9.41%	9.96%	-8.76%	16.26%	12.23%	8.32%

Correlation

The correlation between SWLD.L and WOSC.L is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 26, 2019	0.82

The correlation between SWLD.L and WOSC.L has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

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

Sectors	SWLD.L	WOSC.L
Technology	31.3%	15.4%
Financial Services	15.1%	13.3%
Industrials	10.9%	20.5%
Consumer Cyclical	9.1%	10.6%
Communication Services	8.9%	3.0%
Healthcare	8.6%	9.4%
Consumer Defensive	4.9%	3.9%
Energy	3.8%	5.0%
Basic Materials	3.2%	8.3%
Utilities	2.4%	2.8%
Real Estate	1.7%	7.9%

Return for Risk

SWLD.L vs. WOSC.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: 76
SWLD.L Sharpe Ratio Rank: 75
SWLD.L Sortino Ratio Rank: 74
SWLD.L Omega Ratio Rank: 75
SWLD.L Calmar Ratio Rank: 75
SWLD.L Martin Ratio Rank: 79

WOSC.L

WOSC.L Risk / Return Rank: 75
WOSC.L Sharpe Ratio Rank: 75
WOSC.L Sortino Ratio Rank: 74
WOSC.L Omega Ratio Rank: 72
WOSC.L Calmar Ratio Rank: 78
WOSC.L Martin Ratio Rank: 78

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. WOSC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI World UCITS ETF (SWLD.L) and SPDR MSCI World Small Cap UCITS ETF (WOSC.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SWLD.L	WOSC.L	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.86	+0.04
Sortino ratio: Return per unit of downside risk	2.65	2.63	+0.02
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	3.02	3.12	-0.10
Martin ratio: Return relative to average drawdown	11.76	11.47	+0.29

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

The current SWLD.L Sharpe Ratio is 1.90, which is comparable to the WOSC.L Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of SWLD.L and WOSC.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.

Drawdowns

SWLD.L vs. WOSC.L - Drawdown Comparison

The maximum SWLD.L drawdown since its inception was -32.06%, smaller than the maximum WOSC.L drawdown of -40.46%. Use the drawdown chart below to compare losses from any high point for SWLD.L and WOSC.L.

Drawdown Indicators

	SWLD.L	WOSC.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.06%	-40.46%	+8.40%
Max Drawdown (1Y) Largest decline over 1 year	-6.56%	-7.83%	+1.27%
Max Drawdown (3Y) Largest decline over 3 years	-19.94%	-21.44%	+1.50%
Max Drawdown (5Y) Largest decline over 5 years	-19.94%	-21.44%	+1.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.13%	—
Current Drawdown Current decline from peak	-1.87%	-3.96%	+2.09%
Average Drawdown Average peak-to-trough decline	-6.93%	-11.89%	+4.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	2.13%	-0.44%

Volatility

SWLD.L vs. WOSC.L - Volatility Comparison

The current volatility for State Street SPDR MSCI World UCITS ETF (SWLD.L) is 2.67%, while SPDR MSCI World Small Cap UCITS ETF (WOSC.L) has a volatility of 4.33%. This indicates that SWLD.L experiences smaller price fluctuations and is considered to be less risky than WOSC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWLD.L	WOSC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	4.33%	-1.66%
Volatility (6M) Calculated over the trailing 6-month period	7.79%	10.12%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	10.46%	13.24%	-2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.12%	20.35%	-1.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.94%	22.74%	-1.80%

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

SWLD.L has a 0.12% expense ratio, which is lower than WOSC.L's 0.45% expense ratio.

Dividends

SWLD.L vs. WOSC.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

SWLD.L and WOSC.L have a correlation of 0.80, 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 WOSC.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 WOSC.L?

SWLD.L is cheaper with a 0.12% expense ratio, compared with 0.45% for WOSC.L.

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

SWLD.L tracks MSCI World Index, while WOSC.L tracks MSCI ACWI SMID NR USD. Their fees differ too: 0.12% for SWLD.L and 0.45% for WOSC.L.