SWRD.L vs. IBTA.L
SWRD.L (State Street SPDR MSCI World UCITS ETF) and IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both exchange-traded funds - SWRD.L is a Global Equities fund tracking the MSCI World Index, while IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, SWRD.L returned 11.32%/yr vs 1.92%/yr for IBTA.L. At a 0.00 correlation, their price movements are largely independent. SWRD.L charges 0.12%/yr vs 0.07%/yr for IBTA.L.
Performance
SWRD.L vs. IBTA.L - Performance Comparison
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Returns By Period
In the year-to-date period, SWRD.L achieves a 7.74% return, which is significantly higher than IBTA.L's 0.51% return.
SWRD.L
- 1D
- -0.23%
- 1M
- -1.30%
- YTD
- 7.74%
- 6M
- 7.43%
- 1Y
- 22.24%
- 3Y*
- 19.78%
- 5Y*
- 11.32%
- 10Y*
- —
IBTA.L
- 1D
- 0.00%
- 1M
- 0.34%
- YTD
- 0.51%
- 6M
- 0.85%
- 1Y
- 3.12%
- 3Y*
- 4.33%
- 5Y*
- 1.92%
- 10Y*
- —
SWRD.L vs. IBTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SWRD.L State Street SPDR MSCI World UCITS ETF | 7.74% | 21.08% | 19.29% | 24.40% | -17.81% | 22.11% | 15.89% | 14.62% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.51% | 5.34% | 4.07% | 4.21% | -3.75% | -0.64% | 3.14% | 3.19% |
Correlation
The correlation between SWRD.L and IBTA.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2019 | 0.00 |
The correlation between SWRD.L and IBTA.L shifts across timeframes, from 0.00 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SWRD.L vs. IBTA.L — Risk / Return Rank
SWRD.L
IBTA.L
SWRD.L vs. IBTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI World UCITS ETF (SWRD.L) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.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.
| SWRD.L | IBTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.55 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 4.62 | -1.96 |
| Martin ratioReturn relative to average drawdown | 10.95 | 15.80 | -4.85 |
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Drawdowns
SWRD.L vs. IBTA.L - Drawdown Comparison
The maximum SWRD.L drawdown since its inception was -34.10%, which is greater than IBTA.L's maximum drawdown of -5.80%. Use the drawdown chart below to compare losses from any high point for SWRD.L and IBTA.L.
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Drawdown Indicators
| SWRD.L | IBTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.10% | -5.80% | -28.30% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -0.67% | -7.64% |
Max Drawdown (3Y)Largest decline over 3 years | -16.89% | -0.89% | -16.00% |
Max Drawdown (5Y)Largest decline over 5 years | -25.54% | -5.70% | -19.84% |
Current DrawdownCurrent decline from peak | -2.42% | 0.00% | -2.42% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -0.96% | -4.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 0.20% | +1.83% |
Volatility
SWRD.L vs. IBTA.L - Volatility Comparison
State Street SPDR MSCI World UCITS ETF (SWRD.L) has a higher volatility of 3.81% compared to iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) at 0.52%. This indicates that SWRD.L's price experiences larger fluctuations and is considered to be riskier than IBTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWRD.L | IBTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 0.52% | +3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 9.61% | 1.13% | +8.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.10% | 1.58% | +10.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.58% | 2.17% | +13.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.22% | 1.93% | +15.29% |
SWRD.L vs. IBTA.L - Expense Ratio Comparison
SWRD.L has a 0.12% expense ratio, which is higher than IBTA.L's 0.07% 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
SWRD.L vs. IBTA.L - Dividend Comparison
Neither SWRD.L nor IBTA.L has paid dividends to shareholders.
Frequently Asked Questions
SWRD.L and IBTA.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.12% for SWRD.L.
SWRD.L is categorized as Global Equities, while IBTA.L is Government Bonds. SWRD.L tracks MSCI World Index, while IBTA.L tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for SWRD.L and 0.07% for IBTA.L.
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