SWRD.L vs. IMAE.AS
SWRD.L (SPDR MSCI World UCITS ETF) and IMAE.AS (iShares Core MSCI Europe UCITS ETF EUR (Acc)) are both exchange-traded funds - SWRD.L is a Large Cap Growth Equities fund tracking the MSCI World Index, while IMAE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, SWRD.L returned 11.98%/yr vs 8.94%/yr for IMAE.AS. Their correlation of 0.80 suggests significant overlap in exposure. SWRD.L charges 0.12%/yr vs 0.20%/yr for IMAE.AS.
Performance
SWRD.L vs. IMAE.AS - Performance Comparison
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Different Trading Currencies
SWRD.L is traded in USD, while IMAE.AS is traded in EUR. To make them comparable, the IMAE.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SWRD.L achieves a 9.88% return, which is significantly higher than IMAE.AS's 6.29% return.
SWRD.L
- 1D
- 0.06%
- 1M
- 4.05%
- YTD
- 9.88%
- 6M
- 11.00%
- 1Y
- 26.07%
- 3Y*
- 20.92%
- 5Y*
- 11.98%
- 10Y*
- —
IMAE.AS
- 1D
- 0.65%
- 1M
- 2.62%
- YTD
- 6.29%
- 6M
- 9.52%
- 1Y
- 18.12%
- 3Y*
- 16.76%
- 5Y*
- 8.94%
- 10Y*
- 9.41%
SWRD.L vs. IMAE.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SWRD.L SPDR MSCI World UCITS ETF | 9.88% | 21.09% | 19.26% | 24.41% | -17.81% | 22.11% | 15.89% | 14.63% |
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (Acc) | 6.29% | 35.83% | 2.15% | 19.65% | -14.76% | 17.10% | 5.52% | 12.15% |
Correlation
The correlation between SWRD.L and IMAE.AS is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019 | 0.80 |
The correlation between SWRD.L and IMAE.AS has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.
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Return for Risk
SWRD.L vs. IMAE.AS — Risk / Return Rank
SWRD.L
IMAE.AS
SWRD.L vs. IMAE.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SWRD.L) and iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS). 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.
| SWRD.L | IMAE.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.22 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 1.56 | +1.56 |
| Martin ratioReturn relative to average drawdown | 13.22 | 5.57 | +7.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SWRD.L | IMAE.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 1.22 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.51 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.37 | +0.46 |
Drawdowns
SWRD.L vs. IMAE.AS - Drawdown Comparison
The maximum SWRD.L drawdown since its inception was -34.10%, roughly equal to the maximum IMAE.AS drawdown of -35.83%. Use the drawdown chart below to compare losses from any high point for SWRD.L and IMAE.AS.
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Drawdown Indicators
| SWRD.L | IMAE.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.10% | -35.83% | +1.73% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -11.45% | +3.14% |
Max Drawdown (3Y)Largest decline over 3 years | -16.89% | -14.96% | -1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -25.54% | -30.80% | +5.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.83% | — |
Current DrawdownCurrent decline from peak | -0.49% | -1.94% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -8.18% | +3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 3.23% | -1.26% |
Volatility
SWRD.L vs. IMAE.AS - Volatility Comparison
The current volatility for SPDR MSCI World UCITS ETF (SWRD.L) is 3.33%, while iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) has a volatility of 4.96%. This indicates that SWRD.L experiences smaller price fluctuations and is considered to be less risky than IMAE.AS 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 | IMAE.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 4.96% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 9.04% | 12.31% | -3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.81% | 14.71% | -2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.52% | 17.34% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 17.70% | -0.44% |
SWRD.L vs. IMAE.AS - Expense Ratio Comparison
SWRD.L has a 0.12% expense ratio, which is lower than IMAE.AS's 0.20% 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
SWRD.L vs. IMAE.AS - Dividend Comparison
Neither SWRD.L nor IMAE.AS has paid dividends to shareholders.
Frequently Asked Questions
SWRD.L and IMAE.AS have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SWRD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SWRD.L is cheaper with a 0.12% expense ratio, compared with 0.20% for IMAE.AS.
SWRD.L is categorized as Large Cap Growth Equities, while IMAE.AS is Europe Equities. SWRD.L tracks MSCI World Index, while IMAE.AS tracks MSCI Europe NR EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for SWRD.L and 0.20% for IMAE.AS.
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