SWRD.MI vs. FWRA.L
SWRD.MI (SPDR MSCI World UCITS ETF) and FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) are both Global Equities funds - SWRD.MI tracks the MSCI World Index while FWRA.L tracks the FTSE All-World Index. Both are passively managed. Over the past year, SWRD.MI returned 24.02% vs 27.11% for FWRA.L. Their correlation of 0.87 suggests significant overlap in exposure. SWRD.MI charges 0.12%/yr vs 0.15%/yr for FWRA.L.
Performance
SWRD.MI vs. FWRA.L - Performance Comparison
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Different Trading Currencies
SWRD.MI is traded in EUR, while FWRA.L is traded in USD. To make them comparable, the FWRA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SWRD.MI achieves a 10.85% return, which is significantly lower than FWRA.L's 13.07% return.
SWRD.MI
- 1D
- -0.28%
- 1M
- 5.63%
- YTD
- 10.85%
- 6M
- 11.82%
- 1Y
- 24.02%
- 3Y*
- 17.78%
- 5Y*
- 13.05%
- 10Y*
- —
FWRA.L
- 1D
- -0.43%
- 1M
- 5.60%
- YTD
- 13.07%
- 6M
- 13.98%
- 1Y
- 27.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SWRD.MI vs. FWRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SWRD.MI SPDR MSCI World UCITS ETF | 10.85% | 7.68% | 27.15% | 7.03% |
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation | 13.07% | 7.84% | 25.87% | 7.53% |
Correlation
The correlation between SWRD.MI and FWRA.L is 0.88, 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 | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.87 |
The correlation between SWRD.MI and FWRA.L has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.
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Return for Risk
SWRD.MI vs. FWRA.L — Risk / Return Rank
SWRD.MI
FWRA.L
SWRD.MI vs. FWRA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SWRD.MI) and Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.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.
| SWRD.MI | FWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.41 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.71 | 4.24 | -0.53 |
| Martin ratioReturn relative to average drawdown | 14.75 | 16.01 | -1.27 |
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.MI | FWRA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 2.18 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 1.35 | -0.53 |
Drawdowns
SWRD.MI vs. FWRA.L - Drawdown Comparison
The maximum SWRD.MI drawdown since its inception was -33.74%, which is greater than FWRA.L's maximum drawdown of -20.04%. Use the drawdown chart below to compare losses from any high point for SWRD.MI and FWRA.L.
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Drawdown Indicators
| SWRD.MI | FWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.74% | -20.04% | -13.70% |
Max Drawdown (1Y)Largest decline over 1 year | -6.47% | -6.34% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -21.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.46% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | -0.43% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -2.54% | -2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.68% | -0.05% |
Volatility
SWRD.MI vs. FWRA.L - Volatility Comparison
The current volatility for SPDR MSCI World UCITS ETF (SWRD.MI) is 2.76%, while Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) has a volatility of 3.40%. This indicates that SWRD.MI experiences smaller price fluctuations and is considered to be less risky than FWRA.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.MI | FWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.76% | 3.40% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 9.36% | -1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.11% | 12.38% | -1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.09% | 13.71% | +0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 13.71% | +3.07% |
SWRD.MI vs. FWRA.L - Expense Ratio Comparison
SWRD.MI has a 0.12% expense ratio, which is lower than FWRA.L's 0.15% 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.MI vs. FWRA.L - Dividend Comparison
Neither SWRD.MI nor FWRA.L has paid dividends to shareholders.
Frequently Asked Questions
SWRD.MI and FWRA.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SWRD.MI is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SWRD.MI is cheaper with a 0.12% expense ratio, compared with 0.15% for FWRA.L.
SWRD.MI tracks MSCI World Index, while FWRA.L tracks FTSE All-World Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.12% for SWRD.MI and 0.15% for FWRA.L.
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