SWRD.MI vs. GLDV.MI

Last updated Jun 5, 2026

SWRD.MI (SPDR MSCI World UCITS ETF) and GLDV.MI (SPDR S&P Global Dividend Aristocrats UCITS) are both exchange-traded funds - SWRD.MI is a Global Equities fund tracking the MSCI World Index, while GLDV.MI is a Global Equity Income fund tracking the S&P Global BMI Index. Both are passively managed. Over the past 5 years, SWRD.MI returned 13.04%/yr vs 6.54%/yr for GLDV.MI. A 0.62 correlation means they provide meaningful diversification when combined. SWRD.MI charges 0.12%/yr vs 0.45%/yr for GLDV.MI.

Performance

SWRD.MI vs. GLDV.MI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI World UCITS ETF (SWRD.MI) and SPDR S&P Global Dividend Aristocrats UCITS (GLDV.MI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWRD.MI achieves a 10.80% return, which is significantly higher than GLDV.MI's 7.40% return.

SWRD.MI

• 1D: -0.04%
• 1M: 4.81%
• YTD: 10.80%
• 6M: 11.33%
• 1Y: 23.90%
• 3Y*: 17.67%
• 5Y*: 13.04%
• 10Y*: —

GLDV.MI

• 1D: 0.51%
• 1M: 0.26%
• YTD: 7.40%
• 6M: 8.14%
• 1Y: 15.47%
• 3Y*: 11.60%
• 5Y*: 6.54%
• 10Y*: 6.23%

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

SWRD.MI vs. GLDV.MI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SWRD.MI SPDR MSCI World UCITS ETF	10.80%	7.68%	27.15%	20.04%	-13.69%	32.91%	5.96%	6.07%
GLDV.MI SPDR S&P Global Dividend Aristocrats UCITS	7.40%	4.55%	14.31%	3.25%	-1.62%	25.05%	-16.89%	2.97%

Correlation

The correlation between SWRD.MI and GLDV.MI is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019	0.62

The correlation between SWRD.MI and GLDV.MI shifts across timeframes, from 0.53 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SWRD.MI vs. GLDV.MI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SWRD.MI

SWRD.MI Risk / Return Rank: 71
SWRD.MI Sharpe Ratio Rank: 67
SWRD.MI Sortino Ratio Rank: 67
SWRD.MI Omega Ratio Rank: 70
SWRD.MI Calmar Ratio Rank: 74
SWRD.MI Martin Ratio Rank: 77

GLDV.MI

GLDV.MI Risk / Return Rank: 52
GLDV.MI Sharpe Ratio Rank: 51
GLDV.MI Sortino Ratio Rank: 52
GLDV.MI Omega Ratio Rank: 47
GLDV.MI Calmar Ratio Rank: 57
GLDV.MI Martin Ratio Rank: 53

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.

SWRD.MI vs. GLDV.MI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SWRD.MI) and SPDR S&P Global Dividend Aristocrats UCITS (GLDV.MI). 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	GLDV.MI	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.71	+0.45
Sortino ratio: Return per unit of downside risk	3.02	2.48	+0.53
Omega ratio: Gain probability vs. loss probability	1.41	1.29	+0.12
Calmar ratio: Return relative to maximum drawdown	3.69	2.81	+0.88
Martin ratio: Return relative to average drawdown	14.67	9.02	+5.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWRD.MI vs. GLDV.MI - Sharpe Ratio Comparison

The current SWRD.MI Sharpe Ratio is 2.16, which is comparable to the GLDV.MI Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of SWRD.MI and GLDV.MI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SWRD.MI	GLDV.MI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	1.71	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.53	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.48	+0.34

Drawdowns

SWRD.MI vs. GLDV.MI - Drawdown Comparison

The maximum SWRD.MI drawdown since its inception was -33.74%, smaller than the maximum GLDV.MI drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for SWRD.MI and GLDV.MI.

Drawdown Indicators

	SWRD.MI	GLDV.MI	Difference
Max Drawdown Largest peak-to-trough decline	-33.74%	-41.02%	+7.28%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-5.51%	-0.96%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-16.81%	-4.65%
Max Drawdown (5Y) Largest decline over 5 years	-21.46%	-18.38%	-3.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.02%	—
Current Drawdown Current decline from peak	-0.32%	-1.29%	+0.97%
Average Drawdown Average peak-to-trough decline	-4.63%	-6.84%	+2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.72%	-0.09%

Volatility

SWRD.MI vs. GLDV.MI - Volatility Comparison

SPDR MSCI World UCITS ETF (SWRD.MI) has a higher volatility of 2.61% compared to SPDR S&P Global Dividend Aristocrats UCITS (GLDV.MI) at 2.37%. This indicates that SWRD.MI's price experiences larger fluctuations and is considered to be riskier than GLDV.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWRD.MI	GLDV.MI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	2.37%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	7.70%	6.50%	+1.20%
Volatility (1Y) Calculated over the trailing 1-year period	11.05%	9.03%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.09%	12.35%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.77%	14.78%	+1.99%

SWRD.MI vs. GLDV.MI - Expense Ratio Comparison

SWRD.MI has a 0.12% expense ratio, which is lower than GLDV.MI's 0.45% expense ratio.

Dividends

SWRD.MI vs. GLDV.MI - Dividend Comparison

SWRD.MI has not paid dividends to shareholders, while GLDV.MI's dividend yield for the trailing twelve months is around 3.89%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLDV.MI SPDR S&P Global Dividend Aristocrats UCITS	3.89%	4.25%	3.73%	4.25%	4.51%	3.57%	3.97%	3.46%	5.10%	3.36%	3.62%	3.80%
SWRD.MI 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

Can I hold both SWRD.MI and GLDV.MI in my portfolio?

SWRD.MI and GLDV.MI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SWRD.MI or GLDV.MI?

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.

Which ETF is cheaper, SWRD.MI or GLDV.MI?

SWRD.MI is cheaper with a 0.12% expense ratio, compared with 0.45% for GLDV.MI.

What is the main difference between SWRD.MI and GLDV.MI?

SWRD.MI is categorized as Global Equities, while GLDV.MI is Global Equity Income. SWRD.MI tracks MSCI World Index, while GLDV.MI tracks S&P Global BMI Index. Their fees differ too: 0.12% for SWRD.MI and 0.45% for GLDV.MI.