TECW.L vs. SHLD.L
TECW.L (SPDR MSCI World Technology UCITS ETF) and SHLD.L (iShares Digital Security UCITS ETF USD (Dist)) are both Technology Equities funds - TECW.L tracks the MSCI World/Information Tech NR USD while SHLD.L tracks the STOXX Global Digital Security Open Net Index in USD. Both are passively managed. Over the past 5 years, TECW.L returned 10.91%/yr vs 9.40%/yr for SHLD.L. A 0.62 correlation means they provide meaningful diversification when combined. TECW.L charges 0.30%/yr vs 0.40%/yr for SHLD.L.
Performance
TECW.L vs. SHLD.L - Performance Comparison
Loading charts...
Different Trading Currencies
TECW.L is traded in GBP, while SHLD.L is traded in USD. To make them comparable, the SHLD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, TECW.L achieves a 16.43% return, which is significantly lower than SHLD.L's 17.35% return.
TECW.L
- 1D
- 0.00%
- 1M
- -6.20%
- 6M
- 19.12%
- YTD
- 16.43%
- 1Y
- 28.77%
- 3Y*
- 25.71%
- 5Y*
- 10.91%
- 10Y*
- 19.41%
- ALL TIME*
- 16.22%
SHLD.L
- 1D
- 0.53%
- 1M
- 4.45%
- 6M
- 18.99%
- YTD
- 17.35%
- 1Y
- 21.55%
- 3Y*
- 17.93%
- 5Y*
- 9.40%
- 10Y*
- —
- ALL TIME*
- 12.89%
TECW.L vs. SHLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TECW.L SPDR MSCI World Technology UCITS ETF | 16.43% | 13.84% | 36.32% | 46.35% | -42.91% | 29.62% | 43.31% | 47.39% | -6.13% |
SHLD.L iShares Digital Security UCITS ETF USD (Dist) | 17.35% | 3.57% | 18.59% | 27.22% | -20.68% | 17.61% | 23.48% | 23.39% | -2.16% |
Correlation
The correlation between TECW.L and SHLD.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2018 | 0.62 |
The correlation between TECW.L and SHLD.L has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TECW.L vs. SHLD.L — Risk / Return Rank
TECW.L
SHLD.L
TECW.L vs. SHLD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Technology UCITS ETF (TECW.L) and iShares Digital Security UCITS ETF USD (Dist) (SHLD.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.
| TECW.L | SHLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.19 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 1.71 | +0.03 |
| Martin ratioReturn relative to average drawdown | 4.18 | 3.67 | +0.51 |
Loading charts...
Drawdowns
TECW.L vs. SHLD.L - Drawdown Comparison
The maximum TECW.L drawdown since its inception was -44.86%, which is greater than SHLD.L's maximum drawdown of -27.24%. Use the drawdown chart below to compare losses from any high point for TECW.L and SHLD.L.
Loading charts...
Drawdown Indicators
| TECW.L | SHLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -27.24% | -17.62% |
Max Drawdown (1Y)Largest decline over 1 year | -16.66% | -12.66% | -4.00% |
Max Drawdown (3Y)Largest decline over 3 years | -28.26% | -24.26% | -4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -44.86% | -27.24% | -17.62% |
Max Drawdown (10Y)Largest decline over 10 years | -44.86% | — | — |
Current DrawdownCurrent decline from peak | -8.52% | -4.77% | -3.75% |
Average DrawdownAverage peak-to-trough decline | -7.72% | -7.83% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.90% | 5.90% | +1.00% |
Volatility
TECW.L vs. SHLD.L - Volatility Comparison
SPDR MSCI World Technology UCITS ETF (TECW.L) has a higher volatility of 7.76% compared to iShares Digital Security UCITS ETF USD (Dist) (SHLD.L) at 7.10%. This indicates that TECW.L's price experiences larger fluctuations and is considered to be riskier than SHLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TECW.L | SHLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.76% | 7.10% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 16.55% | 17.81% | -1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.54% | 21.38% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.58% | 20.32% | +4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.45% | 20.35% | +3.10% |
TECW.L vs. SHLD.L - Expense Ratio Comparison
TECW.L has a 0.30% expense ratio, which is lower than SHLD.L's 0.40% expense ratio.
Dividends
TECW.L vs. SHLD.L - Dividend Comparison
TECW.L has not paid dividends to shareholders, while SHLD.L's dividend yield for the trailing twelve months is around 0.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SHLD.L iShares Digital Security UCITS ETF USD (Dist) | 0.35% | 0.39% | 0.48% | 0.43% | 0.63% | 0.66% | 0.84% | 1.00% |
TECW.L SPDR MSCI World Technology UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TECW.L and SHLD.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TECW.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TECW.L is cheaper with a 0.30% expense ratio, compared with 0.40% for SHLD.L.
TECW.L tracks MSCI World/Information Tech NR USD, while SHLD.L tracks STOXX Global Digital Security Open Net Index in USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for TECW.L and 0.40% for SHLD.L.
Find the right allocation for TECW.L and SHLD.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer