TSGB.L vs. MWEQ.L

Last updated Jun 5, 2026

TSGB.L (VanEck Sustainable World Equal Weight UCITS ETF A) and MWEQ.L (Invesco MSCI World Equal Weight UCITS ETF Acc) are both Global Equities funds - TSGB.L tracks the MSCI ACWI NR USD while MWEQ.L tracks the MSCI World Equal Weighted Net Total Return USD Index. Both are passively managed. Over the past year, TSGB.L returned 28.93% vs 19.98% for MWEQ.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

TSGB.L vs. MWEQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Sustainable World Equal Weight UCITS ETF A (TSGB.L) and Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TSGB.L is traded in GBP, while MWEQ.L is traded in USD. To make them comparable, the MWEQ.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, TSGB.L achieves a 12.75% return, which is significantly higher than MWEQ.L's 8.38% return.

TSGB.L

• 1D: 0.08%
• 1M: 4.90%
• YTD: 12.75%
• 6M: 13.89%
• 1Y: 28.93%
• 3Y*: 17.68%
• 5Y*: 12.11%
• 10Y*: —

MWEQ.L

• 1D: 0.25%
• 1M: 2.54%
• YTD: 8.38%
• 6M: 8.71%
• 1Y: 19.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSGB.L vs. MWEQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSGB.L VanEck Sustainable World Equal Weight UCITS ETF A	12.75%	19.46%	4.26%
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF Acc	8.38%	13.27%	5.14%

Correlation

The correlation between TSGB.L and MWEQ.L 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 (All Time) Calculated using the full available price history since Sep 5, 2024	0.79

The correlation between TSGB.L and MWEQ.L has been stable across timeframes, ranging from 0.79 to 0.79 - a consistent structural relationship.

Return for Risk

TSGB.L vs. MWEQ.L — Risk / Return Rank

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

TSGB.L

TSGB.L Risk / Return Rank: 75
TSGB.L Sharpe Ratio Rank: 76
TSGB.L Sortino Ratio Rank: 79
TSGB.L Omega Ratio Rank: 79
TSGB.L Calmar Ratio Rank: 68
TSGB.L Martin Ratio Rank: 70

MWEQ.L

MWEQ.L Risk / Return Rank: 45
MWEQ.L Sharpe Ratio Rank: 43
MWEQ.L Sortino Ratio Rank: 46
MWEQ.L Omega Ratio Rank: 43
MWEQ.L Calmar Ratio Rank: 44
MWEQ.L Martin Ratio Rank: 50

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.

TSGB.L vs. MWEQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Sustainable World Equal Weight UCITS ETF A (TSGB.L) and Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.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.

	TSGB.L	MWEQ.L	Difference
Sharpe ratio: Return per unit of total volatility	2.44	1.71	+0.73
Sortino ratio: Return per unit of downside risk	3.49	2.37	+1.13
Omega ratio: Gain probability vs. loss probability	1.46	1.31	+0.15
Calmar ratio: Return relative to maximum drawdown	3.34	2.69	+0.64
Martin ratio: Return relative to average drawdown	12.99	9.89	+3.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSGB.L vs. MWEQ.L - Sharpe Ratio Comparison

The current TSGB.L Sharpe Ratio is 2.44, which is higher than the MWEQ.L Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of TSGB.L and MWEQ.L, 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

	TSGB.L	MWEQ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	1.71	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	1.21	-0.39

Drawdowns

TSGB.L vs. MWEQ.L - Drawdown Comparison

The maximum TSGB.L drawdown since its inception was -26.20%, which is greater than MWEQ.L's maximum drawdown of -14.33%. Use the drawdown chart below to compare losses from any high point for TSGB.L and MWEQ.L.

Drawdown Indicators

	TSGB.L	MWEQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.20%	-14.33%	-11.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.80%	-7.35%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-16.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.64%	—	—
Current Drawdown Current decline from peak	-0.01%	-0.11%	+0.10%
Average Drawdown Average peak-to-trough decline	-3.41%	-1.96%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.00%	+0.26%

Volatility

TSGB.L vs. MWEQ.L - Volatility Comparison

VanEck Sustainable World Equal Weight UCITS ETF A (TSGB.L) has a higher volatility of 3.24% compared to Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) at 2.98%. This indicates that TSGB.L's price experiences larger fluctuations and is considered to be riskier than MWEQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSGB.L	MWEQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	2.98%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	9.65%	9.46%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	11.59%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.92%	13.05%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.93%	13.05%	+1.88%

TSGB.L vs. MWEQ.L - Expense Ratio Comparison

Both TSGB.L and MWEQ.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

TSGB.L vs. MWEQ.L - Dividend Comparison

TSGB.L's dividend yield for the trailing twelve months is around 2.11%, while MWEQ.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TSGB.L VanEck Sustainable World Equal Weight UCITS ETF A	2.11%	2.23%	2.63%	2.56%	2.67%	1.13%

Frequently Asked Questions

Can I hold both TSGB.L and MWEQ.L in my portfolio?

TSGB.L and MWEQ.L 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.

Which ETF is better, TSGB.L or MWEQ.L?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSGB.L or MWEQ.L?

TSGB.L and MWEQ.L have the same expense ratio: 0.20% per year.

What is the main difference between TSGB.L and MWEQ.L?

TSGB.L tracks MSCI ACWI NR USD, while MWEQ.L tracks MSCI World Equal Weighted Net Total Return USD Index. They also come from different issuers: VanEck and Invesco.