TWGGX vs. ACWI

Last updated Jun 4, 2026

TWGGX (American Century Focused Global Growth Fund) and ACWI (iShares MSCI ACWI ETF) are both Global Equities funds. Over the past 10 years, TWGGX returned 11.72%/yr vs 12.85%/yr for ACWI. Their correlation of 0.94 suggests significant overlap in exposure. TWGGX charges 1.10%/yr vs 0.32%/yr for ACWI.

Performance

TWGGX vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Focused Global Growth Fund (TWGGX) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TWGGX achieves a 6.50% return, which is significantly lower than ACWI's 12.13% return. Over the past 10 years, TWGGX has underperformed ACWI with an annualized return of 11.72%, while ACWI has yielded a comparatively higher 12.85% annualized return.

TWGGX

• 1D: 0.41%
• 1M: 5.12%
• YTD: 6.50%
• 6M: 6.66%
• 1Y: 13.04%
• 3Y*: 14.68%
• 5Y*: 5.93%
• 10Y*: 11.72%

ACWI

• 1D: -0.83%
• 1M: 5.28%
• YTD: 12.13%
• 6M: 12.96%
• 1Y: 29.18%
• 3Y*: 21.15%
• 5Y*: 11.28%
• 10Y*: 12.85%

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

TWGGX vs. ACWI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWGGX American Century Focused Global Growth Fund	6.50%	16.50%	13.99%	18.49%	-22.76%	13.83%	27.88%	36.20%	-6.32%	27.49%
ACWI iShares MSCI ACWI ETF	12.13%	22.41%	17.45%	22.27%	-18.39%	18.66%	16.34%	26.59%	-9.19%	24.33%

Correlation

The correlation between TWGGX and ACWI is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008	0.94

The correlation between TWGGX and ACWI has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

TWGGX vs. ACWI — Risk / Return Rank

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

TWGGX

TWGGX Risk / Return Rank: 11
TWGGX Sharpe Ratio Rank: 12
TWGGX Sortino Ratio Rank: 12
TWGGX Omega Ratio Rank: 12
TWGGX Calmar Ratio Rank: 9
TWGGX Martin Ratio Rank: 13

ACWI

ACWI Risk / Return Rank: 66
ACWI Sharpe Ratio Rank: 68
ACWI Sortino Ratio Rank: 67
ACWI Omega Ratio Rank: 67
ACWI Calmar Ratio Rank: 59
ACWI Martin Ratio Rank: 71

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.

TWGGX vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Focused Global Growth Fund (TWGGX) and iShares MSCI ACWI ETF (ACWI). 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.

	TWGGX	ACWI	Difference
Sharpe ratio: Return per unit of total volatility	0.90	2.29	-1.39
Sortino ratio: Return per unit of downside risk	1.36	3.17	-1.81
Omega ratio: Gain probability vs. loss probability	1.17	1.41	-0.25
Calmar ratio: Return relative to maximum drawdown	0.93	3.01	-2.08
Martin ratio: Return relative to average drawdown	3.85	13.53	-9.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TWGGX vs. ACWI - Sharpe Ratio Comparison

The current TWGGX Sharpe Ratio is 0.90, which is lower than the ACWI Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of TWGGX and ACWI, 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

	TWGGX	ACWI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	2.29	-1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.71	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.75	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.43	+0.06

Drawdowns

TWGGX vs. ACWI - Drawdown Comparison

The maximum TWGGX drawdown since its inception was -58.08%, roughly equal to the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for TWGGX and ACWI.

Drawdown Indicators

	TWGGX	ACWI	Difference
Max Drawdown Largest peak-to-trough decline	-58.08%	-56.00%	-2.08%
Max Drawdown (1Y) Largest decline over 1 year	-14.04%	-9.73%	-4.31%
Max Drawdown (3Y) Largest decline over 3 years	-17.80%	-16.55%	-1.25%
Max Drawdown (5Y) Largest decline over 5 years	-31.23%	-26.42%	-4.81%
Max Drawdown (10Y) Largest decline over 10 years	-32.06%	-33.53%	+1.47%
Current Drawdown Current decline from peak	0.00%	-0.83%	+0.83%
Average Drawdown Average peak-to-trough decline	-15.06%	-8.61%	-6.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	2.16%	+1.24%

Volatility

TWGGX vs. ACWI - Volatility Comparison

American Century Focused Global Growth Fund (TWGGX) has a higher volatility of 4.43% compared to iShares MSCI ACWI ETF (ACWI) at 3.93%. This indicates that TWGGX's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWGGX	ACWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	3.93%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	10.29%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	12.78%	+1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	16.05%	+2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	17.11%	+1.60%

TWGGX vs. ACWI - Expense Ratio Comparison

TWGGX has a 1.10% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

TWGGX vs. ACWI - Dividend Comparison

TWGGX's dividend yield for the trailing twelve months is around 8.47%, more than ACWI's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.38%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
TWGGX American Century Focused Global Growth Fund	8.47%	9.02%	14.90%	3.81%	12.67%	13.16%	11.05%	17.27%	11.31%	12.90%	0.58%	8.61%

Frequently Asked Questions

Can I hold both TWGGX and ACWI in my portfolio?

With a correlation of 0.92, TWGGX and ACWI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TWGGX or ACWI?

TWGGX has higher volatility (4.43%) compared to ACWI (3.93%). In terms of maximum drawdown, TWGGX dropped -58.08% vs ACWI's -56.00%.

Which has better risk-adjusted returns?

ACWI currently has the higher Sharpe Ratio (2.29 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.