TWOX vs. ACWI
TWOX (iShares Large Cap Accelerated Outcome ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - TWOX is a Defined Outcome fund actively managed by iShares, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. TWOX is actively managed, while ACWI is passively managed. Over the past year, TWOX returned 16.12% vs 29.18% for ACWI. Their correlation of 0.90 suggests significant overlap in exposure. TWOX charges 0.50%/yr vs 0.32%/yr for ACWI.
Performance
TWOX vs. ACWI - Performance Comparison
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Returns By Period
In the year-to-date period, TWOX achieves a 2.15% return, which is significantly lower than ACWI's 12.13% return.
TWOX
- 1D
- 0.00%
- 1M
- 1.50%
- YTD
- 2.15%
- 6M
- 3.54%
- 1Y
- 16.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
TWOX vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TWOX iShares Large Cap Accelerated Outcome ETF | 2.15% | 13.32% |
ACWI iShares MSCI ACWI ETF | 12.13% | 21.29% |
Correlation
The correlation between TWOX and ACWI is 0.87, 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 | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025 | 0.90 |
The correlation between TWOX and ACWI has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.
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Return for Risk
TWOX vs. ACWI — Risk / Return Rank
TWOX
ACWI
TWOX vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Accelerated Outcome ETF (TWOX) 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.
| TWOX | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.41 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 3.01 | -1.31 |
| Martin ratioReturn relative to average drawdown | 8.04 | 13.53 | -5.49 |
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
| TWOX | ACWI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 2.29 | -0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.43 | +0.25 |
Drawdowns
TWOX vs. ACWI - Drawdown Comparison
The maximum TWOX drawdown since its inception was -19.35%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for TWOX and ACWI.
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Drawdown Indicators
| TWOX | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.35% | -56.00% | +36.65% |
Max Drawdown (1Y)Largest decline over 1 year | -9.51% | -9.73% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.83% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -2.64% | -8.61% | +5.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.16% | -0.15% |
Volatility
TWOX vs. ACWI - Volatility Comparison
The current volatility for iShares Large Cap Accelerated Outcome ETF (TWOX) is 0.49%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 3.93%. This indicates that TWOX experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TWOX | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 3.93% | -3.44% |
Volatility (6M)Calculated over the trailing 6-month period | 8.25% | 10.29% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.44% | 12.78% | -2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.78% | 16.05% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 17.11% | -0.33% |
TWOX vs. ACWI - Expense Ratio Comparison
TWOX has a 0.50% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
TWOX vs. ACWI - Dividend Comparison
TWOX's dividend yield for the trailing twelve months is around 0.55%, less 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% |
TWOX iShares Large Cap Accelerated Outcome ETF | 0.55% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TWOX and ACWI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACWI has higher volatility (3.93%) compared to TWOX (0.49%). In terms of maximum drawdown, TWOX dropped -19.35% vs ACWI's -56.00%.
On 1-year performance, ACWI leads with 29.18% vs 16.12% for TWOX. On fees, ACWI is cheaper at 0.32% per year. On volatility, TWOX has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ACWI has performed better with a 29.18% return vs 16.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ACWI is cheaper with a 0.32% expense ratio, compared with 0.50% for TWOX.
ACWI has the higher dividend yield at 1.38%, compared with 0.55% for TWOX.
TWOX is categorized as Defined Outcome, while ACWI is Global Equities. Their fees differ too: 0.50% for TWOX and 0.32% for ACWI.
ACWI currently has the higher Sharpe Ratio (2.29 vs 1.55), 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.
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