WCOD.L vs. CDCE.L
WCOD.L (SPDR MSCI World Consumer Discretionary UCITS ETF) and CDCE.L (SPDR MSCI Europe Consumer Discretionary UCITS ETF) are both Consumer Discretionary Equities funds from State Street tracking the Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR. Both are passively managed. Over the past 3 years, WCOD.L returned 12.82%/yr vs -0.32%/yr for CDCE.L. At a 0.47 correlation, their price movements are largely independent. WCOD.L charges 0.30%/yr vs 0.18%/yr for CDCE.L.
Performance
WCOD.L vs. CDCE.L - Performance Comparison
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Different Trading Currencies
WCOD.L is traded in USD, while CDCE.L is traded in GBP. To make them comparable, the CDCE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, WCOD.L achieves a -2.54% return, which is significantly higher than CDCE.L's -12.13% return.
WCOD.L
- 1D
- 0.80%
- 1M
- -0.41%
- YTD
- -2.54%
- 6M
- -1.31%
- 1Y
- 8.23%
- 3Y*
- 12.82%
- 5Y*
- 4.86%
- 10Y*
- 11.13%
CDCE.L
- 1D
- 0.55%
- 1M
- 6.31%
- YTD
- -12.13%
- 6M
- -10.94%
- 1Y
- -4.17%
- 3Y*
- -0.32%
- 5Y*
- —
- 10Y*
- —
WCOD.L vs. CDCE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WCOD.L SPDR MSCI World Consumer Discretionary UCITS ETF | -2.54% | 8.15% | 21.52% | 35.76% | -22.35% |
CDCE.L SPDR MSCI Europe Consumer Discretionary UCITS ETF | -12.13% | 15.48% | -2.86% | 19.00% | 2.08% |
Correlation
The correlation between WCOD.L and CDCE.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2022 | 0.47 |
Over the past year, WCOD.L and CDCE.L have become more correlated (0.68) than their long-term average of 0.47, meaning their price movements have been converging.
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Return for Risk
WCOD.L vs. CDCE.L — Risk / Return Rank
WCOD.L
CDCE.L
WCOD.L vs. CDCE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Consumer Discretionary UCITS ETF (WCOD.L) and SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.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.
| WCOD.L | CDCE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.98 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | -0.20 | +0.70 |
| Martin ratioReturn relative to average drawdown | 1.51 | -0.48 | +2.00 |
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
| WCOD.L | CDCE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | -0.20 | +0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.19 | +0.59 |
Drawdowns
WCOD.L vs. CDCE.L - Drawdown Comparison
The maximum WCOD.L drawdown since its inception was -36.26%, which is greater than CDCE.L's maximum drawdown of -22.26%. Use the drawdown chart below to compare losses from any high point for WCOD.L and CDCE.L.
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Drawdown Indicators
| WCOD.L | CDCE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -22.26% | -14.00% |
Max Drawdown (1Y)Largest decline over 1 year | -16.19% | -21.19% | +5.00% |
Max Drawdown (3Y)Largest decline over 3 years | -23.04% | -22.26% | -0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -36.26% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.26% | — | — |
Current DrawdownCurrent decline from peak | -5.91% | -12.54% | +6.63% |
Average DrawdownAverage peak-to-trough decline | -8.44% | -7.75% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.42% | 8.58% | -3.16% |
Volatility
WCOD.L vs. CDCE.L - Volatility Comparison
The current volatility for SPDR MSCI World Consumer Discretionary UCITS ETF (WCOD.L) is 5.99%, while SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L) has a volatility of 7.23%. This indicates that WCOD.L experiences smaller price fluctuations and is considered to be less risky than CDCE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCOD.L | CDCE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 7.23% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 13.97% | 16.53% | -2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.70% | 20.99% | -3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.42% | 23.40% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.43% | 23.40% | +2.03% |
WCOD.L vs. CDCE.L - Expense Ratio Comparison
WCOD.L has a 0.30% expense ratio, which is higher than CDCE.L's 0.18% expense ratio.
Dividends
WCOD.L vs. CDCE.L - Dividend Comparison
Neither WCOD.L nor CDCE.L has paid dividends to shareholders.
Frequently Asked Questions
WCOD.L and CDCE.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CDCE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CDCE.L is cheaper with a 0.18% expense ratio, compared with 0.30% for WCOD.L.
Both ETFs track Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR. Their fees differ too: 0.30% for WCOD.L and 0.18% for CDCE.L.
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