WLDS.L vs. CCASX

Last updated Jun 5, 2026

WLDS.L (iShares MSCI World Small Cap UCITS ETF) and CCASX (Conestoga Small Cap) are both funds - WLDS.L is a Small Cap Blend Equities fund tracking the MSCI World Small Cap Inde, while CCASX is a Small Cap Growth Equities fund managed by Conestoga Capital Advisors. Over the past 5 years, WLDS.L returned 8.23%/yr vs 0.58%/yr for CCASX. A 0.56 correlation means they provide meaningful diversification when combined. WLDS.L charges 0.35%/yr vs 1.10%/yr for CCASX.

Performance

WLDS.L vs. CCASX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI World Small Cap UCITS ETF (WLDS.L) and Conestoga Small Cap (CCASX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, WLDS.L achieves a 14.58% return, which is significantly higher than CCASX's 2.15% return.

WLDS.L

• 1D: 0.69%
• 1M: 4.25%
• YTD: 14.58%
• 6M: 14.95%
• 1Y: 33.75%
• 3Y*: 15.03%
• 5Y*: 8.23%
• 10Y*: —

CCASX

• 1D: 0.18%
• 1M: 1.43%
• YTD: 2.15%
• 6M: -0.78%
• 1Y: -2.46%
• 3Y*: -0.47%
• 5Y*: 0.58%
• 10Y*: 10.01%

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

WLDS.L vs. CCASX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
WLDS.L iShares MSCI World Small Cap UCITS ETF	14.58%	11.86%	8.58%	11.22%	-8.89%	16.71%	12.54%	20.41%	-4.07%
CCASX Conestoga Small Cap	2.15%	-17.34%	10.64%	16.03%	-19.79%	17.12%	26.51%	20.42%	8.28%

Correlation

The correlation between WLDS.L and CCASX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Apr 2, 2018	0.56

The correlation between WLDS.L and CCASX has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

Return for Risk

WLDS.L vs. CCASX — Risk / Return Rank

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

WLDS.L

WLDS.L Risk / Return Rank: 83
WLDS.L Sharpe Ratio Rank: 83
WLDS.L Sortino Ratio Rank: 84
WLDS.L Omega Ratio Rank: 80
WLDS.L Calmar Ratio Rank: 83
WLDS.L Martin Ratio Rank: 82

CCASX

CCASX Risk / Return Rank: 2
CCASX Sharpe Ratio Rank: 2
CCASX Sortino Ratio Rank: 2
CCASX Omega Ratio Rank: 2
CCASX Calmar Ratio Rank: 2
CCASX Martin Ratio Rank: 2

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.

WLDS.L vs. CCASX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Small Cap UCITS ETF (WLDS.L) and Conestoga Small Cap (CCASX). 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.

	WLDS.L	CCASX	Difference
Sharpe ratio: Return per unit of total volatility	2.67	-0.13	+2.81
Sortino ratio: Return per unit of downside risk	3.75	-0.07	+3.82
Omega ratio: Gain probability vs. loss probability	1.48	0.99	+0.48
Calmar ratio: Return relative to maximum drawdown	4.32	-0.18	+4.50
Martin ratio: Return relative to average drawdown	16.35	-0.44	+16.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WLDS.L vs. CCASX - Sharpe Ratio Comparison

The current WLDS.L Sharpe Ratio is 2.67, which is higher than the CCASX Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of WLDS.L and CCASX, 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

	WLDS.L	CCASX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.67	-0.13	+2.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.03	+0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.49	+0.07

Drawdowns

WLDS.L vs. CCASX - Drawdown Comparison

The maximum WLDS.L drawdown since its inception was -33.26%, roughly equal to the maximum CCASX drawdown of -32.51%. Use the drawdown chart below to compare losses from any high point for WLDS.L and CCASX.

Drawdown Indicators

	WLDS.L	CCASX	Difference
Max Drawdown Largest peak-to-trough decline	-33.26%	-32.51%	-0.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.78%	-13.33%	+5.55%
Max Drawdown (3Y) Largest decline over 3 years	-21.55%	-28.90%	+7.35%
Max Drawdown (5Y) Largest decline over 5 years	-21.55%	-32.51%	+10.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.51%	—
Current Drawdown Current decline from peak	0.00%	-22.38%	+22.38%
Average Drawdown Average peak-to-trough decline	-6.36%	-8.62%	+2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	5.36%	-3.30%

Volatility

WLDS.L vs. CCASX - Volatility Comparison

The current volatility for iShares MSCI World Small Cap UCITS ETF (WLDS.L) is 3.41%, while Conestoga Small Cap (CCASX) has a volatility of 4.39%. This indicates that WLDS.L experiences smaller price fluctuations and is considered to be less risky than CCASX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WLDS.L	CCASX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	4.39%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	12.83%	-3.54%
Volatility (1Y) Calculated over the trailing 1-year period	12.58%	17.81%	-5.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.53%	20.59%	-5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	21.34%	-4.05%

WLDS.L vs. CCASX - Expense Ratio Comparison

WLDS.L has a 0.35% expense ratio, which is lower than CCASX's 1.10% expense ratio.

Dividends

WLDS.L vs. CCASX - Dividend Comparison

WLDS.L has not paid dividends to shareholders, while CCASX's dividend yield for the trailing twelve months is around 5.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCASX Conestoga Small Cap	5.49%	5.58%	0.00%	0.86%	4.12%	5.27%	0.00%	2.14%	1.46%	5.63%	1.18%	1.88%
WLDS.L iShares MSCI World Small Cap UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WLDS.L and CCASX in my portfolio?

WLDS.L and CCASX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.