WLDS.L vs. USSC.L

Last updated Jun 21, 2026

WLDS.L (iShares MSCI World Small Cap UCITS ETF) and USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - WLDS.L is a Small Cap Blend Equities fund tracking the MSCI World Small Cap Inde, while USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 5 years, WLDS.L returned 8.69%/yr vs 11.75%/yr for USSC.L. Their correlation of 0.86 suggests significant overlap in exposure. WLDS.L charges 0.35%/yr vs 0.30%/yr for USSC.L.

Performance

WLDS.L vs. USSC.L - 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 SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with WLDS.L having a 17.04% return and USSC.L slightly higher at 17.14%.

WLDS.L

• 1D: 0.13%
• 1M: 5.61%
• YTD: 17.04%
• 6M: 16.18%
• 1Y: 35.51%
• 3Y*: 15.93%
• 5Y*: 8.69%
• 10Y*: —

USSC.L

• 1D: -0.11%
• 1M: 6.15%
• YTD: 17.14%
• 6M: 15.90%
• 1Y: 38.58%
• 3Y*: 17.44%
• 5Y*: 11.75%
• 10Y*: 13.26%

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

WLDS.L vs. USSC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
WLDS.L iShares MSCI World Small Cap UCITS ETF	17.04%	11.75%	8.63%	11.26%	-8.89%	16.71%	12.54%	20.41%	-31.05%
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	17.14%	6.55%	10.22%	17.02%	0.54%	36.50%	5.57%	18.48%	-0.23%

Correlation

The correlation between WLDS.L and USSC.L is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018	0.86

The correlation between WLDS.L and USSC.L has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

WLDS.L vs. USSC.L - Sectors Allocation Comparison

Sectors	WLDS.L	USSC.L
Industrials	19.7%	14.7%
Technology	16.0%	9.4%
Financial Services	13.2%	19.8%
Consumer Cyclical	10.6%	14.0%
Healthcare	10.0%	7.5%
Real Estate	8.0%	6.2%
Basic Materials	8.0%	6.1%
Energy	4.8%	11.2%
Consumer Defensive	3.8%	6.0%
Communication Services	3.2%	2.7%
Utilities	2.7%	2.5%

Return for Risk

WLDS.L vs. USSC.L — 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: 88
WLDS.L Sharpe Ratio Rank: 89
WLDS.L Sortino Ratio Rank: 91
WLDS.L Omega Ratio Rank: 87
WLDS.L Calmar Ratio Rank: 87
WLDS.L Martin Ratio Rank: 86

USSC.L

USSC.L Risk / Return Rank: 81
USSC.L Sharpe Ratio Rank: 79
USSC.L Sortino Ratio Rank: 84
USSC.L Omega Ratio Rank: 75
USSC.L Calmar Ratio Rank: 87
USSC.L Martin Ratio Rank: 81

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. USSC.L - 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 SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WLDS.L	USSC.L	Difference
Sharpe ratio: Return per unit of total volatility	2.84	2.61	+0.23
Sortino ratio: Return per unit of downside risk	3.99	3.55	+0.45
Omega ratio: Gain probability vs. loss probability	1.51	1.46	+0.05
Calmar ratio: Return relative to maximum drawdown	4.62	5.69	-1.08
Martin ratio: Return relative to average drawdown	17.43	19.26	-1.83

WLDS.L vs. USSC.L - Sharpe Ratio Comparison

The current WLDS.L Sharpe Ratio is 2.84, which is comparable to the USSC.L Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of WLDS.L and USSC.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.

Drawdowns

WLDS.L vs. USSC.L - Drawdown Comparison

The maximum WLDS.L drawdown since its inception was -43.18%, roughly equal to the maximum USSC.L drawdown of -43.40%. Use the drawdown chart below to compare losses from any high point for WLDS.L and USSC.L.

Drawdown Indicators

	WLDS.L	USSC.L	Difference
Max Drawdown Largest peak-to-trough decline	-43.18%	-43.40%	+0.22%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	-7.13%	-0.73%
Max Drawdown (3Y) Largest decline over 3 years	-21.53%	-28.91%	+7.38%
Max Drawdown (5Y) Largest decline over 5 years	-21.53%	-28.91%	+7.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.40%	—
Current Drawdown Current decline from peak	0.00%	-0.64%	+0.64%
Average Drawdown Average peak-to-trough decline	-12.25%	-7.91%	-4.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	2.11%	-0.02%

Volatility

WLDS.L vs. USSC.L - Volatility Comparison

iShares MSCI World Small Cap UCITS ETF (WLDS.L) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) have volatilities of 3.56% and 3.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WLDS.L	USSC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.56%	3.57%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	10.37%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	12.87%	15.71%	-2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.30%	20.58%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.43%	22.14%	+0.29%

WLDS.L vs. USSC.L - Expense Ratio Comparison

WLDS.L has a 0.35% expense ratio, which is higher than USSC.L's 0.30% expense ratio.

Dividends

WLDS.L vs. USSC.L - Dividend Comparison

Neither WLDS.L nor USSC.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

WLDS.L and USSC.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WLDS.L or USSC.L?

On fees, USSC.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WLDS.L or USSC.L?

USSC.L is cheaper with a 0.30% expense ratio, compared with 0.35% for WLDS.L.

What is the main difference between WLDS.L and USSC.L?

WLDS.L is categorized as Small Cap Blend Equities, while USSC.L is Small Cap Value Equities. WLDS.L tracks MSCI World Small Cap Inde, while USSC.L tracks MSCI USA Small Cap Value Weighted Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.35% for WLDS.L and 0.30% for USSC.L.