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WOOD vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WOOD vs. ACWI

Last updated Jun 24, 2026

WOOD (iShares Global Timber & Forestry ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - WOOD is a Materials fund tracking the S&P Global Timber & Forestry Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, WOOD returned 5.97%/yr vs 13.09%/yr for ACWI. A 0.77 correlation means they provide meaningful diversification when combined. WOOD charges 0.46%/yr vs 0.32%/yr for ACWI.

Performance

WOOD vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Timber & Forestry ETF (WOOD) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WOOD achieves a -7.28% return, which is significantly lower than ACWI's 9.86% return. Over the past 10 years, WOOD has underperformed ACWI with an annualized return of 5.97%, while ACWI has yielded a comparatively higher 13.09% annualized return.

WOOD

1D
-1.42%
1M
1.59%
YTD
-7.28%
6M
-6.36%
1Y
-6.77%
3Y*
-0.01%
5Y*
-3.45%
10Y*
5.97%

ACWI

1D
-2.00%
1M
-0.35%
YTD
9.86%
6M
9.11%
1Y
25.60%
3Y*
20.00%
5Y*
10.74%
10Y*
13.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WOOD vs. ACWI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
WOOD
iShares Global Timber & Forestry ETF		-7.28%-3.27%-4.21%13.84%-19.39%17.03%20.36%19.75%-17.73%34.49%
ACWI
iShares MSCI ACWI ETF		9.86%22.41%17.45%22.27%-18.39%18.66%16.34%26.59%-9.19%24.33%

Correlation

The correlation between WOOD and ACWI is 0.59, 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

0.59

Correlation (3Y)
Calculated over the trailing 3-year period

0.61

Correlation (5Y)
Calculated over the trailing 5-year period

0.69

Correlation (10Y)
Calculated over the trailing 10-year period

0.71

Correlation (All Time)
Calculated using the full available price history since Jun 25, 2008

0.77

The correlation between WOOD and ACWI shifts across timeframes, from 0.59 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

WOOD vs. ACWI - Sectors Allocation Comparison

Sectors
WOOD
ACWI

Basic Materials

62.4%
3.6%

Consumer Cyclical

24.6%
8.6%

Real Estate

13.0%
1.6%

Communication Services

-

8.0%

Consumer Defensive

-

4.7%

Energy

-

3.6%

Financial Services

-

15.9%

Healthcare

-

7.7%

Industrials

-

10.3%

Technology

-

33.0%

Utilities

-

2.7%

Basic Materials

WOOD
62.4%
ACWI
3.6%

Consumer Cyclical

WOOD
24.6%
ACWI
8.6%

Real Estate

WOOD
13.0%
ACWI
1.6%

Communication Services

WOOD

-

ACWI
8.0%

Consumer Defensive

WOOD

-

ACWI
4.7%

Energy

WOOD

-

ACWI
3.6%

Financial Services

WOOD

-

ACWI
15.9%

Healthcare

WOOD

-

ACWI
7.7%

Industrials

WOOD

-

ACWI
10.3%

Technology

WOOD

-

ACWI
33.0%

Utilities

WOOD

-

ACWI
2.7%

Compare stocks, funds, or ETFs

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iShares Global Timber & Forestry ETF

iShares MSCI ACWI ETF

Often compared with WOOD:
WOOD vs. CUTWOOD vs. SPYWOOD vs. GLDWOOD vs. QQQWOOD vs. VOOWOOD vs. VTIWOOD vs. VOOV
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI

Return for Risk

WOOD vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WOOD
WOOD Risk / Return Rank: 66
Overall Rank
WOOD Sharpe Ratio Rank: 66
Sharpe Ratio Rank
WOOD Sortino Ratio Rank: 66
Sortino Ratio Rank
WOOD Omega Ratio Rank: 66
Omega Ratio Rank
WOOD Calmar Ratio Rank: 66
Calmar Ratio Rank
WOOD Martin Ratio Rank: 66
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 5858
Overall Rank
ACWI Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 5656
Sortino Ratio Rank
ACWI Omega Ratio Rank: 5858
Omega Ratio Rank
ACWI Calmar Ratio Rank: 5555
Calmar Ratio Rank
ACWI Martin Ratio Rank: 6565
Martin Ratio Rank
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.

WOOD vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Timber & Forestry ETF (WOOD) 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.

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.

WOODACWIDifference
Sharpe ratioReturn per unit of total volatility
-0.36
1.89

-2.25

Sortino ratioReturn per unit of downside risk
-0.39
2.60

-2.99

Omega ratioGain probability vs. loss probability

0.96

1.34

-0.39

Calmar ratioReturn relative to maximum drawdown

-0.31

2.64

-2.96

Martin ratioReturn relative to average drawdown

-0.67

11.51

-12.17

WOOD vs. ACWI - Sharpe Ratio Comparison

The current WOOD Sharpe Ratio is -0.36, which is lower than the ACWI Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of WOOD 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.

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Drawdowns

WOOD vs. ACWI - Drawdown Comparison

The maximum WOOD drawdown since its inception was -63.25%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for WOOD and ACWI.

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Drawdown Indicators

WOODACWIDifference

Max Drawdown

Largest peak-to-trough decline

-63.25%

-56.00%

-7.25%

Max Drawdown (1Y)

Largest decline over 1 year

-21.64%

-9.73%

-11.91%

Max Drawdown (3Y)

Largest decline over 3 years

-22.79%

-16.55%

-6.24%

Max Drawdown (5Y)

Largest decline over 5 years

-30.71%

-26.42%

-4.29%

Max Drawdown (10Y)

Largest decline over 10 years

-50.20%

-33.53%

-16.67%

Current Drawdown

Current decline from peak

-24.58%

-2.83%

-21.75%

Average Drawdown

Average peak-to-trough decline

-14.79%

-8.59%

-6.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.14%

2.23%

+7.91%

Volatility

WOOD vs. ACWI - Volatility Comparison

The current volatility for iShares Global Timber & Forestry ETF (WOOD) is 5.12%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 5.57%. This indicates that WOOD 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

WOODACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.12%

5.57%

-0.45%

Volatility (6M)

Calculated over the trailing 6-month period

14.22%

11.38%

+2.84%

Volatility (1Y)

Calculated over the trailing 1-year period

18.90%

13.64%

+5.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.74%

16.20%

+3.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.76%

17.08%

+4.68%

WOOD vs. ACWI - Expense Ratio Comparison

WOOD has a 0.46% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

WOOD vs. ACWI - Dividend Comparison

WOOD's dividend yield for the trailing twelve months is around 2.55%, more than ACWI's 1.45% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.45%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
WOOD
iShares Global Timber & Forestry ETF		2.55%2.51%2.09%1.64%2.26%1.24%0.98%1.85%2.82%1.19%1.65%2.04%

Frequently Asked Questions

WOOD and ACWI have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ACWI has higher volatility (5.57%) compared to WOOD (5.12%). In terms of maximum drawdown, WOOD dropped -63.25% vs ACWI's -56.00%.

On 10-year performance, ACWI leads with 13.09% vs 5.97% for WOOD. On fees, ACWI is cheaper at 0.32% per year. On volatility, WOOD has been the lower-risk option at 5.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ACWI has performed better with a 13.09% return vs 5.97%. 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 0.46% for WOOD.

WOOD has the higher dividend yield at 2.55%, compared with 1.45% for ACWI.

WOOD is categorized as Materials, while ACWI is Global Equities. WOOD tracks S&P Global Timber & Forestry Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.46% for WOOD and 0.32% for ACWI.

ACWI currently has the higher Sharpe Ratio (1.89 vs -0.36), 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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