WOSC.L vs. ACWI.L

Last updated Jun 5, 2026

WOSC.L (SPDR MSCI World Small Cap UCITS ETF) and ACWI.L (SPDR MSCI ACWI UCITS ETF) are both Global Equities funds from State Street - WOSC.L tracks the MSCI ACWI SMID NR USD while ACWI.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, WOSC.L returned 10.89%/yr vs 13.49%/yr for ACWI.L. Their correlation of 0.87 suggests significant overlap in exposure. WOSC.L charges 0.45%/yr vs 0.40%/yr for ACWI.L.

Performance

WOSC.L vs. ACWI.L - Performance Comparison

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

Returns By Period

In the year-to-date period, WOSC.L achieves a 14.25% return, which is significantly higher than ACWI.L's 11.83% return. Over the past 10 years, WOSC.L has underperformed ACWI.L with an annualized return of 10.89%, while ACWI.L has yielded a comparatively higher 13.49% annualized return.

WOSC.L

• 1D: 0.61%
• 1M: 4.16%
• YTD: 14.25%
• 6M: 14.68%
• 1Y: 33.55%
• 3Y*: 14.89%
• 5Y*: 8.02%
• 10Y*: 10.89%

ACWI.L

• 1D: -0.04%
• 1M: 5.29%
• YTD: 11.83%
• 6M: 12.33%
• 1Y: 30.27%
• 3Y*: 18.14%
• 5Y*: 12.52%
• 10Y*: 13.49%

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

WOSC.L vs. ACWI.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WOSC.L SPDR MSCI World Small Cap UCITS ETF	14.25%	11.76%	9.41%	9.96%	-8.76%	16.26%	12.23%	22.09%	-9.72%	11.06%
ACWI.L SPDR MSCI ACWI UCITS ETF	11.83%	14.32%	19.66%	15.59%	-8.59%	20.28%	11.89%	21.92%	-4.58%	12.93%

Correlation

The correlation between WOSC.L and ACWI.L is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Dec 6, 2013	0.87

The correlation between WOSC.L and ACWI.L has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

WOSC.L vs. ACWI.L - Sectors Allocation Comparison

Sectors	WOSC.L	ACWI.L
Industrials	20.5%	10.9%
Financial Services	13.6%	16.5%
Technology	13.4%	29.2%
Consumer Cyclical	10.9%	9.3%
Healthcare	9.5%	8.0%
Basic Materials	8.2%	3.6%
Real Estate	8.2%	1.7%
Energy	5.6%	4.3%
Consumer Defensive	4.2%	4.9%
Communication Services	3.0%	9.0%
Utilities	2.8%	2.7%

Return for Risk

WOSC.L vs. ACWI.L — Risk / Return Rank

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

WOSC.L

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

ACWI.L

ACWI.L Risk / Return Rank: 86
ACWI.L Sharpe Ratio Rank: 88
ACWI.L Sortino Ratio Rank: 88
ACWI.L Omega Ratio Rank: 89
ACWI.L Calmar Ratio Rank: 82
ACWI.L Martin Ratio Rank: 85

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.

WOSC.L vs. ACWI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Small Cap UCITS ETF (WOSC.L) and SPDR MSCI ACWI UCITS ETF (ACWI.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.

	WOSC.L	ACWI.L	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.89	-0.27
Sortino ratio: Return per unit of downside risk	3.65	3.99	-0.34
Omega ratio: Gain probability vs. loss probability	1.47	1.55	-0.09
Calmar ratio: Return relative to maximum drawdown	4.26	4.28	-0.01
Martin ratio: Return relative to average drawdown	16.37	17.31	-0.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WOSC.L vs. ACWI.L - Sharpe Ratio Comparison

The current WOSC.L Sharpe Ratio is 2.62, which is comparable to the ACWI.L Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of WOSC.L and ACWI.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.

Sharpe Ratios by Period

	WOSC.L	ACWI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	2.89	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.96	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.94	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.81	-0.27

Drawdowns

WOSC.L vs. ACWI.L - Drawdown Comparison

The maximum WOSC.L drawdown since its inception was -36.13%, which is greater than ACWI.L's maximum drawdown of -25.44%. Use the drawdown chart below to compare losses from any high point for WOSC.L and ACWI.L.

Drawdown Indicators

	WOSC.L	ACWI.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.13%	-25.44%	-10.69%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-7.05%	-0.78%
Max Drawdown (3Y) Largest decline over 3 years	-21.43%	-18.07%	-3.36%
Max Drawdown (5Y) Largest decline over 5 years	-21.43%	-18.07%	-3.36%
Max Drawdown (10Y) Largest decline over 10 years	-36.13%	-25.44%	-10.69%
Current Drawdown Current decline from peak	0.00%	-0.41%	+0.41%
Average Drawdown Average peak-to-trough decline	-5.45%	-3.67%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	1.74%	+0.30%

Volatility

WOSC.L vs. ACWI.L - Volatility Comparison

SPDR MSCI World Small Cap UCITS ETF (WOSC.L) has a higher volatility of 3.44% compared to SPDR MSCI ACWI UCITS ETF (ACWI.L) at 2.90%. This indicates that WOSC.L's price experiences larger fluctuations and is considered to be riskier than ACWI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WOSC.L	ACWI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	2.90%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	7.75%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	12.72%	10.42%	+2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	13.05%	+2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.88%	14.39%	+6.49%

WOSC.L vs. ACWI.L - Expense Ratio Comparison

WOSC.L has a 0.45% expense ratio, which is higher than ACWI.L's 0.40% expense ratio.

Dividends

WOSC.L vs. ACWI.L - Dividend Comparison

Neither WOSC.L nor ACWI.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both WOSC.L and ACWI.L in my portfolio?

WOSC.L and ACWI.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WOSC.L or ACWI.L?

On fees, ACWI.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WOSC.L or ACWI.L?

ACWI.L is cheaper with a 0.40% expense ratio, compared with 0.45% for WOSC.L.

What is the main difference between WOSC.L and ACWI.L?

WOSC.L tracks MSCI ACWI SMID NR USD, while ACWI.L tracks MSCI ACWI NR USD. Their fees differ too: 0.45% for WOSC.L and 0.40% for ACWI.L.