WSML.L vs. EQLT

Last updated Jun 4, 2026

WSML.L (iShares MSCI World Small Cap UCITS ETF USD (Acc)) and EQLT (iShares MSCI Emerging Markets Quality Factor ETF) are both exchange-traded funds - WSML.L is a Global Equities fund tracking the MSCI World Small Cap Index, while EQLT is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Quality Factor Select Index. Both are passively managed. Over the past year, WSML.L returned 32.37% vs 61.52% for EQLT. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

WSML.L vs. EQLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) and iShares MSCI Emerging Markets Quality Factor ETF (EQLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WSML.L achieves a 13.77% return, which is significantly lower than EQLT's 31.35% return.

WSML.L

• 1D: -0.41%
• 1M: 3.09%
• YTD: 13.77%
• 6M: 15.69%
• 1Y: 32.37%
• 3Y*: 17.80%
• 5Y*: 6.95%
• 10Y*: —

EQLT

• 1D: -1.96%
• 1M: 8.08%
• YTD: 31.35%
• 6M: 34.63%
• 1Y: 61.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WSML.L vs. EQLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WSML.L iShares MSCI World Small Cap UCITS ETF USD (Acc)	13.77%	19.94%	3.83%
EQLT iShares MSCI Emerging Markets Quality Factor ETF	31.35%	33.93%	-1.29%

Correlation

The correlation between WSML.L and EQLT 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 (All Time) Calculated using the full available price history since Sep 9, 2024	0.49

The correlation between WSML.L and EQLT shifts across timeframes, from 0.49 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.

WSML.L vs. EQLT - Sectors Allocation Comparison

Sectors	WSML.L	EQLT
Industrials	20.5%	7.4%
Financial Services	13.5%	16.8%
Technology	13.5%	40.7%
Consumer Cyclical	10.9%	9.0%
Healthcare	9.6%	2.4%
Basic Materials	8.2%	6.7%
Real Estate	8.2%	1.1%
Energy	5.5%	3.8%
Consumer Defensive	4.1%	3.3%
Communication Services	3.0%	6.4%
Utilities	2.9%	2.4%

Return for Risk

WSML.L vs. EQLT — Risk / Return Rank

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

WSML.L

WSML.L Risk / Return Rank: 67
WSML.L Sharpe Ratio Rank: 64
WSML.L Sortino Ratio Rank: 71
WSML.L Omega Ratio Rank: 62
WSML.L Calmar Ratio Rank: 71
WSML.L Martin Ratio Rank: 69

EQLT

EQLT Risk / Return Rank: 87
EQLT Sharpe Ratio Rank: 88
EQLT Sortino Ratio Rank: 84
EQLT Omega Ratio Rank: 85
EQLT Calmar Ratio Rank: 88
EQLT Martin Ratio Rank: 90

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.

WSML.L vs. EQLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) and iShares MSCI Emerging Markets Quality Factor ETF (EQLT). 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.

	WSML.L	EQLT	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.93	-0.74
Sortino ratio: Return per unit of downside risk	3.28	3.74	-0.46
Omega ratio: Gain probability vs. loss probability	1.38	1.52	-0.14
Calmar ratio: Return relative to maximum drawdown	3.57	5.15	-1.59
Martin ratio: Return relative to average drawdown	13.00	20.74	-7.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WSML.L vs. EQLT - Sharpe Ratio Comparison

The current WSML.L Sharpe Ratio is 2.19, which is comparable to the EQLT Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of WSML.L and EQLT, 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

	WSML.L	EQLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	2.93	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	1.83	-1.37

Drawdowns

WSML.L vs. EQLT - Drawdown Comparison

The maximum WSML.L drawdown since its inception was -41.14%, which is greater than EQLT's maximum drawdown of -17.38%. Use the drawdown chart below to compare losses from any high point for WSML.L and EQLT.

Drawdown Indicators

	WSML.L	EQLT	Difference
Max Drawdown Largest peak-to-trough decline	-41.14%	-17.38%	-23.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.03%	-12.00%	+2.97%
Max Drawdown (3Y) Largest decline over 3 years	-20.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.50%	—	—
Current Drawdown Current decline from peak	-0.41%	-1.96%	+1.55%
Average Drawdown Average peak-to-trough decline	-8.80%	-3.60%	-5.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.97%	-0.49%

Volatility

WSML.L vs. EQLT - Volatility Comparison

The current volatility for iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) is 4.42%, while iShares MSCI Emerging Markets Quality Factor ETF (EQLT) has a volatility of 9.92%. This indicates that WSML.L experiences smaller price fluctuations and is considered to be less risky than EQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WSML.L	EQLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	9.92%	-5.50%
Volatility (6M) Calculated over the trailing 6-month period	11.23%	18.77%	-7.54%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	21.11%	-6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.48%	20.56%	-2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.60%	20.56%	-0.96%

WSML.L vs. EQLT - Expense Ratio Comparison

Both WSML.L and EQLT have an expense ratio of 0.35%.

Dividends

WSML.L vs. EQLT - Dividend Comparison

WSML.L has not paid dividends to shareholders, while EQLT's dividend yield for the trailing twelve months is around 2.63%.

Position	TTM	2025	2024
EQLT iShares MSCI Emerging Markets Quality Factor ETF	2.63%	3.10%	0.51%
WSML.L iShares MSCI World Small Cap UCITS ETF USD (Acc)	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WSML.L and EQLT in my portfolio?

WSML.L and EQLT 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.

Which ETF is better, WSML.L or EQLT?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WSML.L or EQLT?

WSML.L and EQLT have the same expense ratio: 0.35% per year.

What is the main difference between WSML.L and EQLT?

WSML.L is categorized as Global Equities, while EQLT is Emerging Markets Equities. WSML.L tracks MSCI World Small Cap Index, while EQLT tracks MSCI Emerging Markets Quality Factor Select Index.