WSML.L vs. VPAC.L
WSML.L (iShares MSCI World Small Cap UCITS ETF USD (Acc)) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD (Acc)) are both exchange-traded funds - WSML.L is a Global Equities fund tracking the MSCI World Small Cap Index, while VPAC.L is a Preferred Stock/Convertible Bonds fund tracking the ICE Diversified Variable Rate Preferred & Hybrid Securities Index. Both are passively managed. Over the past 5 years, WSML.L returned 7.83%/yr vs 3.51%/yr for VPAC.L. A 0.52 correlation means they provide meaningful diversification when combined. WSML.L charges 0.35%/yr vs 0.50%/yr for VPAC.L.
Performance
WSML.L vs. VPAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, WSML.L achieves a 14.65% return, which is significantly higher than VPAC.L's 2.04% return.
WSML.L
- 1D
- 0.19%
- 1M
- -0.86%
- 6M
- 8.10%
- YTD
- 14.65%
- 1Y
- 28.20%
- 3Y*
- 15.82%
- 5Y*
- 7.83%
- 10Y*
- —
VPAC.L
- 1D
- -0.12%
- 1M
- 0.07%
- 6M
- 1.59%
- YTD
- 2.04%
- 1Y
- 5.21%
- 3Y*
- 8.42%
- 5Y*
- 3.51%
- 10Y*
- —
WSML.L vs. VPAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WSML.L iShares MSCI World Small Cap UCITS ETF USD (Acc) | 14.65% | 19.95% | 7.38% | 17.11% | -18.62% | 15.23% | 16.50% | 24.35% | -5.63% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD (Acc) | 2.04% | 6.34% | 10.84% | 9.27% | -9.70% | 3.64% | 4.81% | 17.14% | -1.27% |
Correlation
The correlation between WSML.L and VPAC.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018 | 0.52 |
The correlation between WSML.L and VPAC.L has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.
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Return for Risk
WSML.L vs. VPAC.L — Risk / Return Rank
WSML.L
VPAC.L
WSML.L vs. VPAC.L - 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 Invesco Variable Rate Preferred Shares UCITS ETF USD (Acc) (VPAC.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.
| WSML.L | VPAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 2.54 | +0.56 |
| Martin ratioReturn relative to average drawdown | 11.20 | 9.98 | +1.22 |
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Drawdowns
WSML.L vs. VPAC.L - Drawdown Comparison
The maximum WSML.L drawdown since its inception was -41.14%, which is greater than VPAC.L's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for WSML.L and VPAC.L.
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Drawdown Indicators
| WSML.L | VPAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -34.25% | -6.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.05% | -2.02% | -7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -20.10% | -3.40% | -16.70% |
Max Drawdown (5Y)Largest decline over 5 years | -30.50% | -13.89% | -16.61% |
Current DrawdownCurrent decline from peak | -1.61% | -0.33% | -1.28% |
Average DrawdownAverage peak-to-trough decline | -8.67% | -3.14% | -5.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 0.52% | +1.99% |
Volatility
WSML.L vs. VPAC.L - Volatility Comparison
iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) has a higher volatility of 4.08% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (Acc) (VPAC.L) at 0.74%. This indicates that WSML.L's price experiences larger fluctuations and is considered to be riskier than VPAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WSML.L | VPAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 0.74% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 11.94% | 2.28% | +9.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.17% | 3.17% | +12.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.55% | 5.30% | +13.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.52% | 11.00% | +8.52% |
WSML.L vs. VPAC.L - Expense Ratio Comparison
WSML.L has a 0.35% expense ratio, which is lower than VPAC.L's 0.50% expense ratio.
Dividends
WSML.L vs. VPAC.L - Dividend Comparison
Neither WSML.L nor VPAC.L has paid dividends to shareholders.
Frequently Asked Questions
WSML.L and VPAC.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WSML.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WSML.L is cheaper with a 0.35% expense ratio, compared with 0.50% for VPAC.L.
WSML.L is categorized as Global Equities, while VPAC.L is Preferred Stock/Convertible Bonds. WSML.L tracks MSCI World Small Cap Index, while VPAC.L tracks ICE Diversified Variable Rate Preferred & Hybrid Securities Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.35% for WSML.L and 0.50% for VPAC.L.
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