WSML vs. WLDR

Last updated Jul 21, 2026

WSML (iShares MSCI World Small-Cap ETF) and WLDR (Affinity World Leaders Equity ETF) are both Global Equities funds - WSML tracks the MSCI World Small Cap Index while WLDR tracks the Thomson Reuters StarMine Affinity World Leaders Index. Both are passively managed. Over the past year, WSML returned 24.16% vs 43.94% for WLDR. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

WSML vs. WLDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI World Small-Cap ETF (WSML) and Affinity World Leaders Equity ETF (WLDR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WSML achieves a 13.15% return, which is significantly lower than WLDR's 24.91% return.

WSML

• 1D: -0.58%
• 1M: -2.15%
• 6M: 6.46%
• YTD: 13.15%
• 1Y: 24.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WLDR

• 1D: -0.33%
• 1M: -4.90%
• 6M: 19.80%
• YTD: 24.91%
• 1Y: 43.94%
• 3Y*: 28.26%
• 5Y*: 17.84%
• 10Y*: —

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

WSML vs. WLDR - Yearly Performance Comparison

	2026 (YTD)	2025
WSML iShares MSCI World Small-Cap ETF	13.15%	29.10%
WLDR Affinity World Leaders Equity ETF	24.91%	32.45%

Correlation

The correlation between WSML and WLDR is 0.74, 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	0.74
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.74

The correlation between WSML and WLDR has been stable across timeframes, ranging from 0.74 to 0.74 - a consistent structural relationship.

WSML vs. WLDR - Sectors Allocation Comparison

Sectors	WSML	WLDR
Industrials	19.2%	7.8%
Technology	16.5%	37.8%
Financial Services	14.3%	13.0%
Healthcare	10.7%	8.2%
Consumer Cyclical	10.0%	7.2%
Real Estate	7.7%	1.6%
Basic Materials	7.3%	2.6%
Energy	4.7%	3.7%
Consumer Defensive	3.5%	6.7%
Utilities	2.9%	2.5%
Communication Services	2.6%	9.1%

Return for Risk

WSML vs. WLDR — Risk / Return Rank

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

WSML

WSML Risk / Return Rank: 65
WSML Sharpe Ratio Rank: 65
WSML Sortino Ratio Rank: 67
WSML Omega Ratio Rank: 62
WSML Calmar Ratio Rank: 62
WSML Martin Ratio Rank: 69

WLDR

WLDR Risk / Return Rank: 92
WLDR Sharpe Ratio Rank: 93
WLDR Sortino Ratio Rank: 92
WLDR Omega Ratio Rank: 89
WLDR Calmar Ratio Rank: 94
WLDR Martin Ratio Rank: 93

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 vs. WLDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Small-Cap ETF (WSML) and Affinity World Leaders Equity ETF (WLDR). 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	WLDR	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.58	-1.02
Sortino ratio: Return per unit of downside risk	2.28	3.47	-1.19
Omega ratio: Gain probability vs. loss probability	1.28	1.43	-0.15
Calmar ratio: Return relative to maximum drawdown	2.27	4.98	-2.72
Martin ratio: Return relative to average drawdown	8.97	17.82	-8.85

WSML vs. WLDR - Sharpe Ratio Comparison

The current WSML Sharpe Ratio is 1.56, which is lower than the WLDR Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of WSML and WLDR, 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

WSML vs. WLDR - Drawdown Comparison

The maximum WSML drawdown since its inception was -10.70%, smaller than the maximum WLDR drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for WSML and WLDR.

Drawdown Indicators

	WSML	WLDR	Difference
Max Drawdown Largest peak-to-trough decline	-10.70%	-44.69%	+33.99%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	-8.86%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.77%	—
Current Drawdown Current decline from peak	-3.17%	-6.01%	+2.84%
Average Drawdown Average peak-to-trough decline	-1.45%	-8.54%	+7.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	2.47%	+0.23%

Volatility

WSML vs. WLDR - Volatility Comparison

The current volatility for iShares MSCI World Small-Cap ETF (WSML) is 3.65%, while Affinity World Leaders Equity ETF (WLDR) has a volatility of 6.62%. This indicates that WSML experiences smaller price fluctuations and is considered to be less risky than WLDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WSML	WLDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	6.62%	-2.97%
Volatility (6M) Calculated over the trailing 6-month period	12.27%	14.42%	-2.15%
Volatility (1Y) Calculated over the trailing 1-year period	15.54%	17.14%	-1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.62%	17.55%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.62%	21.02%	-3.40%

Dividends

WSML vs. WLDR - Dividend Comparison

WSML's dividend yield for the trailing twelve months is around 2.85%, less than WLDR's 7.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
WLDR Affinity World Leaders Equity ETF	7.45%	9.01%	13.99%	2.28%	2.10%	7.55%	1.80%	2.48%	2.82%
WSML iShares MSCI World Small-Cap ETF	2.85%	2.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WSML and WLDR in my portfolio?

WSML and WLDR have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WSML or WLDR?

WLDR has higher volatility (6.62%) compared to WSML (3.65%). In terms of maximum drawdown, WSML dropped -10.70% vs WLDR's -44.69%.

Which ETF is better, WSML or WLDR?

On 1-year performance, WLDR leads with 43.94% vs 24.16% for WSML. On volatility, WSML has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WSML or WLDR?

Over the 1-year period, WLDR has performed better with a 43.94% return vs 24.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF pays a higher dividend yield, WSML or WLDR?

WLDR has the higher dividend yield at 7.45%, compared with 2.85% for WSML.

What is the main difference between WSML and WLDR?

WSML tracks MSCI World Small Cap Index, while WLDR tracks Thomson Reuters StarMine Affinity World Leaders Index. They also come from different issuers: iShares and Regents Park Funds.

Which has better risk-adjusted returns?

WLDR currently has the higher Sharpe Ratio (2.58 vs 1.56), 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.