XDWI.L vs. WNDU.L

Last updated Jun 5, 2026

XDWI.L (Xtrackers MSCI World Industrials UCITS ETF 1C) and WNDU.L (SPDR MSCI World Industrials UCITS ETF) are both Industrials Equities funds tracking the MSCI World/Materials NR USD, from Xtrackers and State Street respectively. Both are passively managed. Over the past 10 years, XDWI.L returned 12.32%/yr vs 12.33%/yr for WNDU.L. With a 0.98 correlation, they move nearly in lockstep. XDWI.L charges 0.25%/yr vs 0.30%/yr for WNDU.L.

Performance

XDWI.L vs. WNDU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI World Industrials UCITS ETF 1C (XDWI.L) and SPDR MSCI World Industrials UCITS ETF (WNDU.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with XDWI.L having a 11.24% return and WNDU.L slightly higher at 11.60%. Both investments have delivered pretty close results over the past 10 years, with XDWI.L having a 12.32% annualized return and WNDU.L not far ahead at 12.33%.

XDWI.L

• 1D: 0.07%
• 1M: 0.47%
• YTD: 11.24%
• 6M: 12.95%
• 1Y: 21.87%
• 3Y*: 21.49%
• 5Y*: 11.45%
• 10Y*: 12.32%

WNDU.L

• 1D: 0.27%
• 1M: 0.54%
• YTD: 11.60%
• 6M: 12.72%
• 1Y: 21.80%
• 3Y*: 21.53%
• 5Y*: 11.43%
• 10Y*: 12.33%

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

XDWI.L vs. WNDU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XDWI.L Xtrackers MSCI World Industrials UCITS ETF 1C	11.24%	25.51%	13.06%	23.32%	-12.72%	16.09%	11.85%	27.17%	-14.83%	25.36%
WNDU.L SPDR MSCI World Industrials UCITS ETF	11.60%	24.98%	13.42%	22.92%	-12.69%	16.14%	11.74%	27.43%	-14.96%	25.36%

Correlation

The correlation between XDWI.L and WNDU.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since May 5, 2016	0.98

The correlation between XDWI.L and WNDU.L has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

XDWI.L vs. WNDU.L - Sectors Allocation Comparison

Sectors	XDWI.L	WNDU.L
Industrials	95.1%	95.1%
Technology	3.5%	3.5%
Utilities	2.8%	2.8%
Communication Services	0.6%	0.6%
Consumer Cyclical	0.3%	0.3%
Financial Services	0.3%	0.3%
Consumer Defensive	0.1%	0.1%
Basic Materials	0.1%	0.1%
Real Estate	0.0%	0.0%
Energy	-	0.1%
Healthcare	-	-

Return for Risk

XDWI.L vs. WNDU.L — Risk / Return Rank

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

XDWI.L

XDWI.L Risk / Return Rank: 42
XDWI.L Sharpe Ratio Rank: 39
XDWI.L Sortino Ratio Rank: 43
XDWI.L Omega Ratio Rank: 40
XDWI.L Calmar Ratio Rank: 40
XDWI.L Martin Ratio Rank: 46

WNDU.L

WNDU.L Risk / Return Rank: 41
WNDU.L Sharpe Ratio Rank: 39
WNDU.L Sortino Ratio Rank: 42
WNDU.L Omega Ratio Rank: 40
WNDU.L Calmar Ratio Rank: 39
WNDU.L Martin Ratio Rank: 45

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.

XDWI.L vs. WNDU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Industrials UCITS ETF 1C (XDWI.L) and SPDR MSCI World Industrials UCITS ETF (WNDU.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.

	XDWI.L	WNDU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.36	+0.01
Sortino ratio: Return per unit of downside risk	2.14	2.10	+0.05
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	1.93	1.87	+0.06
Martin ratio: Return relative to average drawdown	7.36	7.31	+0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDWI.L vs. WNDU.L - Sharpe Ratio Comparison

The current XDWI.L Sharpe Ratio is 1.38, which is comparable to the WNDU.L Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of XDWI.L and WNDU.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

	XDWI.L	WNDU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.36	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.67	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.70	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.71	0.00

Drawdowns

XDWI.L vs. WNDU.L - Drawdown Comparison

The maximum XDWI.L drawdown since its inception was -38.92%, roughly equal to the maximum WNDU.L drawdown of -38.99%. Use the drawdown chart below to compare losses from any high point for XDWI.L and WNDU.L.

Drawdown Indicators

	XDWI.L	WNDU.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.92%	-38.99%	+0.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.28%	-11.62%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-15.25%	-15.33%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-27.26%	-27.15%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	-38.92%	-38.99%	+0.07%
Current Drawdown Current decline from peak	-2.23%	-2.09%	-0.14%
Average Drawdown Average peak-to-trough decline	-5.38%	-5.35%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.97%	0.00%

Volatility

XDWI.L vs. WNDU.L - Volatility Comparison

Xtrackers MSCI World Industrials UCITS ETF 1C (XDWI.L) and SPDR MSCI World Industrials UCITS ETF (WNDU.L) have volatilities of 5.38% and 5.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDWI.L	WNDU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	5.55%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	13.31%	13.35%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.83%	15.92%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	17.03%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.77%	17.79%	-0.02%

XDWI.L vs. WNDU.L - Expense Ratio Comparison

XDWI.L has a 0.25% expense ratio, which is lower than WNDU.L's 0.30% expense ratio.

Dividends

XDWI.L vs. WNDU.L - Dividend Comparison

Neither XDWI.L nor WNDU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDWI.L and WNDU.L in my portfolio?

With a correlation of 0.97, XDWI.L and WNDU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XDWI.L or WNDU.L?

On fees, XDWI.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDWI.L or WNDU.L?

XDWI.L is cheaper with a 0.25% expense ratio, compared with 0.30% for WNDU.L.

What is the main difference between XDWI.L and WNDU.L?

Both ETFs track MSCI World/Materials NR USD. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.25% for XDWI.L and 0.30% for WNDU.L.