XDWU.L vs. IUSE.L

Last updated Jul 16, 2026

XDWU.L (Xtrackers MSCI World Utilities UCITS ETF 1C) and IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) are both exchange-traded funds - XDWU.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD, while IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index. Both are passively managed. Over the past 10 years, XDWU.L returned 8.72%/yr vs 12.63%/yr for IUSE.L. At a 0.49 correlation, their price movements are largely independent. XDWU.L charges 0.25%/yr vs 0.20%/yr for IUSE.L.

Performance

XDWU.L vs. IUSE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI World Utilities UCITS ETF 1C (XDWU.L) and iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XDWU.L is traded in USD, while IUSE.L is traded in EUR. To make them comparable, the IUSE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XDWU.L achieves a 9.46% return, which is significantly higher than IUSE.L's 6.32% return. Over the past 10 years, XDWU.L has underperformed IUSE.L with an annualized return of 8.72%, while IUSE.L has yielded a comparatively higher 12.63% annualized return.

XDWU.L

• 1D: -0.30%
• 1M: 2.39%
• 6M: 8.54%
• YTD: 9.46%
• 1Y: 19.08%
• 3Y*: 15.46%
• 5Y*: 9.82%
• 10Y*: 8.72%

IUSE.L

• 1D: 0.59%
• 1M: -1.09%
• 6M: 7.00%
• YTD: 6.32%
• 1Y: 17.66%
• 3Y*: 18.36%
• 5Y*: 9.79%
• 10Y*: 12.63%

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

XDWU.L vs. IUSE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XDWU.L Xtrackers MSCI World Utilities UCITS ETF 1C	9.46%	25.35%	13.23%	0.32%	-3.57%	10.56%	4.36%	22.34%	2.48%	13.00%
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc	6.32%	30.39%	15.59%	26.94%	-25.91%	19.14%	24.98%	23.88%	-12.67%	35.87%

Correlation

The correlation between XDWU.L and IUSE.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Nov 22, 2010	0.49

Over the past year, the correlation between XDWU.L and IUSE.L has dropped to 0.19 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

XDWU.L vs. IUSE.L - Sectors Allocation Comparison

Sectors	XDWU.L	IUSE.L
Utilities	97.3%	2.1%
Industrials	1.4%	7.8%
Energy	0.5%	3.1%
Consumer Cyclical	0.5%	9.9%
Basic Materials	-	1.7%
Communication Services	-	10.6%
Consumer Defensive	-	4.5%
Financial Services	-	11.1%
Healthcare	-	8.3%
Real Estate	-	1.8%
Technology	-	39.1%

Return for Risk

XDWU.L vs. IUSE.L — Risk / Return Rank

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

XDWU.L

XDWU.L Risk / Return Rank: 51
XDWU.L Sharpe Ratio Rank: 53
XDWU.L Sortino Ratio Rank: 50
XDWU.L Omega Ratio Rank: 48
XDWU.L Calmar Ratio Rank: 58
XDWU.L Martin Ratio Rank: 45

IUSE.L

IUSE.L Risk / Return Rank: 58
IUSE.L Sharpe Ratio Rank: 57
IUSE.L Sortino Ratio Rank: 62
IUSE.L Omega Ratio Rank: 55
IUSE.L Calmar Ratio Rank: 53
IUSE.L Martin Ratio Rank: 61

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.

XDWU.L vs. IUSE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Utilities UCITS ETF 1C (XDWU.L) and iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.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.

	XDWU.L	IUSE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.23	+0.26
Sortino ratio: Return per unit of downside risk	2.05	1.88	+0.18
Omega ratio: Gain probability vs. loss probability	1.25	1.21	+0.04
Calmar ratio: Return relative to maximum drawdown	2.36	1.35	+1.01
Martin ratio: Return relative to average drawdown	6.00	4.97	+1.04

XDWU.L vs. IUSE.L - Sharpe Ratio Comparison

The current XDWU.L Sharpe Ratio is 1.49, which is comparable to the IUSE.L Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of XDWU.L and IUSE.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.

Drawdowns

XDWU.L vs. IUSE.L - Drawdown Comparison

The maximum XDWU.L drawdown since its inception was -33.87%, smaller than the maximum IUSE.L drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for XDWU.L and IUSE.L.

Drawdown Indicators

	XDWU.L	IUSE.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.87%	-36.96%	+3.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-13.06%	+5.01%
Max Drawdown (3Y) Largest decline over 3 years	-17.56%	-15.47%	-2.09%
Max Drawdown (5Y) Largest decline over 5 years	-21.92%	-36.96%	+15.04%
Max Drawdown (10Y) Largest decline over 10 years	-33.87%	-36.96%	+3.09%
Current Drawdown Current decline from peak	-3.62%	-2.12%	-1.50%
Average Drawdown Average peak-to-trough decline	-5.28%	-8.11%	+2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	3.55%	-0.38%

Volatility

XDWU.L vs. IUSE.L - Volatility Comparison

Xtrackers MSCI World Utilities UCITS ETF 1C (XDWU.L) has a higher volatility of 3.97% compared to iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) at 3.56%. This indicates that XDWU.L's price experiences larger fluctuations and is considered to be riskier than IUSE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDWU.L	IUSE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	3.56%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	10.85%	11.25%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	14.35%	-1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	19.39%	-4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.63%	18.86%	-3.23%

XDWU.L vs. IUSE.L - Expense Ratio Comparison

XDWU.L has a 0.25% expense ratio, which is higher than IUSE.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XDWU.L vs. IUSE.L - Dividend Comparison

Neither XDWU.L nor IUSE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDWU.L and IUSE.L in my portfolio?

XDWU.L and IUSE.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDWU.L or IUSE.L?

On fees, IUSE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDWU.L or IUSE.L?

IUSE.L is cheaper with a 0.20% expense ratio, compared with 0.25% for XDWU.L.

What is the main difference between XDWU.L and IUSE.L?

XDWU.L is categorized as Utilities Equities, while IUSE.L is S&P 500. XDWU.L tracks MSCI World/Utilities NR USD, while IUSE.L tracks S&P 500 EUR Hedged Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for XDWU.L and 0.20% for IUSE.L.