XJR vs. ACWI

Last updated Jun 24, 2026

XJR (iShares ESG Screened S&P Small-Cap ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - XJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Sustainability Screened Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 5 years, XJR returned 6.15%/yr vs 10.74%/yr for ACWI. A 0.78 correlation means they provide meaningful diversification when combined. XJR charges 0.12%/yr vs 0.32%/yr for ACWI.

Performance

XJR vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Screened S&P Small-Cap ETF (XJR) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XJR achieves a 19.44% return, which is significantly higher than ACWI's 9.86% return.

XJR

• 1D: -0.38%
• 1M: 4.96%
• YTD: 19.44%
• 6M: 17.14%
• 1Y: 32.21%
• 3Y*: 16.10%
• 5Y*: 6.15%
• 10Y*: —

ACWI

• 1D: -2.00%
• 1M: -0.35%
• YTD: 9.86%
• 6M: 9.11%
• 1Y: 25.60%
• 3Y*: 20.00%
• 5Y*: 10.74%
• 10Y*: 13.09%

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

XJR vs. ACWI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XJR iShares ESG Screened S&P Small-Cap ETF	19.44%	4.73%	9.59%	16.39%	-17.30%	24.96%	35.61%
ACWI iShares MSCI ACWI ETF	9.86%	22.41%	17.45%	22.27%	-18.39%	18.66%	17.66%

Correlation

The correlation between XJR and ACWI is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020	0.78

The correlation between XJR and ACWI has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

XJR vs. ACWI - Sectors Allocation Comparison

Sectors	XJR	ACWI
Financial Services	18.2%	15.9%
Technology	16.8%	33.0%
Industrials	15.5%	10.3%
Consumer Cyclical	13.5%	8.6%
Healthcare	10.7%	7.7%
Real Estate	7.6%	1.6%
Energy	4.7%	3.6%
Basic Materials	4.5%	3.6%
Consumer Defensive	2.7%	4.7%
Communication Services	2.5%	8.0%
Utilities	2.0%	2.7%

Return for Risk

XJR vs. ACWI — Risk / Return Rank

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

XJR

XJR Risk / Return Rank: 61
XJR Sharpe Ratio Rank: 57
XJR Sortino Ratio Rank: 60
XJR Omega Ratio Rank: 53
XJR Calmar Ratio Rank: 72
XJR Martin Ratio Rank: 65

ACWI

ACWI Risk / Return Rank: 58
ACWI Sharpe Ratio Rank: 58
ACWI Sortino Ratio Rank: 56
ACWI Omega Ratio Rank: 58
ACWI Calmar Ratio Rank: 55
ACWI Martin Ratio Rank: 65

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.

XJR vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Screened S&P Small-Cap ETF (XJR) and iShares MSCI ACWI ETF (ACWI). 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.

	XJR	ACWI	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.89	-0.09
Sortino ratio: Return per unit of downside risk	2.63	2.60	+0.03
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	3.43	2.64	+0.79
Martin ratio: Return relative to average drawdown	11.11	11.51	-0.39

XJR vs. ACWI - Sharpe Ratio Comparison

The current XJR Sharpe Ratio is 1.80, which is comparable to the ACWI Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of XJR and ACWI, 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

XJR vs. ACWI - Drawdown Comparison

The maximum XJR drawdown since its inception was -27.14%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for XJR and ACWI.

Drawdown Indicators

	XJR	ACWI	Difference
Max Drawdown Largest peak-to-trough decline	-27.14%	-56.00%	+28.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.43%	-9.73%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-27.14%	-16.55%	-10.59%
Max Drawdown (5Y) Largest decline over 5 years	-27.14%	-26.42%	-0.72%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.53%	—
Current Drawdown Current decline from peak	-0.38%	-2.83%	+2.45%
Average Drawdown Average peak-to-trough decline	-9.39%	-8.59%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	2.23%	+0.68%

Volatility

XJR vs. ACWI - Volatility Comparison

The current volatility for iShares ESG Screened S&P Small-Cap ETF (XJR) is 5.13%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 5.57%. This indicates that XJR experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XJR	ACWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	5.57%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	12.61%	11.38%	+1.23%
Volatility (1Y) Calculated over the trailing 1-year period	18.03%	13.64%	+4.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.44%	16.20%	+5.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.70%	17.08%	+4.62%

XJR vs. ACWI - Expense Ratio Comparison

XJR has a 0.12% expense ratio, which is lower than ACWI's 0.32% expense ratio.

Dividends

XJR vs. ACWI - Dividend Comparison

XJR's dividend yield for the trailing twelve months is around 0.96%, less than ACWI's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.45%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
XJR iShares ESG Screened S&P Small-Cap ETF	0.96%	1.14%	1.96%	0.92%	1.29%	2.00%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XJR and ACWI in my portfolio?

XJR and ACWI have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XJR or ACWI?

ACWI has higher volatility (5.57%) compared to XJR (5.13%). In terms of maximum drawdown, XJR dropped -27.14% vs ACWI's -56.00%.

Which ETF is better, XJR or ACWI?

On 5-year performance, ACWI leads with 10.74% vs 6.15% for XJR. On fees, XJR is cheaper at 0.12% per year. On volatility, XJR has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XJR or ACWI?

Over the 5-year period, ACWI has performed better with a 10.74% return vs 6.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XJR or ACWI?

XJR is cheaper with a 0.12% expense ratio, compared with 0.32% for ACWI.

Which ETF pays a higher dividend yield, XJR or ACWI?

ACWI has the higher dividend yield at 1.45%, compared with 0.96% for XJR.

What is the main difference between XJR and ACWI?

XJR is categorized as Small Cap Blend Equities, while ACWI is Global Equities. XJR tracks S&P SmallCap 600 Sustainability Screened Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.12% for XJR and 0.32% for ACWI.

Which has better risk-adjusted returns?

ACWI currently has the higher Sharpe Ratio (1.89 vs 1.80), 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.