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XMWD.L vs. SWDA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMWD.L vs. SWDA.L

Last updated Jun 4, 2026

XMWD.L (Xtrackers MSCI World Swap UCITS ETF 1C) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds tracking the MSCI ACWI NR USD, from Xtrackers and iShares respectively. Both are passively managed. Over the past 10 years, XMWD.L returned 13.11%/yr vs 13.16%/yr for SWDA.L. A 0.80 correlation means they provide meaningful diversification when combined. XMWD.L charges 0.45%/yr vs 0.20%/yr for SWDA.L.

Performance

XMWD.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI World Swap UCITS ETF 1C (XMWD.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XMWD.L is traded in USD, while SWDA.L is traded in GBp. To make them comparable, the SWDA.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with XMWD.L having a 9.90% return and SWDA.L slightly lower at 9.66%. Both investments have delivered pretty close results over the past 10 years, with XMWD.L having a 13.11% annualized return and SWDA.L not far ahead at 13.16%.

XMWD.L

1D
-0.47%
1M
3.86%
YTD
9.90%
6M
11.19%
1Y
26.38%
3Y*
20.74%
5Y*
11.73%
10Y*
13.11%

SWDA.L

1D
-0.52%
1M
4.05%
YTD
9.66%
6M
10.89%
1Y
26.32%
3Y*
20.84%
5Y*
11.84%
10Y*
13.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMWD.L vs. SWDA.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMWD.L
Xtrackers MSCI World Swap UCITS ETF 1C		9.90%21.37%18.35%23.76%-17.92%22.03%16.04%28.32%-9.21%22.09%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		9.66%21.14%19.09%23.79%-18.13%22.52%15.68%27.97%-9.23%22.42%

Correlation

The correlation between XMWD.L and SWDA.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.89

Correlation (10Y)
Calculated over the trailing 10-year period

0.86

Correlation (All Time)
Calculated using the full available price history since Nov 11, 2009

0.80

The correlation between XMWD.L and SWDA.L shifts across timeframes, from 0.80 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

XMWD.L vs. SWDA.L - Sectors Allocation Comparison

Sectors
XMWD.L
SWDA.L

Technology

28.3%
30.0%

Financial Services

15.7%
15.4%

Industrials

11.4%
10.9%

Consumer Cyclical

9.3%
9.0%

Communication Services

9.3%
9.2%

Healthcare

8.8%
8.7%

Consumer Defensive

5.2%
5.2%

Energy

4.2%
4.2%

Basic Materials

3.3%
3.2%

Utilities

2.7%
2.5%

Real Estate

1.9%
1.8%

Technology

XMWD.L
28.3%
SWDA.L
30.0%

Financial Services

XMWD.L
15.7%
SWDA.L
15.4%

Industrials

XMWD.L
11.4%
SWDA.L
10.9%

Consumer Cyclical

XMWD.L
9.3%
SWDA.L
9.0%

Communication Services

XMWD.L
9.3%
SWDA.L
9.2%

Healthcare

XMWD.L
8.8%
SWDA.L
8.7%

Consumer Defensive

XMWD.L
5.2%
SWDA.L
5.2%

Energy

XMWD.L
4.2%
SWDA.L
4.2%

Basic Materials

XMWD.L
3.3%
SWDA.L
3.2%

Utilities

XMWD.L
2.7%
SWDA.L
2.5%

Real Estate

XMWD.L
1.9%
SWDA.L
1.8%

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Xtrackers MSCI World Swap UCITS ETF 1C

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with XMWD.L:
XMWD.L vs. VXUSXMWD.L vs. ACWI.LXMWD.L vs. XLKQ.LXMWD.L vs. PHPP.LXMWD.L vs. BATG.LXMWD.L vs. GLDXMWD.L vs. SBUY.L
Often compared with SWDA.L:
SWDA.L vs. IWDA.LSWDA.L vs. VWRP.LSWDA.L vs. VWCE.DESWDA.L vs. SPYSWDA.L vs. IUSQ.DESWDA.L vs. EUN.LSWDA.L vs. VOO

Return for Risk

XMWD.L vs. SWDA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMWD.L
XMWD.L Risk / Return Rank: 6969
Overall Rank
XMWD.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
XMWD.L Sortino Ratio Rank: 7474
Sortino Ratio Rank
XMWD.L Omega Ratio Rank: 6868
Omega Ratio Rank
XMWD.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
XMWD.L Martin Ratio Rank: 7272
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8181
Overall Rank
SWDA.L Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8282
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8181
Martin Ratio Rank
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.

XMWD.L vs. SWDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Swap UCITS ETF 1C (XMWD.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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.

XMWD.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
2.21
2.30

-0.09

Sortino ratioReturn per unit of downside risk
3.30
3.40

-0.10

Omega ratioGain probability vs. loss probability

1.40

1.42

-0.01

Calmar ratioReturn relative to maximum drawdown

3.09

3.05

+0.04

Martin ratioReturn relative to average drawdown

13.28

13.43

-0.15

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMWD.L vs. SWDA.L - Sharpe Ratio Comparison

The current XMWD.L Sharpe Ratio is 2.21, which is comparable to the SWDA.L Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of XMWD.L and SWDA.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.

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Sharpe Ratios by Period

XMWD.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.21

2.30

-0.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.77

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.85

0.83

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.73

-0.29

Drawdowns

XMWD.L vs. SWDA.L - Drawdown Comparison

The maximum XMWD.L drawdown since its inception was -56.59%, which is greater than SWDA.L's maximum drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for XMWD.L and SWDA.L.

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Drawdown Indicators

XMWD.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-56.59%

-33.62%

-22.97%

Max Drawdown (1Y)

Largest decline over 1 year

-8.50%

-8.59%

+0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-17.55%

-17.07%

-0.48%

Max Drawdown (5Y)

Largest decline over 5 years

-25.94%

-26.50%

+0.56%

Max Drawdown (10Y)

Largest decline over 10 years

-34.04%

-33.62%

-0.42%

Current Drawdown

Current decline from peak

-0.47%

-0.52%

+0.05%

Average Drawdown

Average peak-to-trough decline

-7.96%

-4.58%

-3.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

1.95%

+0.03%

Volatility

XMWD.L vs. SWDA.L - Volatility Comparison

Xtrackers MSCI World Swap UCITS ETF 1C (XMWD.L) has a higher volatility of 3.42% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.76%. This indicates that XMWD.L's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMWD.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.42%

2.76%

+0.66%

Volatility (6M)

Calculated over the trailing 6-month period

9.13%

8.57%

+0.56%

Volatility (1Y)

Calculated over the trailing 1-year period

11.88%

11.42%

+0.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.17%

15.30%

+0.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.70%

15.74%

+0.96%

XMWD.L vs. SWDA.L - Expense Ratio Comparison

XMWD.L has a 0.45% expense ratio, which is higher than SWDA.L's 0.20% expense ratio.

Dividends

XMWD.L vs. SWDA.L - Dividend Comparison

Neither XMWD.L nor SWDA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.92, XMWD.L and SWDA.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.

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

SWDA.L is cheaper with a 0.20% expense ratio, compared with 0.45% for XMWD.L.

Both ETFs track MSCI ACWI NR USD. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.45% for XMWD.L and 0.20% for SWDA.L.

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