XOEF vs. ACWI

Last updated Jul 14, 2026

XOEF (iShares S&P 500 ex S&P 100 ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - XOEF is a S&P 500 fund tracking the S&P 500 Ex-S&P 100 Select Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past year, XOEF returned 21.04% vs 22.55% for ACWI. Their correlation of 0.83 suggests significant overlap in exposure. XOEF charges 0.20%/yr vs 0.32%/yr for ACWI.

Performance

XOEF vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 ex S&P 100 ETF (XOEF) 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, XOEF achieves a 15.88% return, which is significantly higher than ACWI's 10.93% return.

XOEF

• 1D: -0.53%
• 1M: 0.64%
• 6M: 11.35%
• YTD: 15.88%
• 1Y: 21.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACWI

• 1D: -1.10%
• 1M: 0.31%
• 6M: 7.96%
• YTD: 10.93%
• 1Y: 22.55%
• 3Y*: 18.82%
• 5Y*: 10.73%
• 10Y*: 12.51%

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

XOEF vs. ACWI - Yearly Performance Comparison

	2026 (YTD)	2025
XOEF iShares S&P 500 ex S&P 100 ETF	15.88%	4.27%
ACWI iShares MSCI ACWI ETF	10.93%	10.75%

Correlation

The correlation between XOEF and ACWI is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.83

The correlation between XOEF and ACWI has been stable across timeframes, ranging from 0.83 to 0.83 - a consistent structural relationship.

Return for Risk

XOEF vs. ACWI — Risk / Return Rank

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

XOEF

XOEF Risk / Return Rank: 65
XOEF Sharpe Ratio Rank: 63
XOEF Sortino Ratio Rank: 63
XOEF Omega Ratio Rank: 58
XOEF Calmar Ratio Rank: 69
XOEF Martin Ratio Rank: 73

ACWI

ACWI Risk / Return Rank: 63
ACWI Sharpe Ratio Rank: 62
ACWI Sortino Ratio Rank: 62
ACWI Omega Ratio Rank: 62
ACWI Calmar Ratio Rank: 58
ACWI Martin Ratio Rank: 69

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.

XOEF vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 ex S&P 100 ETF (XOEF) 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.

	XOEF	ACWI	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.65	-0.01
Sortino ratio: Return per unit of downside risk	2.35	2.31	+0.05
Omega ratio: Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	2.76	2.33	+0.43
Martin ratio: Return relative to average drawdown	10.67	9.95	+0.71

XOEF vs. ACWI - Sharpe Ratio Comparison

The current XOEF Sharpe Ratio is 1.65, which is comparable to the ACWI Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of XOEF 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

XOEF vs. ACWI - Drawdown Comparison

The maximum XOEF drawdown since its inception was -7.66%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for XOEF and ACWI.

Drawdown Indicators

	XOEF	ACWI	Difference
Max Drawdown Largest peak-to-trough decline	-7.66%	-56.00%	+48.34%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-9.73%	+2.07%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.53%	—
Current Drawdown Current decline from peak	-1.23%	-1.89%	+0.66%
Average Drawdown Average peak-to-trough decline	-1.26%	-8.57%	+7.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.27%	-0.29%

Volatility

XOEF vs. ACWI - Volatility Comparison

The current volatility for iShares S&P 500 ex S&P 100 ETF (XOEF) is 4.12%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 4.69%. This indicates that XOEF 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

	XOEF	ACWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	4.69%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	9.93%	11.52%	-1.59%
Volatility (1Y) Calculated over the trailing 1-year period	12.87%	13.72%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.82%	16.21%	-3.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.82%	17.04%	-4.22%

XOEF vs. ACWI - Expense Ratio Comparison

XOEF has a 0.20% expense ratio, which is lower than ACWI's 0.32% expense ratio.

Dividends

XOEF vs. ACWI - Dividend Comparison

XOEF's dividend yield for the trailing twelve months is around 1.05%, less than ACWI's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.44%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
XOEF iShares S&P 500 ex S&P 100 ETF	1.05%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XOEF and ACWI in my portfolio?

XOEF and ACWI have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOEF or ACWI?

ACWI has higher volatility (4.69%) compared to XOEF (4.12%). In terms of maximum drawdown, XOEF dropped -7.66% vs ACWI's -56.00%.

Which ETF is better, XOEF or ACWI?

On 1-year performance, ACWI leads with 22.55% vs 21.04% for XOEF. On fees, XOEF is cheaper at 0.20% per year. On volatility, XOEF has been the lower-risk option at 4.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOEF or ACWI?

Over the 1-year period, ACWI has performed better with a 22.55% return vs 21.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOEF or ACWI?

XOEF is cheaper with a 0.20% expense ratio, compared with 0.32% for ACWI.

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

ACWI has the higher dividend yield at 1.44%, compared with 1.05% for XOEF.

What is the main difference between XOEF and ACWI?

XOEF is categorized as S&P 500, while ACWI is Global Equities. XOEF tracks S&P 500 Ex-S&P 100 Select Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.20% for XOEF and 0.32% for ACWI.

Which has better risk-adjusted returns?

ACWI currently has the higher Sharpe Ratio (1.65 vs 1.65), 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.