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XWD.TO vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XWD.TO vs. ACWI

Last updated Jun 5, 2026

XWD.TO (iShares MSCI World Index ETF) and ACWI (iShares MSCI ACWI ETF) are both Global Equities funds from iShares - XWD.TO tracks the Morningstar Gbl GR CAD while ACWI tracks the MSCI All Country World Index. Both are passively managed. Over the past 10 years, XWD.TO returned 13.55%/yr vs 13.74%/yr for ACWI. Their correlation of 0.89 suggests significant overlap in exposure. XWD.TO charges 0.48%/yr vs 0.32%/yr for ACWI.

Performance

XWD.TO vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI World Index ETF (XWD.TO) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XWD.TO is traded in CAD, while ACWI is traded in USD. To make them comparable, the ACWI values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XWD.TO achieves a 11.99% return, which is significantly lower than ACWI's 14.01% return. Both investments have delivered pretty close results over the past 10 years, with XWD.TO having a 13.55% annualized return and ACWI not far ahead at 13.74%.

XWD.TO

1D
0.51%
1M
6.27%
YTD
11.99%
6M
10.63%
1Y
28.11%
3Y*
21.72%
5Y*
14.88%
10Y*
13.55%

ACWI

1D
0.40%
1M
6.68%
YTD
14.01%
6M
12.69%
1Y
31.43%
3Y*
22.77%
5Y*
14.55%
10Y*
13.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XWD.TO vs. ACWI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XWD.TO
iShares MSCI World Index ETF		11.99%15.25%28.07%20.32%-11.57%21.87%11.41%21.44%-1.52%14.42%
ACWI
iShares MSCI ACWI ETF		14.01%16.80%27.54%19.58%-12.57%17.59%14.37%20.37%-1.49%16.42%

Correlation

The correlation between XWD.TO and ACWI is 0.90, 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

0.90

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

0.93

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

0.92

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

0.92

Correlation (All Time)
Calculated using the full available price history since Jun 25, 2009

0.89

The correlation between XWD.TO and ACWI has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

XWD.TO vs. ACWI - Sectors Allocation Comparison

Sectors
XWD.TO
ACWI

Technology

29.0%
29.4%

Financial Services

15.9%
16.1%

Industrials

11.0%
10.9%

Consumer Cyclical

9.3%
9.3%

Communication Services

9.1%
9.0%

Healthcare

8.6%
8.1%

Consumer Defensive

5.3%
5.0%

Energy

4.1%
4.2%

Basic Materials

3.2%
3.7%

Utilities

2.7%
2.6%

Real Estate

1.9%
1.8%

Technology

XWD.TO
29.0%
ACWI
29.4%

Financial Services

XWD.TO
15.9%
ACWI
16.1%

Industrials

XWD.TO
11.0%
ACWI
10.9%

Consumer Cyclical

XWD.TO
9.3%
ACWI
9.3%

Communication Services

XWD.TO
9.1%
ACWI
9.0%

Healthcare

XWD.TO
8.6%
ACWI
8.1%

Consumer Defensive

XWD.TO
5.3%
ACWI
5.0%

Energy

XWD.TO
4.1%
ACWI
4.2%

Basic Materials

XWD.TO
3.2%
ACWI
3.7%

Utilities

XWD.TO
2.7%
ACWI
2.6%

Real Estate

XWD.TO
1.9%
ACWI
1.8%

Compare stocks, funds, or ETFs

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iShares MSCI World Index ETF

iShares MSCI ACWI ETF

Often compared with XWD.TO:
XWD.TO vs. XEQT.TOXWD.TO vs. URTHXWD.TO vs. VTXWD.TO vs. VWRA.LXWD.TO vs. ZGQ.TOXWD.TO vs. SPYXWD.TO vs. VEQT.TO
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI

Return for Risk

XWD.TO vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XWD.TO
XWD.TO Risk / Return Rank: 7676
Overall Rank
XWD.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
XWD.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XWD.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XWD.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
XWD.TO Martin Ratio Rank: 7878
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 7070
Overall Rank
ACWI Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 7171
Sortino Ratio Rank
ACWI Omega Ratio Rank: 7171
Omega Ratio Rank
ACWI Calmar Ratio Rank: 6262
Calmar Ratio Rank
ACWI Martin Ratio Rank: 7373
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.

XWD.TO vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Index ETF (XWD.TO) 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.

XWD.TOACWIDifference
Sharpe ratioReturn per unit of total volatility
2.42
2.58

-0.16

Sortino ratioReturn per unit of downside risk
3.37
3.54

-0.16

Omega ratioGain probability vs. loss probability

1.45

1.50

-0.05

Calmar ratioReturn relative to maximum drawdown

3.66

3.91

-0.25

Martin ratioReturn relative to average drawdown

14.98

15.89

-0.92

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

XWD.TO vs. ACWI - Sharpe Ratio Comparison

The current XWD.TO Sharpe Ratio is 2.42, which is comparable to the ACWI Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of XWD.TO 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.

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Sharpe Ratios by Period

XWD.TOACWIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.42

2.58

-0.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.09

1.07

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.89

0.93

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.91

0.91

-0.01

Drawdowns

XWD.TO vs. ACWI - Drawdown Comparison

The maximum XWD.TO drawdown since its inception was -27.48%, roughly equal to the maximum ACWI drawdown of -27.29%. Use the drawdown chart below to compare losses from any high point for XWD.TO and ACWI.

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Drawdown Indicators

XWD.TOACWIDifference

Max Drawdown

Largest peak-to-trough decline

-27.48%

-27.29%

-0.19%

Max Drawdown (1Y)

Largest decline over 1 year

-7.71%

-8.08%

+0.37%

Max Drawdown (3Y)

Largest decline over 3 years

-16.77%

-16.34%

-0.43%

Max Drawdown (5Y)

Largest decline over 5 years

-21.40%

-21.20%

-0.20%

Max Drawdown (10Y)

Largest decline over 10 years

-27.48%

-27.29%

-0.19%

Current Drawdown

Current decline from peak

-0.29%

-0.01%

-0.28%

Average Drawdown

Average peak-to-trough decline

-3.49%

-3.58%

+0.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.88%

1.98%

-0.10%

Volatility

XWD.TO vs. ACWI - Volatility Comparison

iShares MSCI World Index ETF (XWD.TO) and iShares MSCI ACWI ETF (ACWI) have volatilities of 3.55% and 3.65%, 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.

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Volatility by Period

XWD.TOACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.55%

3.65%

-0.10%

Volatility (6M)

Calculated over the trailing 6-month period

9.04%

9.88%

-0.84%

Volatility (1Y)

Calculated over the trailing 1-year period

11.68%

12.24%

-0.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.71%

13.65%

+0.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.36%

14.87%

+0.49%

XWD.TO vs. ACWI - Expense Ratio Comparison

XWD.TO has a 0.48% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

XWD.TO vs. ACWI - Dividend Comparison

XWD.TO's dividend yield for the trailing twelve months is around 1.19%, less than ACWI's 1.38% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.38%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
XWD.TO
iShares MSCI World Index ETF		1.19%1.33%1.19%1.39%1.36%1.21%1.06%1.77%1.94%1.63%1.83%1.84%

Frequently Asked Questions

XWD.TO and ACWI have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ACWI is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ACWI is cheaper with a 0.32% expense ratio, compared with 0.48% for XWD.TO.

XWD.TO tracks Morningstar Gbl GR CAD, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.48% for XWD.TO and 0.32% for ACWI.

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