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

XWD.TO vs. ACWI

Last updated Jul 1, 2026
See Documentation

XWD.TO (iShares MSCI World Index ETF) and ACWI (iShares MSCI ACWI ETF) are both Global Equities funds from iShares - XWD.TO tracks the MSCI World Net TR Index in CAD while ACWI tracks the MSCI All Country World Index. Both are passively managed. Over the past 10 years, XWD.TO returned 13.78%/yr vs 13.90%/yr for ACWI. A 0.69 correlation means they provide meaningful diversification when combined. 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 13.24% return, which is significantly lower than ACWI's 15.85% return. Both investments have delivered pretty close results over the past 10 years, with XWD.TO having a 13.78% annualized return and ACWI not far ahead at 13.90%.

XWD.TO

1D
0.51%
1M
2.10%
YTD
13.24%
6M
12.77%
1Y
26.06%
3Y*
21.36%
5Y*
14.40%
10Y*
13.78%

ACWI

1D
0.87%
1M
2.73%
YTD
15.85%
6M
15.17%
1Y
28.71%
3Y*
22.62%
5Y*
14.08%
10Y*
13.90%
*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		13.24%15.25%28.07%20.32%-11.57%21.63%11.41%21.44%-1.52%14.43%
ACWI
iShares MSCI ACWI ETF		15.85%16.83%27.39%19.37%-13.21%18.60%13.58%21.37%-1.55%15.92%

Correlation

The correlation between XWD.TO and ACWI is 0.80, 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

0.80

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

0.76

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

0.76

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

0.71

Correlation (All Time)
Calculated using the full available price history since Jun 24, 2009

0.69

The correlation between XWD.TO and ACWI shifts across timeframes, from 0.69 (all time) to 0.80 (1 year), reflecting how their relationship changes across market environments.

XWD.TO vs. ACWI - Sectors Allocation Comparison

Sectors
XWD.TO
ACWI

Technology

31.5%
33.2%

Financial Services

15.2%
16.1%

Industrials

10.6%
10.1%

Consumer Cyclical

9.2%
8.4%

Communication Services

9.0%
7.9%

Healthcare

8.5%
8.2%

Consumer Defensive

4.9%
4.7%

Energy

3.7%
3.6%

Basic Materials

3.2%
3.3%

Utilities

2.5%
2.6%

Real Estate

1.7%
1.5%

Technology

XWD.TO
31.5%
ACWI
33.2%

Financial Services

XWD.TO
15.2%
ACWI
16.1%

Industrials

XWD.TO
10.6%
ACWI
10.1%

Consumer Cyclical

XWD.TO
9.2%
ACWI
8.4%

Communication Services

XWD.TO
9.0%
ACWI
7.9%

Healthcare

XWD.TO
8.5%
ACWI
8.2%

Consumer Defensive

XWD.TO
4.9%
ACWI
4.7%

Energy

XWD.TO
3.7%
ACWI
3.6%

Basic Materials

XWD.TO
3.2%
ACWI
3.3%

Utilities

XWD.TO
2.5%
ACWI
2.6%

Real Estate

XWD.TO
1.7%
ACWI
1.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

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. VEQT.TOXWD.TO vs. SPY
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: 8080
Overall Rank
XWD.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
XWD.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XWD.TO Omega Ratio Rank: 7979
Omega Ratio Rank
XWD.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
XWD.TO Martin Ratio Rank: 8181
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 6363
Overall Rank
ACWI Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6161
Sortino Ratio Rank
ACWI Omega Ratio Rank: 6363
Omega Ratio Rank
ACWI Calmar Ratio Rank: 5858
Calmar Ratio Rank
ACWI Martin Ratio Rank: 6868
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.

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.

XWD.TOACWIDifference
Sharpe ratioReturn per unit of total volatility
2.16
2.06

+0.10

Sortino ratioReturn per unit of downside risk
3.02
2.86

+0.16

Omega ratioGain probability vs. loss probability

1.40

1.36

+0.04

Calmar ratioReturn relative to maximum drawdown

3.40

3.40

0.00

Martin ratioReturn relative to average drawdown

13.61

13.42

+0.18

XWD.TO vs. ACWI - Sharpe Ratio Comparison

The current XWD.TO Sharpe Ratio is 2.16, which is comparable to the ACWI Sharpe Ratio of 2.06. 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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Drawdowns

XWD.TO vs. ACWI - Drawdown Comparison

The maximum XWD.TO drawdown since its inception was -27.48%, smaller than the maximum ACWI drawdown of -42.88%. 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%

-42.88%

+15.40%

Max Drawdown (1Y)

Largest decline over 1 year

-7.71%

-8.48%

+0.77%

Max Drawdown (3Y)

Largest decline over 3 years

-16.77%

-16.63%

-0.14%

Max Drawdown (5Y)

Largest decline over 5 years

-21.56%

-21.72%

+0.16%

Max Drawdown (10Y)

Largest decline over 10 years

-27.48%

-27.80%

+0.32%

Current Drawdown

Current decline from peak

-0.02%

-0.15%

+0.13%

Average Drawdown

Average peak-to-trough decline

-3.51%

-7.02%

+3.51%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

2.14%

-0.22%

Volatility

XWD.TO vs. ACWI - Volatility Comparison

The current volatility for iShares MSCI World Index ETF (XWD.TO) is 4.49%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 5.87%. This indicates that XWD.TO 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.

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Volatility by Period

XWD.TOACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.49%

5.87%

-1.38%

Volatility (6M)

Calculated over the trailing 6-month period

9.80%

11.85%

-2.05%

Volatility (1Y)

Calculated over the trailing 1-year period

12.12%

14.01%

-1.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.84%

17.23%

-3.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.34%

18.18%

-2.84%

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 1.20%, less than ACWI's 1.43% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.43%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		1.20%1.33%1.19%1.39%1.35%1.21%1.06%1.77%1.94%1.64%1.83%1.84%

Frequently Asked Questions

XWD.TO and ACWI have a correlation of 0.80, 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 MSCI World Net TR Index in 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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