MSCI World or MSCI ACWI?
The two indices share 82.0 % of their weight across 1,142 companies, and their daily returns correlate at 0.99. Holding both means buying much of the same thing twice — little is gained in spread, the weights simply shift.
Side by side
| MSCI World | MSCI ACWI | |
|---|---|---|
| Holdings covered | 1,147 | 2,059 |
| Volatility | 15.8 % | 15.9 % |
| Max drawdown | -16.9 % | -16.5 % |
| Cheapest ETF we cover | SPPW · 0.12 % | SPYY · 0.12 % |
The largest shared positions
| Company | MSCI World | MSCI ACWI |
|---|---|---|
| NVIDIA Corporation | 5.49 % | 4.91 % |
| Apple Inc. | 4.98 % | 4.46 % |
| Microsoft Corporation | 3.83 % | 3.43 % |
| Amazon.com Inc. | 2.86 % | 2.56 % |
| Alphabet Inc. Class A | 2.26 % | 2.04 % |
| Broadcom Inc. | 2.05 % | 1.84 % |
| Alphabet Inc. Class C | 1.79 % | 1.58 % |
| META Platforms Inc. Class A | 1.41 % | 1.26 % |
| Micron Technology Inc. | 1.08 % | 0.97 % |
| Eli Lilly and Company | 1.04 % | 0.93 % |
Overlap and shared positions are computed from the holdings of one representative ETF each (XDWD and SPYY); of those we could attribute 93.4 % and 91.0 % of fund weight to individual companies, so real overlap is likely a little higher. The correlation covers 504 shared trading days.