ACWI Fund Description

The iShares MSCI ACWI ETF tracks a market-cap-weighted index of large- and midcap global stocks, covering 85% of the developed and emerging markets capitalization.

ACWI ETF.com Insight

ACWI offers a highly liquid portfolio of global large- and midcap stocks that matches the market well. The fund tracks a market-cap-selected and -weighted index that is a subset of ourACWI tilts larger than our benchmark benchmark, excluding small-caps and frontier market countries. As a result, ACWI tilts larger than our benchmark. Still, the fund is a good proxy for the global stock market. Despite holding less than half the names in its underlying index, the fund has tracked it reasonably well—typically rebating its entire 0.34% expense ratio back to investors. ACWI is a very liquid fund, making trading painless. (Insight updated 07/30/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 09/18/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

ACWI
0.65% 0.71% 6.69% 12.34% 15.22% 10.35% --

ACWI (NAV)
0.83% 0.94% 6.99% 13.63% 15.34% 10.44% --

MSCI All Country World Index
0.74% 0.84% 6.63% 13.20% 15.10% 10.49% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

ACWI Top 10 Countries View All

ACWI Top 10 Sectors

ACWI Top 10 Holdings View All

ACWI Summary Data

BlackRock

A company that produces and manages ETFs.

03/26/08

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.34%

The net total annual fee a fund holder pays to the issuer.

$6.6 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$63.5 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.02%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

ACWI Portfolio Data

$92.12 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

17.87

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.12

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

2.14%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/17/14

The date on which a security's price excludes an upcoming dividend.

1,267

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

ACWI Index Data

MSCI All Country World Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI All Country World Investable Markets + Frontier

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to ACWI

VT, ACIM, ACWV, ONEF

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

ACWI ETF.com Efficiency Insight

ACWI's 34 bp expense ratio is somewhat steep for a plain-vanilla fund, almost twice that charged by Vanguard's VT. On the bright side, ACWI earned back its entire fee over the typical rolling 12-month period through good management and securities lending. However, variability in the fund's tracking results cut into its Efficiency. Otherwise, the fund is stable, thanks to its huge asset base, and has remained tax efficient. (Insight updated 07/30/2014)


Total Return - 09/18/2014
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 09/18/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

ACWI
0.65% 0.71% 6.69% 12.34% 15.22% 10.35% --

ACWI (NAV)
0.83% 0.94% 6.99% 13.63% 15.34% 10.44% --

MSCI All Country World Index
0.74% 0.84% 6.63% 13.20% 15.10% 10.49% --

MSCI All Country World Investable Markets + Frontier
0.56% 0.54% 6.31% 12.99% 15.15% 10.76% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

ACWI Portfolio Management

0.34%

The net annual fee a fund holder pays to the issuer.

0.18%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

0.50%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.17%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

ACWI Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

ACWI Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

75% / 25%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

ACWI ETF.com Tradability Insight

ACWI is cheap and easy to trade. On a typical day, the fund trades around $40 million, with penny-wide spreads. ACWI also has great implied liquidity. With more than 6 creation units worth of shares traded daily, the market can easily absorb block trades. (Insight updated 07/30/2014)

Average Spread

Premium/Discount

Volume

ACWI ETF.com/ Block LiquidityAs of 09/19/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of ACWI. ACWI is rated a 5 out of 5.

ACWI Tradability

1,053,647

It is the daily number of shares traded, averaged over the past 45 trading days.

$63.5 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

744,496

Median number of shares traded over the past 45 trading days.

$45.01 M

Median dollar value of shares traded over the past 45 trading days.

0.02%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

0.10%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

0.57% / -0.76%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

63.38%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

100,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

7.44

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.07%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.02%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

595

The total number of net outstanding options contracts for an ETF.

$60.58

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

ACWI ETF.com Fit Insight

ACWI's exclusion of frontier markets and small-caps doesn't materially impact its reflectiveness of the global stock market. Unsurprisingly, the fund tilts somewhat larger than our benchmark. Minor deviations aside, the fund mirrors the market's sector exposures, and its performance closely aligns with our benchmark's. (Insight updated 07/30/2014)

ACWI Sector/Industry BreakdownView All

ACWI Segment Benchmark
21.76% 21.38%
12.80% 12.49%
11.88% 12.31%
12.46% 11.80%
9.95% 10.41%
9.47% 10.07%
5.88% 5.21%
3.17% 3.01%

ACWI Geographic ExposureView All

ACWI Segment Benchmark
49.78% 49.60%
7.51% 7.72%
7.45% 7.18%
4.08% 3.89%
3.02% 3.25%
2.93% 3.23%
2.90% 3.06%
2.80% 2.89%
1.77% 1.85%
17.8% 17.35%

ACWI Segment Benchmark
53.85% 53.49%
23.50% 24.39%
19.14% 18.81%
2.08% 2.15%
1.43% 1.17%
92.51% / 7.49% 92.67% / 7.33%

ACWI Performance Statistics

0.99

The degree to which the fund and its segment benchmark move up and down in unison.

1.00

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

1.00

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.99

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.04%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI All Country World Investable Markets + Frontier

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

ACWI Benchmark Comparison

ACWI
1267 Holdings
Segment Benchmark
8801 Constituents
Shared Holdings
1267 (Count)
 
72.16% (Weight)
ACWISegment Benchmark
$78.56 B$92.12 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

71%86%
21%13%
7%0%
1%0%
19.3417.87

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.062.12

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

2.02%2.09%

The weighted average of the current yield on the portfolio’s holdings.

88011267

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowLow

The level of return contribution attributable to the average portfolio constituent.