Comparison window: 23 Sept 2025 → 13 Aug 2026 (max: from the most recent launch) · currency: 🇪🇺 EUR · inflation: 🇮🇹 Italy · distributions: reinvested where declared⚠ Common window shorter than 12 months: comparable data are scarce and carry no statistical value.
Report produced on 5 September 2026 · data as of the dates shown per section Sources: official issuer documents (KID, factsheet, declared NAV series and holdings), ESMA register, ECB rates, Eurostat Public methodology: rebalix.com/en/methodology
Informational document generated by rebalix.com — facts side by side, no recommendations. It does not constitute investment advice or investment research under Directive 2014/65/EU (MiFID II). Past performance is not indicative of future results.
RebalixLVLD vs SMSWLD · report of 5 September 2026
The funds at a glance
From official issuer documents and the ESMA register
LVLDIE0005KF09R2Invesco Global Active Defensive ESG Equity UCITS ETF DistEquity · Global
Declared index
MSCI World Total Return (Net) Index
TER
0.25%
Transaction (KID)
0.00%
Fund size
339 mln EUR
Launch
23 Sept 2025
Currency
USD
Replication
Active
Hedging
No
Holdings
381
Distributions 12m
1.1222 USD
Effective 🇮🇹 rate
26.00%
SMSWLDIE00B60SX394Invesco MSCI World UCITS ETF AccEquity · Global
Declared index
MSCI World Total Return (Net) Index
TER
0.05%
Transaction (KID)
0.03%
Fund size
8.5 mld EUR
Launch
2 Apr 2009
Currency
USD
Replication
Synthetic (swap)
Hedging
No
Holdings
399
Distributions 12m
acc.
Effective 🇮🇹 rate
26.00%
Tracking difference — year by year
Fund minus index, from issuer-declared series (complete calendar years). Each measures adherence to its OWN index.
LVLDn/d
not honestly computable
—
SMSWLD3y avg: +0.11%/anno
2025
+0.07%
2024
+0.09%
2023
+0.17%
2022
+0.12%
2021
+0.12%
2020
+0.19%
Rebalix · LVLD vs SMSWLDsection 1 of 4
RebalixLVLD vs SMSWLD · report of 5 September 2026
LVLD — Invesco Global Active Defensive ESG Equity UCITS ETF Dist · IE0005KF09R2 · Equity · Global
SMSWLD — Invesco MSCI World UCITS ETF Acc · IE00B60SX394 · Equity · Global
Performance over the period, in euro
From 23 Sept 2025 to 13 Aug 2026 · base 100 · ECB rates, dividends reinvested where declared
In euro (nominal)
In today’s purchasing power (net of Italy inflation)
Same scale in both panels: the gap between endpoints is Italian inflation over the period (Eurostat). Volatility stays nominal, as everywhere on the site.
How far they fell — drawdown from peak (nominal)
In euro · distance from the previous peak, day by day, on NAV: for distributing classes it includes ex-dividend drops (slightly deeper than total return)
Filled area: LVLD; thin lines: the other funds.
The worst episode, fund by fund
Fund
Max drawdown
Trough
Recovery time
Underwater
LVLD
−6.2%
27 Mar 2026
42 days
67 days · back to break-even on 08 May 2026
SMSWLD
−6.5%
30 Mar 2026
16 days
49 days · back to break-even on 15 Apr 2026
"Recovery time" = the climb only: trough to break-even (0%). "Underwater" = decline + recovery: peak to break-even.
Drawdown net of Italy inflation
Same curve in purchasing-power terms: as on the site, drawdown follows the real view (volatility stays nominal, per methodology)
In real terms declines are deeper and recoveries slower. Monthly price index (Eurostat), held at the last published value.
Rebalix · LVLD vs SMSWLDsection 2 of 4
RebalixLVLD vs SMSWLD · report of 5 September 2026
LVLD — Invesco Global Active Defensive ESG Equity UCITS ETF Dist · IE0005KF09R2 · Equity · Global
SMSWLD — Invesco MSCI World UCITS ETF Acc · IE00B60SX394 · Equity · Global
Geographic composition
% of portfolio, from full declared holdings
Sector composition
GICS sectors, same sources and dates
Portfolio overlap
98 common holdings · ticker match on full official portfolios
How the shared part is computed: for each security held by both funds, only the SMALLER of the two weights counts — a stock at 5% in one fund and 1% in the other overlaps by 1%, not 5%. Summed over all 98 common holdings this gives 24.8%: buying both funds, roughly this share of your money buys the same stocks twice. Matching uses the ISIN of each security, as published by both issuers in their baskets.
Rebalix · LVLD vs SMSWLDsection 3 of 4
RebalixLVLD vs SMSWLD · report of 5 September 2026
Full comparison table
"—" = not published by the source, never estimated
LVLD — Invesco Global Active Defensive ESG Equity UCITS ETF Dist · IE0005KF09R2 · Equity · Global
SMSWLD — Invesco MSCI World UCITS ETF Acc · IE00B60SX394 · Equity · Global
Metric
LVLD
SMSWLD
Note
Identity
Category
Equity · Global
Equity · Global
Rebalix engine classification
Replication
Active
Synthetic (swap)
as declared by the issuer
Currency hedging
No
No
source: class name, factsheet
Income policy
distributing
accumulating
—
Costs
TER
0.25%
0.05%
from the KID
Transaction costs (KID)
0.00%
0.03%
internal
All-in cost
0.25%
0.08%
TER + transaction
Tracking difference (3a)
—
+0.11%
vs its OWN index
Performance in euro (ECB rates)
1 year
+14.9%
+23.5%
—
3 years
—
+68.8%
—
5 years
—
+77.9%
—
10 years
—
+233.4%
— = series younger than the window
Risk · last 3 years
Volatility (ann.)
—
+12.65%
—
Max drawdown
—
−16.56%
—
Sharpe
—
1.27
risk-free = ECB MRO avg
Sortino
—
1.84
like Sharpe, downside only
Distributions (fund currency)
Frequency
semi-annual
accumulating class
—
Distributions, last 12 months
1.1222 USD *
accumulating class
* < 12 months of history
Distribution yield
0.99%
accumulating class
12 months / NAV
Last ex-date
11 Jun 2026 · 0.8827 USD
accumulating class
—
Italian taxation
Effective capital-gains rate
26.00%
26.00%
white list, current half-year
Documents & exchanges
Listing venues
8
9
ESMA register
Borsa Italiana ticker
—
SMSWLD
—
Indicative cumulative cost: on 10,000 euro over 5 years (stated assumption: 5%/yr growth, cost = TER + transaction) ~159 euro LVLD · ~51 euro SMSWLD. Broker costs not included.
Disclaimer
This document is for information only and does not constitute investment advice under Directive 2014/65/EU (MiFID II), investment research, a personal recommendation, or an offer or solicitation to buy or sell financial instruments.
Past performance is not indicative of, nor a guarantee of, future results. The value of an investment can go down as well as up and investors may not get back the capital invested. Euro returns are affected by currency fluctuations.
Before any investment decision, read the KID and the Prospectus, available from the issuers. Tax treatment depends on individual circumstances and may change.
Data come from official issuer documents and public registers, following the public methodology at rebalix.com/en/methodology. "—" fields were not published by the source and have not been estimated. Rebalix receives no compensation from the issuers mentioned.