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State Street® SPDR® MSCI All Country World Investable Market UCITS ETF (Acc)Index, costs, backtest, listings and taxation

ISIN: IE00B3YLTY66Ticker: IMIE (Borsa Italiana) · SPYI (Xetra) · IMID (London SE) · IMIE (Euronext Paris) · IMID (SIX)Issuer: SPDR
Issuer-declared data
TER
0.17%
Transaction costs
0.01% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics — inferred (issuer documents do not declare art. 8/9) what does it mean?
Fund assets
7.6 bn EUR
NAV
13.37 USD (30 August 2026)
Domicile
Ireland
Inception date
12 May 2011
Data as declared by SPDR in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

State Street® SPDR® MSCI All Country World Investable Market UCITS ETF (Acc) tracks the issuer-declared index: MSCI ACWI IMI (All Country World Investable Market Index) Index. The declared annual cost (TER) is 0.17%, plus 0.01% in transaction costs estimated by the issuer in the KID. Replication is optimised physical replication; income is accumulated and reinvested in the fund. The fund has assets of about 7.6 billion euro, was launched on 12 May 2011 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The Shares of the USD Class are issued in U.S. Dollar. Investment objective The objective of the Fund is to track the performance of stock markets in developed and emerging market countries. Index Source: The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with State Street Investment Management and any related funds, as well as additional disclaimers that apply to the MSCI indexes. The MSCI indexes are the exclusive property of MSCI and may not be reproduced or extracted and used for any other purpose without MSCI's consent. The MSCI indexes are provided without any warranties of any kind. Please see the Prospectus for the full index disclaimer. The Fund seeks to track the performance of the MSCI ACWI IMI (All Country World Investable Market Index) Index (the "Index") as closely as possible. The Fund is an index tracking fund (also known as a passively managed fund). Investment policies The Fund invests primarily in securities included in the Index. These securities include stocks and shares issued by companies in both developed and emerging market countries from around the world. As it may be difficult to purchase all securities in the Index efficiently, in seeking to track the performance of the Index the Fund will use an optimisation strategy to build a representative portfolio which should reflect the performance of the Index. Consequently, the Fund will typically hold only a subset of the securities included in the Index. In limited circumstances the Fund may purchase securities that are not included in the Index. The Fund may use financial derivative instruments (that is, financial contracts whose prices are dependent on one or more underlying assets) in order to manage the portfolio efficiently. Save in exceptional circumstances, the Fund will generally only issue and redeem shares to certain institutional investors. However, shares of the Fund may be purchased or sold through brokers on one or more stock exchanges. The Fund trades on these stock exchanges at market prices which may fluctuate throughout the day.

Keep reading the KID section ▾

Intended retail investorThis Fund is intended for investors who plan to stay invested for at least 5 years and are prepared to take on a medium-high level of risk of loss to their original capital in order to get a higher potential return. It is designed to form part of a portfolio of investments. Practical information Depositary The Fund depositary is State Street Custodial Services (Ireland) Limited.

From the KID’s “Objectives” section · 5 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.17%: below the median of equity ETFs we track (0.22%).
  • Assets larger than 95% of equity ETFs we track.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from May 2011 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+346.1%
Annualised
+10.3%
Volatility (ann.)
14.6%
Max drawdown
-34.70%
-22%+75%+172%+269%+366%May 2011Mar 2015Jan 2019Nov 2022Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+346%May 2011Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-10%-20%-30%-40%-50%201120142017202020232026−34.70% · 23 Mar 2020
Max drawdown
-34.70%
peak → trough
Trough
23 Mar 2020
from the 12 Feb 2020 peak
Recovery time
156 days
recovery only: trough to break-even · ≈ 5 months
Underwater
196 days
decline + recovery: peak to break-even · ≈ 6 months · → recovered on 26 Aug 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
12 Feb 202023 Mar 2020-34.70%26 Aug 2020196
08 Nov 202112 Oct 2022-26.01%29 Jan 2024812
07 Jul 201104 Oct 2011-21.18%14 Sept 2012435
26 Jan 201824 Dec 2018-19.72%01 Nov 2019644
21 May 201511 Feb 2016-19.06%08 Dec 2016567

Calendar-year returns

2016
9.4%
2017
23.2%
2018
-10.3%
2019
25.9%
2020
15.4%
2021
18.3%
2022
-17.5%
2023
21.1%
2024
16.1%
2025
22.2%
2026
15.1%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20263.32.2-7.310.15.2-0.70.02.7-0.615.1
20253.2-0.7-4.00.75.84.61.42.83.52.10.21.122.2
20240.34.13.2-3.33.91.91.92.32.3-2.43.8-2.616.1
20237.3-2.92.51.2-1.36.03.6-2.8-4.2-3.49.15.221.1
2022-4.6-2.72.3-7.80.2-8.66.7-3.4-9.66.47.9-3.9-17.5
2021-0.12.72.84.11.51.10.52.4-4.04.9-2.84.218.3
2020-1.4-8.2-14.411.04.23.25.16.3-3.2-2.412.84.815.4
20197.92.71.03.4-6.26.40.4-2.52.12.72.63.525.9
20185.4-4.2-2.11.10.2-0.52.90.90.3-7.81.2-7.4-10.3
20172.82.81.11.51.90.72.60.32.21.91.81.623.2
2016-5.9-0.67.42.10.0-0.44.20.60.8-1.91.12.19.4
2015-1.35.7-1.43.00.2-2.20.6-6.2-4.27.8-0.7-1.9-1.6
2014-4.24.80.20.92.32.1-1.32.4-3.30.91.7-1.84.4
20134.7-0.22.12.5-0.1-2.95.0-2.25.23.91.81.823.7
20126.04.80.7-1.2-8.94.81.42.23.2-0.51.52.416.7
2011-1.5-2.0-7.4-9.210.9-2.6-0.5-11.3
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: SPDR. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Rejoined series: the issuer’s historical data contains a unit redenomination (23 February 2026), not retroactively adjusted; we rejoined the earlier history to make it comparable. Returns and risk are computed on the rejoined series.

Tracking difference — issuer-declared

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 3 of the last 9 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.19% /anno
Declared TER
0.17%
YearFundIndexDifference
2025+22.20%+22.06%+0.14%
2024+16.13%+16.37%-0.24%
2023+21.10%+21.58%-0.48%
2022-17.52%-18.40%+0.88%
2021+18.25%+18.22%+0.03%
2020+15.35%+16.25%-0.90%
2019+25.92%+26.35%-0.43%
2018-10.31%-10.08%-0.23%
2017+23.23%+23.95%-0.72%
Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 31 July 2026), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)10.52%12.54%14.02%15.04%14.92%
Max drawdown-6.90%-20.18%-20.18%-34.48%-34.48%
Sharpe1.901.060.630.720.74
Sortino2.821.480.890.991.04
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
6,006
Top-10 weight
21.6%

Top 10 holdings

NVIDIA Corporation
4.33%
Apple Inc.
4.07%
Microsoft Corporation
3.01%
Amazon.com Inc.
2.09%
Alphabet Inc. Class A
1.69%
Taiwan Semiconductor Manufacturing Co. Ltd.
1.67%
Broadcom Inc.
1.42%
Alphabet Inc. Class C
1.33%
Meta Platforms Inc Class A
1.07%
Micron Technology Inc.
0.92%

Sectors

Information Technology
29.0%
Financials
16.2%
Industrials
10.8%
Health Care
8.4%
Consumer Discretionary
8.4%
Communication Services
7.0%
Consumer Staples
4.4%

Countries

AfghanistanAngolaAlbaniaUnited Arab Emirates: 0.1%ArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.4%AustriaAzerbaijanBurundiBelgium: 0.3%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazil: 0.5%BruneiBhutanBotswanaCentral African RepublicCanada: 3%Switzerland: 1.9%ChileChina: 1.9%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech Republic: 0.1%Germany: 1.9%DjiboutiDenmark: 0.4%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 0.7%EstoniaEthiopiaFinland: 0.2%FijiFalkland IslandsFrance: 2%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndia: 1.3%IrelandIranIraqIcelandIsrael: 0.3%Italy: 0.6%JamaicaJordanJapan: 5.5%KazakhstanKenyaKyrgyzstanCambodiaSouth Korea: 2.3%KosovoKuwait: 0.1%LaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexico: 0.2%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysia: 0.1%NamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1%Norway: 0.1%NepalNew Zealand: 0.1%OmanPakistanPanamaPeruPhilippinesPapua New GuineaPoland: 0.1%Puerto RicoNorth KoreaPortugal: 0.1%ParaguayQatar: 0.1%RomaniaRussiaRwandaWestern SaharaSaudi Arabia: 0.2%SudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 0.7%SwazilandSyriaChadTogoThailand: 0.1%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwan: 3.2%United Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 61.2%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 0.3%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States61.2%
Japan5.5%
Taiwan3.2%
United Kingdom3.2%
Canada3%
South Korea2.3%
France2%
Download the full portfolio — Excel, 6,006 rows
Full portfolio declared by SPDR, as of 31 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Index tracked

MSCI ACWI IMI (All Country World Investable Market Index) Index
This fund belongs to the World and global equity family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00B3YLTY66IMIE
  • BG Saxozero within the savings plan (buys)
  • Directazero within the savings plan (buys)
  • Directazero on single buys from 2,000 €, agreement until 31 May 2027
  • Moneyfarmzero on single buys from 1,000 €, agreement until 12 January 2028
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE000DD75KQ5SPSA
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)IMIE12 Apr 2012
Börse DüsseldorfSPYI17 Feb 2012
Börse FrankfurtSPYI23 May 2011
Börse HamburgSPYI15 Jan 2014
Börse HannoverSPYI21 Dec 2022
Börse München / gettexSPYI4 Jul 2014
Börse StuttgartSPYI20 May 2011
Euronext ParisIMIE13 Sept 2011
Tradegate ExchangeSPYI11 Jul 2011
Xetra (Deutsche Börse)SPYI18 May 2011
+ 19 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does State Street® SPDR® MSCI All Country World Investable Market UCITS ETF (Acc) track?
The issuer SPDR declares the benchmark: MSCI ACWI IMI (All Country World Investable Market Index) Index.
How much does IMIE cost?
The issuer-declared TER is 0.17% per year; the transaction costs estimated in the KID are 0.01%.
How is IMIE taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of IMIE?
The fund size declared by SPDR is about 7.6 billion euro.
When was IMIE launched?
The fund was launched on 12 May 2011: it has 15 years of history.
How does IMIE replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Optimised”).
Does IMIE pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
Where does IMIE trade?
Per the official ESMA register it trades on 10 main exchanges, including Borsa Italiana (ETFplus) (IMIE), Börse Düsseldorf (SPYI), Börse Frankfurt (SPYI), Börse Hamburg (SPYI), Börse Hannover (SPYI), Börse München / gettex (SPYI).
What was IMIE's worst fall?
Over the available history (since 2011), the maximum drawdown was -34.70%, reached in March 2020. Past performance is not indicative of future results.
How many securities does IMIE hold?
The declared portfolio holds 6,006 securities; the top 10 positions weigh 21.6%.
Transparency note
The data in this sheet is declared by SPDR in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.