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iShares MSCI ACWI UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B6R52259Ticker: ISAC (Borsa Italiana) · IUSQ (Xetra) · ISAC (London SE) · SSAC (Euronext AMS) · SSAC (SIX)Issuer: iShares
Issuer-declared data
TER
0.20%
Transaction costs
0.01% (issuer estimate, from the KID)
Management
Passive (index-tracking)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
31.1 bn EUR
NAV
124.2 USD (31 August 2026)
Domicile
Ireland
Inception date
21 October 2011
Data as declared by iShares in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

iShares MSCI ACWI UCITS ETF tracks the issuer-declared index: MSCI All Country World Index (Net). The declared annual cost (TER) is 0.20%, plus 0.01% in transaction costs estimated by the issuer in the KID. Replication is optimised physical replication (the KID declares optimisation techniques to achieve a return similar to the index); income is accumulated and reinvested in the fund. The fund has assets of about 31.1 billion euro, was launched on 21 October 2011 and is domiciled in Ireland. In our registry it is the largest by assets among the 3 ETFs declaring the same index.

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

The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the MSCI All Countries World Index Net USD, the Fund’s benchmark index (Index). The Share Class, via the Fund is passively managed and invests in equity securities (e.g. shares) that, so far as possible and practicable, make up the Index. The Index measures the performance of large and mid capitalisation companies across developed and emerging markets. Companies are included in the Index on a free float-adjusted market capitalisation weighted basis. Free float-adjusted means that only shares available to international investors rather than all of a company’s issued shares are used in calculating the Index. Market capitalisation is the share price of the company multiplied by the number of shares issued. The Fund uses optimising techniques to achieve a similar return to the Index. These techniques may include the strategic selection of certain securities that make up the Index or other securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. In order to gain exposure to certain securities in emerging markets that make up the Index, the Fund may invest in American Depository Receipts (ADRs) and Global Depositary Receipts (GDRs). ADRs and GDRs are investments issued by financial institutions which give exposure to underlying equity securities. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund. The price of equity securities fluctuates daily and may be influenced by factors affecting the performance of the individual companies issuing the equities, as well as by daily stock market movements, and broader economic and political developments which in turn may affect the value of your investment. The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”).

Keep reading the KID section ▾

The depositary of the Fund is State Street Custodial Services (Ireland) Limited. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares V plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be accumulating shares (i.e. income will be included in their value). Your shares will be denominated in US Dollar, the Fund's base currency. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • Assets larger than 99% of equity ETFs we track.
  • Average tracking difference over the last 3 years: +0.03% p.a., against a declared TER of 0.20%.
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 Oct 2011 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+387.9%
Annualised
+11.3%
Volatility (ann.)
14.0%
Max drawdown
-33.82%
-10%+95%+200%+305%+410%Oct 2011Jun 2015Mar 2019Dec 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%)+388%Oct 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%201120142017202020232026−33.82% · 23 Mar 2020
Max drawdown
-33.82%
peak → trough
Trough
23 Mar 2020
from the 12 Feb 2020 peak
Recovery time
154 days
recovery only: trough to break-even · ≈ 5 months
Underwater
194 days
decline + recovery: peak to break-even · ≈ 6 months · → recovered on 24 Aug 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
12 Feb 202023 Mar 2020-33.82%24 Aug 2020194
04 Jan 202212 Oct 2022-26.22%24 Jan 2024750
21 May 201511 Feb 2016-19.20%12 Jan 2017602
26 Jan 201824 Dec 2018-19.17%28 Oct 2019640
18 Feb 202508 Apr 2025-16.05%19 May 202590

Calendar-year returns

2016
7.8%
2017
24.0%
2018
-9.5%
2019
26.4%
2020
15.6%
2021
18.7%
2022
-18.2%
2023
22.3%
2024
17.4%
2025
22.4%
2026
13.8%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20263.01.3-7.210.15.2-0.80.12.6-0.513.8
20253.3-0.6-3.90.95.84.51.32.53.62.20.01.122.4
20240.64.23.1-3.24.12.21.72.52.3-2.33.7-2.417.4
20237.2-2.93.11.5-1.15.83.6-2.8-4.1-3.09.34.822.3
2022-4.8-2.62.3-8.00.1-8.47.0-3.7-9.56.17.7-3.9-18.2
2021-0.42.32.74.41.61.30.72.5-4.15.1-2.44.018.7
2020-1.1-8.1-13.710.74.33.15.26.1-3.3-2.512.44.615.6
20197.82.71.23.4-5.96.50.3-2.42.12.82.43.526.4
20185.7-4.2-2.31.00.1-0.53.00.70.4-7.51.5-7.1-9.5
20172.72.81.21.52.30.52.80.32.02.12.01.624.0
2016-5.9-0.77.41.50.0-0.64.30.30.7-1.70.72.07.8
2015-1.75.5-1.62.7-0.2-2.30.8-6.9-3.77.9-0.8-1.9-3.0
2014-4.14.80.40.92.21.9-1.22.2-3.20.71.8-2.13.9
20134.60.01.82.6-0.3-2.94.7-2.25.14.01.61.722.4
20125.84.80.8-1.1-9.14.91.52.23.1-0.61.32.216.0
2011-2.7-0.4-0.5
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: iShares. 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.

Tracking difference — fund vs index

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 4 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+0.03% /anno
Declared TER
0.20%
YearFundIndexDifference
2025+22.41%+22.34%+0.07%
2024+17.36%+17.49%-0.13%
2023+22.35%+22.20%+0.15%
2022-18.19%-18.36%+0.18%
2021+18.71%+18.54%+0.17%
2020+15.63%+16.26%-0.63%
2019+26.38%+26.59%-0.22%
2018-9.52%-9.41%-0.11%
2017+23.94%+23.97%-0.03%
2016+7.82%+7.86%-0.05%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)10.51%12.51%14.07%15.04%14.56%
Max drawdown-6.90%-19.93%-19.93%-33.59%-33.59%
Sharpe1.821.080.650.740.81
Sortino2.681.510.911.021.14
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
1,658
1739 total lines: 81 cash & derivatives
Top-10 weight
24.5%

Top 10 holdings

NVIDIA · NVDA
4.88%
APPLE · AAPL
4.46%
MICROSOFT · MSFT
3.42%
AMAZON.COM INC · AMZN
2.40%
ALPHABET CLASS A · GOOGL
1.90%
TAIWAN SEMICONDUCTOR MANUFACTURING · 2330
1.78%
BROADCOM INC · AVGO
1.59%
ALPHABET CLASS C · GOOG
1.50%
ISHARES MSCI INDIA UCITS ETF · NDIA
1.34%
META PLATFORMS CLASS A · META
1.20%

Sectors

Information Technology
31.1%
Financials
18.4%
Industrials
10.3%
Consumer Discretionary
8.5%
Health Care
8.2%
Communication
7.5%
Consumer Staples
4.5%

Countries

AfghanistanAngolaAlbaniaUnited Arab Emirates: 0.1%ArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.4%Austria: 0.1%AzerbaijanBurundiBelgium: 0.3%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 2.9%Switzerland: 2%ChileChina: 1.9%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 2.4%DjiboutiDenmark: 0.4%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 0.9%EstoniaEthiopiaFinland: 0.2%FijiFalkland IslandsFrance: 2.1%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreece: 0.1%GreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesia: 0.1%IndiaIreland: 2.3%IranIraqIcelandIsrael: 0.2%Italy: 0.7%JamaicaJordanJapan: 5.2%KazakhstanKenyaKyrgyzstanCambodiaSouth Korea: 2.5%KosovoKuwait: 0.1%LaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexico: 0.2%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysia: 0.1%NamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1.2%Norway: 0.1%NepalNew ZealandOmanPakistanPanamaPeru: 0.1%PhilippinesPapua New GuineaPoland: 0.1%Puerto RicoNorth KoreaPortugal: 0.1%ParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 0.8%SwazilandSyriaChadTogoThailand: 0.1%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwan: 3.2%United Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 63.4%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 0.4%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States63.4%
Japan5.2%
Taiwan3.2%
United Kingdom3.1%
Canada2.9%
South Korea2.5%
Germany2.4%
Download the full portfolio — Excel, 1,739 rows
Full portfolio declared by iShares, 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 →

Share classes of the same fund

This page covers ISIN IE00B6R52259. The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
SGD Hedged (Acc)IE00019GPKX6ISGDXAccumulatingSGD
USD (Dist)IE0002FCUS29ISADDistributingUSD
USD (Acc) · this pageIE00B6R52259SSACAccumulatingUSD
Share classes declared by the issuer in official product lists (same fund = same issuer and same declared name). A dash “—” = not declared — not a zero.

Index tracked

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

ETFs declaring the same index

FundTERIncomeFund size
ACSW · iShares
0.12%Acc.71 mln EUR
IART · iSharesactive
0.73%Acc.263 mln EUR
3 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

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:

IE00B6R52259ISAC(class: USD (Acc))
  • BG Saxozero within the savings plan (buys)
  • 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)ISAC26 Jul 2024
Börse DüsseldorfIUSQ4 Jul 2016
Börse FrankfurtIUSQ4 Jul 2016
Börse HamburgIUSQ4 Jul 2016
Börse HannoverIUSQ21 Dec 2022
Börse München / gettexIUSQ9 Mar 2015
Börse StuttgartIUSQ4 Jul 2016
Euronext AmsterdamSSAC29 Nov 2021
Tradegate ExchangeIUSQ20 Oct 2016
Xetra (Deutsche Börse)IUSQ4 Jul 2016
+ 18 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 iShares MSCI ACWI UCITS ETF track?
The issuer iShares declares the benchmark: MSCI All Country World Index (Net).
How much does SSAC cost?
The issuer-declared TER is 0.20% per year; the transaction costs estimated in the KID are 0.01%.
How is SSAC 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 SSAC?
The fund size declared by iShares is about 31.1 billion euro.
When was SSAC launched?
The fund was launched on 21 October 2011: it has 14 years of history.
How does SSAC replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does SSAC pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does SSAC trade?
Per the official ESMA register it trades on 10 main exchanges, including Borsa Italiana (ETFplus) (ISAC), Börse Düsseldorf (IUSQ), Börse Frankfurt (IUSQ), Börse Hamburg (IUSQ), Börse Hannover (IUSQ), Börse München / gettex (IUSQ).
What was SSAC's worst fall?
Over the available history (since 2011), the maximum drawdown was -33.82%, reached in March 2020. Past performance is not indicative of future results.
What is SSAC's tracking difference?
Over the last 3 complete calendar years the fund returned on average +0.03% per year versus its index (from issuer-declared series).
How many securities does SSAC hold?
The declared portfolio holds 1,658 securities (plus 81 cash & derivative lines); the top 10 positions weigh 24.5%.
Transparency note
The data in this sheet is declared by iShares 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.