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iShares Core MSCI World UCITS ETF GBP HedgedIndex, costs, backtest, listings and taxation

ISIN: IE00BD45YS76Ticker: 2B7E (Xetra) · IWDG (London SE) · IWDG (SIX)Issuer: iShares
Issuer-declared data
TER
0.30%
Transaction costs
0.00% (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
1.2 bn EUR
NAV
12.63 GBP (31 August 2026)
Domicile
Ireland
Inception date
22 May 2017
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 Core MSCI World UCITS ETF tracks the issuer-declared index: MSCI World Index (Net). Mind the share class: this is the version hedged to GBP — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.30%, plus 0.00% 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 distributed to investors. The fund has assets of about 1.2 billion euro, was launched on 22 May 2017 and is domiciled in Ireland. In our registry 6 other ETFs declare 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 World Index, the Fund’s benchmark index (Index). The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in the equity securities (e.g. shares) that make up the Index. The Index measures the performance of large and mid capitalisation companies in developed countries worldwide. Companies are included in the Index based on a free float market capitalisation weighted basis. Free float means that only shares available to international investors rather than all of a company’s issued shares are used in calculating the Index. Free float market capitalisation is the share price of a company multiplied by the number of shares available to international investors. 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. 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 III 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 distributing shares (i.e. income will be paid on the shares quarterly). The Fund’s base currency is US Dollar. Shares for this Share Class are denominated in Sterling. The performance of your shares may be affected by this currency difference. Your shares will be hedged with the aim of reducing the effect of exchange rate fluctuations between the denominated currency of the shares and the Fund’s underlying portfolio currencies or the Fund’s base currency. FDIs, including FX forward contracts, will be used for currency hedging purposes. The hedging strategy may not completely eliminate currency risk and, therefore, may affect the performance of your shares. Please see the prospectus for further details. 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

  • TER 0.30%: above the median of equity ETFs we track (0.22%).
  • Assets larger than 77% 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) · GBP · from May 2017 to Aug 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+191.3%
Annualised
+12.2%
Volatility (ann.)
15.4%
Max drawdown
-33.65%
-14%+40%+95%+149%+204%May 2017Sept 2019Dec 2021Apr 2024Aug 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+191%May 2017Aug 2026
Note — currency risk: the fund is denominated (or hedged) in GBP and the chart is in GBP. For a euro investor, returns also depend on the EUR/GBP exchange rate, up or down.
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
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%20172019202120232025−33.65% · 23 Mar 2020
Max drawdown
-33.65%
peak → trough
Trough
23 Mar 2020
from the 19 Feb 2020 peak
Recovery time
163 days
recovery only: trough to break-even · ≈ 5 months
Underwater
196 days
decline + recovery: peak to break-even · ≈ 6 months · → recovered on 02 Sept 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
19 Feb 202023 Mar 2020-33.65%02 Sept 2020196
04 Jan 202212 Oct 2022-23.10%19 Dec 2023714
21 Sept 201824 Dec 2018-17.39%23 Apr 2019214
18 Feb 202508 Apr 2025-17.03%26 Jun 2025128
26 Jan 201823 Mar 2018-9.05%28 Aug 2018214

Calendar-year returns

2017
10.6%
2018
-8.4%
2019
25.8%
2020
11.5%
2021
23.9%
2022
-17.3%
2023
22.6%
2024
21.1%
2025
18.8%
2026
13.3%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.71.0-5.78.74.8-0.10.32.413.3
20253.5-0.9-4.9-0.56.03.72.12.03.22.60.30.618.8
20241.84.63.4-3.24.12.31.21.71.4-0.94.9-1.921.1
20236.4-1.62.51.6-0.25.62.8-1.7-3.8-2.68.14.222.6
2022-4.9-2.73.1-7.0-0.3-8.07.9-3.7-8.56.75.4-5.1-17.3
2021-0.82.74.24.01.02.41.72.7-3.75.4-1.53.923.9
2020-0.3-8.4-13.610.44.92.33.36.2-3.0-3.111.83.411.5
20197.13.31.63.7-5.95.81.1-2.12.21.73.12.225.8
20183.7-3.7-2.41.91.20.23.11.30.7-6.81.0-8.0-8.4
2017-0.01.30.12.22.51.51.110.6
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.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
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.

Rejoined series: the issuer’s historical data contains a unit redenomination (18 May 2017), 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 4 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.34% /anno
Declared TER
0.30%
YearFundIndexDifference
2025+18.76%+21.09%-2.33%
2024+21.14%+18.67%+2.47%
2023+22.64%+23.79%-1.15%
2022-17.27%-18.14%+0.87%
2021+23.91%+21.82%+2.09%
2020+11.54%+15.90%-4.36%
2019+25.78%+27.67%-1.89%
2018-8.37%-8.71%+0.34%
2017+0.00%+0.00%+0.00%
2016+0.00%+0.00%+0.00%
Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 31 December 2025), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)11.96%13.36%15.36%17.16%
Max drawdown-7.93%-19.72%-28.16%-40.66%
Sharpe1.491.050.510.58
Sortino2.171.460.710.78
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
1,253
1295 total lines: 42 cash & derivatives
Top-10 weight
26.6%

Top 10 holdings

NVIDIA · NVDA
5.53%
APPLE · AAPL
5.07%
MICROSOFT · MSFT
3.90%
AMAZON.COM INC · AMZN
2.74%
ALPHABET CLASS A · GOOGL
2.17%
BROADCOM INC · AVGO
1.82%
ALPHABET CLASS C · GOOG
1.71%
META PLATFORMS CLASS A · META
1.37%
MICRON TECHNOLOGY · MU
1.18%
TESLA INC · TSLA
1.15%

Sectors

Information Technology
29.9%
Financials
16.5%
Industrials
11.1%
Health Care
9.3%
Consumer Discretionary
8.8%
Communication
7.9%
Consumer Staples
4.9%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.6%Austria: 0.1%AzerbaijanBurundiBelgium: 0.3%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 3.5%Switzerland: 2.2%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 2.2%DjiboutiDenmark: 0.4%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 1%EstoniaEthiopiaFinland: 0.3%FijiFalkland IslandsFrance: 2.4%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.2%IranIraqIcelandIsrael: 0.2%Italy: 0.8%JamaicaJordanJapan: 5.7%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1.4%Norway: 0.2%NepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugal: 0.1%ParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 0.9%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 72.2%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States72.2%
Japan5.7%
Canada3.5%
United Kingdom3.5%
France2.4%
Germany2.2%
Switzerland2.2%
⬇ Download the full portfolio — Excel, 1,295 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 →

Dividends

Latest dividend
0.04 GBP
ex 16 Jul 2026 · paid 29 Jul 2026
Dividends, last 12 months
0.13 GBP
Dividend yield
1.03%
12-month sum over the NAV as of 2 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year0.13 GBP1.24 %
20250.12 GBP1.25 %
20240.12 GBP1.50 %
20230.12 GBP1.80 %
20220.12 GBP1.47 %
20210.11 GBP1.65 %

Dividend contribution to total return

-20%-10%0%10%20%30%+21.07 %1 year+18.56 %2025+21.07 %2024+22.41 %2023−17.14 %2022+23.95 %2021
dividendsprice changeprice decline

Calendar per share (GBP)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20260.020.040.04
20250.020.030.040.03
20240.020.030.040.03
20230.020.030.040.03
20220.020.030.040.03
20210.020.030.030.03
20200.020.020.030.02
20190.020.030.040.03
20180.010.040.040.02
20170.010.02

Latest dividends

Per shareEx-dividend dateRecord datePayment
0.04 GBP16 Jul 202617 Jul 202629 Jul 2026
0.04 GBP16 Apr 202617 Apr 202629 Apr 2026
0.02 GBP15 Jan 202616 Jan 202628 Jan 2026
0.03 GBP16 Oct 202517 Oct 202529 Oct 2025
0.04 GBP17 Jul 202518 Jul 202530 Jul 2025
0.03 GBP17 Apr 202522 Apr 202530 Apr 2025
0.02 GBP16 Jan 202517 Jan 202529 Jan 2025
0.03 GBP17 Oct 202418 Oct 202430 Oct 2024
Per-share dividends as declared by the issuer, in GBP, since the first payment (13 Jul 2017). Past dividends are not indicative of future ones.

Share classes of the same fund

This page covers ISIN IE00BD45YS76 (share class Hedged). The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
USD (Dist)IE000OHHIBC6IWDDDistributingUSD
USD (Acc)IE00B4L5Y983SWDAAccumulatingUSD
GBP Hedged (Dist) · this pageIE00BD45YS76IWDGDistributingGBP
EUR Hedged (Dist)IE00BKBF6H24IWLEDistributingEUR
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 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
IWDS · iShares · 4 classes
0.12%Acc.1.9 mld EUR
WOEE · iShares · 3 classesactive
0.30%Acc.1.8 mld EUR
WINA · iShares · 2 classesactive
0.35%Acc. · Dist.17 mln EUR
IWRD · iShares
0.50%Dist.8.2 mld EUR
THRW · iSharesactive
0.60%Acc.10 mln EUR
FACT · iSharesactivenot on Borsa Italiana
0.30%Acc.222 mln EUR
7 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:

IE00B4L5Y983SWDA(class: USD (Acc))
  • BG Saxozero within the savings plan (buys)
  • Directazero within the savings plan (buys)
  • Directazero on single buys from 2,500 €, agreement until 31 December 2026
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
  • Moneyfarmzero within the savings plan (buys), agreement until 31 March 2027
  • Moneyfarmzero on single buys from 1,000 €, agreement until 31 March 2027
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BKBF6H24IWLE(class: EUR Hedged (Dist))
  • 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
Börse Düsseldorf2B7E7 Sept 2017
Börse Hamburg2B7E13 Jan 2021
Börse Hannover2B7E9 Mar 2026
Börse München / gettex2B7E9 Jun 2017
+ 5 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 Core MSCI World UCITS ETF track?
The issuer iShares declares the benchmark: MSCI World Index (Net).
How much does IWDG cost?
The issuer-declared TER is 0.30% per year; the transaction costs estimated in the KID are 0.00%.
How is IWDG 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 IWDG?
The fund size declared by iShares is about 1.2 billion euro.
When was IWDG launched?
The fund was launched on 22 May 2017: it has 9 years of history.
How does IWDG replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does IWDG pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does IWDG trade?
Per the official ESMA register it trades on 4 main exchanges, including Börse Düsseldorf (2B7E), Börse Hamburg (2B7E), Börse Hannover (2B7E), Börse München / gettex (2B7E).
What was IWDG's worst fall?
Over the available history (since 2017), the maximum drawdown was -33.65%, reached in March 2020. Past performance is not indicative of future results.
How many securities does IWDG hold?
The declared portfolio holds 1,253 securities (plus 42 cash & derivative lines); the top 10 positions weigh 26.6%.
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.