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iShares MSCI World Index ETF (XWD) and iShares Core MSCI All Country World ex Canada Index ETF (XAW) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XWD focuses its top 3 sector exposures on Technology, Finance, and Industrials, while XAW leans towards Technology, Finance, and Industrials. When evaluating costs, XWD features a management fee (MER) of 0.44%, compared to 0.2% for XAW. Performance-wise, XWD has returned 14.61% year-to-date with +$95 M in net flows, whereas XAW is at 16.29% with +$426 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
XWD
XAW
| AuM | $1,784.73 M | $4,618.61 M |
| Management Fees | 0.44% | 0.20% |
| Exp. ratio | 0.48% | 0.22% |
| Tracking Difference | - | -0.23% |
Historical performance and flows
As of September 4, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XWD | -1.28% | +2.22% | +14.61% | +20.19% | +75.17% |
XAW | -1.03% | +1.82% | +16.29% | +22.34% | +75.92% | |
| Flows | XWD | +$31 M | +$61 M | +$95 M | +$155 M | +$314 M |
XAW | +$97 M | +$257 M | +$426 M | +$708 M | +$1,016 M |
XWD vs XAW exposure
Countries
XWD
USA
69.85%
Other
30.15%
XAW
USA
62.99%
Other
37.01%
Sectors
XWD
Technology
35.11%
Finance
18.67%
Industrials
9.80%
Healthcare
8.91%
Consumer Non-Cyclicals
8.58%
Other
18.93%
XAW
Technology
34.50%
Finance
18.74%
Industrials
10.13%
Healthcare
8.51%
Consumer Non-Cyclicals
8.22%
Other
19.89%
As of September 4, 2026
Top 10 Holdings
XWD
Apple, Inc.
5.46%
NVIDIA Corp.
5.27%
Microsoft Corp.
3.74%
Amazon.com, Inc.
2.57%
Alphabet, Inc.
2.18%
Broadcom Inc.
2.05%
Alphabet, Inc.
1.76%
Meta Platforms, Inc.
1.32%
Micron Technology, Inc.
1.10%
JPMorgan Chase & Co.
1.05%
XAW
Apple, Inc.
4.46%
NVIDIA Corp.
4.30%
Microsoft Corp.
3.05%
Amazon.com, Inc.
2.10%
Alphabet, Inc.
1.78%
Broadcom Inc.
1.67%
Taiwan Semiconductor Manufacturing Co., Ltd.
1.62%
Alphabet, Inc.
1.44%
Meta Platforms, Inc.
1.08%
Micron Technology, Inc.
0.90%
Diversification
XWD
Total weight of top 10 holdings out of 1,238 total
26.51%
XAW
Total weight of top 10 holdings out of 8,085 total
22.39%
Characteristics
Compare
XWD
XAW
| Provider | iShares | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI World Daily Total Return Net Index - USD | MSCI ACWI ex Canada IMI Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.18% | 1.20% |
| Meets ESG criteria | No | No |
| Inception Date | June 18, 2009 | February 10, 2015 |
Frequently asked questions about XWD and XAW
Which ETF has performed better year to date: XWD or XAW?
As of September 4, 2026, XWD has returned 14.61% year to date, while XAW has returned 16.29%. XAW is ahead on YTD performance.
Which ETF is larger by assets under management: XWD or XAW?
As of September 4, 2026, XWD manages $1.78 B in assets, while XAW manages $4.62 B. XAW is the larger fund by AUM.
How are XWD and XAW managed?
XWD is passively managed by iShares. It tracks the MSCI World Daily Total Return Net Index - USD benchmark. XAW is passively managed by iShares. It tracks the MSCI ACWI ex Canada IMI Net Total Return Index - CAD benchmark.
What sectors do XWD and XAW emphasize?
XWD is most exposed to Technology, Finance, and Industrials. XAW is most exposed to Technology, Finance, and Industrials.
Which ETF is attracting more investor flows: XWD or XAW?
Year to date, XWD has seen +$94.50 M in net flows, compared with +$425.73 M for XAW. XAW has attracted more net investor money so far.
How do the fees of XWD and XAW compare?
XWD has an expense ratio of 0.48%, while XAW has an expense ratio of 0.22%.
What are the top holdings of XWD and XAW?
XWD's largest holdings include Apple, Inc., NVIDIA Corp., and Alphabet, Inc.. XAW's top holdings include Apple, Inc., NVIDIA Corp., and Alphabet, Inc..
Which ETF is more diversified: XWD or XAW?
XWD holds 1227 securities, while XAW holds 7986. On holdings count, XAW is the more diversified portfolio.
Recent articles about XWD and XAW
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