Data as of Oct 28, 2026.
ACWI vs VO: Differences, Returns & Fees
Over the year to Oct 28, 2026, ACWI returned +13.4% to VO's +12.8%; 11% of their weight is in the same names.
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Net assets: $33.0bn on Oct 28, 2026 for iShares MSCI ACWI ETF, and $103.4bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap ETF.
Pair scorecard
VO costs 0.29 points a year less; their one-year returns differ by 0.6 points; VO is 3.2 times larger.
| Measure | ACWI | VO |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.4% | +12.8% |
| Drawdown | ||
| Below its high | 3.1%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | MSCI ACWI | Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index) |
| Cost and size | ||
| Expense ratio | 0.32% | 0.03% |
| Net assets, as of Sep 30, 2026 | $32.8bn | $103.4bn |
| Holdings | ||
| Holdings in common | 11% | |
| Top ten holdings, share of the fund | 24.9% | 9.7% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Apr 4, 2008 to Oct 23, 2026 · 968 weekly returnsVO returned more: +496.9% to +333.1%. ACWI swung slightly less: 18.5% to 20.5%. ACWI and VO fell about the same at their worst: −55.3% and −55.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACWI | VO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +333.1% | +496.9% | VO | Price change plus distributions, reinvested. |
| Annualized | +8.2% | +10.1% | VO | Total return as a yearly rate. |
| Price return | +204.7% | +352.2% | VO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.5% | 20.5% | ACWI (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.2% | 14.5% | ACWI (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −55.3% | −55.4% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.44 | 0.50 | VO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.62 | 0.71 | VO | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.15 | 0.18 | VO | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 968 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ACWI and VO hold 11% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
11% in common
Only in one fund ↓
Side by side
ACWI and VO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ACWI and VO do different jobs. What does each one do in a portfolio?
- What each follows. ACWI follows MSCI ACWI and VO follows Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index).
- Holdings in common. 11% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- Number of holdings. ACWI holds 2,197 positions and VO holds 273.
Data as of Oct 28, 2026.
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ACWI
ACWI tracks the MSCI ACWI. Over the year to Oct 28, 2026 it returned +13.4% with distributions reinvested. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 61% of the fund by weight is stocks the S&P 500 also holds, across 2,197 positions, with the top ten at 24.9%.
VO
VO tracks an index of Mid-Cap. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 273 positions, with the top ten at 9.7%. It sat 3.1% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, ACWI or VO?
- In the year to Oct 28, 2026, with distributions reinvested, ACWI returned +13.4% and VO +12.8%.
- Which is cheaper, ACWI or VO?
- VO is cheaper, by 0.29 percentage points a year. That is about $29 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ACWI against VO, data as of Oct 28, 2026. https://etfiq.com/compare/any/acwi-vs-vo
ETFIQ. (Oct 28, 2026). ACWI against VO. Retrieved from https://etfiq.com/compare/any/acwi-vs-vo
[ACWI against VO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/acwi-vs-vo)
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