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IWLD

$61.91-0.31%Global / All World62/100
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iShares Core MSCI World All Cap ETF · BlackRock

Data as at 29 March 2026

TL;DR

Tracks developed market stocks including Australia, covering large, mid, and small-cap companies — approximately 6,000 stocks across 23 countries. Managed by BlackRock at 0.09% per year.

MER (Annual Fee)
0.09%
#2 lowest in Global / All World
1Y Return
+5.8%
3Y Return (p.a.)
+15.8%
Dividend Yield
1.27%
Trailing 12 months
AUM
$1,489.4M
Assets under management
Avg Daily Turnover
$1.9M
Avg shares × unit price
Unit Price
$61.91
As at 29 March 2026
Provider
BlackRock
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Strategy

Fund-of-funds structure holding underlying iShares ETFs. Covers the entire MSCI World Investable Market Index including small-caps and Australian companies. At 0.09%, it is cheaper than VGS (0.18%) and broader in scope.

Top Holdings

iShares Core S&P 500 ETF
55.9%
iShares Core MSCI EAFE ETF
33.7%
iShares Core S&P Small Cap ETF
6.9%
iShares S&P/TSX Capped Composite ETF
3.5%
Key Fact

IWLD covers approximately 6,000 stocks versus VGS's 1,400, because it includes small-cap companies that the standard MSCI World index excludes. The difference is material — small-caps historically outperform large-caps over long periods.

Suited for

Investors wanting the broadest possible developed market coverage, including small-caps and Australia, at a low cost. The fund-of-funds structure suits those who prefer BlackRock's infrastructure.

Risks

The fund-of-funds structure may create some tax inefficiency compared to direct-replication funds. Includes roughly 2.5% Australian stocks, which overlaps with VAS or A200 in most portfolios.

IWLD Comparisons

ETFCheck Score62/100
Fees (40%)87
Fund Size (25%)55
Liquidity (20%)43
Yield (15%)33
How scores are calculated →
Other Global / All World ETFs
VGS
0.18% MER
77
VGAD
0.21% MER
75
BGBL
0.08% MER
72
QUAL
0.40% MER
60
IOO
0.40% MER
47
QLTY
0.35% MER
45View all Global / All World ETFs →

Frequently Asked Questions - IWLD

How does IWLD's small-cap and mid-cap inclusion compare to VGS?+
IWLD tracks the MSCI World Investable Market Index (IMI), capturing over 4,000 large, mid, and small-cap stocks compared to VGS's approximately 1,500 large and mid-cap holdings. This broader coverage means IWLD includes companies below $5 billion market cap that VGS excludes, adding a small-cap growth premium over time. Historically, small caps have outperformed large caps over long periods, giving IWLD a structural diversification advantage for patient Australian investors.
Why is IWLD's MER so much lower than VGS despite holding more stocks?+
IWLD charges just 0.09% MER versus VGS's 0.18%, largely because BlackRock leverages its enormous global scale and internal fund-of-funds structure to keep costs down. IWLD achieves its broad exposure by investing in underlying iShares funds rather than holding all 4,000+ stocks directly, which reduces operational costs. For Australian investors focused on minimising fees, IWLD offers significantly more diversification than VGS at half the management cost.
Is IWLD suitable as a sole international equity allocation in an SMSF?+
IWLD is one of the strongest candidates for a single international equity holding in an SMSF because its all-cap approach covers large, mid, and small companies across 23 developed markets. Unlike VGS, you don't need to add a separate small-cap fund like VISM to capture the full market. However, IWLD excludes emerging markets, so SMSF trustees seeking complete global coverage may still want to pair it with a fund like VGE or IEM for developing economy exposure.
How does IWLD's fund-of-funds structure affect tracking and tax efficiency?+
IWLD uses a fund-of-funds approach, investing in underlying iShares ETFs rather than directly holding individual stocks. This can introduce minor tracking differences versus the MSCI World IMI benchmark, though BlackRock manages this efficiently in practice. For Australian tax purposes, distributions are treated the same as direct-holding ETFs, with foreign income tax offsets typically available. The structure has no CGT disadvantage, but investors should review AMMA statements carefully at tax time.