In short: The MSCI World index is a global equity benchmark covering large and mid-cap companies across 23 developed countries, excluding emerging markets. A prominent European UCITS ETF tracking this benchmark is the iShares Core MSCI World UCITS ETF (IWDA), offering accumulating share units with ongoing charges of 0.20% per year.
In short
The MSCI World Index is a familiar name for many investors. It is the benchmark behind widely used ETFs like IWDA and IWDD. Despite what the name suggests, this index only covers developed markets. This means large parts of the world are not included. On this page, we explain how the index works, which countries are included, and the differences between the share classes that track it. You can find more funds in our ETF overview.
How the index is built
The index is managed by the index provider MSCI. The MSCI World Index tracks large and mid-sized companies across 23 developed-market countries. According to MSCI’s own index description, it covers about 85% of the free-float-adjusted market value in each of those countries.
Companies are weighted by their free-float market value. This system means that the country with the largest total market value has the greatest impact on the final result. Within this index, the United States is by far the largest country weight. Funds tracking this index attempt to mirror these proportions as closely as possible.
In August 2026 the index held 1,280 stocks and the ten largest companies together weighed 26.61% (MSCI factsheet). MSCI reviews the index every quarter, in February, May, August and November.
What is in it and what is not
In this context, “World” means the developed world. This is an important detail, as emerging markets are not included in this index. Countries such as China, India, Brazil and Taiwan belong to the emerging markets and are therefore not in this index.
MSCI maintains separate indexes for those regions. If you are looking for an index family that adds emerging markets, the MSCI ACWI family combines both. Another example of an index that does include emerging markets can be found on our FTSE All-World page.
The funds
There are two prominent share classes of the iShares Core MSCI World UCITS ETF. The fund is domiciled in Ireland. Both are share classes of iShares Core MSCI World UCITS ETF and have the same ongoing costs of 0.20%.
The fund buys the shares itself (physical replication, with optimisation) and held 1,250 stocks on 1 October 2026. Its assets under management were USD 152.1 billion on 2 October 2026.
- IWDA is the accumulating share class that reinvests dividends. It is also traded under the SWDA ticker on some exchanges. Launched on 25 September 2009.
- IWDD is the distributing share class, which pays out dividends 4 times a year. This share class launched on 26 July 2023; the fund itself has existed since 25 September 2009.
| Class | Ticker (EUR) | ISIN | Ongoing costs | Dividend | Check date |
|---|---|---|---|---|---|
| accumulating | IWDA (EUR); SWDA in London (GBP) | IE00B4L5Y983 | 0.20% | reinvested | Nov 2026 |
| distributing | IWDD (no verified euro listing; USD/GBP) | IE000OHHIBC6 | 0.20% | paid out, 4 times a year | Oct 2026 |
The official documents are on the issuer’s site:
- IWDA: KID and factsheet, published on the iShares website
- IWDD: KID and factsheet, published on the iShares website
Things to know
- Large US weight: Because the index is weighted by market value, the United States makes up the largest part of the portfolio.
- Currency: The fund’s base currency is the US dollar. Exchange rates directly affect the value of your investment in euros. This can involve currency costs and exchange rate risks.
- Ticker confusion: IWDA and SWDA are the same fund. They have the same ISIN but are listed on different exchanges. The ISIN is the reliable identifier to ensure you have the right fund.
- Risk: The value of your investment can fall and rise, also through exchange rates. This page is educational and not a recommendation. For providers, see our FAQ on funds and brokers.
Sources and check date
Information about the index is based on the MSCI World Index factsheet and methodology. Fund data and ongoing costs come from the iShares product page, factsheet, and KID. Learn more in our articles on how to read a factsheet and what an ETF costs. Read more about our approach at sources. Data checked September and October 2026. The fund data come from the iShares product page (1 and 2 October 2026); the index data from MSCI’s factsheet (August 2026) and the MSCI methodology.
Facts checked on 3 October 2026.
Source of the fund data: the issuers' factsheets and KIDs. Where the data comes from