iShares Core MSCI World UCITS ETF (IWDA / EUNL): costs, tracking and alternatives
Guide contents
Key facts
An accumulating, physically replicated, Irish-domiciled UCITS ETF on the MSCI World: about 1,250 holdings in 23 developed countries, dividends reinvested, 0.20% a year.
| IWDA / EUNL (Acc) | |
|---|---|
| ISIN | IE00B4L5Y983 |
| Tickers | EUNL (Xetra, EUR) · IWDA (Euronext Amsterdam) · SWDA (Borsa Italiana) · IWDA (LSE, USD) |
| Issuer | iShares (BlackRock) |
| Index | MSCI World |
| TER (annual cost) | 0.20% |
| Replication | Physical (sampling) |
| Dividends | Accumulating |
| Domicile | Ireland |
| Fund currency | USD |
| Launch date | 25 Sept 2009 |
| Fund size (share class) | USD 149.0bn |
| Holdings | 1.250 |
| Vs. index 2023 / 2024 / 2025 | +0.1 pp / 0.0 pp / +0.1 pp |
Checked on 28 Sept 2026. Sources: iShares (BlackRock). Fund size changes daily; the TER is the figure that matters for cost.
Against the cheaper MSCI World ETFs
Its TER is higher than several rivals. But in 2023–2025 it tracked the index as well as Xtrackers at 0.12%, helped by securities lending income. Its real advantages are size and liquidity: tight spreads on every major exchange.
| Product | TER | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| iShares Core MSCI World UCITS ETF USD (Acc) | 0.20% | +0.1 pp | 0.0 pp | +0.1 pp |
| Xtrackers MSCI World UCITS ETF 1C | 0.12% | +0.1 pp | 0.0 pp | +0.1 pp |
| SPDR MSCI World UCITS ETF (Acc) | 0.12% | +0.2 pp | +0.2 pp | +0.1 pp |
| Invesco MSCI World UCITS ETF (Acc) | 0.05% | +0.2 pp | +0.1 pp | +0.1 pp |
| HSBC MSCI World UCITS ETF USD (Dist) | 0.15% | +0.3 pp | 0.0 pp | +0.2 pp |
Fund return minus index return, in percentage points, per calendar year; positive means the fund did better than its index. Source: trackingdifferences.com, rounded to 0.1. Past tracking does not guarantee future tracking.
Pros and cons
- Pro: the largest and most liquid MSCI World ETF in Europe.
- Pro: tracked the index slightly better than its TER suggests.
- Con: 0.20% TER, above the 0.12% of Xtrackers, SPDR and Amundi Core.
- Con: no emerging markets and about 72% US, as with any MSCI World product.
How to buy it from Spain
Most European brokers offer it. In euros, the Xetra line (EUNL) is usually the most liquid; on Euronext Amsterdam it trades as IWDA. Check the ISIN, not only the ticker, when placing the order.
As an ETF, it is outside the Spanish tax-free switching regime: selling it to buy something else realises the gain. If that matters to you, the index-fund alternatives are listed on the index page.
Keep it in view with the rest of your money
A world ETF is usually the core of a portfolio, which makes its weight in your total the number to watch.
FinBoard connects your banks and brokers and shows this position next to everything else, in one currency, so you see what share of your net worth it really is.
This is educational content, not financial advice: it explains how these products work so you can make your own decisions, and it does not recommend buying or selling any of them.
Frequently asked questions
Is IWDA the same as EUNL?
Yes: same fund and ISIN (IE00B4L5Y983), listed on different exchanges — IWDA on Euronext Amsterdam and the LSE, EUNL on Xetra, SWDA on Borsa Italiana.
Does it pay dividends?
No. It is accumulating: dividends are reinvested inside the fund.
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