At a glance
ACWI charges 0.32% a year, above the 0.13% average of the 8 funds most like it (the 8th cheapest of 9). It has $32.49B in assets, the 4th largest of that group; it paid 1.44% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +11.9% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +20.9% a year. At its worst it fell 33.3% in the 2020 crash (S&P 500: 33.7%) and 26.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 15 months after the lows. Its ten largest positions make up 24.1% of the fund, out of 2,267 in all.
The short version
The iShares MSCI ACWI ETF (ACWI) is a BlackRock index fund tracking the MSCI ACWI, with 2,267 holdings in large and mid-sized companies across developed and emerging markets as of July 31, 2026. U.S. stocks are about 61%, with the rest in Japan, the U.K., Canada, Taiwan and other markets. The main drawback is cost: its 0.32% expense ratio (annual fee) is well above the 0.13% average for funds with the most overlapping holdings.
Price history
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ACWI +11.9% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ACWI official prospectus, to Dec 31, 2024 | — | +17.41% | — | +10.07% | +9.34% | — |
| MSCI All Country World Index Net index, same period | — | +17.49% | — | +10.06% | +9.23% | — |
| ACWI price data to Nov 2, 2026 | +10.8% | +11.9% | +20.9% | +9.9% | +12.6% | +8.4% |
- Over the year to Nov 2, 2026, ACWI returned +11.9%, 7th of 9 among similar funds.
- Its 5-year annualized return was +9.9% and its 10-year +12.6%.
- In the 2020 COVID crash it fell 33.3% and regained its old high 4.9 months after the low.
- Its worst full calendar year was 2022 (-18.4%); its best was 2009 (+32.4%).
- The deepest fall in its price history was 55.4% (May 16, 2008 to Mar 9, 2009), recovered by Jan 18, 2013.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +10.8% | — |
| 2025 | +22.4% | — |
| 2024 | +17.5% | +17.41% |
| 2023 | +22.3% | +22.22% |
| 2022 | -18.4% | -18.27% |
| 2021 | +18.7% | +18.38% |
| 2020 | +16.3% | +16.38% |
| 2019 | +26.6% | +26.70% |
| 2018 | -9.1% | -9.15% |
| 2017 | +24.4% | +24.35% |
| 2016 | +8.4% | +8.22% |
| 2015 | -2.2% | -2.39% |
| 2014 | +3.8% | — |
| 2013 | +22.3% | — |
| 2012 | +16.8% | — |
| 2011 | -7.8% | — |
| 2010 | +12.8% | — |
| 2009 | +32.4% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 33.3% over that stretch · deepest drop along the way 33.3%, back to its old high 4.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 26.4% over that stretch · deepest drop along the way 26.4%, back to its old high 15.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.0100 | |
| 2025 | $2.2000 | +9.5% |
| 2024 | $2.0100 | +5.2% |
| 2023 | $1.9100 | +24.8% |
| 2022 | $1.5300 | -15.5% |
| 2021 | $1.8100 | +39.2% |
| 2020 | $1.3000 | -29.7% |
| 2019 | $1.8500 | +28.1% |
| 2018 | $1.4442 | +3.2% |
| 2017 | $1.4000 | +8.5% |
| 2016 | $1.2900 | -9.8% |
| 2015 | $1.4300 | +7.5% |
| 2014 | $1.3300 | +22.0% |
| 2013 | $1.0900 | +0.9% |
| 2012 | $1.0800 | +6.9% |
| 2011 | $1.0100 | +24.7% |
| 2010 | $0.8100 | +47.3% |
| 2009 | $0.5500 |
What's inside
As of Jul 31, 2026, the fund held 2,267 securities; the ten largest made up 24.12% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 4.56% | |
| APPLE INC. | 4.46% | |
| MICROSOFT CORPORATION | 3.22% | |
| AMAZON.COM, INC. | 2.58% | |
| ALPHABET INC. Class A | 2.04% | |
| Taiwan Semiconductor Manufacturing Company Limited | 1.79% | |
| BROADCOM INC. | 1.72% | |
| ALPHABET INC. | 1.62% | |
| META PLATFORMS, INC. | 1.20% | |
| JPMORGAN CHASE & CO. | 0.93% | |
| MICRON TECHNOLOGY, INC. | 0.91% | |
| ELI LILLY AND COMPANY | 0.91% | |
| TESLA, INC. | 0.86% | |
| Samsung Electronics Co., Ltd. | 0.80% | |
| ADVANCED MICRO DEVICES, INC. | 0.76% |
By country
United States 61.4%Japan 4.98%United Kingdom 3.18%Canada 3.07%Taiwan 3.06%By asset type
Stocks 99.09%Other 0.67%Preferred stock 0.02%By sector
Sectors of the companies held, for the 55.3% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $158.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.80%, -0.45%, -0.36%.
How it works
ACWI tracks the MSCI ACWI, an index run by MSCI Inc., a company independent of BlackRock. MSCI decides which large and mid-sized companies from developed and emerging markets belong and how much each counts. Companies are weighted by market value, counting only shares available to public investors (the “free float”), so the biggest companies get the biggest slices. As of July 31, 2026, NVIDIA (4.6%), Apple (4.5%) and Microsoft (3.2%) led, and the top 10 made up 24.1% of assets.
BlackRock uses “representative sampling”: instead of owning every index stock, it may hold a sample matching the index's size, industry and yield profile. At least 80% of assets generally go into index stocks or depositary receipts (certificates that represent foreign shares). Up to 20% can go into futures, options, swaps, cash and money market funds. The fund may also lend out securities worth up to one-third of its assets, backed by collateral, to earn extra income.
The fund doesn't try to beat the index or shift to cash when markets fall. Its prospectus, filed November 21, 2025, shows light trading (3% turnover, the share of holdings replaced in a year) and close tracking: 9.34% a year over the 10 years to December 31, 2024, versus 9.23% for the MSCI All Country World Index Net.
What it really costs
- ACWI charges 0.32% a year, versus an average of 0.13% for the similar funds below (8th of 9, cheapest first).
- Of that, 0.31% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $33 in the first year and $406 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ACWI | $33 | $103 | $180 | $406 |
In a retirement portfolio
With 2,267 holdings across developed and emerging markets as of July 31, 2026, it can cover most of a portfolio's stock allocation in a single fund.
ACWI adds worldwide stock exposure in one fund, but it falls hard in selloffs. It launched in March 2008, after the 2007 market peak, so its 2008 crisis record is partial; even so, it fell 55.4% from May 2008 to March 2009 and needed about 46 months to recover. It dropped 33.3% in the 2020 COVID crash (about 5 months to recover) and 26.4% in the 2022 bear market (about 15 months). Its worst calendar year, 2022, lost 18.27%. Withdrawals in a year like that mean cashing in shares at low prices.
Income is modest: a 12-month yield of 1.42% as of October 27, 2026, paid twice a year. In the SEC's standard example, the 0.32% annual fee costs $33 on $10,000 in year one and $406 over 10 years. Past results don't predict future ones, and a plan needs to consider the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting stocks from developed and emerging markets in one fund, with U.S. companies at about 61% of assets as of July 31, 2026.
- Investors who prefer letting company market values set country weights, rather than choosing their own U.S.-versus-international split.
- Long-term investors able to ride out deep drops, like the 55.4% fall from May 2008 to March 2009 that took about 46 months to recover.
Look elsewhere if
- Cost-focused investors: its 0.32% expense ratio ranks 8th of 9 among funds with similar holdings; iShares' U.S.-only ITOT charges 0.03%.
- People who need regular income: the 12-month yield was 1.42% as of October 27, 2026, and payouts come only twice a year.
- Investors wanting small-company stocks or less big-tech weight: the index excludes small caps, and NVIDIA led a top 10 worth 24.1% (July 31, 2026).
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ACWI this fund | — | 0.32% | $32.49B | +11.9% | +20.9% |
| BKLC BNY Mellon US Large Cap Core Equity ETF | 60% | 0% | $5.47B | +13.4% | +25.4% |
| VTHR Vanguard Russell 3000 ETF | 59% | 0.07% | $6.41B | +13.1% | +24.5% |
| QDPL Pacer Metaurus US Large Cap Dividend Multip… | 59% | 0.6% | $1.71B | +12.6% | +22.7% |
| ITOT iShares Core S&P Total U.S. Stock Market ETF | 59% | 0.03% | $94.14B | +11.4% | +21.8% |
| VTI Vanguard Total Stock Market ETF | 59% | 0.03% | $2.30T | +12.5% | +23.4% |
| USPX Franklin U.S. Equity Index ETF | 59% | 0.03% | $1.98B | +12.9% | +24.9% |
| IWV iShares Russell 3000 ETF | 59% | 0.2% | $19.47B | +11.3% | +21.5% |
Questions investors ask
Is ACWI good for retirement?
It can serve as a core stock holding, since it spreads money across 2,267 large and mid-sized companies in developed and emerging markets (as of July 31, 2026). But it is nearly all stocks and has fallen hard: down 33.3% in the 2020 COVID crash and 26.4% in the 2022 bear market, which took about 15 months to recover. Its 1.42% yield (as of October 27, 2026) is modest, and its 0.32% expense ratio tops the 0.13% average among funds with similar holdings.
What's the difference between ACWI and ITOT?
Geography and cost. ITOT, the iShares Core S&P Total U.S. Stock Market ETF, holds only U.S. stocks, while ACWI adds companies from Japan, the U.K., Canada, Taiwan and other markets; U.S. stocks were 61.4% of ACWI as of July 31, 2026. About 59% of their holdings overlap. ITOT charges 0.03% a year versus ACWI's 0.32%. As of October 27, 2026, ITOT returned 13.2% over one year and 24.6% a year over three years, against 13.1% and 23.5% for ACWI. The higher fee pays for ACWI's reach beyond the U.S.
How often does ACWI pay dividends?
Twice a year. ACWI pays dividends semiannually, passing along the dividends from the stocks it holds. Over the 12 months to October 27, 2026, it paid $2.25 per share, a yield of 1.42%. That is modest income, since the fund aims to track a broad stock index rather than pick high-dividend stocks. Payouts can rise or fall with the dividends its holdings pay and with currency moves, since foreign dividends are converted to U.S. dollars.
How much of ACWI is in US stocks?
About 61%. As of July 31, 2026, U.S. companies made up 61.4% of the fund, followed by Japan (4.98%), the U.K. (3.18%), Canada (3.07%), Taiwan (3.06%) and Switzerland (2.3%). The largest holdings were NVIDIA (4.6%), Apple (4.5%), Microsoft (3.2%) and Amazon (2.6%), with Taiwan Semiconductor Manufacturing the biggest non-U.S. stock at 1.8%. The top 10 holdings made up 24.1% of assets, so a few large U.S. tech companies carry real weight.
What is ACWI's average annual return?
ACWI returned 9.34% a year over the 10 years to December 31, 2024, according to its prospectus, close to the 9.23% for the MSCI All Country World Index Net. Its five-year and one-year figures to that date were 10.07% and 17.41%. Based on market prices, its 10-year return was 12.6% a year as of October 27, 2026. Between 2015 and 2024, yearly results ranged from a 26.7% gain in 2019 to an 18.27% loss in 2022. It was up 12.82% year to date through October 27, 2026.