# iShares MSCI World Small Cap UCITS ETF (WLDS)

**Page:** https://fundology.uk/fund/wlds · ISIN IE00BF4RFH31

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, WLDS (iShares MSCI World Small Cap UCITS ETF, ISIN IE00BF4RFH31) closed at £7.69 on the London Stock Exchange. Its ongoing charge is 0.35% a year (about £35 on £10,000). Over the five years to 13/11/2026 its total return was +36.1%, or +6.3% after UK CPIH inflation.

## Summary

iShares MSCI World Small Cap UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2018. It tracks the MSCI World Index Small Cap — about 1,300 large and medium-sized companies in 23 developed countries, around 70% of it in the US. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.35% a year — about £35 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **£7.69** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | WLDS |
| ISIN | IE00BF4RFH31 |
| Also listed as | WSML (London Stock Exchange, US dollars), IUSN (Xetra, euros) |
| Category | Smaller companies |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI World Index Small Cap |
| Income | Accumulating |
| Ongoing charge | 0.35% a year (£35 per £10,000) |
| Fund size | £6.9bn |
| Launched | 2018 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 27/03/2018 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +16.09% | +11.98% | income reinvested |
| 3 years | +58.52% | +43.22% | income reinvested |
| 5 years | +36.13% | +6.25% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares MSCI World Small Cap UCITS ETF in pounds (price, with income reinvested in the fund): 2022 −8.8%, 2023 +10.7%, 2024 +10.2%, 2025 +10.9%; 2026 to 13/11/2026 +13.6%. Returns of iShares MSCI World Small Cap UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +15.5%; to 30/09/2025: +14.2%; to 30/09/2024: +14.0%; to 30/09/2023: +2.0%; to 30/09/2022: −6.5%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -8.8% | -16.5% | Price |
| 2023 | +10.7% | +6.3% | Price |
| 2024 | +10.2% | +6.4% | Price |
| 2025 | +10.9% | +7.1% | Price |
| 2026 to 13/11/2026 | +13.6% | +10.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.48% | -8.16% |
| 3 years | 14.57% | -19.24% |
| 5 years | 15.37% | -19.59% |

## Largest fall

Volatility of iShares MSCI World Small Cap UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 13.5% over 1 year, 14.6% over 3 years, 15.4% over 5 years. Largest fall in the price of iShares MSCI World Small Cap UCITS ETF since November 2021, in pounds: −19.2% from 24/01/2025 to 04/04/2025. The lowest 12-month return of iShares MSCI World Small Cap UCITS ETF in pounds (price, with income reinvested in the fund) since July 2021 was −11.2% (12 months to 04/11/2022); the highest was +40.7% (12 months to 17/04/2026). On 13/11/2026 the price of iShares MSCI World Small Cap UCITS ETF was 3.5% below its highest weekly close since November 2021 (14/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares MSCI World Small Cap UCITS ETF 0.35% a year. Compared on 14/11/2026, 13 of the 36 other smaller-company funds charge more, 2 the same and 21 less (share classes counted once).

## Funds tracking the same index

5 funds track MSCI World Index Small Cap, this one included and share classes counted once; their ongoing charges range from 0.25% to 0.46% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| iShares MSCI World Small Cap UCITS ETF (this fund) | 0.35% | +16.1% | +58.5% | +36.1% |
| State Street SPDR MSCI World Small Cap UCITS ETF | 0.46% | +13.7% | — | — |
| State Street SPDR MSCI World Small Cap UCITS ETF Accum.Shs USD | 0.45% | +14.6% | +53.1% | +33.1% |
| Xtrackers MSCI World Small Cap UCITS ETF -1D- USD | 0.25% | +15.5% | — | — |
| Xtrackers MSCI World Small Cap UCITS ETF Accum-1C- USD | 0.25% | +13.5% | — | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.35%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, WLDS holds 3,571 positions, according to its published holdings. The largest is Moderna at 0.84% of the fund; the ten largest make up 3.0%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Moderna | [MRNA](https://fundology.uk/stock/MRNA) | 0.84% |
| 2 | Cash and other net assets | — | 0.53% |
| 3 | Tenet Healthcare | [THC](https://fundology.uk/stock/THC) | 0.24% |
| 4 | US Foods | [USFD](https://fundology.uk/stock/USFD) | 0.23% |
| 5 | Royal Gold | [RGLD](https://fundology.uk/stock/RGLD) | 0.22% |
| 6 | Viatris | [VTRS](https://fundology.uk/stock/VTRS) | 0.22% |
| 7 | Roku · Class A | [ROKU](https://fundology.uk/stock/ROKU) | 0.21% |
| 8 | Guardant Health | [GH](https://fundology.uk/stock/GH) | 0.18% |
| 9 | Itt | [ITT](https://fundology.uk/stock/ITT) | 0.18% |
| 10 | Tyler Technologies | [TYL](https://fundology.uk/stock/TYL) | 0.18% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

As published for the fund, as of 06/11/2026.

| Sector | Weight |
|---|---|
| Industrials | 18.8% |
| Financials | 14.6% |
| Health Care | 12.2% |
| Information Technology | 11.8% |
| Consumer Discretionary | 10.8% |
| Materials | 8.2% |
| Real Estate | 8.1% |
| Energy | 4.7% |
| Other sectors | 11.0% |

### By country

As published for the fund, as of 06/11/2026.

| Country | Weight |
|---|---|
| United States | 61.6% |
| Japan | 11.9% |
| United Kingdom | 4.4% |
| Canada | 4.2% |
| Australia | 3.8% |
| Sweden | 1.8% |
| Switzerland | 1.5% |
| Israel | 1.4% |
| Other countries | 9.4% |

### By type of asset

Added up from the fund’s published holdings, as of 06/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.4% |
| Cash and money market | 0.6% |

The 3,268 holdings on record (of 3,571 reported): https://fundology.uk/fund/wlds/holdings

## Questions people ask

**What is the ongoing charge of WLDS?**

The ongoing charge of WLDS is 0.35% a year — about £35 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of iShares MSCI World Small Cap UCITS ETF 0.35% a year. Compared on 14/11/2026, 13 of the 36 other smaller-company funds charge more, 2 the same and 21 less (share classes counted once).

**What does WLDS track?**

WLDS tracks the MSCI World Index Small Cap — about 1,300 large and medium-sized companies in 23 developed countries, around 70% of it in the US.

**Is WLDS accumulating or distributing?**

WLDS is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of WLDS?**

The ISIN of WLDS is IE00BF4RFH31. An ISIN identifies one exact share class of a fund; WLDS is its ticker on the London Stock Exchange. The same share class is also listed as WSML (London Stock Exchange, US dollars) and IUSN (Xetra, euros).

**What does WLDS hold?**

As of 06/11/2026, WLDS holds 3,571 positions, according to its published holdings. The largest is Moderna at 0.84% of the fund; the ten largest make up 3.0%. Its ten largest holdings are Moderna (0.84%), Cash and other net assets (0.53%), Tenet Healthcare (0.24%), US Foods (0.23%), Royal Gold (0.22%), Viatris (0.22%), Roku · Class A (0.21%), Guardant Health (0.18%), Itt (0.18%) and Tyler Technologies (0.18%).

**What were WLDS’s returns in each of the last five years?**

Calendar-year returns of WLDS in pounds (price, with income reinvested in the fund): 2022 −8.8%, 2023 +10.7%, 2024 +10.2%, 2025 +10.9%; 2026 to 13/11/2026 +13.6%. Past performance is not a guide to future returns.

**How has WLDS done after inflation?**

Over the five years to 13/11/2026 WLDS’s total return was +36.1%, or +6.3% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/296576/ishares-msci-world-small-cap-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-msci-world-small-cap-ucits-etf-usd-acc-gb-ie00bf4rfh31-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/wsml-ishares-msci-world-small-cap-ucits-etf-fund-fact-sheet-en-gb.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.