The iShares MSCI World Small Cap UCITS ETF (WLDS) is an Ireland-domiciled equity ETF managed by BlackRock through its iShares platform. WLDS is the ticker for the fund's GBP trading line on the London Stock Exchange.
The fund seeks to track the MSCI World Small Cap Index, a benchmark representing small-cap companies across developed markets worldwide.
The MSCI World Small Cap Index covers the small-cap segment of developed equity markets and represents approximately 14% of the free float-adjusted market capitalization in each country. The benchmark provides exposure to thousands of smaller companies across different sectors and regions.
Composition / Exposure Profile
WLDS holds companies across different areas of the economy, including:
Industrials.
Financials.
Consumer discretionary.
Technology.
Materials.
Health care.
Real estate.
Energy.
Consumer staples.
Communication services.
Utilities.
Geographic exposure spans multiple developed markets. The United States represents the largest portion of the portfolio, while Japan, Canada, the United Kingdom, Australia, and several European markets are also represented.
The strategy complements the exposure provided by global indexes focused on large- and mid-cap companies by specifically targeting the small-cap segment of developed equity markets.
Structure and Costs
The fund and share class have the U.S. dollar as their base currency. On the London Stock Exchange, the accumulating share class trades in GBP under WLDS and in USD under WSML. The trading currency does not change the portfolio's underlying economic exposure or provide currency hedging.
The ETF has a total expense ratio (TER) of 0.35% per year, uses optimized physical replication, and is domiciled in Ireland. It operates as part of iShares III plc under the UCITS framework.
WLDS follows an accumulating income policy. Dividends received from portfolio companies are therefore reinvested within the fund rather than periodically distributed to shareholders.
History and Evolution of the ETF
The iShares MSCI World Small Cap UCITS ETF USD (Acc) was launched in 2018 to provide diversified exposure to small-cap companies across developed equity markets.
Since its launch, the fund has maintained a passive strategy linked to the MSCI World Small Cap Index, tracking small-cap companies across different countries and sectors.
Throughout its history, the fund's performance has reflected movements across global small-cap equities, including changes in economic conditions, interest rates, credit availability, and the financial performance of smaller companies across developed markets.
Additional Information
iShares MSCI World Small Cap UCITS ETF USD Acc (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $7.52 billion.
Over the past 12 months, iShares MSCI World Small Cap UCITS ETF USD Acc recorded a return of 13.72%, with its price trading between $8.49 and $11.89 during the same period.
The ETF is traded under the ticker WLDS.