The 21-year-old Loughborough University Criminology student clocked a time of 2:04.77 - beating the previous 2015 record of 2:05.13 - as she represented the New York Breakers to become the third-fastest European ever at the event.
The Individual Medley requires swimmers to use all four competitive strokes, including butterfly, backstroke, breaststroke and freestyle.
Wood, who has enjoyed a successful ISL thus far, showed improvements in the breaststroke leg of the race as she powered through to take the victory.
The ISL will take place entirely in a 'Budapest bubble' between 16 October and 22 November.
Franchises for the competition include London Roar, New York Breakers, Energy Standard, Toronto Titans, Aqua Centurions, Team Iron, Cali Condors, Tokyo Frog Kings, LA Current, DC Trident.