FTWD.L vs. VWRL.L

Last updated Jun 4, 2026

FTWD.L (Invesco FTSE All-World UCITS ETF Dist) and VWRL.L (Vanguard FTSE All-World UCITS ETF Distributing) are both Global Equities funds tracking the FTSE All-World Index, from Invesco and Vanguard respectively. Both are passively managed. Over the past year, FTWD.L returned 29.73% vs 29.36% for VWRL.L. Their correlation of 0.92 suggests significant overlap in exposure. FTWD.L charges 0.15%/yr vs 0.19%/yr for VWRL.L.

Performance

FTWD.L vs. VWRL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE All-World UCITS ETF Dist (FTWD.L) and Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FTWD.L is traded in USD, while VWRL.L is traded in GBP. To make them comparable, the VWRL.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with FTWD.L having a 11.83% return and VWRL.L slightly lower at 11.67%.

FTWD.L

• 1D: -0.56%
• 1M: 4.59%
• YTD: 11.83%
• 6M: 13.61%
• 1Y: 29.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VWRL.L

• 1D: -0.69%
• 1M: 4.75%
• YTD: 11.67%
• 6M: 13.11%
• 1Y: 29.36%
• 3Y*: 21.19%
• 5Y*: 11.28%
• 10Y*: 12.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FTWD.L vs. VWRL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTWD.L Invesco FTSE All-World UCITS ETF Dist	11.83%	22.55%	17.90%	8.37%
VWRL.L Vanguard FTSE All-World UCITS ETF Distributing	11.67%	22.59%	17.60%	8.50%

Correlation

The correlation between FTWD.L and VWRL.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.92

The correlation between FTWD.L and VWRL.L has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

Return for Risk

FTWD.L vs. VWRL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FTWD.L

FTWD.L Risk / Return Rank: 74
FTWD.L Sharpe Ratio Rank: 74
FTWD.L Sortino Ratio Rank: 79
FTWD.L Omega Ratio Rank: 75
FTWD.L Calmar Ratio Rank: 69
FTWD.L Martin Ratio Rank: 75

VWRL.L

VWRL.L Risk / Return Rank: 85
VWRL.L Sharpe Ratio Rank: 86
VWRL.L Sortino Ratio Rank: 87
VWRL.L Omega Ratio Rank: 88
VWRL.L Calmar Ratio Rank: 80
VWRL.L Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FTWD.L vs. VWRL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF Dist (FTWD.L) and Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FTWD.L	VWRL.L	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.49	-0.09
Sortino ratio: Return per unit of downside risk	3.52	3.64	-0.12
Omega ratio: Gain probability vs. loss probability	1.45	1.45	-0.01
Calmar ratio: Return relative to maximum drawdown	3.40	3.21	+0.19
Martin ratio: Return relative to average drawdown	14.20	14.02	+0.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTWD.L vs. VWRL.L - Sharpe Ratio Comparison

The current FTWD.L Sharpe Ratio is 2.41, which is comparable to the VWRL.L Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of FTWD.L and VWRL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTWD.L	VWRL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.49	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.54	0.81	+0.74

Drawdowns

FTWD.L vs. VWRL.L - Drawdown Comparison

The maximum FTWD.L drawdown since its inception was -16.68%, smaller than the maximum VWRL.L drawdown of -33.11%. Use the drawdown chart below to compare losses from any high point for FTWD.L and VWRL.L.

Drawdown Indicators

	FTWD.L	VWRL.L	Difference
Max Drawdown Largest peak-to-trough decline	-16.68%	-33.11%	+16.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.72%	-9.11%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.11%	—
Current Drawdown Current decline from peak	-0.56%	-0.69%	+0.13%
Average Drawdown Average peak-to-trough decline	-1.92%	-4.52%	+2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	2.09%	0.00%

Volatility

FTWD.L vs. VWRL.L - Volatility Comparison

Invesco FTSE All-World UCITS ETF Dist (FTWD.L) has a higher volatility of 3.94% compared to Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L) at 3.38%. This indicates that FTWD.L's price experiences larger fluctuations and is considered to be riskier than VWRL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTWD.L	VWRL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	3.38%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	9.63%	9.08%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	11.75%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.62%	15.06%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.62%	15.55%	-1.93%

FTWD.L vs. VWRL.L - Expense Ratio Comparison

FTWD.L has a 0.15% expense ratio, which is lower than VWRL.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FTWD.L vs. VWRL.L - Dividend Comparison

FTWD.L's dividend yield for the trailing twelve months is around 1.22%, less than VWRL.L's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTWD.L Invesco FTSE All-World UCITS ETF Dist	1.22%	1.34%	1.53%	0.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VWRL.L Vanguard FTSE All-World UCITS ETF Distributing	1.24%	1.39%	1.49%	1.72%	2.03%	1.45%	1.58%	1.95%	2.22%	1.90%	1.85%	2.00%

Frequently Asked Questions

Can I hold both FTWD.L and VWRL.L in my portfolio?

With a correlation of 0.92, FTWD.L and VWRL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FTWD.L or VWRL.L?

On fees, FTWD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTWD.L or VWRL.L?

FTWD.L is cheaper with a 0.15% expense ratio, compared with 0.19% for VWRL.L.

What is the main difference between FTWD.L and VWRL.L?

Both ETFs track FTSE All-World Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.15% for FTWD.L and 0.19% for VWRL.L.