MUV2.DE vs. VGVF.DE

Last updated Jun 5, 2026

MUV2.DE (Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München) is a stock, while VGVF.DE (Vanguard FTSE Developed World UCITS ETF Acc) is Global Equities fund tracking the FTSE Developed. Over the past 5 years, MUV2.DE returned 17.74%/yr vs 13.14%/yr for VGVF.DE. At a 0.40 correlation, their price movements are largely independent.

Performance

MUV2.DE vs. VGVF.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MUV2.DE) and Vanguard FTSE Developed World UCITS ETF Acc (VGVF.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUV2.DE achieves a -17.78% return, which is significantly lower than VGVF.DE's 12.58% return.

MUV2.DE

• 1D: 0.50%
• 1M: -15.74%
• YTD: -17.78%
• 6M: -13.04%
• 1Y: -19.75%
• 3Y*: 13.55%
• 5Y*: 17.74%
• 10Y*: 15.26%

VGVF.DE

• 1D: -0.15%
• 1M: 3.98%
• YTD: 12.58%
• 6M: 12.87%
• 1Y: 26.34%
• 3Y*: 18.25%
• 5Y*: 13.14%
• 10Y*: —

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

MUV2.DE vs. VGVF.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München	-17.78%	19.39%	34.63%	27.77%	22.28%	11.54%	-6.59%
VGVF.DE Vanguard FTSE Developed World UCITS ETF Acc	12.58%	8.99%	24.73%	20.35%	-13.58%	31.62%	3.27%

Correlation

The correlation between MUV2.DE and VGVF.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Feb 5, 2020	0.40

The correlation between MUV2.DE and VGVF.DE shifts across timeframes, from 0.22 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MUV2.DE vs. VGVF.DE — Risk / Return Rank

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

MUV2.DE

MUV2.DE Risk / Return Rank: 8
MUV2.DE Sharpe Ratio Rank: 6
MUV2.DE Sortino Ratio Rank: 9
MUV2.DE Omega Ratio Rank: 10
MUV2.DE Calmar Ratio Rank: 11
MUV2.DE Martin Ratio Rank: 2

VGVF.DE

VGVF.DE Risk / Return Rank: 77
VGVF.DE Sharpe Ratio Rank: 73
VGVF.DE Sortino Ratio Rank: 73
VGVF.DE Omega Ratio Rank: 75
VGVF.DE Calmar Ratio Rank: 81
VGVF.DE Martin Ratio Rank: 85

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.

MUV2.DE vs. VGVF.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MUV2.DE) and Vanguard FTSE Developed World UCITS ETF Acc (VGVF.DE). 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.

	MUV2.DE	VGVF.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	2.34	-3.27
Sortino ratio: Return per unit of downside risk	-1.15	3.26	-4.41
Omega ratio: Gain probability vs. loss probability	0.85	1.44	-0.59
Calmar ratio: Return relative to maximum drawdown	-0.82	4.19	-5.00
Martin ratio: Return relative to average drawdown	-1.76	17.27	-19.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUV2.DE vs. VGVF.DE - Sharpe Ratio Comparison

The current MUV2.DE Sharpe Ratio is -0.93, which is lower than the VGVF.DE Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of MUV2.DE and VGVF.DE, 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

	MUV2.DE	VGVF.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.93	2.34	-3.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.93	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.79	-0.49

Drawdowns

MUV2.DE vs. VGVF.DE - Drawdown Comparison

The maximum MUV2.DE drawdown since its inception was -86.40%, which is greater than VGVF.DE's maximum drawdown of -33.54%. Use the drawdown chart below to compare losses from any high point for MUV2.DE and VGVF.DE.

Drawdown Indicators

	MUV2.DE	VGVF.DE	Difference
Max Drawdown Largest peak-to-trough decline	-86.40%	-33.54%	-52.86%
Max Drawdown (1Y) Largest decline over 1 year	-24.32%	-6.28%	-18.04%
Max Drawdown (3Y) Largest decline over 3 years	-24.32%	-21.17%	-3.15%
Max Drawdown (5Y) Largest decline over 5 years	-25.36%	-21.17%	-4.19%
Max Drawdown (10Y) Largest decline over 10 years	-48.43%	—	—
Current Drawdown Current decline from peak	-23.94%	-0.55%	-23.39%
Average Drawdown Average peak-to-trough decline	-30.62%	-4.91%	-25.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.32%	1.53%	+9.79%

Volatility

MUV2.DE vs. VGVF.DE - Volatility Comparison

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MUV2.DE) has a higher volatility of 8.26% compared to Vanguard FTSE Developed World UCITS ETF Acc (VGVF.DE) at 2.86%. This indicates that MUV2.DE's price experiences larger fluctuations and is considered to be riskier than VGVF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUV2.DE	VGVF.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.26%	2.86%	+5.40%
Volatility (6M) Calculated over the trailing 6-month period	15.90%	8.02%	+7.88%
Volatility (1Y) Calculated over the trailing 1-year period	21.45%	11.22%	+10.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.60%	13.96%	+8.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	16.23%	+8.04%

Dividends

MUV2.DE vs. VGVF.DE - Dividend Comparison

MUV2.DE's dividend yield for the trailing twelve months is around 5.44%, while VGVF.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München	5.44%	3.56%	3.08%	3.09%	3.62%	3.76%	4.04%	3.52%	4.51%	4.76%	4.59%	4.20%
VGVF.DE Vanguard FTSE Developed World UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MUV2.DE and VGVF.DE in my portfolio?

MUV2.DE and VGVF.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.