MXWO.L vs. VWCE.DE
MXWO.L (Invesco MSCI World UCITS ETF) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both Global Equities funds - MXWO.L tracks the MSCI ACWI NR USD while VWCE.DE tracks the FTSE All-World Index. Both are passively managed. Over the past 5 years, MXWO.L returned 11.92%/yr vs 11.24%/yr for VWCE.DE. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.19% expense ratio.
Performance
MXWO.L vs. VWCE.DE - Performance Comparison
Loading charts...
Different Trading Currencies
MXWO.L is traded in USD, while VWCE.DE is traded in EUR. To make them comparable, the VWCE.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MXWO.L achieves a 9.99% return, which is significantly lower than VWCE.DE's 11.34% return.
MXWO.L
- 1D
- 0.04%
- 1M
- 4.21%
- YTD
- 9.99%
- 6M
- 11.10%
- 1Y
- 26.14%
- 3Y*
- 20.86%
- 5Y*
- 11.92%
- 10Y*
- 13.12%
VWCE.DE
- 1D
- -0.08%
- 1M
- 4.29%
- YTD
- 11.34%
- 6M
- 13.01%
- 1Y
- 28.58%
- 3Y*
- 21.06%
- 5Y*
- 11.24%
- 10Y*
- —
MXWO.L vs. VWCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MXWO.L Invesco MSCI World UCITS ETF | 9.99% | 20.83% | 19.19% | 24.56% | -18.08% | 22.12% | 16.27% | 7.25% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 11.34% | 23.23% | 17.30% | 21.91% | -18.24% | 18.47% | 15.65% | 8.51% |
Correlation
The correlation between MXWO.L and VWCE.DE is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2019 | 0.91 |
The correlation between MXWO.L and VWCE.DE has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MXWO.L vs. VWCE.DE — Risk / Return Rank
MXWO.L
VWCE.DE
MXWO.L vs. VWCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World UCITS ETF (MXWO.L) and Vanguard FTSE All-World UCITS ETF (VWCE.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.
| MXWO.L | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.42 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 3.19 | -0.07 |
| Martin ratioReturn relative to average drawdown | 13.34 | 13.71 | -0.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MXWO.L | VWCE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 2.35 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.73 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.77 | +0.09 |
Drawdowns
MXWO.L vs. VWCE.DE - Drawdown Comparison
The maximum MXWO.L drawdown since its inception was -33.89%, roughly equal to the maximum VWCE.DE drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for MXWO.L and VWCE.DE.
Loading charts...
Drawdown Indicators
| MXWO.L | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.89% | -33.91% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -8.91% | +0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -17.85% | -17.27% | -0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -26.11% | +0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -33.89% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -0.81% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -4.31% | -5.43% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 2.08% | -0.13% |
Volatility
MXWO.L vs. VWCE.DE - Volatility Comparison
Invesco MSCI World UCITS ETF (MXWO.L) and Vanguard FTSE All-World UCITS ETF (VWCE.DE) have volatilities of 3.32% and 3.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MXWO.L | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 3.45% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.15% | 9.26% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.88% | 12.12% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 15.28% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.93% | 17.33% | -1.40% |
MXWO.L vs. VWCE.DE - Expense Ratio Comparison
Both MXWO.L and VWCE.DE have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
MXWO.L vs. VWCE.DE - Dividend Comparison
Neither MXWO.L nor VWCE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.90, MXWO.L and VWCE.DE 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.
Both ETFs have the same 0.19% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MXWO.L and VWCE.DE have the same expense ratio: 0.19% per year.
MXWO.L tracks MSCI ACWI NR USD, while VWCE.DE tracks FTSE All-World Index. They also come from different issuers: Invesco and Vanguard.
Find the right allocation for MXWO.L and VWCE.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer