PSWD.DE vs. VHGEX

Last updated Jun 4, 2026

PSWD.DE (Invesco FTSE RAFI All World 3000 UCITS ETF) and VHGEX (Vanguard Global Equity Fund) are both Global Equities funds. Over the past 10 years, PSWD.DE returned 11.99%/yr vs 11.60%/yr for VHGEX. A 0.57 correlation means they provide meaningful diversification when combined. PSWD.DE charges 0.39%/yr vs 0.45%/yr for VHGEX.

Performance

PSWD.DE vs. VHGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco FTSE RAFI All World 3000 UCITS ETF (PSWD.DE) and Vanguard Global Equity Fund (VHGEX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PSWD.DE is traded in EUR, while VHGEX is traded in USD. To make them comparable, the VHGEX values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, PSWD.DE achieves a 16.67% return, which is significantly higher than VHGEX's 8.83% return. Both investments have delivered pretty close results over the past 10 years, with PSWD.DE having a 11.99% annualized return and VHGEX not far behind at 11.60%.

PSWD.DE

• 1D: -0.13%
• 1M: 5.99%
• YTD: 16.67%
• 6M: 18.47%
• 1Y: 33.05%
• 3Y*: 19.16%
• 5Y*: 13.38%
• 10Y*: 11.99%

VHGEX

• 1D: 0.09%
• 1M: 4.76%
• YTD: 8.83%
• 6M: 9.33%
• 1Y: 20.70%
• 3Y*: 14.17%
• 5Y*: 8.51%
• 10Y*: 11.60%

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

PSWD.DE vs. VHGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSWD.DE Invesco FTSE RAFI All World 3000 UCITS ETF	16.67%	14.64%	17.68%	12.73%	-3.63%	31.90%	-3.90%	26.32%	-9.60%	5.60%
VHGEX Vanguard Global Equity Fund	8.83%	6.83%	20.90%	19.82%	-17.93%	21.52%	12.29%	31.63%	-4.89%	12.09%

Correlation

The correlation between PSWD.DE and VHGEX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Sep 12, 2014	0.57

The correlation between PSWD.DE and VHGEX has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.

Return for Risk

PSWD.DE vs. VHGEX — Risk / Return Rank

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

PSWD.DE

PSWD.DE Risk / Return Rank: 90
PSWD.DE Sharpe Ratio Rank: 90
PSWD.DE Sortino Ratio Rank: 90
PSWD.DE Omega Ratio Rank: 90
PSWD.DE Calmar Ratio Rank: 90
PSWD.DE Martin Ratio Rank: 92

VHGEX

VHGEX Risk / Return Rank: 32
VHGEX Sharpe Ratio Rank: 34
VHGEX Sortino Ratio Rank: 31
VHGEX Omega Ratio Rank: 31
VHGEX Calmar Ratio Rank: 29
VHGEX Martin Ratio Rank: 35

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.

PSWD.DE vs. VHGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI All World 3000 UCITS ETF (PSWD.DE) and Vanguard Global Equity Fund (VHGEX). 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.

	PSWD.DE	VHGEX	Difference
Sharpe ratio: Return per unit of total volatility	3.12	1.57	+1.55
Sortino ratio: Return per unit of downside risk	4.19	2.11	+2.07
Omega ratio: Gain probability vs. loss probability	1.58	1.29	+0.29
Calmar ratio: Return relative to maximum drawdown	5.59	2.12	+3.47
Martin ratio: Return relative to average drawdown	22.51	7.19	+15.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSWD.DE vs. VHGEX - Sharpe Ratio Comparison

The current PSWD.DE Sharpe Ratio is 3.12, which is higher than the VHGEX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of PSWD.DE and VHGEX, 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

	PSWD.DE	VHGEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	1.57	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.01	0.50	+0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.66	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.42	+0.26

Drawdowns

PSWD.DE vs. VHGEX - Drawdown Comparison

The maximum PSWD.DE drawdown since its inception was -36.39%, smaller than the maximum VHGEX drawdown of -60.19%. Use the drawdown chart below to compare losses from any high point for PSWD.DE and VHGEX.

Drawdown Indicators

	PSWD.DE	VHGEX	Difference
Max Drawdown Largest peak-to-trough decline	-36.39%	-60.19%	+23.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.89%	-10.41%	+4.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.19%	-23.10%	+4.91%
Max Drawdown (5Y) Largest decline over 5 years	-18.19%	-23.10%	+4.91%
Max Drawdown (10Y) Largest decline over 10 years	-36.39%	-32.73%	-3.66%
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-4.65%	-12.19%	+7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	3.06%	-1.60%

Volatility

PSWD.DE vs. VHGEX - Volatility Comparison

Invesco FTSE RAFI All World 3000 UCITS ETF (PSWD.DE) has a higher volatility of 3.21% compared to Vanguard Global Equity Fund (VHGEX) at 2.83%. This indicates that PSWD.DE's price experiences larger fluctuations and is considered to be riskier than VHGEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSWD.DE	VHGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	2.83%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	10.33%	-2.48%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	14.07%	-3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.16%	17.12%	-3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	17.72%	-2.53%

PSWD.DE vs. VHGEX - Expense Ratio Comparison

PSWD.DE has a 0.39% expense ratio, which is lower than VHGEX's 0.45% expense ratio.

Dividends

PSWD.DE vs. VHGEX - Dividend Comparison

PSWD.DE's dividend yield for the trailing twelve months is around 1.75%, less than VHGEX's 11.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSWD.DE Invesco FTSE RAFI All World 3000 UCITS ETF	1.75%	2.03%	2.27%	2.48%	2.66%	1.92%	1.98%	2.37%	2.56%	2.06%	1.97%	2.02%
VHGEX Vanguard Global Equity Fund	11.49%	12.38%	4.24%	1.15%	11.32%	10.90%	2.88%	6.20%	8.45%	1.29%	1.51%	1.71%

Frequently Asked Questions

Can I hold both PSWD.DE and VHGEX in my portfolio?

PSWD.DE and VHGEX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.