SWLD.L vs. VGVE.DE

Last updated Jun 4, 2026

SWLD.L (SPDR MSCI World UCITS ETF) and VGVE.DE (Vanguard FTSE Developed World UCITS ETF Distributing) are both Global Equities funds - SWLD.L tracks the MSCI ACWI NR USD while VGVE.DE tracks the FTSE Developed. Both are passively managed. Over the past 5 years, SWLD.L returned 13.15%/yr vs 13.13%/yr for VGVE.DE. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.

Performance

SWLD.L vs. VGVE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI World UCITS ETF (SWLD.L) and Vanguard FTSE Developed World UCITS ETF Distributing (VGVE.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SWLD.L is traded in GBP, while VGVE.DE is traded in EUR. To make them comparable, the VGVE.DE values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, SWLD.L achieves a 9.96% return, which is significantly lower than VGVE.DE's 11.75% return.

SWLD.L

• 1D: -0.28%
• 1M: 5.24%
• YTD: 9.96%
• 6M: 10.41%
• 1Y: 27.28%
• 3Y*: 17.98%
• 5Y*: 13.15%
• 10Y*: —

VGVE.DE

• 1D: -0.39%
• 1M: 6.39%
• YTD: 11.75%
• 6M: 12.44%
• 1Y: 29.94%
• 3Y*: 18.43%
• 5Y*: 13.13%
• 10Y*: —

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

SWLD.L vs. VGVE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SWLD.L SPDR MSCI World UCITS ETF	9.96%	12.85%	21.19%	17.70%	-8.06%	23.66%	12.00%	14.48%
VGVE.DE Vanguard FTSE Developed World UCITS ETF Distributing	11.75%	14.44%	19.47%	17.52%	-8.99%	22.12%	11.39%	15.22%

Correlation

The correlation between SWLD.L and VGVE.DE is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019	0.92

The correlation between SWLD.L and VGVE.DE has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

SWLD.L vs. VGVE.DE — Risk / Return Rank

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

SWLD.L

SWLD.L Risk / Return Rank: 81
SWLD.L Sharpe Ratio Rank: 81
SWLD.L Sortino Ratio Rank: 81
SWLD.L Omega Ratio Rank: 83
SWLD.L Calmar Ratio Rank: 79
SWLD.L Martin Ratio Rank: 82

VGVE.DE

VGVE.DE Risk / Return Rank: 76
VGVE.DE Sharpe Ratio Rank: 71
VGVE.DE Sortino Ratio Rank: 71
VGVE.DE Omega Ratio Rank: 74
VGVE.DE Calmar Ratio Rank: 81
VGVE.DE 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.

SWLD.L vs. VGVE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World UCITS ETF (SWLD.L) and Vanguard FTSE Developed World UCITS ETF Distributing (VGVE.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.

	SWLD.L	VGVE.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.77	-0.07
Sortino ratio: Return per unit of downside risk	3.70	3.80	-0.10
Omega ratio: Gain probability vs. loss probability	1.51	1.52	0.00
Calmar ratio: Return relative to maximum drawdown	4.13	4.35	-0.22
Martin ratio: Return relative to average drawdown	16.62	17.59	-0.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWLD.L vs. VGVE.DE - Sharpe Ratio Comparison

The current SWLD.L Sharpe Ratio is 2.70, which is comparable to the VGVE.DE Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of SWLD.L and VGVE.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

	SWLD.L	VGVE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.77	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	0.96	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.80	+0.12

Drawdowns

SWLD.L vs. VGVE.DE - Drawdown Comparison

The maximum SWLD.L drawdown since its inception was -25.85%, roughly equal to the maximum VGVE.DE drawdown of -26.21%. Use the drawdown chart below to compare losses from any high point for SWLD.L and VGVE.DE.

Drawdown Indicators

	SWLD.L	VGVE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-25.85%	-26.21%	+0.36%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-6.85%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-18.65%	-19.29%	+0.64%
Max Drawdown (5Y) Largest decline over 5 years	-18.65%	-19.29%	+0.64%
Current Drawdown Current decline from peak	-0.28%	-0.39%	+0.11%
Average Drawdown Average peak-to-trough decline	-3.17%	-3.43%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.70%	-0.06%

Volatility

SWLD.L vs. VGVE.DE - Volatility Comparison

The current volatility for SPDR MSCI World UCITS ETF (SWLD.L) is 2.52%, while Vanguard FTSE Developed World UCITS ETF Distributing (VGVE.DE) has a volatility of 3.30%. This indicates that SWLD.L experiences smaller price fluctuations and is considered to be less risky than VGVE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWLD.L	VGVE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	3.30%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	7.23%	7.80%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	10.11%	10.79%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	13.55%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.26%	15.18%	+0.08%

SWLD.L vs. VGVE.DE - Expense Ratio Comparison

Both SWLD.L and VGVE.DE have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SWLD.L vs. VGVE.DE - Dividend Comparison

SWLD.L has not paid dividends to shareholders, while VGVE.DE's dividend yield for the trailing twelve months is around 1.06%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWLD.L SPDR MSCI World UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VGVE.DE Vanguard FTSE Developed World UCITS ETF Distributing	1.06%	1.22%	1.36%	1.59%	1.93%	1.22%	1.40%	1.67%	1.95%	0.34%

Frequently Asked Questions

Can I hold both SWLD.L and VGVE.DE in my portfolio?

With a correlation of 0.94, SWLD.L and VGVE.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.

Which ETF is better, SWLD.L or VGVE.DE?

Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SWLD.L or VGVE.DE?

SWLD.L and VGVE.DE have the same expense ratio: 0.12% per year.

What is the main difference between SWLD.L and VGVE.DE?

SWLD.L tracks MSCI ACWI NR USD, while VGVE.DE tracks FTSE Developed. They also come from different issuers: State Street and Vanguard.