USRD vs. VHYG.L

Last updated Jun 12, 2026

USRD (Themes US R&D Champions ETF) and VHYG.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF) are both exchange-traded funds - USRD is a Large Cap Blend Equities fund tracking the Solactive US R&D Champions Index, while VHYG.L is a Global Equities fund tracking the MSCI World High Dividend Yield NR USD. Both are passively managed. Over the past year, USRD returned 21.33% vs 25.29% for VHYG.L. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.29% expense ratio.

Performance

USRD vs. VHYG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes US R&D Champions ETF (USRD) and Vanguard FTSE All-World High Dividend Yield UCITS ETF (VHYG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, USRD achieves a 12.31% return, which is significantly higher than VHYG.L's 10.74% return.

USRD

• 1D: 1.76%
• 1M: 4.18%
• YTD: 12.31%
• 6M: 9.99%
• 1Y: 21.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VHYG.L

• 1D: 0.82%
• 1M: 1.61%
• YTD: 10.74%
• 6M: 12.56%
• 1Y: 25.29%
• 3Y*: 18.42%
• 5Y*: 10.41%
• 10Y*: —

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

USRD vs. VHYG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USRD Themes US R&D Champions ETF	12.31%	12.44%	15.53%	5.32%
VHYG.L Vanguard FTSE All-World High Dividend Yield UCITS ETF	10.74%	27.30%	9.13%	3.81%

Correlation

The correlation between USRD and VHYG.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023	0.41

USRD vs. VHYG.L - Sectors Allocation Comparison

Sectors	USRD	VHYG.L
Technology	58.5%	7.7%
Healthcare	14.4%	11.2%
Industrials	9.3%	12.3%
Communication Services	7.2%	3.5%
Consumer Cyclical	5.4%	7.0%
Basic Materials	2.1%	5.1%
Consumer Defensive	1.9%	8.7%
Real Estate	1.1%	0.9%
Energy	-	9.4%
Financial Services	-	28.6%
Utilities	-	5.7%

Return for Risk

USRD vs. VHYG.L — Risk / Return Rank

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

USRD

USRD Risk / Return Rank: 37
USRD Sharpe Ratio Rank: 39
USRD Sortino Ratio Rank: 37
USRD Omega Ratio Rank: 37
USRD Calmar Ratio Rank: 37
USRD Martin Ratio Rank: 36

VHYG.L

VHYG.L Risk / Return Rank: 89
VHYG.L Sharpe Ratio Rank: 93
VHYG.L Sortino Ratio Rank: 92
VHYG.L Omega Ratio Rank: 92
VHYG.L Calmar Ratio Rank: 84
VHYG.L Martin Ratio Rank: 82

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.

USRD vs. VHYG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes US R&D Champions ETF (USRD) and Vanguard FTSE All-World High Dividend Yield UCITS ETF (VHYG.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	USRD	VHYG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.21	2.38	-1.17
Sortino ratio: Return per unit of downside risk	1.72	3.31	-1.59
Omega ratio: Gain probability vs. loss probability	1.22	1.42	-0.20
Calmar ratio: Return relative to maximum drawdown	1.59	3.21	-1.63
Martin ratio: Return relative to average drawdown	4.81	11.27	-6.46

USRD vs. VHYG.L - Sharpe Ratio Comparison

The current USRD Sharpe Ratio is 1.21, which is lower than the VHYG.L Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of USRD and VHYG.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.

Drawdowns

USRD vs. VHYG.L - Drawdown Comparison

The maximum USRD drawdown since its inception was -23.79%, smaller than the maximum VHYG.L drawdown of -44.36%. Use the drawdown chart below to compare losses from any high point for USRD and VHYG.L.

Drawdown Indicators

	USRD	VHYG.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.79%	-44.36%	+20.57%
Max Drawdown (1Y) Largest decline over 1 year	-13.49%	-7.83%	-5.66%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.65%	—
Current Drawdown Current decline from peak	-7.42%	-0.54%	-6.88%
Average Drawdown Average peak-to-trough decline	-3.71%	-8.81%	+5.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.45%	2.23%	+2.22%

Volatility

USRD vs. VHYG.L - Volatility Comparison

Themes US R&D Champions ETF (USRD) has a higher volatility of 8.08% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF (VHYG.L) at 2.43%. This indicates that USRD's price experiences larger fluctuations and is considered to be riskier than VHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USRD	VHYG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.08%	2.43%	+5.65%
Volatility (6M) Calculated over the trailing 6-month period	14.50%	8.31%	+6.19%
Volatility (1Y) Calculated over the trailing 1-year period	17.70%	10.59%	+7.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.49%	19.14%	+0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.49%	21.37%	-1.88%

USRD vs. VHYG.L - Expense Ratio Comparison

Both USRD and VHYG.L have an expense ratio of 0.29%.

Dividends

USRD vs. VHYG.L - Dividend Comparison

USRD's dividend yield for the trailing twelve months is around 0.38%, while VHYG.L has not paid dividends to shareholders.

Position	TTM	2025	2024
USRD Themes US R&D Champions ETF	0.38%	0.42%	2.44%
VHYG.L Vanguard FTSE All-World High Dividend Yield UCITS ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USRD and VHYG.L in my portfolio?

USRD and VHYG.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USRD or VHYG.L?

Both ETFs have the same 0.29% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USRD or VHYG.L?

USRD and VHYG.L have the same expense ratio: 0.29% per year.

What is the main difference between USRD and VHYG.L?

USRD is categorized as Large Cap Blend Equities, while VHYG.L is Global Equities. USRD tracks Solactive US R&D Champions Index, while VHYG.L tracks MSCI World High Dividend Yield NR USD. They also come from different issuers: Themes and Vanguard.