V3EL.L vs. VUKG.L

Last updated Jun 5, 2026

V3EL.L (Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing) and VUKG.L (Vanguard FTSE 100 UCITS ETF (GBP) Accumulating) are both Europe Equities funds from Vanguard - V3EL.L tracks the FTSE Developed Europe All Cap Choice Index while VUKG.L tracks the FTSE AllSh TR GBP. Both are passively managed. Over the past 3 years, V3EL.L returned 12.59%/yr vs 14.77%/yr for VUKG.L. A 0.77 correlation means they provide meaningful diversification when combined. V3EL.L charges 0.12%/yr vs 0.09%/yr for VUKG.L.

Performance

V3EL.L vs. VUKG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing (V3EL.L) and Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, V3EL.L achieves a 4.68% return, which is significantly lower than VUKG.L's 5.56% return.

V3EL.L

• 1D: 0.76%
• 1M: 4.49%
• YTD: 4.68%
• 6M: 7.25%
• 1Y: 15.45%
• 3Y*: 12.59%
• 5Y*: —
• 10Y*: —

VUKG.L

• 1D: 0.38%
• 1M: 1.75%
• YTD: 5.56%
• 6M: 8.02%
• 1Y: 21.09%
• 3Y*: 14.77%
• 5Y*: 11.75%
• 10Y*: —

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

V3EL.L vs. VUKG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
V3EL.L Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing	4.68%	23.27%	4.39%	13.76%	0.75%
VUKG.L Vanguard FTSE 100 UCITS ETF (GBP) Accumulating	5.56%	26.12%	9.40%	7.20%	-0.01%

Correlation

The correlation between V3EL.L and VUKG.L is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Aug 19, 2022	0.77

The correlation between V3EL.L and VUKG.L has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.

Return for Risk

V3EL.L vs. VUKG.L — Risk / Return Rank

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

V3EL.L

V3EL.L Risk / Return Rank: 32
V3EL.L Sharpe Ratio Rank: 34
V3EL.L Sortino Ratio Rank: 34
V3EL.L Omega Ratio Rank: 35
V3EL.L Calmar Ratio Rank: 28
V3EL.L Martin Ratio Rank: 32

VUKG.L

VUKG.L Risk / Return Rank: 56
VUKG.L Sharpe Ratio Rank: 59
VUKG.L Sortino Ratio Rank: 59
VUKG.L Omega Ratio Rank: 62
VUKG.L Calmar Ratio Rank: 49
VUKG.L Martin Ratio Rank: 48

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.

V3EL.L vs. VUKG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing (V3EL.L) and Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.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.

	V3EL.L	VUKG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.95	-0.76
Sortino ratio: Return per unit of downside risk	1.74	2.75	-1.00
Omega ratio: Gain probability vs. loss probability	1.23	1.37	-0.14
Calmar ratio: Return relative to maximum drawdown	1.33	2.40	-1.07
Martin ratio: Return relative to average drawdown	4.64	7.96	-3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

V3EL.L vs. VUKG.L - Sharpe Ratio Comparison

The current V3EL.L Sharpe Ratio is 1.20, which is lower than the VUKG.L Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of V3EL.L and VUKG.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.

Sharpe Ratios by Period

	V3EL.L	VUKG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	1.95	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.56	+0.36

Drawdowns

V3EL.L vs. VUKG.L - Drawdown Comparison

The maximum V3EL.L drawdown since its inception was -12.74%, smaller than the maximum VUKG.L drawdown of -34.32%. Use the drawdown chart below to compare losses from any high point for V3EL.L and VUKG.L.

Drawdown Indicators

	V3EL.L	VUKG.L	Difference
Max Drawdown Largest peak-to-trough decline	-12.74%	-34.32%	+21.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.57%	-8.74%	-2.83%
Max Drawdown (3Y) Largest decline over 3 years	-12.74%	-13.03%	+0.29%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.03%	—
Current Drawdown Current decline from peak	-1.31%	-4.16%	+2.85%
Average Drawdown Average peak-to-trough decline	-2.48%	-4.73%	+2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	2.64%	+0.68%

Volatility

V3EL.L vs. VUKG.L - Volatility Comparison

Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing (V3EL.L) has a higher volatility of 4.13% compared to Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.L) at 3.86%. This indicates that V3EL.L's price experiences larger fluctuations and is considered to be riskier than VUKG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V3EL.L	VUKG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	3.86%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	10.80%	9.35%	+1.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	10.74%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.16%	12.75%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.16%	16.13%	-2.97%

V3EL.L vs. VUKG.L - Expense Ratio Comparison

V3EL.L has a 0.12% expense ratio, which is higher than VUKG.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

V3EL.L vs. VUKG.L - Dividend Comparison

V3EL.L's dividend yield for the trailing twelve months is around 2.52%, while VUKG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
V3EL.L Vanguard ESG Developed Europe All Cap UCITS ETF EUR Distributing	2.52%	2.63%	2.87%	2.61%	0.37%
VUKG.L Vanguard FTSE 100 UCITS ETF (GBP) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both V3EL.L and VUKG.L in my portfolio?

V3EL.L and VUKG.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, V3EL.L or VUKG.L?

On fees, VUKG.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, V3EL.L or VUKG.L?

VUKG.L is cheaper with a 0.09% expense ratio, compared with 0.12% for V3EL.L.

What is the main difference between V3EL.L and VUKG.L?

V3EL.L tracks FTSE Developed Europe All Cap Choice Index, while VUKG.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.12% for V3EL.L and 0.09% for VUKG.L.