V3GD.L vs. VWRD.L

Last updated Jun 5, 2026

V3GD.L (Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing) and VWRD.L (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - V3GD.L is a Global Corporate Bonds fund tracking the Bloomberg Gbl Agg Corp 0901 TR Hdg USD, while VWRD.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, V3GD.L returned 1.07%/yr vs 11.25%/yr for VWRD.L. At a 0.30 correlation, their price movements are largely independent. V3GD.L charges 0.15%/yr vs 0.22%/yr for VWRD.L.

Performance

V3GD.L vs. VWRD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) and Vanguard FTSE All-World UCITS ETF (VWRD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, V3GD.L achieves a 0.61% return, which is significantly lower than VWRD.L's 11.63% return.

V3GD.L

• 1D: 0.21%
• 1M: 0.73%
• YTD: 0.61%
• 6M: 0.81%
• 1Y: 4.54%
• 3Y*: 5.67%
• 5Y*: 1.07%
• 10Y*: —

VWRD.L

• 1D: -0.10%
• 1M: 4.28%
• YTD: 11.63%
• 6M: 13.01%
• 1Y: 28.61%
• 3Y*: 21.10%
• 5Y*: 11.25%
• 10Y*: 12.64%

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

V3GD.L vs. VWRD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing	0.61%	6.28%	3.93%	8.62%	-13.27%	1.15%
VWRD.L Vanguard FTSE All-World UCITS ETF	11.63%	22.38%	17.65%	22.31%	-18.19%	7.32%

Correlation

The correlation between V3GD.L and VWRD.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.30

Over the past year, V3GD.L and VWRD.L have become more correlated (0.51) than their long-term average of 0.30, meaning their price movements have been converging.

Return for Risk

V3GD.L vs. VWRD.L — Risk / Return Rank

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

V3GD.L

V3GD.L Risk / Return Rank: 36
V3GD.L Sharpe Ratio Rank: 35
V3GD.L Sortino Ratio Rank: 35
V3GD.L Omega Ratio Rank: 33
V3GD.L Calmar Ratio Rank: 36
V3GD.L Martin Ratio Rank: 39

VWRD.L

VWRD.L Risk / Return Rank: 72
VWRD.L Sharpe Ratio Rank: 72
VWRD.L Sortino Ratio Rank: 77
VWRD.L Omega Ratio Rank: 73
VWRD.L Calmar Ratio Rank: 66
VWRD.L Martin Ratio Rank: 73

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.

V3GD.L vs. VWRD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) and Vanguard FTSE All-World UCITS ETF (VWRD.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.

	V3GD.L	VWRD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.23	2.30	-1.07
Sortino ratio: Return per unit of downside risk	1.82	3.40	-1.58
Omega ratio: Gain probability vs. loss probability	1.22	1.43	-0.21
Calmar ratio: Return relative to maximum drawdown	1.78	3.24	-1.46
Martin ratio: Return relative to average drawdown	5.96	13.61	-7.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

V3GD.L vs. VWRD.L - Sharpe Ratio Comparison

The current V3GD.L Sharpe Ratio is 1.23, which is lower than the VWRD.L Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of V3GD.L and VWRD.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

	V3GD.L	VWRD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	2.30	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.73	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.82	-0.61

Drawdowns

V3GD.L vs. VWRD.L - Drawdown Comparison

The maximum V3GD.L drawdown since its inception was -19.16%, smaller than the maximum VWRD.L drawdown of -33.83%. Use the drawdown chart below to compare losses from any high point for V3GD.L and VWRD.L.

Drawdown Indicators

	V3GD.L	VWRD.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-33.83%	+14.67%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-8.80%	+6.26%
Max Drawdown (3Y) Largest decline over 3 years	-3.65%	-16.25%	+12.60%
Max Drawdown (5Y) Largest decline over 5 years	-19.16%	-26.02%	+6.86%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.83%	—
Current Drawdown Current decline from peak	-0.59%	-0.78%	+0.19%
Average Drawdown Average peak-to-trough decline	-6.40%	-4.62%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	2.10%	-1.34%

Volatility

V3GD.L vs. VWRD.L - Volatility Comparison

The current volatility for Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) is 1.47%, while Vanguard FTSE All-World UCITS ETF (VWRD.L) has a volatility of 3.88%. This indicates that V3GD.L experiences smaller price fluctuations and is considered to be less risky than VWRD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V3GD.L	VWRD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	3.88%	-2.41%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	9.80%	-6.95%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	12.39%	-8.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.49%	15.32%	-9.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	15.72%	-10.24%

V3GD.L vs. VWRD.L - Expense Ratio Comparison

V3GD.L has a 0.15% expense ratio, which is lower than VWRD.L's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

V3GD.L vs. VWRD.L - Dividend Comparison

V3GD.L's dividend yield for the trailing twelve months is around 4.37%, more than VWRD.L's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing	4.37%	4.45%	4.35%	4.05%	2.44%	0.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VWRD.L Vanguard FTSE All-World UCITS ETF	1.24%	1.38%	1.52%	1.69%	2.05%	1.48%	1.47%	1.88%	2.29%	1.82%	2.04%	2.07%

Frequently Asked Questions

Can I hold both V3GD.L and VWRD.L in my portfolio?

V3GD.L and VWRD.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, V3GD.L or VWRD.L?

On fees, V3GD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, V3GD.L or VWRD.L?

V3GD.L is cheaper with a 0.15% expense ratio, compared with 0.22% for VWRD.L.

What is the main difference between V3GD.L and VWRD.L?

V3GD.L is categorized as Global Corporate Bonds, while VWRD.L is Global Equities. V3GD.L tracks Bloomberg Gbl Agg Corp 0901 TR Hdg USD, while VWRD.L tracks FTSE All-World Index. Their fees differ too: 0.15% for V3GD.L and 0.22% for VWRD.L.