VEUD.L vs. VWCE.DE
VEUD.L (Vanguard FTSE Developed Europe UCITS ETF) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - VEUD.L is a Foreign Large Cap Equities fund tracking the FTSE Developed Europe Index, while VWCE.DE is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, VEUD.L returned 9.15%/yr vs 10.66%/yr for VWCE.DE. A 0.79 correlation means they provide meaningful diversification when combined. VEUD.L charges 0.10%/yr vs 0.19%/yr for VWCE.DE.
Performance
VEUD.L vs. VWCE.DE - Performance Comparison
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Different Trading Currencies
VEUD.L is traded in USD, while VWCE.DE is traded in EUR. To make them comparable, the VWCE.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VEUD.L achieves a 6.97% return, which is significantly lower than VWCE.DE's 9.23% return.
VEUD.L
- 1D
- 0.91%
- 1M
- 0.15%
- YTD
- 6.97%
- 6M
- 6.99%
- 1Y
- 19.96%
- 3Y*
- 17.23%
- 5Y*
- 9.15%
- 10Y*
- 10.98%
VWCE.DE
- 1D
- -0.31%
- 1M
- -1.32%
- YTD
- 9.23%
- 6M
- 9.26%
- 1Y
- 24.00%
- 3Y*
- 19.99%
- 5Y*
- 10.66%
- 10Y*
- —
VEUD.L vs. VWCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VEUD.L Vanguard FTSE Developed Europe UCITS ETF | 6.97% | 35.26% | 2.70% | 20.11% | -14.44% | 15.43% | 6.41% | 7.38% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 9.23% | 23.23% | 17.30% | 21.91% | -18.24% | 18.47% | 15.65% | 7.58% |
Correlation
The correlation between VEUD.L and VWCE.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.79 |
The correlation between VEUD.L and VWCE.DE has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.
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Return for Risk
VEUD.L vs. VWCE.DE — Risk / Return Rank
VEUD.L
VWCE.DE
VEUD.L vs. VWCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF (VEUD.L) and Vanguard FTSE All-World UCITS ETF (VWCE.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.
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.
| VEUD.L | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 2.68 | -0.96 |
| Martin ratioReturn relative to average drawdown | 6.08 | 11.09 | -5.01 |
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Drawdowns
VEUD.L vs. VWCE.DE - Drawdown Comparison
The maximum VEUD.L drawdown since its inception was -36.05%, which is greater than VWCE.DE's maximum drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for VEUD.L and VWCE.DE.
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Drawdown Indicators
| VEUD.L | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.05% | -33.91% | -2.14% |
Max Drawdown (1Y)Largest decline over 1 year | -11.56% | -8.91% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -14.29% | -17.27% | +2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -31.29% | -26.11% | -5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -36.05% | — | — |
Current DrawdownCurrent decline from peak | -1.63% | -2.69% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -6.46% | -5.41% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 2.16% | +1.11% |
Volatility
VEUD.L vs. VWCE.DE - Volatility Comparison
Vanguard FTSE Developed Europe UCITS ETF (VEUD.L) and Vanguard FTSE All-World UCITS ETF (VWCE.DE) have volatilities of 3.92% and 3.92%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEUD.L | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.92% | 3.92% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 12.98% | 9.73% | +3.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.27% | 12.51% | +2.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.79% | 15.35% | +2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.56% | 17.31% | +0.25% |
VEUD.L vs. VWCE.DE - Expense Ratio Comparison
VEUD.L has a 0.10% expense ratio, which is lower than VWCE.DE's 0.19% 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
VEUD.L vs. VWCE.DE - Dividend Comparison
VEUD.L's dividend yield for the trailing twelve months is around 2.65%, while VWCE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
VEUD.L Vanguard FTSE Developed Europe UCITS ETF | 2.65% | 2.73% | 3.16% | 2.93% | 3.26% | 2.77% | 2.10% | 3.25% | 3.70% | 2.86% | 2.79% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VEUD.L and VWCE.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEUD.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEUD.L is cheaper with a 0.10% expense ratio, compared with 0.19% for VWCE.DE.
VEUD.L is categorized as Foreign Large Cap Equities, while VWCE.DE is Global Equities. VEUD.L tracks FTSE Developed Europe Index, while VWCE.DE tracks FTSE All-World Index. Their fees differ too: 0.10% for VEUD.L and 0.19% for VWCE.DE.
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