VEUD.L vs. VWRD.L

Last updated Jun 5, 2026

VEUD.L (Vanguard FTSE Developed Europe UCITS ETF) and VWRD.L (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 VWRD.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 10 years, VEUD.L returned 9.45%/yr vs 12.64%/yr for VWRD.L. Their correlation of 0.86 suggests significant overlap in exposure. VEUD.L charges 0.10%/yr vs 0.22%/yr for VWRD.L.

Performance

VEUD.L vs. VWRD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Developed Europe UCITS ETF (VEUD.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, VEUD.L achieves a 6.29% return, which is significantly lower than VWRD.L's 11.63% return. Over the past 10 years, VEUD.L has underperformed VWRD.L with an annualized return of 9.45%, while VWRD.L has yielded a comparatively higher 12.64% annualized return.

VEUD.L

• 1D: 0.54%
• 1M: -0.39%
• YTD: 6.29%
• 6M: 9.66%
• 1Y: 17.72%
• 3Y*: 17.15%
• 5Y*: 8.92%
• 10Y*: 9.45%

VWRD.L

• 1D: -0.10%
• 1M: 2.47%
• YTD: 11.63%
• 6M: 12.71%
• 1Y: 28.23%
• 3Y*: 21.10%
• 5Y*: 11.25%
• 10Y*: 12.64%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEUD.L Vanguard FTSE Developed Europe UCITS ETF	6.29%	35.25%	2.71%	20.11%	-14.44%	15.42%	6.42%	23.60%	-14.57%	26.79%
VWRD.L Vanguard FTSE All-World UCITS ETF	11.63%	22.38%	17.65%	22.31%	-18.19%	18.52%	16.13%	25.67%	-9.70%	24.36%

Correlation

The correlation between VEUD.L and VWRD.L is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 29, 2016	0.86

The correlation between VEUD.L and VWRD.L has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

VEUD.L vs. VWRD.L - Sectors Allocation Comparison

Sectors	VEUD.L	VWRD.L
Financial Services	24.0%	16.1%
Industrials	19.7%	10.2%
Healthcare	12.9%	8.1%
Technology	8.5%	30.2%
Consumer Defensive	8.3%	4.9%
Consumer Cyclical	6.6%	9.1%
Basic Materials	5.6%	3.6%
Energy	5.3%	4.3%
Utilities	5.0%	2.9%
Communication Services	3.0%	8.9%
Real Estate	1.1%	1.6%

Return for Risk

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

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

VEUD.L

VEUD.L Risk / Return Rank: 34
VEUD.L Sharpe Ratio Rank: 34
VEUD.L Sortino Ratio Rank: 34
VEUD.L Omega Ratio Rank: 34
VEUD.L Calmar Ratio Rank: 32
VEUD.L Martin Ratio Rank: 37

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.

VEUD.L vs. VWRD.L - 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 (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.

	VEUD.L	VWRD.L	Difference
Sharpe ratio: Return per unit of total volatility	1.19	2.30	-1.11
Sortino ratio: Return per unit of downside risk	1.76	3.40	-1.64
Omega ratio: Gain probability vs. loss probability	1.22	1.43	-0.20
Calmar ratio: Return relative to maximum drawdown	1.57	3.24	-1.67
Martin ratio: Return relative to average drawdown	5.56	13.61	-8.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VEUD.L Sharpe Ratio is 1.19, which is lower than the VWRD.L Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of VEUD.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

	VEUD.L	VWRD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	2.30	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.73	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.80	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.82	-0.30

Drawdowns

VEUD.L vs. VWRD.L - Drawdown Comparison

The maximum VEUD.L drawdown since its inception was -36.05%, which is greater than VWRD.L's maximum drawdown of -33.83%. Use the drawdown chart below to compare losses from any high point for VEUD.L and VWRD.L.

Drawdown Indicators

	VEUD.L	VWRD.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.05%	-33.83%	-2.22%
Max Drawdown (1Y) Largest decline over 1 year	-11.57%	-8.80%	-2.77%
Max Drawdown (3Y) Largest decline over 3 years	-14.30%	-16.25%	+1.95%
Max Drawdown (5Y) Largest decline over 5 years	-31.31%	-26.02%	-5.29%
Max Drawdown (10Y) Largest decline over 10 years	-36.05%	-33.83%	-2.22%
Current Drawdown Current decline from peak	-1.76%	-0.78%	-0.98%
Average Drawdown Average peak-to-trough decline	-6.33%	-4.62%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	2.10%	+1.16%

Volatility

VEUD.L vs. VWRD.L - Volatility Comparison

Vanguard FTSE Developed Europe UCITS ETF (VEUD.L) has a higher volatility of 5.19% compared to Vanguard FTSE All-World UCITS ETF (VWRD.L) at 3.88%. This indicates that VEUD.L's price experiences larger fluctuations and is considered to be riskier than VWRD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEUD.L	VWRD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	3.88%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	12.70%	9.80%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	15.22%	12.39%	+2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.79%	15.32%	+2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.92%	15.72%	+2.20%

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

VEUD.L has a 0.10% 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

VEUD.L vs. VWRD.L - Dividend Comparison

VEUD.L's dividend yield for the trailing twelve months is around 2.59%, more than VWRD.L's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEUD.L Vanguard FTSE Developed Europe UCITS ETF	2.59%	2.73%	3.17%	2.93%	3.25%	2.77%	2.10%	3.25%	3.70%	2.86%	2.79%	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 VEUD.L and VWRD.L in my portfolio?

VEUD.L and VWRD.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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.

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

VEUD.L is cheaper with a 0.10% expense ratio, compared with 0.22% for VWRD.L.

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

VEUD.L is categorized as Foreign Large Cap Equities, while VWRD.L is Global Equities. VEUD.L tracks FTSE Developed Europe Index, while VWRD.L tracks FTSE All-World Index. Their fees differ too: 0.10% for VEUD.L and 0.22% for VWRD.L.