VGEB.DE vs. VGWL.DE
VGEB.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) and VGWL.DE (Vanguard FTSE All-World UCITS ETF Distributing) are both exchange-traded funds - VGEB.DE is a European Government Bonds fund tracking the Bloomberg Euro Aggregate Treasury, while VGWL.DE is a Global Equities fund tracking the FTSE All-World. Both are passively managed. Over the past 5 years, VGEB.DE returned -2.17%/yr vs 12.28%/yr for VGWL.DE. At a 0.05 correlation, their price movements are largely independent. VGEB.DE charges 0.07%/yr vs 0.22%/yr for VGWL.DE.
Performance
VGEB.DE vs. VGWL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEB.DE achieves a 0.13% return, which is significantly lower than VGWL.DE's 12.63% return.
VGEB.DE
- 1D
- 0.03%
- 1M
- 0.00%
- YTD
- 0.13%
- 6M
- 0.18%
- 1Y
- 0.31%
- 3Y*
- 2.38%
- 5Y*
- -2.17%
- 10Y*
- —
VGWL.DE
- 1D
- -0.24%
- 1M
- 3.64%
- YTD
- 12.63%
- 6M
- 12.78%
- 1Y
- 26.26%
- 3Y*
- 17.85%
- 5Y*
- 12.28%
- 10Y*
- —
VGEB.DE vs. VGWL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 0.13% | 0.69% | 1.55% | 6.99% | -18.10% | -3.26% | 4.75% | 7.05% | 1.21% | -0.03% |
VGWL.DE Vanguard FTSE All-World UCITS ETF Distributing | 12.63% | 9.18% | 24.40% | 18.17% | -13.48% | 28.60% | 5.38% | 30.12% | -6.03% | 2.20% |
Correlation
The correlation between VGEB.DE and VGWL.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.05 |
Over the past year, VGEB.DE and VGWL.DE have become more correlated (0.35) than their long-term average of 0.05, meaning their price movements have been converging.
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Return for Risk
VGEB.DE vs. VGWL.DE — Risk / Return Rank
VGEB.DE
VGWL.DE
VGEB.DE vs. VGWL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.DE) and Vanguard FTSE All-World UCITS ETF Distributing (VGWL.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.
| VGEB.DE | VGWL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.25 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.44 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 3.99 | -4.02 |
| Martin ratioReturn relative to average drawdown | -0.06 | 16.38 | -16.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VGEB.DE | VGWL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 2.32 | -2.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 0.88 | -1.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.77 | -0.80 |
Drawdowns
VGEB.DE vs. VGWL.DE - Drawdown Comparison
The maximum VGEB.DE drawdown since its inception was -22.15%, smaller than the maximum VGWL.DE drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for VGEB.DE and VGWL.DE.
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Drawdown Indicators
| VGEB.DE | VGWL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.15% | -33.40% | +11.25% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -6.57% | +3.14% |
Max Drawdown (3Y)Largest decline over 3 years | -4.05% | -21.04% | +16.99% |
Max Drawdown (5Y)Largest decline over 5 years | -21.25% | -21.04% | -0.21% |
Current DrawdownCurrent decline from peak | -13.65% | -0.64% | -13.01% |
Average DrawdownAverage peak-to-trough decline | -8.83% | -4.34% | -4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 1.61% | -0.26% |
Volatility
VGEB.DE vs. VGWL.DE - Volatility Comparison
The current volatility for Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.DE) is 1.63%, while Vanguard FTSE All-World UCITS ETF Distributing (VGWL.DE) has a volatility of 3.02%. This indicates that VGEB.DE experiences smaller price fluctuations and is considered to be less risky than VGWL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGEB.DE | VGWL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 3.02% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 3.47% | 8.13% | -4.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 11.29% | -7.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 13.76% | -7.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 15.51% | -9.99% |
VGEB.DE vs. VGWL.DE - Expense Ratio Comparison
VGEB.DE has a 0.07% expense ratio, which is lower than VGWL.DE'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
VGEB.DE vs. VGWL.DE - Dividend Comparison
VGEB.DE's dividend yield for the trailing twelve months is around 2.89%, more than VGWL.DE's 1.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 2.89% | 2.88% | 2.56% | 1.96% | 0.66% | 0.08% | 0.19% | 0.74% | 0.80% | 0.09% |
VGWL.DE Vanguard FTSE All-World UCITS ETF Distributing | 1.24% | 1.42% | 1.48% | 1.73% | 2.09% | 1.43% | 1.56% | 1.87% | 2.26% | 0.37% |
Frequently Asked Questions
VGEB.DE and VGWL.DE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEB.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEB.DE is cheaper with a 0.07% expense ratio, compared with 0.22% for VGWL.DE.
VGEB.DE is categorized as European Government Bonds, while VGWL.DE is Global Equities. VGEB.DE tracks Bloomberg Euro Aggregate Treasury, while VGWL.DE tracks FTSE All-World. Their fees differ too: 0.07% for VGEB.DE and 0.22% for VGWL.DE.
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