VGEM.DE vs. VGWE.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and VGWE.DE (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc) are both exchange-traded funds - VGEM.DE is a Emerging Markets Bonds fund tracking the Bloomberg EM USD Sovereign + Quasi-Sov, while VGWE.DE is a Dividend fund tracking the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 5 years, VGEM.DE returned 2.73%/yr vs 11.47%/yr for VGWE.DE. At a 0.31 correlation, their price movements are largely independent. VGEM.DE charges 0.25%/yr vs 0.29%/yr for VGWE.DE.
Performance
VGEM.DE vs. VGWE.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VGEM.DE achieves a 2.34% return, which is significantly lower than VGWE.DE's 12.43% return.
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
VGWE.DE
- 1D
- 0.23%
- 1M
- 3.30%
- YTD
- 12.43%
- 6M
- 14.13%
- 1Y
- 24.76%
- 3Y*
- 15.83%
- 5Y*
- 11.47%
- 10Y*
- —
VGEM.DE vs. VGWE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 5.82% | -2.10% |
VGWE.DE Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc | 12.43% | 12.81% | 15.59% | 7.89% | 0.02% | 27.83% | 6.23% |
Correlation
The correlation between VGEM.DE and VGWE.DE is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.31 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VGEM.DE vs. VGWE.DE — Risk / Return Rank
VGEM.DE
VGWE.DE
VGEM.DE vs. VGWE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) and Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc (VGWE.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.
| VGEM.DE | VGWE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.47 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 4.11 | -1.95 |
| Martin ratioReturn relative to average drawdown | 5.71 | 15.82 | -10.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VGEM.DE | VGWE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 2.60 | -1.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.99 | -0.64 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 1.10 | -0.81 |
Drawdowns
VGEM.DE vs. VGWE.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, which is greater than VGWE.DE's maximum drawdown of -16.43%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and VGWE.DE.
Loading charts...
Drawdown Indicators
| VGEM.DE | VGWE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -16.43% | -3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -6.00% | +2.90% |
Max Drawdown (3Y)Largest decline over 3 years | -11.98% | -16.43% | +4.45% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -16.43% | +3.97% |
Current DrawdownCurrent decline from peak | -2.18% | -0.37% | -1.81% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -2.37% | -4.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.56% | -0.39% |
Volatility
VGEM.DE vs. VGWE.DE - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) is 1.18%, while Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc (VGWE.DE) has a volatility of 2.38%. This indicates that VGEM.DE experiences smaller price fluctuations and is considered to be less risky than VGWE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VGEM.DE | VGWE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 2.38% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | 7.18% | -3.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 9.47% | -3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.89% | 11.51% | -3.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 12.23% | -3.46% |
VGEM.DE vs. VGWE.DE - Expense Ratio Comparison
VGEM.DE has a 0.25% expense ratio, which is lower than VGWE.DE's 0.29% expense ratio.
Dividends
VGEM.DE vs. VGWE.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.06%, while VGWE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
VGWE.DE Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGEM.DE and VGWE.DE have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.DE is cheaper with a 0.25% expense ratio, compared with 0.29% for VGWE.DE.
VGEM.DE is categorized as Emerging Markets Bonds, while VGWE.DE is Dividend. VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while VGWE.DE tracks FTSE All-World High Dividend Yield Index. Their fees differ too: 0.25% for VGEM.DE and 0.29% for VGWE.DE.
Find the right allocation for VGEM.DE and VGWE.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer