VGEM.DE vs. VWCG.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and VWCG.DE (Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating) are both exchange-traded funds - VGEM.DE is a Emerging Markets Bonds fund tracking the Bloomberg EM USD Sovereign + Quasi-Sov, while VWCG.DE is a Europe Equities fund tracking the FTSE Developed Europe. Both are passively managed. Over the past 5 years, VGEM.DE returned 2.73%/yr vs 9.96%/yr for VWCG.DE. At a 0.23 correlation, their price movements are largely independent. VGEM.DE charges 0.25%/yr vs 0.10%/yr for VWCG.DE.
Performance
VGEM.DE vs. VWCG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEM.DE achieves a 2.34% return, which is significantly lower than VWCG.DE's 7.34% 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*
- —
VWCG.DE
- 1D
- 0.57%
- 1M
- 3.14%
- YTD
- 7.34%
- 6M
- 9.89%
- 1Y
- 16.38%
- 3Y*
- 14.09%
- 5Y*
- 9.96%
- 10Y*
- —
VGEM.DE vs. VWCG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 5.82% | -3.91% | 0.86% |
VWCG.DE Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating | 7.34% | 20.45% | 8.94% | 16.07% | -9.71% | 24.74% | -2.59% | 11.39% |
Correlation
The correlation between VGEM.DE and VWCG.DE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2019 | 0.23 |
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Return for Risk
VGEM.DE vs. VWCG.DE — Risk / Return Rank
VGEM.DE
VWCG.DE
VGEM.DE vs. VWCG.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 Developed Europe UCITS ETF (EUR) Accumulating (VWCG.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 | VWCG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 1.70 | +0.46 |
| Martin ratioReturn relative to average drawdown | 5.71 | 6.40 | -0.69 |
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
| VGEM.DE | VWCG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 1.26 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.69 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.64 | -0.35 |
Drawdowns
VGEM.DE vs. VWCG.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, smaller than the maximum VWCG.DE drawdown of -35.68%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and VWCG.DE.
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Drawdown Indicators
| VGEM.DE | VWCG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -35.68% | +16.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -9.58% | +6.48% |
Max Drawdown (3Y)Largest decline over 3 years | -11.98% | -16.07% | +4.09% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -20.10% | +7.64% |
Current DrawdownCurrent decline from peak | -2.18% | -1.51% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -5.10% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.55% | -1.38% |
Volatility
VGEM.DE vs. VWCG.DE - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) is 1.18%, while Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VWCG.DE) has a volatility of 4.33%. This indicates that VGEM.DE experiences smaller price fluctuations and is considered to be less risky than VWCG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGEM.DE | VWCG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 4.33% | -3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | 10.64% | -6.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 12.91% | -6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.89% | 14.29% | -6.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 17.09% | -8.32% |
VGEM.DE vs. VWCG.DE - Expense Ratio Comparison
VGEM.DE has a 0.25% expense ratio, which is higher than VWCG.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGEM.DE vs. VWCG.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.06%, while VWCG.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% |
VWCG.DE Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating | 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 VWCG.DE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWCG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWCG.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for VGEM.DE.
VGEM.DE is categorized as Emerging Markets Bonds, while VWCG.DE is Europe Equities. VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while VWCG.DE tracks FTSE Developed Europe. Their fees differ too: 0.25% for VGEM.DE and 0.10% for VWCG.DE.
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