VGWL.DE vs. VUSA.DE

Last updated Jun 5, 2026

VGWL.DE (Vanguard FTSE All-World UCITS ETF Distributing) and VUSA.DE (Vanguard S&P 500 UCITS ETF) are both exchange-traded funds - VGWL.DE is a Global Equities fund tracking the FTSE All-World, while VUSA.DE is a S&P 500 fund tracking the S&P 500 Net Total Return. Both are passively managed. Over the past 5 years, VGWL.DE returned 12.28%/yr vs 14.76%/yr for VUSA.DE. With a 0.96 correlation, they move nearly in lockstep. VGWL.DE charges 0.22%/yr vs 0.07%/yr for VUSA.DE.

Performance

VGWL.DE vs. VUSA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE All-World UCITS ETF Distributing (VGWL.DE) and Vanguard S&P 500 UCITS ETF (VUSA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGWL.DE achieves a 12.63% return, which is significantly higher than VUSA.DE's 11.38% return.

VGWL.DE

• 1D: -0.24%
• 1M: 3.64%
• YTD: 12.63%
• 6M: 12.78%
• 1Y: 26.26%
• 3Y*: 17.85%
• 5Y*: 12.28%
• 10Y*: —

VUSA.DE

• 1D: -0.12%
• 1M: 4.37%
• YTD: 11.38%
• 6M: 10.86%
• 1Y: 25.53%
• 3Y*: 18.87%
• 5Y*: 14.76%
• 10Y*: —

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

VGWL.DE vs. VUSA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VUSA.DE Vanguard S&P 500 UCITS ETF	11.38%	4.74%	32.32%	22.44%	-14.26%	40.76%	6.77%	34.46%	-1.12%	2.82%

Correlation

The correlation between VGWL.DE and VUSA.DE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017	0.96

The correlation between VGWL.DE and VUSA.DE has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

VGWL.DE vs. VUSA.DE — Risk / Return Rank

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

VGWL.DE

VGWL.DE Risk / Return Rank: 76
VGWL.DE Sharpe Ratio Rank: 72
VGWL.DE Sortino Ratio Rank: 73
VGWL.DE Omega Ratio Rank: 75
VGWL.DE Calmar Ratio Rank: 79
VGWL.DE Martin Ratio Rank: 82

VUSA.DE

VUSA.DE Risk / Return Rank: 69
VUSA.DE Sharpe Ratio Rank: 68
VUSA.DE Sortino Ratio Rank: 65
VUSA.DE Omega Ratio Rank: 70
VUSA.DE Calmar Ratio Rank: 72
VUSA.DE Martin Ratio Rank: 70

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.

VGWL.DE vs. VUSA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF Distributing (VGWL.DE) and Vanguard S&P 500 UCITS ETF (VUSA.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.

	VGWL.DE	VUSA.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.20	+0.12
Sortino ratio: Return per unit of downside risk	3.25	2.99	+0.26
Omega ratio: Gain probability vs. loss probability	1.44	1.41	+0.03
Calmar ratio: Return relative to maximum drawdown	3.99	3.57	+0.42
Martin ratio: Return relative to average drawdown	16.38	12.71	+3.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGWL.DE vs. VUSA.DE - Sharpe Ratio Comparison

The current VGWL.DE Sharpe Ratio is 2.32, which is comparable to the VUSA.DE Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of VGWL.DE and VUSA.DE, 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

	VGWL.DE	VUSA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	2.20	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.96	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.89	-0.12

Drawdowns

VGWL.DE vs. VUSA.DE - Drawdown Comparison

The maximum VGWL.DE drawdown since its inception was -33.40%, roughly equal to the maximum VUSA.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for VGWL.DE and VUSA.DE.

Drawdown Indicators

	VGWL.DE	VUSA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.40%	-33.63%	+0.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-7.13%	+0.56%
Max Drawdown (3Y) Largest decline over 3 years	-21.04%	-23.24%	+2.20%
Max Drawdown (5Y) Largest decline over 5 years	-21.04%	-23.24%	+2.20%
Current Drawdown Current decline from peak	-0.64%	-0.44%	-0.20%
Average Drawdown Average peak-to-trough decline	-4.34%	-4.40%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	2.01%	-0.40%

Volatility

VGWL.DE vs. VUSA.DE - Volatility Comparison

Vanguard FTSE All-World UCITS ETF Distributing (VGWL.DE) has a higher volatility of 3.02% compared to Vanguard S&P 500 UCITS ETF (VUSA.DE) at 2.68%. This indicates that VGWL.DE's price experiences larger fluctuations and is considered to be riskier than VUSA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGWL.DE	VUSA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	2.68%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	8.13%	7.59%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	11.29%	11.58%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.76%	15.17%	-1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.51%	16.77%	-1.26%

VGWL.DE vs. VUSA.DE - Expense Ratio Comparison

VGWL.DE has a 0.22% expense ratio, which is higher than VUSA.DE's 0.07% 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

VGWL.DE vs. VUSA.DE - Dividend Comparison

VGWL.DE's dividend yield for the trailing twelve months is around 1.24%, more than VUSA.DE's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VUSA.DE Vanguard S&P 500 UCITS ETF	0.87%	0.97%	1.00%	1.25%	1.45%	1.02%	1.43%	1.45%	1.74%	0.41%

Frequently Asked Questions

Can I hold both VGWL.DE and VUSA.DE in my portfolio?

With a correlation of 0.95, VGWL.DE and VUSA.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, VGWL.DE or VUSA.DE?

On fees, VUSA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VGWL.DE or VUSA.DE?

VUSA.DE is cheaper with a 0.07% expense ratio, compared with 0.22% for VGWL.DE.

What is the main difference between VGWL.DE and VUSA.DE?

VGWL.DE is categorized as Global Equities, while VUSA.DE is S&P 500. VGWL.DE tracks FTSE All-World, while VUSA.DE tracks S&P 500 Net Total Return. Their fees differ too: 0.22% for VGWL.DE and 0.07% for VUSA.DE.