VGWL.DE vs. VWCE.DE
VGWL.DE (Vanguard FTSE All-World UCITS ETF Distributing) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both Global Equities funds from Vanguard - VGWL.DE tracks the FTSE All-World while VWCE.DE tracks the FTSE All-World Index. Both are passively managed. Over the past 5 years, VGWL.DE returned 12.28%/yr vs 12.28%/yr for VWCE.DE. With a 1.00 correlation, they move nearly in lockstep. VGWL.DE charges 0.22%/yr vs 0.19%/yr for VWCE.DE.
Performance
VGWL.DE vs. VWCE.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VGWL.DE having a 12.63% return and VWCE.DE slightly higher at 12.64%.
VGWL.DE
- 1D
- -0.24%
- 1M
- 3.64%
- YTD
- 12.63%
- 6M
- 12.78%
- 1Y
- 26.26%
- 3Y*
- 17.85%
- 5Y*
- 12.28%
- 10Y*
- —
VWCE.DE
- 1D
- -0.21%
- 1M
- 3.63%
- YTD
- 12.64%
- 6M
- 12.84%
- 1Y
- 26.31%
- 3Y*
- 17.85%
- 5Y*
- 12.28%
- 10Y*
- —
VGWL.DE vs. VWCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGWL.DE Vanguard FTSE All-World UCITS ETF Distributing | 12.63% | 9.18% | 24.40% | 18.17% | -13.48% | 28.60% | 5.38% | 7.78% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 12.64% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 8.01% |
Correlation
The correlation between VGWL.DE and VWCE.DE is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2019 | 1.00 |
The correlation between VGWL.DE and VWCE.DE has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
VGWL.DE vs. VWCE.DE — Risk / Return Rank
VGWL.DE
VWCE.DE
VGWL.DE vs. VWCE.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 FTSE All-World UCITS ETF (VWCE.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 | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.43 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.99 | 4.01 | -0.02 |
| Martin ratioReturn relative to average drawdown | 16.38 | 16.55 | -0.17 |
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
| VGWL.DE | VWCE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 2.31 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.88 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.79 | -0.02 |
Drawdowns
VGWL.DE vs. VWCE.DE - Drawdown Comparison
The maximum VGWL.DE drawdown since its inception was -33.40%, roughly equal to the maximum VWCE.DE drawdown of -33.43%. Use the drawdown chart below to compare losses from any high point for VGWL.DE and VWCE.DE.
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Drawdown Indicators
| VGWL.DE | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.40% | -33.43% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -6.57% | -6.55% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -21.04% | -21.07% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | -21.07% | +0.03% |
Current DrawdownCurrent decline from peak | -0.64% | -0.66% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -4.34% | -4.69% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.59% | +0.02% |
Volatility
VGWL.DE vs. VWCE.DE - Volatility Comparison
Vanguard FTSE All-World UCITS ETF Distributing (VGWL.DE) and Vanguard FTSE All-World UCITS ETF (VWCE.DE) have volatilities of 3.02% and 3.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGWL.DE | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 3.06% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.13% | 8.18% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.29% | 11.37% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.76% | 13.75% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.51% | 16.16% | -0.65% |
VGWL.DE vs. VWCE.DE - Expense Ratio Comparison
VGWL.DE has a 0.22% expense ratio, which is higher than VWCE.DE's 0.19% 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. VWCE.DE - Dividend Comparison
VGWL.DE's dividend yield for the trailing twelve months is around 1.24%, while VWCE.DE has not paid dividends to shareholders.
| 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% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, VGWL.DE and VWCE.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.
On fees, VWCE.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWCE.DE is cheaper with a 0.19% expense ratio, compared with 0.22% for VGWL.DE.
VGWL.DE tracks FTSE All-World, while VWCE.DE tracks FTSE All-World Index. Their fees differ too: 0.22% for VGWL.DE and 0.19% for VWCE.DE.
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