VHVE.L vs. VHVG.L

Last updated Jun 5, 2026

VHVE.L (Vanguard FTSE Developed World UCITS ETF USD Acc) and VHVG.L (Vanguard FTSE Developed World UCITS ETF Acc) are both Global Equities funds from Vanguard - VHVE.L tracks the FTSE Developed while VHVG.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, VHVE.L returned 12.10%/yr vs 12.11%/yr for VHVG.L. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.

Performance

VHVE.L vs. VHVG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Developed World UCITS ETF USD Acc (VHVE.L) and Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VHVE.L is traded in USD, while VHVG.L is traded in GBP. To make them comparable, the VHVG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with VHVE.L having a 11.59% return and VHVG.L slightly lower at 11.54%.

VHVE.L

• 1D: -0.07%
• 1M: 4.47%
• YTD: 11.59%
• 6M: 12.99%
• 1Y: 28.64%
• 3Y*: 21.52%
• 5Y*: 12.10%
• 10Y*: —

VHVG.L

• 1D: -0.02%
• 1M: 4.62%
• YTD: 11.54%
• 6M: 13.10%
• 1Y: 28.63%
• 3Y*: 21.42%
• 5Y*: 12.11%
• 10Y*: —

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

VHVE.L vs. VHVG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VHVE.L Vanguard FTSE Developed World UCITS ETF USD Acc	11.59%	22.18%	17.93%	24.66%	-18.06%	21.15%	16.52%	8.50%
VHVG.L Vanguard FTSE Developed World UCITS ETF Acc	11.54%	22.44%	17.99%	23.74%	-18.23%	21.91%	16.01%	9.32%

Correlation

The correlation between VHVE.L and VHVG.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.92

The correlation between VHVE.L and VHVG.L has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

VHVE.L vs. VHVG.L - Sectors Allocation Comparison

Sectors	VHVE.L	VHVG.L
Technology	29.0%	29.0%
Financial Services	15.6%	15.6%
Industrials	11.5%	11.5%
Consumer Cyclical	9.3%	9.3%
Communication Services	9.0%	9.0%
Healthcare	8.5%	8.5%
Consumer Defensive	5.1%	5.1%
Energy	4.1%	4.1%
Basic Materials	3.4%	3.4%
Utilities	2.6%	2.6%
Real Estate	2.0%	2.0%

Return for Risk

VHVE.L vs. VHVG.L — Risk / Return Rank

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

VHVE.L

VHVE.L Risk / Return Rank: 74
VHVE.L Sharpe Ratio Rank: 73
VHVE.L Sortino Ratio Rank: 78
VHVE.L Omega Ratio Rank: 74
VHVE.L Calmar Ratio Rank: 68
VHVE.L Martin Ratio Rank: 76

VHVG.L

VHVG.L Risk / Return Rank: 86
VHVG.L Sharpe Ratio Rank: 88
VHVG.L Sortino Ratio Rank: 88
VHVG.L Omega Ratio Rank: 88
VHVG.L Calmar Ratio Rank: 82
VHVG.L Martin Ratio Rank: 85

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.

VHVE.L vs. VHVG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed World UCITS ETF USD Acc (VHVE.L) and Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L). 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.

	VHVE.L	VHVG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.46	-0.13
Sortino ratio: Return per unit of downside risk	3.47	3.61	-0.15
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	3.35	3.22	+0.13
Martin ratio: Return relative to average drawdown	14.41	14.29	+0.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VHVE.L vs. VHVG.L - Sharpe Ratio Comparison

The current VHVE.L Sharpe Ratio is 2.34, which is comparable to the VHVG.L Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of VHVE.L and VHVG.L, 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

	VHVE.L	VHVG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.46	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.80	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.87	-0.03

Drawdowns

VHVE.L vs. VHVG.L - Drawdown Comparison

The maximum VHVE.L drawdown since its inception was -33.60%, roughly equal to the maximum VHVG.L drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for VHVE.L and VHVG.L.

Drawdown Indicators

	VHVE.L	VHVG.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.60%	-33.49%	-0.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.51%	-8.84%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	-16.52%	-16.23%	-0.29%
Max Drawdown (5Y) Largest decline over 5 years	-26.08%	-26.74%	+0.66%
Current Drawdown Current decline from peak	-0.66%	-0.67%	+0.01%
Average Drawdown Average peak-to-trough decline	-5.36%	-5.38%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.00%	-0.02%

Volatility

VHVE.L vs. VHVG.L - Volatility Comparison

Vanguard FTSE Developed World UCITS ETF USD Acc (VHVE.L) has a higher volatility of 3.64% compared to Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L) at 3.20%. This indicates that VHVE.L's price experiences larger fluctuations and is considered to be riskier than VHVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHVE.L	VHVG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	3.20%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	8.86%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	11.57%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	15.06%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	17.07%	+0.44%

VHVE.L vs. VHVG.L - Expense Ratio Comparison

Both VHVE.L and VHVG.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VHVE.L vs. VHVG.L - Dividend Comparison

Neither VHVE.L nor VHVG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VHVE.L and VHVG.L in my portfolio?

With a correlation of 0.92, VHVE.L and VHVG.L 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, VHVE.L or VHVG.L?

Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VHVE.L or VHVG.L?

VHVE.L and VHVG.L have the same expense ratio: 0.12% per year.

What is the main difference between VHVE.L and VHVG.L?

VHVE.L tracks FTSE Developed, while VHVG.L tracks MSCI ACWI NR USD.