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VHVE.L vs. VWRL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VHVE.L vs. VWRL.L

Last updated Jun 5, 2026

VHVE.L (Vanguard FTSE Developed World UCITS ETF USD Acc) and VWRL.L (Vanguard FTSE All-World UCITS ETF Distributing) are both Global Equities funds from Vanguard - VHVE.L tracks the FTSE Developed while VWRL.L tracks the FTSE All-World Index. Both are passively managed. Over the past 5 years, VHVE.L returned 12.10%/yr vs 11.27%/yr for VWRL.L. Their correlation of 0.92 suggests significant overlap in exposure. VHVE.L charges 0.12%/yr vs 0.19%/yr for VWRL.L.

Performance

VHVE.L vs. VWRL.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 All-World UCITS ETF Distributing (VWRL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with VHVE.L having a 11.59% return and VWRL.L slightly higher at 11.60%.

VHVE.L

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

VWRL.L

1D
-0.01%
1M
4.43%
YTD
11.60%
6M
13.14%
1Y
28.63%
3Y*
21.01%
5Y*
11.27%
10Y*
12.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
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%
VWRL.L
Vanguard FTSE All-World UCITS ETF Distributing		11.60%22.59%17.60%21.71%-18.23%18.95%15.57%9.71%

Correlation

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

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

Sectors
VHVE.L
VWRL.L

Technology

29.0%
29.0%

Financial Services

15.6%
16.1%

Industrials

11.5%
11.0%

Consumer Cyclical

9.3%
9.4%

Communication Services

9.0%
8.8%

Healthcare

8.5%
8.0%

Consumer Defensive

5.1%
5.0%

Energy

4.1%
4.2%

Basic Materials

3.4%
3.8%

Utilities

2.6%
2.7%

Real Estate

2.0%
1.9%

Technology

VHVE.L
29.0%
VWRL.L
29.0%

Financial Services

VHVE.L
15.6%
VWRL.L
16.1%

Industrials

VHVE.L
11.5%
VWRL.L
11.0%

Consumer Cyclical

VHVE.L
9.3%
VWRL.L
9.4%

Communication Services

VHVE.L
9.0%
VWRL.L
8.8%

Healthcare

VHVE.L
8.5%
VWRL.L
8.0%

Consumer Defensive

VHVE.L
5.1%
VWRL.L
5.0%

Energy

VHVE.L
4.1%
VWRL.L
4.2%

Basic Materials

VHVE.L
3.4%
VWRL.L
3.8%

Utilities

VHVE.L
2.6%
VWRL.L
2.7%

Real Estate

VHVE.L
2.0%
VWRL.L
1.9%

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Vanguard FTSE Developed World UCITS ETF USD Acc

Vanguard FTSE All-World UCITS ETF Distributing

Often compared with VHVE.L:
VHVE.L vs. IWDA.LVHVE.L vs. VOOVHVE.L vs. SWRD.ASVHVE.L vs. ETLX.DEVHVE.L vs. VTVHVE.L vs. CNDX.LVHVE.L vs. SPYL.DE
Often compared with VWRL.L:
VWRL.L vs. ACWIVWRL.L vs. VHYL.ASVWRL.L vs. VHVG.LVWRL.L vs. VUSA.LVWRL.L vs. VOOVWRL.L vs. VHYG.LVWRL.L vs. VEVE.L

Return for Risk

VHVE.L vs. VWRL.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: 7474
Overall Rank
VHVE.L Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
VHVE.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
VHVE.L Omega Ratio Rank: 7474
Omega Ratio Rank
VHVE.L Calmar Ratio Rank: 6868
Calmar Ratio Rank
VHVE.L Martin Ratio Rank: 7676
Martin Ratio Rank
VWRL.L
VWRL.L Risk / Return Rank: 8686
Overall Rank
VWRL.L Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
VWRL.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
VWRL.L Omega Ratio Rank: 8989
Omega Ratio Rank
VWRL.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
VWRL.L Martin Ratio Rank: 8484
Martin Ratio Rank
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. VWRL.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 All-World UCITS ETF Distributing (VWRL.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.LVWRL.LDifference
Sharpe ratioReturn per unit of total volatility
2.34
2.43

-0.09

Sortino ratioReturn per unit of downside risk
3.47
3.55

-0.09

Omega ratioGain probability vs. loss probability

1.43

1.44

-0.01

Calmar ratioReturn relative to maximum drawdown

3.35

3.13

+0.22

Martin ratioReturn relative to average drawdown

14.41

13.67

+0.74

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. VWRL.L - Sharpe Ratio Comparison

The current VHVE.L Sharpe Ratio is 2.34, which is comparable to the VWRL.L Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of VHVE.L and VWRL.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.

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Sharpe Ratios by Period

VHVE.LVWRL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.34

2.43

-0.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.78

0.75

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.81

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.85

0.81

+0.04

Drawdowns

VHVE.L vs. VWRL.L - Drawdown Comparison

The maximum VHVE.L drawdown since its inception was -33.60%, roughly equal to the maximum VWRL.L drawdown of -33.11%. Use the drawdown chart below to compare losses from any high point for VHVE.L and VWRL.L.

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Drawdown Indicators

VHVE.LVWRL.LDifference

Max Drawdown

Largest peak-to-trough decline

-33.60%

-33.11%

-0.49%

Max Drawdown (1Y)

Largest decline over 1 year

-8.51%

-9.11%

+0.60%

Max Drawdown (3Y)

Largest decline over 3 years

-16.52%

-16.28%

-0.24%

Max Drawdown (5Y)

Largest decline over 5 years

-26.08%

-26.74%

+0.66%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.11%

—

Current Drawdown

Current decline from peak

-0.66%

-0.80%

+0.14%

Average Drawdown

Average peak-to-trough decline

-5.36%

-4.52%

-0.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

2.09%

-0.11%

Volatility

VHVE.L vs. VWRL.L - Volatility Comparison

Vanguard FTSE Developed World UCITS ETF USD Acc (VHVE.L) has a higher volatility of 3.64% compared to Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L) at 3.46%. This indicates that VHVE.L's price experiences larger fluctuations and is considered to be riskier than VWRL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VHVE.LVWRL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.64%

3.46%

+0.18%

Volatility (6M)

Calculated over the trailing 6-month period

9.55%

9.10%

+0.45%

Volatility (1Y)

Calculated over the trailing 1-year period

12.20%

11.75%

+0.45%

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%

15.55%

+1.96%

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

VHVE.L has a 0.12% expense ratio, which is lower than VWRL.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VHVE.L vs. VWRL.L - Dividend Comparison

VHVE.L has not paid dividends to shareholders, while VWRL.L's dividend yield for the trailing twelve months is around 1.24%.

PositionTTM20252024202320222021202020192018201720162015
VHVE.L
Vanguard FTSE Developed World UCITS ETF USD Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VWRL.L
Vanguard FTSE All-World UCITS ETF Distributing		1.24%1.39%1.49%1.72%2.03%1.45%1.58%1.95%2.22%1.90%1.85%2.00%

Frequently Asked Questions

With a correlation of 0.92, VHVE.L and VWRL.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.

On fees, VHVE.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VHVE.L is cheaper with a 0.12% expense ratio, compared with 0.19% for VWRL.L.

VHVE.L tracks FTSE Developed, while VWRL.L tracks FTSE All-World Index. Their fees differ too: 0.12% for VHVE.L and 0.19% for VWRL.L.

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