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VHVG.L vs. VWRD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VHVG.L vs. VWRD.L

Last updated Jun 5, 2026

VHVG.L (Vanguard FTSE Developed World UCITS ETF Acc) and VWRD.L (Vanguard FTSE All-World UCITS ETF) are both Global Equities funds from Vanguard - VHVG.L tracks the MSCI ACWI NR USD while VWRD.L tracks the FTSE All-World Index. Both are passively managed. Over the past 5 years, VHVG.L returned 13.30%/yr vs 12.45%/yr for VWRD.L. Their correlation of 0.91 suggests significant overlap in exposure. VHVG.L charges 0.12%/yr vs 0.22%/yr for VWRD.L.

Performance

VHVG.L vs. VWRD.L - Performance Comparison

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

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Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with VHVG.L having a 11.81% return and VWRD.L slightly higher at 12.08%.

VHVG.L

1D
-0.07%
1M
5.52%
YTD
11.81%
6M
12.27%
1Y
29.87%
3Y*
18.37%
5Y*
13.30%
10Y*
—

VWRD.L

1D
-0.10%
1M
5.24%
YTD
12.08%
6M
12.23%
1Y
29.86%
3Y*
18.05%
5Y*
12.45%
10Y*
13.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
VHVG.L
Vanguard FTSE Developed World UCITS ETF Acc		11.81%13.85%19.99%17.54%-8.66%23.31%12.56%1.61%
VWRD.L
Vanguard FTSE All-World UCITS ETF		12.08%13.66%19.71%16.20%-8.46%19.64%12.72%1.18%

Correlation

The correlation between VHVG.L and VWRD.L is 0.90, 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

0.90

Correlation (3Y)
Calculated over the trailing 3-year period

0.90

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2019

0.91

The correlation between VHVG.L and VWRD.L has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

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

Sectors
VHVG.L
VWRD.L

Technology

29.0%
30.2%

Financial Services

15.6%
16.1%

Industrials

11.5%
10.2%

Consumer Cyclical

9.3%
9.1%

Communication Services

9.0%
8.9%

Healthcare

8.5%
8.1%

Consumer Defensive

5.1%
4.9%

Energy

4.1%
4.3%

Basic Materials

3.4%
3.6%

Utilities

2.6%
2.9%

Real Estate

2.0%
1.6%

Technology

VHVG.L
29.0%
VWRD.L
30.2%

Financial Services

VHVG.L
15.6%
VWRD.L
16.1%

Industrials

VHVG.L
11.5%
VWRD.L
10.2%

Consumer Cyclical

VHVG.L
9.3%
VWRD.L
9.1%

Communication Services

VHVG.L
9.0%
VWRD.L
8.9%

Healthcare

VHVG.L
8.5%
VWRD.L
8.1%

Consumer Defensive

VHVG.L
5.1%
VWRD.L
4.9%

Energy

VHVG.L
4.1%
VWRD.L
4.3%

Basic Materials

VHVG.L
3.4%
VWRD.L
3.6%

Utilities

VHVG.L
2.6%
VWRD.L
2.9%

Real Estate

VHVG.L
2.0%
VWRD.L
1.6%

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Vanguard FTSE Developed World UCITS ETF Acc

Vanguard FTSE All-World UCITS ETF

Often compared with VHVG.L:
VHVG.L vs. VWCE.DEVHVG.L vs. VWRL.LVHVG.L vs. VUAA.LVHVG.L vs. SWLD.LVHVG.L vs. IWDA.LVHVG.L vs. VEAVHVG.L vs. VEUA.L
Often compared with VWRD.L:
VWRD.L vs. VWRP.LVWRD.L vs. IWDA.LVWRD.L vs. VOOVWRD.L vs. JEPQVWRD.L vs. JEPG.LVWRD.L vs. EGLN.LVWRD.L vs. SPY

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VHVG.L
VHVG.L Risk / Return Rank: 8686
Overall Rank
VHVG.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
VHVG.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
VHVG.L Omega Ratio Rank: 8888
Omega Ratio Rank
VHVG.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
VHVG.L Martin Ratio Rank: 8585
Martin Ratio Rank
VWRD.L
VWRD.L Risk / Return Rank: 7272
Overall Rank
VWRD.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
VWRD.L Sortino Ratio Rank: 7777
Sortino Ratio Rank
VWRD.L Omega Ratio Rank: 7373
Omega Ratio Rank
VWRD.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
VWRD.L Martin Ratio Rank: 7373
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.

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

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

VHVG.LVWRD.LDifference
Sharpe ratioReturn per unit of total volatility
2.90
2.51

+0.39

Sortino ratioReturn per unit of downside risk
3.99
3.46

+0.53

Omega ratioGain probability vs. loss probability

1.55

1.47

+0.08

Calmar ratioReturn relative to maximum drawdown

4.29

4.27

+0.02

Martin ratioReturn relative to average drawdown

17.65

16.46

+1.19

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VHVG.L Sharpe Ratio is 2.90, which is comparable to the VWRD.L Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of VHVG.L and VWRD.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

VHVG.LVWRD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.90

2.51

+0.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.88

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.88

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.89

0.90

-0.02

Drawdowns

VHVG.L vs. VWRD.L - Drawdown Comparison

The maximum VHVG.L drawdown since its inception was -25.41%, roughly equal to the maximum VWRD.L drawdown of -25.84%. Use the drawdown chart below to compare losses from any high point for VHVG.L and VWRD.L.

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Drawdown Indicators

VHVG.LVWRD.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.41%

-25.84%

+0.43%

Max Drawdown (1Y)

Largest decline over 1 year

-6.94%

-6.96%

+0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-17.96%

-18.11%

+0.15%

Max Drawdown (5Y)

Largest decline over 5 years

-17.96%

-18.11%

+0.15%

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.84%

—

Current Drawdown

Current decline from peak

-0.36%

-0.43%

+0.07%

Average Drawdown

Average peak-to-trough decline

-3.28%

-3.47%

+0.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.69%

1.81%

-0.12%

Volatility

VHVG.L vs. VWRD.L - Volatility Comparison

The current volatility for Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L) is 2.72%, while Vanguard FTSE All-World UCITS ETF (VWRD.L) has a volatility of 3.68%. This indicates that VHVG.L experiences smaller price fluctuations and is considered to be less risky than VWRD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VHVG.LVWRD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.72%

3.68%

-0.96%

Volatility (6M)

Calculated over the trailing 6-month period

7.53%

9.26%

-1.73%

Volatility (1Y)

Calculated over the trailing 1-year period

10.27%

11.85%

-1.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.97%

14.07%

-1.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.06%

15.29%

-0.23%

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

VHVG.L has a 0.12% expense ratio, which is lower than VWRD.L's 0.22% 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

VHVG.L vs. VWRD.L - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
VHVG.L
Vanguard FTSE Developed World UCITS ETF 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%
VWRD.L
Vanguard FTSE All-World UCITS ETF		1.24%1.38%1.52%1.69%2.05%1.48%1.47%1.88%2.29%1.82%2.04%2.07%

Frequently Asked Questions

VHVG.L and VWRD.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

VHVG.L is cheaper with a 0.12% expense ratio, compared with 0.22% for VWRD.L.

VHVG.L tracks MSCI ACWI NR USD, while VWRD.L tracks FTSE All-World Index. Their fees differ too: 0.12% for VHVG.L and 0.22% for VWRD.L.

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