VHYD.L vs. UINC.L

Last updated Jul 16, 2026

VHYD.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) and UINC.L (First Trust US Equity Income UCITS ETF) are both Dividend funds - VHYD.L tracks the FTSE All-World High Dividend Yield Index while UINC.L tracks the First Trust US Equity Income UCITS ETF. Both are passively managed. Over the past 10 years, VHYD.L returned 9.93%/yr vs 10.27%/yr for UINC.L. A 0.69 correlation means they provide meaningful diversification when combined.

Performance

VHYD.L vs. UINC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) and First Trust US Equity Income UCITS ETF (UINC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VHYD.L is traded in USD, while UINC.L is traded in GBp. To make them comparable, the UINC.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VHYD.L achieves a 13.13% return, which is significantly lower than UINC.L's 17.86% return. Both investments have delivered pretty close results over the past 10 years, with VHYD.L having a 9.93% annualized return and UINC.L not far ahead at 10.27%.

VHYD.L

• 1D: -0.09%
• 1M: 0.49%
• 6M: 10.34%
• YTD: 13.13%
• 1Y: 26.60%
• 3Y*: 18.09%
• 5Y*: 11.49%
• 10Y*: 9.93%

UINC.L

• 1D: 0.00%
• 1M: 2.67%
• 6M: 14.67%
• YTD: 17.86%
• 1Y: 24.20%
• 3Y*: 15.83%
• 5Y*: 9.87%
• 10Y*: 10.27%

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

VHYD.L vs. UINC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	13.13%	27.03%	9.32%	11.43%	-5.45%	17.84%	-0.31%	20.75%	-11.71%	19.33%
UINC.L First Trust US Equity Income UCITS ETF	17.86%	7.56%	6.68%	16.63%	-6.91%	33.71%	0.21%	17.10%	-8.88%	15.05%

Correlation

The correlation between VHYD.L and UINC.L is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 14, 2016	0.69

The correlation between VHYD.L and UINC.L shifts across timeframes, from 0.50 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VHYD.L vs. UINC.L — Risk / Return Rank

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

VHYD.L

VHYD.L Risk / Return Rank: 87
VHYD.L Sharpe Ratio Rank: 91
VHYD.L Sortino Ratio Rank: 92
VHYD.L Omega Ratio Rank: 90
VHYD.L Calmar Ratio Rank: 81
VHYD.L Martin Ratio Rank: 81

UINC.L

UINC.L Risk / Return Rank: 81
UINC.L Sharpe Ratio Rank: 77
UINC.L Sortino Ratio Rank: 79
UINC.L Omega Ratio Rank: 71
UINC.L Calmar Ratio Rank: 92
UINC.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.

VHYD.L vs. UINC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) and First Trust US Equity Income UCITS ETF (UINC.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VHYD.L	UINC.L	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.06	+0.40
Sortino ratio: Return per unit of downside risk	3.53	3.13	+0.40
Omega ratio: Gain probability vs. loss probability	1.45	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	3.42	3.69	-0.27
Martin ratio: Return relative to average drawdown	12.27	10.25	+2.02

VHYD.L vs. UINC.L - Sharpe Ratio Comparison

The current VHYD.L Sharpe Ratio is 2.46, which is comparable to the UINC.L Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of VHYD.L and UINC.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.

Drawdowns

VHYD.L vs. UINC.L - Drawdown Comparison

The maximum VHYD.L drawdown since its inception was -36.60%, smaller than the maximum UINC.L drawdown of -45.64%. Use the drawdown chart below to compare losses from any high point for VHYD.L and UINC.L.

Drawdown Indicators

	VHYD.L	UINC.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.60%	-45.64%	+9.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.74%	-7.04%	-0.70%
Max Drawdown (3Y) Largest decline over 3 years	-12.48%	-21.58%	+9.10%
Max Drawdown (5Y) Largest decline over 5 years	-20.89%	-21.58%	+0.69%
Max Drawdown (10Y) Largest decline over 10 years	-36.60%	-45.00%	+8.40%
Current Drawdown Current decline from peak	-0.09%	0.00%	-0.09%
Average Drawdown Average peak-to-trough decline	-5.28%	-10.56%	+5.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.54%	-0.38%

Volatility

VHYD.L vs. UINC.L - Volatility Comparison

The current volatility for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) is 2.83%, while First Trust US Equity Income UCITS ETF (UINC.L) has a volatility of 3.18%. This indicates that VHYD.L experiences smaller price fluctuations and is considered to be less risky than UINC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHYD.L	UINC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.18%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	8.93%	8.85%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	10.81%	12.74%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.62%	17.95%	-4.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	20.46%	-5.28%

Dividends

VHYD.L vs. UINC.L - Dividend Comparison

VHYD.L's dividend yield for the trailing twelve months is around 2.51%, less than UINC.L's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UINC.L First Trust US Equity Income UCITS ETF	2.82%	3.03%	2.84%	3.20%	3.25%	2.15%	3.40%	3.14%	3.01%	2.49%	1.60%	0.00%
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing	2.51%	2.77%	3.15%	3.31%	3.72%	3.14%	2.90%	3.23%	3.77%	2.96%	3.16%	3.32%

Frequently Asked Questions

Can I hold both VHYD.L and UINC.L in my portfolio?

VHYD.L and UINC.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between VHYD.L and UINC.L?

VHYD.L tracks FTSE All-World High Dividend Yield Index, while UINC.L tracks First Trust US Equity Income UCITS ETF. They also come from different issuers: Vanguard and First Trust.