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VHYD.L vs. VHYL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VHYD.L vs. VHYL.L

Last updated Jun 26, 2026

VHYD.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) and VHYL.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) are both Dividend funds from Vanguard tracking the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 10 years, VHYD.L returned 10.74%/yr vs 10.74%/yr for VHYL.L. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.29% expense ratio.

Performance

VHYD.L vs. VHYL.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 Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VHYD.L is traded in USD, while VHYL.L is traded in GBP. To make them comparable, the VHYL.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 VHYD.L having a 11.63% return and VHYL.L slightly lower at 11.52%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: VHYD.L at 10.74% and VHYL.L at 10.74%.

VHYD.L

1D
0.78%
1M
0.68%
YTD
11.63%
6M
11.86%
1Y
27.04%
3Y*
18.97%
5Y*
10.91%
10Y*
10.74%

VHYL.L

1D
0.56%
1M
0.42%
YTD
11.52%
6M
11.84%
1Y
26.48%
3Y*
18.99%
5Y*
10.96%
10Y*
10.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
VHYD.L
Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing		11.63%27.03%9.32%11.43%-5.45%17.84%-0.31%20.75%-11.71%19.33%
VHYL.L
Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing		11.52%27.15%9.37%10.81%-5.37%18.15%-0.58%21.69%-11.88%19.16%

Correlation

The correlation between VHYD.L and VHYL.L is 0.91, 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

0.91

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

0.90

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

0.89

Correlation (10Y)
Calculated over the trailing 10-year period

0.88

Correlation (All Time)
Calculated using the full available price history since May 21, 2013

0.89

The correlation between VHYD.L and VHYL.L has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

VHYD.L vs. VHYL.L - Sectors Allocation Comparison

Sectors
VHYD.L
VHYL.L

Financial Services

28.2%
28.6%

Industrials

12.2%
12.3%

Healthcare

11.1%
11.2%

Technology

9.5%
7.7%

Energy

8.7%
9.4%

Consumer Defensive

8.5%
8.7%

Consumer Cyclical

7.2%
7.0%

Utilities

5.3%
5.7%

Basic Materials

5.2%
5.1%

Communication Services

3.4%
3.5%

Real Estate

0.8%
0.9%

Financial Services

VHYD.L
28.2%
VHYL.L
28.6%

Industrials

VHYD.L
12.2%
VHYL.L
12.3%

Healthcare

VHYD.L
11.1%
VHYL.L
11.2%

Technology

VHYD.L
9.5%
VHYL.L
7.7%

Energy

VHYD.L
8.7%
VHYL.L
9.4%

Consumer Defensive

VHYD.L
8.5%
VHYL.L
8.7%

Consumer Cyclical

VHYD.L
7.2%
VHYL.L
7.0%

Utilities

VHYD.L
5.3%
VHYL.L
5.7%

Basic Materials

VHYD.L
5.2%
VHYL.L
5.1%

Communication Services

VHYD.L
3.4%
VHYL.L
3.5%

Real Estate

VHYD.L
0.8%
VHYL.L
0.9%

Compare stocks, funds, or ETFs

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Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing

Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing

Often compared with VHYD.L:
VHYD.L vs. SCHDVHYD.L vs. VDIV.DEVHYD.L vs. FUSD.LVHYD.L vs. JEPQVHYD.L vs. WQDV.LVHYD.L vs. JEGP.LVHYD.L vs. JEPI
Often compared with VHYL.L:
VHYL.L vs. VWRP.LVHYL.L vs. DGRG.LVHYL.L vs. VUSA.LVHYL.L vs. TDGB.LVHYL.L vs. GBDV.LVHYL.L vs. DGRP.LVHYL.L vs. FUSD.L

Return for Risk

VHYD.L vs. VHYL.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: 8383
Overall Rank
VHYD.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
VHYD.L Sortino Ratio Rank: 8989
Sortino Ratio Rank
VHYD.L Omega Ratio Rank: 8787
Omega Ratio Rank
VHYD.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
VHYD.L Martin Ratio Rank: 7676
Martin Ratio Rank
VHYL.L
VHYL.L Risk / Return Rank: 9292
Overall Rank
VHYL.L Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
VHYL.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
VHYL.L Omega Ratio Rank: 9696
Omega Ratio Rank
VHYL.L Calmar Ratio Rank: 8787
Calmar Ratio Rank
VHYL.L Martin Ratio Rank: 8787
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.

VHYD.L vs. VHYL.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 Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.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.LVHYL.LDifference
Sharpe ratioReturn per unit of total volatility
2.50
2.56

-0.06

Sortino ratioReturn per unit of downside risk
3.58
3.64

-0.07

Omega ratioGain probability vs. loss probability

1.46

1.46

0.00

Calmar ratioReturn relative to maximum drawdown

3.48

3.37

+0.11

Martin ratioReturn relative to average drawdown

12.49

11.87

+0.63

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

The current VHYD.L Sharpe Ratio is 2.50, which is comparable to the VHYL.L Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of VHYD.L and VHYL.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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Drawdowns

VHYD.L vs. VHYL.L - Drawdown Comparison

The maximum VHYD.L drawdown since its inception was -36.60%, roughly equal to the maximum VHYL.L drawdown of -36.01%. Use the drawdown chart below to compare losses from any high point for VHYD.L and VHYL.L.

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Drawdown Indicators

VHYD.LVHYL.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.60%

-36.01%

-0.59%

Max Drawdown (1Y)

Largest decline over 1 year

-7.74%

-7.82%

+0.08%

Max Drawdown (3Y)

Largest decline over 3 years

-12.48%

-12.59%

+0.11%

Max Drawdown (5Y)

Largest decline over 5 years

-20.89%

-21.60%

+0.71%

Max Drawdown (10Y)

Largest decline over 10 years

-36.60%

-36.01%

-0.59%

Current Drawdown

Current decline from peak

-1.37%

-1.19%

-0.18%

Average Drawdown

Average peak-to-trough decline

-5.30%

-5.31%

+0.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.16%

2.23%

-0.07%

Volatility

VHYD.L vs. VHYL.L - Volatility Comparison

Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) has a higher volatility of 3.33% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.L) at 2.73%. This indicates that VHYD.L's price experiences larger fluctuations and is considered to be riskier than VHYL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VHYD.LVHYL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.33%

2.73%

+0.60%

Volatility (6M)

Calculated over the trailing 6-month period

8.81%

8.34%

+0.47%

Volatility (1Y)

Calculated over the trailing 1-year period

10.80%

10.31%

+0.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.65%

13.23%

+0.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.27%

14.50%

+0.77%

VHYD.L vs. VHYL.L - Expense Ratio Comparison

Both VHYD.L and VHYL.L have an expense ratio of 0.29%.

Dividends

VHYD.L vs. VHYL.L - Dividend Comparison

VHYD.L's dividend yield for the trailing twelve months is around 2.55%, more than VHYL.L's 2.52% yield.

PositionTTM20252024202320222021202020192018201720162015
VHYD.L
Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing		2.55%2.77%3.15%3.31%3.72%3.14%2.90%3.23%3.77%2.96%3.16%3.32%
VHYL.L
Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing		2.52%2.79%3.08%3.37%3.67%3.08%3.28%3.34%3.63%3.09%2.88%3.20%

Frequently Asked Questions

With a correlation of 0.91, VHYD.L and VHYL.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.

Both ETFs have the same 0.29% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

VHYD.L and VHYL.L have the same expense ratio: 0.29% per year.

Both ETFs track FTSE All-World High Dividend Yield Index.

Portfolio Optimizer

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