VNRA.DE vs. MKGAF

Last updated Jun 5, 2026

VNRA.DE (Vanguard FTSE North America UCITS ETF (USD) Accumulating) is Large Cap Blend Equities fund tracking the FTSE North America, while MKGAF (Merck KGaA) is a stock. Over the past 5 years, VNRA.DE returned 14.38%/yr vs 1.94%/yr for MKGAF. At a 0.21 correlation, their price movements are largely independent.

Performance

VNRA.DE vs. MKGAF - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE North America UCITS ETF (USD) Accumulating (VNRA.DE) and Merck KGaA (MKGAF). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VNRA.DE is traded in EUR, while MKGAF is traded in USD. To make them comparable, the MKGAF values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, VNRA.DE achieves a 11.15% return, which is significantly lower than MKGAF's 13.14% return.

VNRA.DE

• 1D: -0.02%
• 1M: 4.57%
• YTD: 11.15%
• 6M: 10.70%
• 1Y: 25.18%
• 3Y*: 19.14%
• 5Y*: 14.38%
• 10Y*: —

MKGAF

• 1D: 0.84%
• 1M: 23.06%
• YTD: 13.14%
• 6M: 13.33%
• 1Y: 22.55%
• 3Y*: -3.90%
• 5Y*: 1.94%
• 10Y*: 7.14%

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

VNRA.DE vs. MKGAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VNRA.DE Vanguard FTSE North America UCITS ETF (USD) Accumulating	11.15%	5.41%	32.23%	22.65%	-15.14%	38.59%	9.69%	8.03%
MKGAF Merck KGaA	13.14%	-10.97%	3.35%	-17.71%	-19.14%	78.70%	35.72%	8.60%

Correlation

The correlation between VNRA.DE and MKGAF is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jul 26, 2019	0.21

The correlation between VNRA.DE and MKGAF shifts across timeframes, from 0.10 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VNRA.DE vs. MKGAF — Risk / Return Rank

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

VNRA.DE

VNRA.DE Risk / Return Rank: 68
VNRA.DE Sharpe Ratio Rank: 68
VNRA.DE Sortino Ratio Rank: 65
VNRA.DE Omega Ratio Rank: 69
VNRA.DE Calmar Ratio Rank: 71
VNRA.DE Martin Ratio Rank: 69

MKGAF

MKGAF Risk / Return Rank: 58
MKGAF Sharpe Ratio Rank: 58
MKGAF Sortino Ratio Rank: 55
MKGAF Omega Ratio Rank: 52
MKGAF Calmar Ratio Rank: 62
MKGAF Martin Ratio Rank: 64

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.

VNRA.DE vs. MKGAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE North America UCITS ETF (USD) Accumulating (VNRA.DE) and Merck KGaA (MKGAF). 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.

	VNRA.DE	MKGAF	Difference
Sharpe ratio: Return per unit of total volatility	2.19	0.47	+1.72
Sortino ratio: Return per unit of downside risk	2.98	1.01	+1.97
Omega ratio: Gain probability vs. loss probability	1.41	1.12	+0.29
Calmar ratio: Return relative to maximum drawdown	3.52	1.03	+2.49
Martin ratio: Return relative to average drawdown	12.55	2.52	+10.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNRA.DE vs. MKGAF - Sharpe Ratio Comparison

The current VNRA.DE Sharpe Ratio is 2.19, which is higher than the MKGAF Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of VNRA.DE and MKGAF, 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

	VNRA.DE	MKGAF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	0.47	+1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.05	+0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.20	+0.67

Drawdowns

VNRA.DE vs. MKGAF - Drawdown Comparison

The maximum VNRA.DE drawdown since its inception was -34.48%, smaller than the maximum MKGAF drawdown of -49.66%. Use the drawdown chart below to compare losses from any high point for VNRA.DE and MKGAF.

Drawdown Indicators

	VNRA.DE	MKGAF	Difference
Max Drawdown Largest peak-to-trough decline	-34.48%	-49.66%	+15.18%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-22.06%	+14.92%
Max Drawdown (3Y) Largest decline over 3 years	-23.30%	-40.47%	+17.17%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-49.66%	+26.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.66%	—
Current Drawdown Current decline from peak	-0.35%	-31.29%	+30.94%
Average Drawdown Average peak-to-trough decline	-4.72%	-20.00%	+15.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	8.98%	-6.97%

Volatility

VNRA.DE vs. MKGAF - Volatility Comparison

The current volatility for Vanguard FTSE North America UCITS ETF (USD) Accumulating (VNRA.DE) is 2.61%, while Merck KGaA (MKGAF) has a volatility of 15.96%. This indicates that VNRA.DE experiences smaller price fluctuations and is considered to be less risky than MKGAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNRA.DE	MKGAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	15.96%	-13.35%
Volatility (6M) Calculated over the trailing 6-month period	7.47%	36.36%	-28.89%
Volatility (1Y) Calculated over the trailing 1-year period	11.49%	47.88%	-36.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	43.03%	-27.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.40%	37.79%	-20.39%

Dividends

VNRA.DE vs. MKGAF - Dividend Comparison

Neither VNRA.DE nor MKGAF has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MKGAF Merck KGaA	0.00%	3.39%	3.11%	3.00%	2.05%	5.09%	0.85%	0.00%	1.48%	1.11%
VNRA.DE Vanguard FTSE North America UCITS ETF (USD) Accumulating	0.00%	0.00%	0.26%	0.00%	0.00%	0.00%	0.89%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VNRA.DE and MKGAF in my portfolio?

VNRA.DE and MKGAF have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.