VSGX vs. DBAW

Last updated Jun 4, 2026

VSGX (Vanguard ESG International Stock ETF) and DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) are both Foreign Large Cap Equities funds - VSGX tracks the FTSE Global All Cap ex US Choice Index. while DBAW tracks the MSCI ACWI ex USA US Dollar Hedged Index. Both are passively managed. Over the past 5 years, VSGX returned 7.81%/yr vs 11.32%/yr for DBAW. Their correlation of 0.92 suggests significant overlap in exposure. VSGX charges 0.12%/yr vs 0.41%/yr for DBAW.

Performance

VSGX vs. DBAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard ESG International Stock ETF (VSGX) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VSGX having a 15.83% return and DBAW slightly higher at 16.12%.

VSGX

• 1D: -0.94%
• 1M: 6.54%
• YTD: 15.83%
• 6M: 18.55%
• 1Y: 33.27%
• 3Y*: 19.56%
• 5Y*: 7.81%
• 10Y*: —

DBAW

• 1D: -0.51%
• 1M: 6.28%
• YTD: 16.12%
• 6M: 18.39%
• 1Y: 36.60%
• 3Y*: 21.15%
• 5Y*: 11.32%
• 10Y*: 11.44%

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

VSGX vs. DBAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VSGX Vanguard ESG International Stock ETF	15.83%	30.77%	5.72%	15.62%	-18.61%	7.24%	13.01%	23.04%	-12.87%
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF	16.12%	26.47%	14.35%	16.26%	-13.35%	13.08%	7.44%	22.96%	-10.89%

Correlation

The correlation between VSGX and DBAW 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	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 21, 2018	0.92

The correlation between VSGX and DBAW has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

VSGX vs. DBAW - Sectors Allocation Comparison

Sectors	VSGX	DBAW
Financial Services	27.9%	24.1%
Technology	23.9%	18.7%
Industrials	9.8%	15.0%
Consumer Cyclical	9.5%	7.9%
Healthcare	9.4%	7.2%
Basic Materials	6.1%	6.8%
Consumer Defensive	5.1%	5.3%
Communication Services	4.5%	5.0%
Real Estate	3.2%	1.5%
Utilities	0.7%	3.2%
Energy	0.0%	5.3%

Return for Risk

VSGX vs. DBAW — Risk / Return Rank

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

VSGX

VSGX Risk / Return Rank: 57
VSGX Sharpe Ratio Rank: 59
VSGX Sortino Ratio Rank: 58
VSGX Omega Ratio Rank: 60
VSGX Calmar Ratio Rank: 52
VSGX Martin Ratio Rank: 57

DBAW

DBAW Risk / Return Rank: 84
DBAW Sharpe Ratio Rank: 86
DBAW Sortino Ratio Rank: 86
DBAW Omega Ratio Rank: 87
DBAW Calmar Ratio Rank: 79
DBAW Martin Ratio Rank: 83

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.

VSGX vs. DBAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG International Stock ETF (VSGX) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). 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.

	VSGX	DBAW	Difference
Sharpe ratio Return per unit of total volatility	2.04	2.86	-0.81
Sortino ratio Return per unit of downside risk	2.82	3.90	-1.08
Omega ratio Gain probability vs. loss probability	1.37	1.55	-0.18
Calmar ratio Return relative to maximum drawdown	2.60	4.09	-1.48
Martin ratio Return relative to average drawdown	10.13	16.97	-6.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSGX vs. DBAW - Sharpe Ratio Comparison

The current VSGX Sharpe Ratio is 2.04, which is comparable to the DBAW Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of VSGX and DBAW, 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

	VSGX	DBAW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.86	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.83	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.63	-0.12

Drawdowns

VSGX vs. DBAW - Drawdown Comparison

The maximum VSGX drawdown since its inception was -33.09%, which is greater than DBAW's maximum drawdown of -31.44%. Use the drawdown chart below to compare losses from any high point for VSGX and DBAW.

Drawdown Indicators

	VSGX	DBAW	Difference
Max Drawdown Largest peak-to-trough decline	-33.09%	-31.44%	-1.65%
Max Drawdown (1Y) Largest decline over 1 year	-12.84%	-9.00%	-3.84%
Max Drawdown (3Y) Largest decline over 3 years	-13.83%	-14.11%	+0.28%
Max Drawdown (5Y) Largest decline over 5 years	-32.14%	-17.87%	-14.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.44%	—
Current Drawdown Current decline from peak	-0.94%	-0.51%	-0.43%
Average Drawdown Average peak-to-trough decline	-7.78%	-5.00%	-2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	2.16%	+1.13%

Volatility

VSGX vs. DBAW - Volatility Comparison

Vanguard ESG International Stock ETF (VSGX) has a higher volatility of 6.06% compared to Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) at 4.71%. This indicates that VSGX's price experiences larger fluctuations and is considered to be riskier than DBAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSGX	DBAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.06%	4.71%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	14.12%	11.00%	+3.12%
Volatility (1Y) Calculated over the trailing 1-year period	16.38%	12.88%	+3.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.31%	13.74%	+2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	15.28%	+2.77%

VSGX vs. DBAW - Expense Ratio Comparison

VSGX has a 0.12% expense ratio, which is lower than DBAW's 0.41% expense ratio.

Dividends

VSGX vs. DBAW - Dividend Comparison

VSGX's dividend yield for the trailing twelve months is around 2.85%, less than DBAW's 3.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF	3.29%	3.83%	1.70%	3.45%	8.81%	2.05%	2.08%	2.91%	2.93%	2.41%	1.99%	5.74%
VSGX Vanguard ESG International Stock ETF	2.85%	3.23%	3.10%	2.77%	2.61%	2.49%	1.67%	2.28%	0.38%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSGX and DBAW in my portfolio?

With a correlation of 0.91, VSGX and DBAW 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.

Which is riskier, VSGX or DBAW?

VSGX has higher volatility (6.06%) compared to DBAW (4.71%). In terms of maximum drawdown, VSGX dropped -33.09% vs DBAW's -31.44%.

Which ETF is better, VSGX or DBAW?

On 5-year performance, DBAW leads with 11.32% vs 7.81% for VSGX. On fees, VSGX is cheaper at 0.12% per year. On volatility, DBAW has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSGX or DBAW?

Over the 5-year period, DBAW has performed better with a 11.32% return vs 7.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSGX or DBAW?

VSGX is cheaper with a 0.12% expense ratio, compared with 0.41% for DBAW.

Which ETF pays a higher dividend yield, VSGX or DBAW?

DBAW has the higher dividend yield at 3.29%, compared with 2.85% for VSGX.

What is the main difference between VSGX and DBAW?

VSGX tracks FTSE Global All Cap ex US Choice Index., while DBAW tracks MSCI ACWI ex USA US Dollar Hedged Index. They also come from different issuers: Vanguard and Deutsche Bank. Their fees differ too: 0.12% for VSGX and 0.41% for DBAW.

Which has better risk-adjusted returns?

DBAW currently has the higher Sharpe Ratio (2.86 vs 2.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.