VWCE.DE vs. ETLQ.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and ETLQ.DE (L&G Global Equity UCITS ETF) are both Global Equities funds - VWCE.DE tracks the FTSE All-World Index while ETLQ.DE tracks the Solactive Core Developed Markets Large & Mid Cap. Both are passively managed. Over the past 5 years, VWCE.DE returned 12.28%/yr vs 13.10%/yr for ETLQ.DE. With a 0.97 correlation, they move nearly in lockstep. VWCE.DE charges 0.19%/yr vs 0.10%/yr for ETLQ.DE.
Performance
VWCE.DE vs. ETLQ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VWCE.DE achieves a 12.64% return, which is significantly higher than ETLQ.DE's 10.88% return.
VWCE.DE
- 1D
- -0.21%
- 1M
- 3.63%
- YTD
- 12.64%
- 6M
- 12.84%
- 1Y
- 26.31%
- 3Y*
- 17.85%
- 5Y*
- 12.28%
- 10Y*
- —
ETLQ.DE
- 1D
- 0.00%
- 1M
- 3.89%
- YTD
- 10.88%
- 6M
- 10.99%
- 1Y
- 23.85%
- 3Y*
- 17.73%
- 5Y*
- 13.10%
- 10Y*
- —
VWCE.DE vs. ETLQ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VWCE.DE Vanguard FTSE All-World UCITS ETF | 12.64% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 8.01% |
ETLQ.DE L&G Global Equity UCITS ETF | 10.88% | 8.14% | 26.10% | 20.83% | -13.64% | 32.63% | 5.63% | 7.66% |
Correlation
The correlation between VWCE.DE and ETLQ.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2019 | 0.97 |
The correlation between VWCE.DE and ETLQ.DE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
VWCE.DE vs. ETLQ.DE — Risk / Return Rank
VWCE.DE
ETLQ.DE
VWCE.DE vs. ETLQ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF (VWCE.DE) and L&G Global Equity UCITS ETF (ETLQ.DE). 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.
| VWCE.DE | ETLQ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.39 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 3.56 | +0.45 |
| Martin ratioReturn relative to average drawdown | 16.55 | 14.23 | +2.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VWCE.DE | ETLQ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.13 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.92 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.93 | -0.14 |
Drawdowns
VWCE.DE vs. ETLQ.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, roughly equal to the maximum ETLQ.DE drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and ETLQ.DE.
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Drawdown Indicators
| VWCE.DE | ETLQ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -33.38% | -0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -6.68% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -21.58% | +0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -21.58% | +0.51% |
Current DrawdownCurrent decline from peak | -0.66% | -0.34% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -4.33% | -0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.68% | -0.09% |
Volatility
VWCE.DE vs. ETLQ.DE - Volatility Comparison
Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a higher volatility of 3.06% compared to L&G Global Equity UCITS ETF (ETLQ.DE) at 2.68%. This indicates that VWCE.DE's price experiences larger fluctuations and is considered to be riskier than ETLQ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWCE.DE | ETLQ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 2.68% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 8.18% | 7.77% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 11.18% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.75% | 14.06% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 15.74% | +0.42% |
VWCE.DE vs. ETLQ.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% expense ratio, which is higher than ETLQ.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VWCE.DE vs. ETLQ.DE - Dividend Comparison
Neither VWCE.DE nor ETLQ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, VWCE.DE and ETLQ.DE 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.
On fees, ETLQ.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLQ.DE is cheaper with a 0.10% expense ratio, compared with 0.19% for VWCE.DE.
VWCE.DE tracks FTSE All-World Index, while ETLQ.DE tracks Solactive Core Developed Markets Large & Mid Cap. They also come from different issuers: Vanguard and Legal & General. Their fees differ too: 0.19% for VWCE.DE and 0.10% for ETLQ.DE.
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