VWCE.DE vs. SPPW.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and SPPW.DE (SPDR MSCI World UCITS ETF) are both Global Equities funds - VWCE.DE tracks the FTSE All-World Index while SPPW.DE tracks the MSCI World. Both are passively managed. Over the past 5 years, VWCE.DE returned 12.28%/yr vs 13.03%/yr for SPPW.DE. With a 0.99 correlation, they move nearly in lockstep. VWCE.DE charges 0.19%/yr vs 0.12%/yr for SPPW.DE.
Performance
VWCE.DE vs. SPPW.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 SPPW.DE's 10.85% 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*
- —
SPPW.DE
- 1D
- -0.31%
- 1M
- 3.71%
- YTD
- 10.85%
- 6M
- 10.95%
- 1Y
- 23.79%
- 3Y*
- 17.79%
- 5Y*
- 13.03%
- 10Y*
- —
VWCE.DE vs. SPPW.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% |
SPPW.DE SPDR MSCI World UCITS ETF | 10.85% | 8.03% | 26.09% | 20.25% | -13.28% | 32.66% | 5.27% | 7.67% |
Correlation
The correlation between VWCE.DE and SPPW.DE is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
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 | 0.99 |
The correlation between VWCE.DE and SPPW.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
VWCE.DE vs. SPPW.DE — Risk / Return Rank
VWCE.DE
SPPW.DE
VWCE.DE vs. SPPW.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 SPDR MSCI World UCITS ETF (SPPW.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 | SPPW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.40 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 3.66 | +0.35 |
| Martin ratioReturn relative to average drawdown | 16.55 | 14.69 | +1.86 |
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 | SPPW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.16 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.92 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.86 | -0.07 |
Drawdowns
VWCE.DE vs. SPPW.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, roughly equal to the maximum SPPW.DE drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and SPPW.DE.
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Drawdown Indicators
| VWCE.DE | SPPW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -33.69% | +0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -6.51% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -21.62% | +0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -21.62% | +0.55% |
Current DrawdownCurrent decline from peak | -0.66% | -0.31% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -4.43% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.63% | -0.04% |
Volatility
VWCE.DE vs. SPPW.DE - Volatility Comparison
Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a higher volatility of 3.06% compared to SPDR MSCI World UCITS ETF (SPPW.DE) at 2.70%. This indicates that VWCE.DE's price experiences larger fluctuations and is considered to be riskier than SPPW.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 | SPPW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 2.70% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 8.18% | 7.62% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 11.11% | +0.26% |
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% | 16.08% | +0.08% |
VWCE.DE vs. SPPW.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% expense ratio, which is higher than SPPW.DE's 0.12% 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. SPPW.DE - Dividend Comparison
Neither VWCE.DE nor SPPW.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, VWCE.DE and SPPW.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, SPPW.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPPW.DE is cheaper with a 0.12% expense ratio, compared with 0.19% for VWCE.DE.
VWCE.DE tracks FTSE All-World Index, while SPPW.DE tracks MSCI World. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.19% for VWCE.DE and 0.12% for SPPW.DE.
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