VWCE.DE vs. SPYL.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - VWCE.DE is a Global Equities fund tracking the FTSE All-World Index, while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, VWCE.DE returned 26.31% vs 25.56% for SPYL.DE. Their correlation of 0.95 suggests significant overlap in exposure. VWCE.DE charges 0.19%/yr vs 0.03%/yr for SPYL.DE.
Performance
VWCE.DE vs. SPYL.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 SPYL.DE's 11.37% 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*
- —
SPYL.DE
- 1D
- -0.15%
- 1M
- 4.36%
- YTD
- 11.37%
- 6M
- 10.86%
- 1Y
- 25.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VWCE.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VWCE.DE Vanguard FTSE All-World UCITS ETF | 12.64% | 9.16% | 24.41% | 8.45% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between VWCE.DE and SPYL.DE is 0.95 - 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 | 0.95 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.95 |
The correlation between VWCE.DE and SPYL.DE has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
VWCE.DE vs. SPYL.DE — Risk / Return Rank
VWCE.DE
SPYL.DE
VWCE.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.41 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 3.58 | +0.44 |
| Martin ratioReturn relative to average drawdown | 16.55 | 12.72 | +3.83 |
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 | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.21 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 1.54 | -0.75 |
Drawdowns
VWCE.DE vs. SPYL.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and SPYL.DE.
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Drawdown Indicators
| VWCE.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -23.27% | -10.16% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -7.13% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | — | — |
Current DrawdownCurrent decline from peak | -0.66% | -0.46% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -3.24% | -1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 2.01% | -0.42% |
Volatility
VWCE.DE vs. SPYL.DE - Volatility Comparison
Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a higher volatility of 3.06% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that VWCE.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 2.66% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.18% | 7.57% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 11.52% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.75% | 14.61% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 14.61% | +1.55% |
VWCE.DE vs. SPYL.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% expense ratio, which is higher than SPYL.DE's 0.03% 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. SPYL.DE - Dividend Comparison
Neither VWCE.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, VWCE.DE and SPYL.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, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.19% for VWCE.DE.
VWCE.DE is categorized as Global Equities, while SPYL.DE is S&P 500. VWCE.DE tracks FTSE All-World Index, while SPYL.DE tracks S&P 500 Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.19% for VWCE.DE and 0.03% for SPYL.DE.
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