VWCE.DE vs. SPYQ.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and SPYQ.DE (SPDR MSCI Europe Industrials UCITS ETF) are both exchange-traded funds - VWCE.DE is a Global Equities fund tracking the FTSE All-World Index, while SPYQ.DE is a Industrials Equities fund tracking the MSCI Europe Industrials 20/35 Capped. Both are passively managed. Over the past 5 years, VWCE.DE returned 11.89%/yr vs 12.57%/yr for SPYQ.DE. A 0.78 correlation means they provide meaningful diversification when combined. VWCE.DE charges 0.19%/yr vs 0.18%/yr for SPYQ.DE.
Performance
VWCE.DE vs. SPYQ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VWCE.DE achieves a 11.72% return, which is significantly higher than SPYQ.DE's 7.91% return.
VWCE.DE
- 1D
- 1.82%
- 1M
- 0.89%
- YTD
- 11.72%
- 6M
- 13.39%
- 1Y
- 26.35%
- 3Y*
- 17.02%
- 5Y*
- 11.89%
- 10Y*
- —
SPYQ.DE
- 1D
- 1.99%
- 1M
- 0.10%
- YTD
- 7.91%
- 6M
- 9.26%
- 1Y
- 16.59%
- 3Y*
- 18.36%
- 5Y*
- 12.57%
- 10Y*
- 13.12%
VWCE.DE vs. SPYQ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VWCE.DE Vanguard FTSE All-World UCITS ETF | 11.72% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 7.08% |
SPYQ.DE SPDR MSCI Europe Industrials UCITS ETF | 7.91% | 25.52% | 14.36% | 26.68% | -16.54% | 28.05% | 4.02% | 9.73% |
Correlation
The correlation between VWCE.DE and SPYQ.DE is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.78 |
The correlation between VWCE.DE and SPYQ.DE has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.
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Return for Risk
VWCE.DE vs. SPYQ.DE — Risk / Return Rank
VWCE.DE
SPYQ.DE
VWCE.DE vs. SPYQ.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 Europe Industrials UCITS ETF (SPYQ.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VWCE.DE | SPYQ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.15 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 1.20 | +2.72 |
| Martin ratioReturn relative to average drawdown | 16.07 | 4.36 | +11.72 |
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Drawdowns
VWCE.DE vs. SPYQ.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, smaller than the maximum SPYQ.DE drawdown of -41.44%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and SPYQ.DE.
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Drawdown Indicators
| VWCE.DE | SPYQ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -41.44% | +8.01% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -13.15% | +6.60% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -18.37% | -2.70% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -29.20% | +8.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.44% | — |
Current DrawdownCurrent decline from peak | -1.47% | -3.52% | +2.05% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -6.49% | +1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 3.63% | -2.03% |
Volatility
VWCE.DE vs. SPYQ.DE - Volatility Comparison
The current volatility for Vanguard FTSE All-World UCITS ETF (VWCE.DE) is 3.40%, while SPDR MSCI Europe Industrials UCITS ETF (SPYQ.DE) has a volatility of 6.20%. This indicates that VWCE.DE experiences smaller price fluctuations and is considered to be less risky than SPYQ.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 | SPYQ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.40% | 6.20% | -2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 8.51% | 16.72% | -8.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 19.93% | -8.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.79% | 18.92% | -5.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 19.61% | -3.45% |
VWCE.DE vs. SPYQ.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% expense ratio, which is higher than SPYQ.DE's 0.18% 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. SPYQ.DE - Dividend Comparison
Neither VWCE.DE nor SPYQ.DE has paid dividends to shareholders.
Frequently Asked Questions
VWCE.DE and SPYQ.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYQ.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYQ.DE is cheaper with a 0.18% expense ratio, compared with 0.19% for VWCE.DE.
VWCE.DE is categorized as Global Equities, while SPYQ.DE is Industrials Equities. VWCE.DE tracks FTSE All-World Index, while SPYQ.DE tracks MSCI Europe Industrials 20/35 Capped. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.19% for VWCE.DE and 0.18% for SPYQ.DE.
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