VWCE.DE vs. V3AA.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and V3AA.DE (Vanguard ESG Global All Cap UCITS ETF (USD) Acc) are both Global Equities funds from Vanguard - VWCE.DE tracks the FTSE All-World Index while V3AA.DE tracks the FTSE Global All Cap Choice Index. Both are passively managed. Over the past 5 years, VWCE.DE returned 12.28%/yr vs 11.33%/yr for V3AA.DE. With a 0.98 correlation, they move nearly in lockstep. VWCE.DE charges 0.19%/yr vs 0.24%/yr for V3AA.DE.
Performance
VWCE.DE vs. V3AA.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VWCE.DE having a 12.64% return and V3AA.DE slightly higher at 12.77%.
VWCE.DE
- 1D
- -0.21%
- 1M
- 3.63%
- YTD
- 12.64%
- 6M
- 12.84%
- 1Y
- 26.31%
- 3Y*
- 17.85%
- 5Y*
- 12.28%
- 10Y*
- —
V3AA.DE
- 1D
- -0.11%
- 1M
- 4.35%
- YTD
- 12.77%
- 6M
- 13.07%
- 1Y
- 26.49%
- 3Y*
- 17.62%
- 5Y*
- 11.33%
- 10Y*
- —
VWCE.DE vs. V3AA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VWCE.DE Vanguard FTSE All-World UCITS ETF | 12.64% | 9.16% | 24.41% | 18.18% | -13.47% | 19.57% |
V3AA.DE Vanguard ESG Global All Cap UCITS ETF (USD) Acc | 12.77% | 7.60% | 24.41% | 20.63% | -18.04% | 20.19% |
Correlation
The correlation between VWCE.DE and V3AA.DE is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021 | 0.98 |
The correlation between VWCE.DE and V3AA.DE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
VWCE.DE vs. V3AA.DE — Risk / Return Rank
VWCE.DE
V3AA.DE
VWCE.DE vs. V3AA.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 Vanguard ESG Global All Cap UCITS ETF (USD) Acc (V3AA.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 | V3AA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.40 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 3.30 | +0.72 |
| Martin ratioReturn relative to average drawdown | 16.55 | 13.32 | +3.23 |
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 | V3AA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.17 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.78 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.82 | -0.04 |
Drawdowns
VWCE.DE vs. V3AA.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, which is greater than V3AA.DE's maximum drawdown of -22.30%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and V3AA.DE.
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Drawdown Indicators
| VWCE.DE | V3AA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -22.30% | -11.13% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -8.16% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -22.30% | +1.23% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -22.30% | +1.23% |
Current DrawdownCurrent decline from peak | -0.66% | -0.75% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -5.91% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 2.03% | -0.44% |
Volatility
VWCE.DE vs. V3AA.DE - Volatility Comparison
The current volatility for Vanguard FTSE All-World UCITS ETF (VWCE.DE) is 3.06%, while Vanguard ESG Global All Cap UCITS ETF (USD) Acc (V3AA.DE) has a volatility of 3.38%. This indicates that VWCE.DE experiences smaller price fluctuations and is considered to be less risky than V3AA.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 | V3AA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 3.38% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 8.18% | 9.13% | -0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 12.42% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.75% | 14.42% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 14.33% | +1.83% |
VWCE.DE vs. V3AA.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% expense ratio, which is lower than V3AA.DE's 0.24% expense ratio. Despite the difference, 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. V3AA.DE - Dividend Comparison
Neither VWCE.DE nor V3AA.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, VWCE.DE and V3AA.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, VWCE.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWCE.DE is cheaper with a 0.19% expense ratio, compared with 0.24% for V3AA.DE.
VWCE.DE tracks FTSE All-World Index, while V3AA.DE tracks FTSE Global All Cap Choice Index. Their fees differ too: 0.19% for VWCE.DE and 0.24% for V3AA.DE.
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