VWCE.DE vs. XDEM.DE

Last updated Jun 9, 2026

VWCE.DE (Vanguard FTSE All-World UCITS ETF) and XDEM.DE (Xtrackers MSCI World Momentum Factor UCITS ETF 1C) are both exchange-traded funds - VWCE.DE is a Global Equities fund tracking the FTSE All-World Index, while XDEM.DE is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 5 years, VWCE.DE returned 11.93%/yr vs 14.49%/yr for XDEM.DE. Their correlation of 0.86 suggests significant overlap in exposure. VWCE.DE charges 0.19%/yr vs 0.25%/yr for XDEM.DE.

Performance

VWCE.DE vs. XDEM.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE All-World UCITS ETF (VWCE.DE) and Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWCE.DE achieves a 11.26% return, which is significantly lower than XDEM.DE's 21.28% return.

VWCE.DE

• 1D: 0.15%
• 1M: 2.31%
• YTD: 11.26%
• 6M: 11.96%
• 1Y: 24.29%
• 3Y*: 17.30%
• 5Y*: 11.93%
• 10Y*: —

XDEM.DE

• 1D: 0.39%
• 1M: 5.60%
• YTD: 21.28%
• 6M: 21.64%
• 1Y: 29.95%
• 3Y*: 25.78%
• 5Y*: 14.49%
• 10Y*: 15.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VWCE.DE vs. XDEM.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VWCE.DE Vanguard FTSE All-World UCITS ETF	11.26%	9.16%	24.41%	18.18%	-13.47%	28.62%	5.36%	7.08%
XDEM.DE Xtrackers MSCI World Momentum Factor UCITS ETF 1C	21.28%	8.09%	38.22%	8.18%	-13.65%	24.74%	16.54%	4.16%

Correlation

The correlation between VWCE.DE and XDEM.DE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019	0.86

The correlation between VWCE.DE and XDEM.DE has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

Return for Risk

VWCE.DE vs. XDEM.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VWCE.DE

VWCE.DE Risk / Return Rank: 77
VWCE.DE Sharpe Ratio Rank: 73
VWCE.DE Sortino Ratio Rank: 74
VWCE.DE Omega Ratio Rank: 74
VWCE.DE Calmar Ratio Rank: 79
VWCE.DE Martin Ratio Rank: 84

XDEM.DE

XDEM.DE Risk / Return Rank: 68
XDEM.DE Sharpe Ratio Rank: 60
XDEM.DE Sortino Ratio Rank: 66
XDEM.DE Omega Ratio Rank: 60
XDEM.DE Calmar Ratio Rank: 74
XDEM.DE Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VWCE.DE vs. XDEM.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 Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.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	XDEM.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.81	+0.30
Sortino ratio: Return per unit of downside risk	2.95	2.71	+0.24
Omega ratio: Gain probability vs. loss probability	1.39	1.33	+0.06
Calmar ratio: Return relative to maximum drawdown	3.68	3.39	+0.28
Martin ratio: Return relative to average drawdown	15.26	13.23	+2.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWCE.DE vs. XDEM.DE - Sharpe Ratio Comparison

The current VWCE.DE Sharpe Ratio is 2.11, which is comparable to the XDEM.DE Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of VWCE.DE and XDEM.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VWCE.DE	XDEM.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	1.81	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.83	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.40	+0.36

Drawdowns

VWCE.DE vs. XDEM.DE - Drawdown Comparison

The maximum VWCE.DE drawdown since its inception was -33.43%, which is greater than XDEM.DE's maximum drawdown of -30.94%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and XDEM.DE.

Drawdown Indicators

	VWCE.DE	XDEM.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.43%	-30.94%	-2.49%
Max Drawdown (1Y) Largest decline over 1 year	-6.55%	-9.01%	+2.46%
Max Drawdown (3Y) Largest decline over 3 years	-21.07%	-23.51%	+2.44%
Max Drawdown (5Y) Largest decline over 5 years	-21.07%	-23.51%	+2.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.94%	—
Current Drawdown Current decline from peak	-1.87%	-2.15%	+0.28%
Average Drawdown Average peak-to-trough decline	-4.69%	-7.41%	+2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	2.32%	-0.74%

Volatility

VWCE.DE vs. XDEM.DE - Volatility Comparison

The current volatility for Vanguard FTSE All-World UCITS ETF (VWCE.DE) is 3.29%, while Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.DE) has a volatility of 5.72%. This indicates that VWCE.DE experiences smaller price fluctuations and is considered to be less risky than XDEM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWCE.DE	XDEM.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	5.72%	-2.43%
Volatility (6M) Calculated over the trailing 6-month period	8.24%	14.29%	-6.05%
Volatility (1Y) Calculated over the trailing 1-year period	11.42%	16.95%	-5.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.76%	17.32%	-3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.15%	18.07%	-1.92%

VWCE.DE vs. XDEM.DE - Expense Ratio Comparison

VWCE.DE has a 0.19% expense ratio, which is lower than XDEM.DE's 0.25% 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. XDEM.DE - Dividend Comparison

Neither VWCE.DE nor XDEM.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VWCE.DE and XDEM.DE in my portfolio?

VWCE.DE and XDEM.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VWCE.DE or XDEM.DE?

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.

Which ETF is cheaper, VWCE.DE or XDEM.DE?

VWCE.DE is cheaper with a 0.19% expense ratio, compared with 0.25% for XDEM.DE.

What is the main difference between VWCE.DE and XDEM.DE?

VWCE.DE is categorized as Global Equities, while XDEM.DE is Momentum. VWCE.DE tracks FTSE All-World Index, while XDEM.DE tracks MSCI World Momentum Index. They also come from different issuers: Vanguard and DWS. Their fees differ too: 0.19% for VWCE.DE and 0.25% for XDEM.DE.