VWCG.DE vs. MEU.MI

Last updated Jun 5, 2026

VWCG.DE (Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating) and MEU.MI (Amundi MSCI Europe II UCITS ETF) are both Europe Equities funds - VWCG.DE tracks the FTSE Developed Europe while MEU.MI tracks the MSCI Europe index. Both are passively managed. Over the past 5 years, VWCG.DE returned 9.96%/yr vs 9.78%/yr for MEU.MI. Their correlation of 0.94 suggests significant overlap in exposure. VWCG.DE charges 0.10%/yr vs 0.25%/yr for MEU.MI.

Performance

VWCG.DE vs. MEU.MI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VWCG.DE) and Amundi MSCI Europe II UCITS ETF (MEU.MI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWCG.DE achieves a 7.34% return, which is significantly higher than MEU.MI's 6.91% return.

VWCG.DE

• 1D: 0.57%
• 1M: 1.01%
• YTD: 7.34%
• 6M: 9.93%
• 1Y: 16.18%
• 3Y*: 14.09%
• 5Y*: 9.96%
• 10Y*: —

MEU.MI

• 1D: 0.32%
• 1M: 0.87%
• YTD: 6.91%
• 6M: 9.73%
• 1Y: 15.68%
• 3Y*: 13.53%
• 5Y*: 9.78%
• 10Y*: 9.00%

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

VWCG.DE vs. MEU.MI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VWCG.DE Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating	7.34%	20.45%	8.94%	16.07%	-9.71%	24.74%	-2.59%	11.39%
MEU.MI Amundi MSCI Europe II UCITS ETF	6.91%	20.93%	8.17%	15.92%	-9.82%	25.20%	-3.35%	10.48%

Correlation

The correlation between VWCG.DE and MEU.MI 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	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 5, 2019	0.94

The correlation between VWCG.DE and MEU.MI has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.

Return for Risk

VWCG.DE vs. MEU.MI — Risk / Return Rank

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

VWCG.DE

VWCG.DE Risk / Return Rank: 37
VWCG.DE Sharpe Ratio Rank: 36
VWCG.DE Sortino Ratio Rank: 36
VWCG.DE Omega Ratio Rank: 36
VWCG.DE Calmar Ratio Rank: 34
VWCG.DE Martin Ratio Rank: 41

MEU.MI

MEU.MI Risk / Return Rank: 36
MEU.MI Sharpe Ratio Rank: 35
MEU.MI Sortino Ratio Rank: 36
MEU.MI Omega Ratio Rank: 36
MEU.MI Calmar Ratio Rank: 34
MEU.MI Martin Ratio Rank: 39

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.

VWCG.DE vs. MEU.MI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VWCG.DE) and Amundi MSCI Europe II UCITS ETF (MEU.MI). 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.

	VWCG.DE	MEU.MI	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.24	+0.02
Sortino ratio: Return per unit of downside risk	1.86	1.82	+0.04
Omega ratio: Gain probability vs. loss probability	1.24	1.23	+0.01
Calmar ratio: Return relative to maximum drawdown	1.70	1.66	+0.04
Martin ratio: Return relative to average drawdown	6.40	6.05	+0.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWCG.DE vs. MEU.MI - Sharpe Ratio Comparison

The current VWCG.DE Sharpe Ratio is 1.26, which is comparable to the MEU.MI Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of VWCG.DE and MEU.MI, 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

	VWCG.DE	MEU.MI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	1.24	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.69	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.32	+0.32

Drawdowns

VWCG.DE vs. MEU.MI - Drawdown Comparison

The maximum VWCG.DE drawdown since its inception was -35.68%, smaller than the maximum MEU.MI drawdown of -58.23%. Use the drawdown chart below to compare losses from any high point for VWCG.DE and MEU.MI.

Drawdown Indicators

	VWCG.DE	MEU.MI	Difference
Max Drawdown Largest peak-to-trough decline	-35.68%	-58.23%	+22.55%
Max Drawdown (1Y) Largest decline over 1 year	-9.58%	-9.59%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-16.07%	-16.42%	+0.35%
Max Drawdown (5Y) Largest decline over 5 years	-20.10%	-19.66%	-0.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.18%	—
Current Drawdown Current decline from peak	-1.51%	-1.84%	+0.33%
Average Drawdown Average peak-to-trough decline	-5.10%	-11.83%	+6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	2.63%	-0.08%

Volatility

VWCG.DE vs. MEU.MI - Volatility Comparison

Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VWCG.DE) and Amundi MSCI Europe II UCITS ETF (MEU.MI) have volatilities of 4.33% and 4.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWCG.DE	MEU.MI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	4.18%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	10.64%	10.62%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	12.91%	12.87%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.29%	14.35%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	15.58%	+1.51%

VWCG.DE vs. MEU.MI - Expense Ratio Comparison

VWCG.DE has a 0.10% expense ratio, which is lower than MEU.MI'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

VWCG.DE vs. MEU.MI - Dividend Comparison

Neither VWCG.DE nor MEU.MI has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEU.MI Amundi MSCI Europe II UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.70%	3.28%	3.78%	3.10%	3.37%	3.53%
VWCG.DE Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VWCG.DE and MEU.MI in my portfolio?

With a correlation of 0.99, VWCG.DE and MEU.MI 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.

Which ETF is better, VWCG.DE or MEU.MI?

On fees, VWCG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VWCG.DE or MEU.MI?

VWCG.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for MEU.MI.

What is the main difference between VWCG.DE and MEU.MI?

VWCG.DE tracks FTSE Developed Europe, while MEU.MI tracks MSCI Europe index. They also come from different issuers: Vanguard and Amundi. Their fees differ too: 0.10% for VWCG.DE and 0.25% for MEU.MI.