VWRD.L vs. TDGB.L

Last updated Jun 5, 2026

VWRD.L (Vanguard FTSE All-World UCITS ETF) and TDGB.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both Global Equities funds - VWRD.L tracks the FTSE All-World Index while TDGB.L tracks the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Both are passively managed. Over the past 5 years, VWRD.L returned 11.25%/yr vs 16.46%/yr for TDGB.L. A 0.70 correlation means they provide meaningful diversification when combined. VWRD.L charges 0.22%/yr vs 0.38%/yr for TDGB.L.

Performance

VWRD.L vs. TDGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World UCITS ETF (VWRD.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VWRD.L is traded in USD, while TDGB.L is traded in GBP. To make them comparable, the TDGB.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VWRD.L achieves a 11.63% return, which is significantly higher than TDGB.L's 8.65% return.

VWRD.L

• 1D: -0.10%
• 1M: 4.28%
• YTD: 11.63%
• 6M: 13.01%
• 1Y: 28.61%
• 3Y*: 21.10%
• 5Y*: 11.25%
• 10Y*: 12.64%

TDGB.L

• 1D: 0.53%
• 1M: 0.06%
• YTD: 8.65%
• 6M: 12.64%
• 1Y: 28.08%
• 3Y*: 23.22%
• 5Y*: 16.46%
• 10Y*: —

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

VWRD.L vs. TDGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VWRD.L Vanguard FTSE All-World UCITS ETF	11.63%	22.38%	17.65%	22.31%	-18.19%	18.52%	16.13%	18.90%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	8.65%	40.76%	8.81%	14.81%	9.40%	18.51%	-2.72%	14.01%

Correlation

The correlation between VWRD.L and TDGB.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 21, 2019	0.70

Over the past year, the correlation between VWRD.L and TDGB.L has dropped to 0.46 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

VWRD.L vs. TDGB.L - Sectors Allocation Comparison

Sectors	VWRD.L	TDGB.L
Technology	30.2%	0.3%
Financial Services	16.1%	31.7%
Industrials	10.2%	3.9%
Consumer Cyclical	9.1%	3.8%
Communication Services	8.9%	8.7%
Healthcare	8.1%	14.4%
Consumer Defensive	4.9%	10.1%
Energy	4.3%	19.7%
Basic Materials	3.6%	1.2%
Utilities	2.9%	6.2%
Real Estate	1.6%	0.0%

Return for Risk

VWRD.L vs. TDGB.L — Risk / Return Rank

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

VWRD.L

VWRD.L Risk / Return Rank: 72
VWRD.L Sharpe Ratio Rank: 72
VWRD.L Sortino Ratio Rank: 77
VWRD.L Omega Ratio Rank: 73
VWRD.L Calmar Ratio Rank: 66
VWRD.L Martin Ratio Rank: 73

TDGB.L

TDGB.L Risk / Return Rank: 91
TDGB.L Sharpe Ratio Rank: 91
TDGB.L Sortino Ratio Rank: 92
TDGB.L Omega Ratio Rank: 91
TDGB.L Calmar Ratio Rank: 92
TDGB.L Martin Ratio Rank: 90

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.

VWRD.L vs. TDGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF (VWRD.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L). 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.

	VWRD.L	TDGB.L	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.53	-0.23
Sortino ratio: Return per unit of downside risk	3.40	3.42	-0.02
Omega ratio: Gain probability vs. loss probability	1.43	1.46	-0.04
Calmar ratio: Return relative to maximum drawdown	3.24	5.52	-2.28
Martin ratio: Return relative to average drawdown	13.61	15.71	-2.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWRD.L vs. TDGB.L - Sharpe Ratio Comparison

The current VWRD.L Sharpe Ratio is 2.30, which is comparable to the TDGB.L Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of VWRD.L and TDGB.L, 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

	VWRD.L	TDGB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.53	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	1.16	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.88	-0.06

Drawdowns

VWRD.L vs. TDGB.L - Drawdown Comparison

The maximum VWRD.L drawdown since its inception was -33.83%, smaller than the maximum TDGB.L drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for VWRD.L and TDGB.L.

Drawdown Indicators

	VWRD.L	TDGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.83%	-37.43%	+3.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.80%	-5.06%	-3.74%
Max Drawdown (3Y) Largest decline over 3 years	-16.25%	-13.67%	-2.58%
Max Drawdown (5Y) Largest decline over 5 years	-26.02%	-18.93%	-7.09%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	—	—
Current Drawdown Current decline from peak	-0.78%	-1.86%	+1.08%
Average Drawdown Average peak-to-trough decline	-4.62%	-4.33%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	1.78%	+0.32%

Volatility

VWRD.L vs. TDGB.L - Volatility Comparison

Vanguard FTSE All-World UCITS ETF (VWRD.L) has a higher volatility of 3.88% compared to VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) at 2.78%. This indicates that VWRD.L's price experiences larger fluctuations and is considered to be riskier than TDGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWRD.L	TDGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	2.78%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	9.80%	8.06%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.39%	11.05%	+1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.32%	14.21%	+1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.72%	16.79%	-1.07%

VWRD.L vs. TDGB.L - Expense Ratio Comparison

VWRD.L has a 0.22% expense ratio, which is lower than TDGB.L's 0.38% expense ratio.

Dividends

VWRD.L vs. TDGB.L - Dividend Comparison

VWRD.L's dividend yield for the trailing twelve months is around 1.24%, less than TDGB.L's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.20%	3.50%	4.27%	4.93%	4.40%	4.06%	4.16%	4.52%	0.00%	0.00%	0.00%	0.00%
VWRD.L Vanguard FTSE All-World UCITS ETF	1.24%	1.38%	1.52%	1.69%	2.05%	1.48%	1.47%	1.88%	2.29%	1.82%	2.04%	2.07%

Frequently Asked Questions

Can I hold both VWRD.L and TDGB.L in my portfolio?

VWRD.L and TDGB.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VWRD.L or TDGB.L?

On fees, VWRD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VWRD.L or TDGB.L?

VWRD.L is cheaper with a 0.22% expense ratio, compared with 0.38% for TDGB.L.

What is the main difference between VWRD.L and TDGB.L?

VWRD.L tracks FTSE All-World Index, while TDGB.L tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.22% for VWRD.L and 0.38% for TDGB.L.