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VWRL.L vs. BNDW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VWRL.L vs. BNDW

Last updated Jun 9, 2026

VWRL.L (Vanguard FTSE All-World UCITS ETF Distributing) and BNDW (Vanguard Total World Bond ETF) are both exchange-traded funds - VWRL.L is a Global Equities fund tracking the FTSE All-World Index, while BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index. Both are passively managed. Over the past 5 years, VWRL.L returned 12.03%/yr vs 1.23%/yr for BNDW. At a 0.13 correlation, their price movements are largely independent. VWRL.L charges 0.19%/yr vs 0.05%/yr for BNDW.

Performance

VWRL.L vs. BNDW - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L) and Vanguard Total World Bond ETF (BNDW). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, VWRL.L achieves a 10.38% return, which is significantly higher than BNDW's 1.12% return.

VWRL.L

1D
-0.21%
1M
2.33%
YTD
10.38%
6M
10.56%
1Y
27.51%
3Y*
17.75%
5Y*
12.03%
10Y*
13.37%

BNDW

1D
-0.12%
1M
1.75%
YTD
1.12%
6M
0.24%
1Y
4.81%
3Y*
1.92%
5Y*
1.23%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VWRL.L vs. BNDW - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VWRL.L
Vanguard FTSE All-World UCITS ETF Distributing		10.38%13.99%19.60%15.61%-8.44%20.05%12.13%22.04%-9.28%
BNDW
Vanguard Total World Bond ETF		1.12%-2.46%4.21%1.82%-2.52%-1.17%3.10%4.25%2.57%

Correlation

The correlation between VWRL.L and BNDW is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.18

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (5Y)
Calculated over the trailing 5-year period

0.08

Correlation (All Time)
Calculated using the full available price history since Sep 7, 2018

0.13

VWRL.L vs. BNDW - Sectors Allocation Comparison

Sectors
VWRL.L
BNDW

Technology

29.5%
100.0%

Financial Services

16.2%

-

Industrials

10.4%

-

Consumer Cyclical

9.2%

-

Communication Services

8.7%

-

Healthcare

8.0%

-

Consumer Defensive

5.0%

-

Energy

4.2%

-

Basic Materials

3.8%

-

Utilities

2.9%

-

Real Estate

1.8%

-

Technology

VWRL.L
29.5%
BNDW
100.0%

Financial Services

VWRL.L
16.2%
BNDW

-

Industrials

VWRL.L
10.4%
BNDW

-

Consumer Cyclical

VWRL.L
9.2%
BNDW

-

Communication Services

VWRL.L
8.7%
BNDW

-

Healthcare

VWRL.L
8.0%
BNDW

-

Consumer Defensive

VWRL.L
5.0%
BNDW

-

Energy

VWRL.L
4.2%
BNDW

-

Basic Materials

VWRL.L
3.8%
BNDW

-

Utilities

VWRL.L
2.9%
BNDW

-

Real Estate

VWRL.L
1.8%
BNDW

-

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Vanguard FTSE All-World UCITS ETF Distributing

Vanguard Total World Bond ETF

Often compared with VWRL.L:
VWRL.L vs. ACWIVWRL.L vs. VHYL.ASVWRL.L vs. VHVG.LVWRL.L vs. VUSA.LVWRL.L vs. VOOVWRL.L vs. VHYG.LVWRL.L vs. VEVE.L
Often compared with BNDW:
BNDW vs. BNDBNDW vs. BNDXBNDW vs. VTBNDW vs. VGITBNDW vs. VOOBNDW vs. AGGG.LBNDW vs. VAGU.L

Return for Risk

VWRL.L vs. BNDW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VWRL.L
VWRL.L Risk / Return Rank: 8686
Overall Rank
VWRL.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
VWRL.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
VWRL.L Omega Ratio Rank: 8888
Omega Ratio Rank
VWRL.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
VWRL.L Martin Ratio Rank: 8484
Martin Ratio Rank
BNDW
BNDW Risk / Return Rank: 2929
Overall Rank
BNDW Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
BNDW Sortino Ratio Rank: 2929
Sortino Ratio Rank
BNDW Omega Ratio Rank: 2929
Omega Ratio Rank
BNDW Calmar Ratio Rank: 2929
Calmar Ratio Rank
BNDW Martin Ratio Rank: 2727
Martin Ratio Rank
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.

VWRL.L vs. BNDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L) and Vanguard Total World Bond ETF (BNDW). 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.

VWRL.LBNDWDifference
Sharpe ratioReturn per unit of total volatility
2.63
0.79

+1.84

Sortino ratioReturn per unit of downside risk
3.64
1.19

+2.45

Omega ratioGain probability vs. loss probability

1.50

1.14

+0.36

Calmar ratioReturn relative to maximum drawdown

3.87

0.84

+3.03

Martin ratioReturn relative to average drawdown

15.69

2.04

+13.65

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWRL.L vs. BNDW - Sharpe Ratio Comparison

The current VWRL.L Sharpe Ratio is 2.63, which is higher than the BNDW Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of VWRL.L and BNDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VWRL.LBNDWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.63

0.79

+1.84

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

0.15

+0.79

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.94

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.93

0.15

+0.78

Drawdowns

VWRL.L vs. BNDW - Drawdown Comparison

The maximum VWRL.L drawdown since its inception was -24.99%, which is greater than BNDW's maximum drawdown of -17.05%. Use the drawdown chart below to compare losses from any high point for VWRL.L and BNDW.

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Drawdown Indicators

VWRL.LBNDWDifference

Max Drawdown

Largest peak-to-trough decline

-24.99%

-17.05%

-7.94%

Max Drawdown (1Y)

Largest decline over 1 year

-7.08%

-5.78%

-1.30%

Max Drawdown (3Y)

Largest decline over 3 years

-17.47%

-8.76%

-8.71%

Max Drawdown (5Y)

Largest decline over 5 years

-17.47%

-14.85%

-2.62%

Max Drawdown (10Y)

Largest decline over 10 years

-24.99%

—

—

Current Drawdown

Current decline from peak

-1.81%

-8.71%

+6.90%

Average Drawdown

Average peak-to-trough decline

-3.32%

-8.79%

+5.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.75%

2.37%

-0.62%

Volatility

VWRL.L vs. BNDW - Volatility Comparison

Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L) has a higher volatility of 2.99% compared to Vanguard Total World Bond ETF (BNDW) at 1.41%. This indicates that VWRL.L's price experiences larger fluctuations and is considered to be riskier than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VWRL.LBNDWDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.99%

1.41%

+1.58%

Volatility (6M)

Calculated over the trailing 6-month period

7.71%

4.63%

+3.08%

Volatility (1Y)

Calculated over the trailing 1-year period

10.43%

6.14%

+4.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.86%

8.50%

+4.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.25%

8.95%

+5.30%

VWRL.L vs. BNDW - Expense Ratio Comparison

VWRL.L has a 0.19% expense ratio, which is higher than BNDW's 0.05% 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

VWRL.L vs. BNDW - Dividend Comparison

VWRL.L's dividend yield for the trailing twelve months is around 1.26%, less than BNDW's 4.23% yield.

PositionTTM20252024202320222021202020192018201720162015
BNDW
Vanguard Total World Bond ETF		4.23%4.12%3.90%3.73%2.02%2.58%1.56%3.05%1.66%0.00%0.00%0.00%
VWRL.L
Vanguard FTSE All-World UCITS ETF Distributing		1.26%1.39%1.49%1.72%2.03%1.45%1.58%1.95%2.22%1.90%1.95%2.00%

Frequently Asked Questions

VWRL.L and BNDW have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, BNDW is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

BNDW is cheaper with a 0.05% expense ratio, compared with 0.19% for VWRL.L.

VWRL.L is categorized as Global Equities, while BNDW is Global Bonds. VWRL.L tracks FTSE All-World Index, while BNDW tracks Bloomberg Global Aggregate Float Adjusted Composite Index. Their fees differ too: 0.19% for VWRL.L and 0.05% for BNDW.

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