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

VWRL.L vs. VWRD.L

Last updated Jun 5, 2026

VWRL.L (Vanguard FTSE All-World UCITS ETF Distributing) and VWRD.L (Vanguard FTSE All-World UCITS ETF) are both Global Equities funds from Vanguard tracking the FTSE All-World Index. Both are passively managed. Over the past 10 years, VWRL.L returned 13.48%/yr vs 13.48%/yr for VWRD.L. Their correlation of 0.90 suggests significant overlap in exposure. VWRL.L charges 0.19%/yr vs 0.22%/yr for VWRD.L.

Performance

VWRL.L vs. VWRD.L - 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 FTSE All-World UCITS ETF (VWRD.L). 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 VWRD.L is traded in USD. To make them comparable, the VWRD.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with VWRL.L having a 11.87% return and VWRD.L slightly higher at 12.08%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: VWRL.L at 13.48% and VWRD.L at 13.48%.

VWRL.L

1D
-0.06%
1M
5.33%
YTD
11.87%
6M
12.31%
1Y
29.86%
3Y*
17.97%
5Y*
12.45%
10Y*
13.48%

VWRD.L

1D
-0.10%
1M
5.24%
YTD
12.08%
6M
12.23%
1Y
29.86%
3Y*
18.05%
5Y*
12.45%
10Y*
13.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
VWRL.L
Vanguard FTSE All-World UCITS ETF Distributing		11.87%13.99%19.59%15.61%-8.44%20.04%12.13%22.03%-4.70%13.22%
VWRD.L
Vanguard FTSE All-World UCITS ETF		12.08%13.66%19.71%16.20%-8.46%19.64%12.72%20.89%-4.35%13.61%

Correlation

The correlation between VWRL.L and VWRD.L is 0.91, 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

0.91

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

0.92

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

0.91

Correlation (10Y)
Calculated over the trailing 10-year period

0.91

Correlation (All Time)
Calculated using the full available price history since May 29, 2012

0.90

The correlation between VWRL.L and VWRD.L has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

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

Sectors
VWRL.L
VWRD.L

Technology

29.0%
30.2%

Financial Services

16.1%
16.1%

Industrials

11.0%
10.2%

Consumer Cyclical

9.4%
9.1%

Communication Services

8.8%
8.9%

Healthcare

8.0%
8.1%

Consumer Defensive

5.0%
4.9%

Energy

4.2%
4.3%

Basic Materials

3.8%
3.6%

Utilities

2.7%
2.9%

Real Estate

1.9%
1.6%

Technology

VWRL.L
29.0%
VWRD.L
30.2%

Financial Services

VWRL.L
16.1%
VWRD.L
16.1%

Industrials

VWRL.L
11.0%
VWRD.L
10.2%

Consumer Cyclical

VWRL.L
9.4%
VWRD.L
9.1%

Communication Services

VWRL.L
8.8%
VWRD.L
8.9%

Healthcare

VWRL.L
8.0%
VWRD.L
8.1%

Consumer Defensive

VWRL.L
5.0%
VWRD.L
4.9%

Energy

VWRL.L
4.2%
VWRD.L
4.3%

Basic Materials

VWRL.L
3.8%
VWRD.L
3.6%

Utilities

VWRL.L
2.7%
VWRD.L
2.9%

Real Estate

VWRL.L
1.9%
VWRD.L
1.6%

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Vanguard FTSE All-World UCITS ETF Distributing

Vanguard FTSE All-World UCITS 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 VWRD.L:
VWRD.L vs. VWRP.LVWRD.L vs. IWDA.LVWRD.L vs. VOOVWRD.L vs. JEPQVWRD.L vs. JEPG.LVWRD.L vs. EGLN.LVWRD.L vs. SPY

Return for Risk

VWRL.L vs. VWRD.L — 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: 8787
Sharpe Ratio Rank
VWRL.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
VWRL.L Omega Ratio Rank: 8989
Omega Ratio Rank
VWRL.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
VWRL.L Martin Ratio Rank: 8484
Martin Ratio Rank
VWRD.L
VWRD.L Risk / Return Rank: 7272
Overall Rank
VWRD.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
VWRD.L Sortino Ratio Rank: 7777
Sortino Ratio Rank
VWRD.L Omega Ratio Rank: 7373
Omega Ratio Rank
VWRD.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
VWRD.L Martin Ratio Rank: 7373
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. VWRD.L - 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 FTSE All-World UCITS ETF (VWRD.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.

VWRL.LVWRD.LDifference
Sharpe ratioReturn per unit of total volatility
2.88
2.51

+0.37

Sortino ratioReturn per unit of downside risk
3.96
3.46

+0.50

Omega ratioGain probability vs. loss probability

1.55

1.47

+0.08

Calmar ratioReturn relative to maximum drawdown

4.20

4.27

-0.07

Martin ratioReturn relative to average drawdown

17.09

16.46

+0.64

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. VWRD.L - Sharpe Ratio Comparison

The current VWRL.L Sharpe Ratio is 2.88, which is comparable to the VWRD.L Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of VWRL.L and VWRD.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.

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Sharpe Ratios by Period

VWRL.LVWRD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.88

2.51

+0.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.97

0.88

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.94

0.88

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.95

0.90

+0.05

Drawdowns

VWRL.L vs. VWRD.L - Drawdown Comparison

The maximum VWRL.L drawdown since its inception was -24.98%, roughly equal to the maximum VWRD.L drawdown of -25.84%. Use the drawdown chart below to compare losses from any high point for VWRL.L and VWRD.L.

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Drawdown Indicators

VWRL.LVWRD.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.98%

-25.84%

+0.86%

Max Drawdown (1Y)

Largest decline over 1 year

-7.08%

-6.96%

-0.12%

Max Drawdown (3Y)

Largest decline over 3 years

-17.48%

-18.11%

+0.63%

Max Drawdown (5Y)

Largest decline over 5 years

-17.48%

-18.11%

+0.63%

Max Drawdown (10Y)

Largest decline over 10 years

-24.98%

-25.84%

+0.86%

Current Drawdown

Current decline from peak

-0.48%

-0.43%

-0.05%

Average Drawdown

Average peak-to-trough decline

-3.30%

-3.47%

+0.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.74%

1.81%

-0.07%

Volatility

VWRL.L vs. VWRD.L - Volatility Comparison

The current volatility for Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L) is 2.97%, while Vanguard FTSE All-World UCITS ETF (VWRD.L) has a volatility of 3.68%. This indicates that VWRL.L experiences smaller price fluctuations and is considered to be less risky than VWRD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VWRL.LVWRD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.97%

3.68%

-0.71%

Volatility (6M)

Calculated over the trailing 6-month period

7.64%

9.26%

-1.62%

Volatility (1Y)

Calculated over the trailing 1-year period

10.34%

11.85%

-1.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.86%

14.07%

-1.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.25%

15.29%

-1.04%

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

VWRL.L has a 0.19% expense ratio, which is lower than VWRD.L's 0.22% 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

VWRL.L vs. VWRD.L - Dividend Comparison

VWRL.L's dividend yield for the trailing twelve months is around 1.24%, which matches VWRD.L's 1.24% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VWRL.L
Vanguard FTSE All-World UCITS ETF Distributing		1.24%1.39%1.49%1.72%2.03%1.45%1.58%1.95%2.22%1.90%1.85%2.00%

Frequently Asked Questions

With a correlation of 0.91, VWRL.L and VWRD.L 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, VWRL.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VWRL.L is cheaper with a 0.19% expense ratio, compared with 0.22% for VWRD.L.

Both ETFs track FTSE All-World Index. Their fees differ too: 0.19% for VWRL.L and 0.22% for VWRD.L.

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