VYM vs. FWRA.L

Last updated Jun 9, 2026

VYM (Vanguard High Dividend Yield ETF) and FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) are both exchange-traded funds - VYM is a Dividend fund tracking the FTSE High Dividend Yield Index, while FWRA.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past year, VYM returned 24.30% vs 25.89% for FWRA.L. At a 0.42 correlation, their price movements are largely independent. VYM charges 0.04%/yr vs 0.15%/yr for FWRA.L.

Performance

VYM vs. FWRA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High Dividend Yield ETF (VYM) and Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VYM achieves a 10.82% return, which is significantly higher than FWRA.L's 9.27% return.

VYM

• 1D: -0.08%
• 1M: 1.71%
• YTD: 10.82%
• 6M: 10.58%
• 1Y: 24.30%
• 3Y*: 17.89%
• 5Y*: 11.33%
• 10Y*: 11.70%

FWRA.L

• 1D: -0.43%
• 1M: 0.22%
• YTD: 9.27%
• 6M: 10.72%
• 1Y: 25.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VYM vs. FWRA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VYM Vanguard High Dividend Yield ETF	10.82%	15.42%	17.60%	9.12%
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation	9.27%	22.42%	18.04%	10.02%

Correlation

The correlation between VYM and FWRA.L is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023	0.42

The correlation between VYM and FWRA.L has been stable across timeframes, ranging from 0.42 to 0.50 - a consistent structural relationship.

VYM vs. FWRA.L - Sectors Allocation Comparison

Sectors	VYM	FWRA.L
Financial Services	20.5%	16.4%
Technology	17.7%	29.1%
Healthcare	12.2%	7.6%
Industrials	12.1%	11.0%
Energy	9.8%	4.3%
Consumer Defensive	8.1%	5.0%
Consumer Cyclical	6.7%	9.4%
Utilities	5.7%	2.6%
Communication Services	3.5%	8.9%
Basic Materials	3.5%	3.9%
Real Estate	0.0%	1.9%

Return for Risk

VYM vs. FWRA.L — Risk / Return Rank

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

VYM

VYM Risk / Return Rank: 80
VYM Sharpe Ratio Rank: 81
VYM Sortino Ratio Rank: 83
VYM Omega Ratio Rank: 80
VYM Calmar Ratio Rank: 78
VYM Martin Ratio Rank: 78

FWRA.L

FWRA.L Risk / Return Rank: 71
FWRA.L Sharpe Ratio Rank: 70
FWRA.L Sortino Ratio Rank: 76
FWRA.L Omega Ratio Rank: 72
FWRA.L Calmar Ratio Rank: 65
FWRA.L Martin Ratio Rank: 72

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.

VYM vs. FWRA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High Dividend Yield ETF (VYM) and Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.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.

	VYM	FWRA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.07	+0.29
Sortino ratio: Return per unit of downside risk	3.36	3.08	+0.28
Omega ratio: Gain probability vs. loss probability	1.43	1.38	+0.04
Calmar ratio: Return relative to maximum drawdown	3.65	2.95	+0.70
Martin ratio: Return relative to average drawdown	13.64	12.33	+1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VYM vs. FWRA.L - Sharpe Ratio Comparison

The current VYM Sharpe Ratio is 2.36, which is comparable to the FWRA.L Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of VYM and FWRA.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

	VYM	FWRA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.07	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	1.51	-1.01

Drawdowns

VYM vs. FWRA.L - Drawdown Comparison

The maximum VYM drawdown since its inception was -56.98%, which is greater than FWRA.L's maximum drawdown of -16.50%. Use the drawdown chart below to compare losses from any high point for VYM and FWRA.L.

Drawdown Indicators

	VYM	FWRA.L	Difference
Max Drawdown Largest peak-to-trough decline	-56.98%	-16.50%	-40.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.69%	-8.78%	+2.09%
Max Drawdown (3Y) Largest decline over 3 years	-14.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.21%	—	—
Current Drawdown Current decline from peak	-1.89%	-2.75%	+0.86%
Average Drawdown Average peak-to-trough decline	-7.19%	-1.92%	-5.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	2.10%	-0.31%

Volatility

VYM vs. FWRA.L - Volatility Comparison

The current volatility for Vanguard High Dividend Yield ETF (VYM) is 2.82%, while Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) has a volatility of 3.90%. This indicates that VYM experiences smaller price fluctuations and is considered to be less risky than FWRA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VYM	FWRA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	3.90%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	7.73%	9.98%	-2.25%
Volatility (1Y) Calculated over the trailing 1-year period	10.35%	12.55%	-2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.98%	13.63%	+0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.35%	13.63%	+2.72%

VYM vs. FWRA.L - Expense Ratio Comparison

VYM has a 0.04% expense ratio, which is lower than FWRA.L's 0.15% 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

VYM vs. FWRA.L - Dividend Comparison

VYM's dividend yield for the trailing twelve months is around 2.22%, while FWRA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VYM Vanguard High Dividend Yield ETF	2.22%	2.44%	2.74%	3.12%	3.01%	2.76%	3.18%	3.03%	3.40%	2.80%	2.91%	3.22%

Frequently Asked Questions

Can I hold both VYM and FWRA.L in my portfolio?

VYM and FWRA.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VYM or FWRA.L?

On fees, VYM is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VYM or FWRA.L?

VYM is cheaper with a 0.04% expense ratio, compared with 0.15% for FWRA.L.

What is the main difference between VYM and FWRA.L?

VYM is categorized as Dividend, while FWRA.L is Global Equities. VYM tracks FTSE High Dividend Yield Index, while FWRA.L tracks FTSE All-World Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.04% for VYM and 0.15% for FWRA.L.