WXOZ.AX vs. VGS.AX

Last updated Jul 16, 2026

WXOZ.AX (SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware ETF) and VGS.AX (Vanguard MSCI Index International Shares ETF) are both Global Equities funds - WXOZ.AX tracks the SPDR Index while VGS.AX tracks the Vanguard MSCI Index International Shares Index. Both are passively managed. Over the past 10 years, WXOZ.AX returned 13.22%/yr vs 13.63%/yr for VGS.AX. Their correlation of 0.88 suggests significant overlap in exposure.

Performance

WXOZ.AX vs. VGS.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware ETF (WXOZ.AX) and Vanguard MSCI Index International Shares ETF (VGS.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WXOZ.AX achieves a 2.31% return, which is significantly lower than VGS.AX's 5.31% return. Both investments have delivered pretty close results over the past 10 years, with WXOZ.AX having a 13.22% annualized return and VGS.AX not far ahead at 13.63%.

WXOZ.AX

• 1D: 0.00%
• 1M: 1.39%
• 6M: 1.39%
• YTD: 2.31%
• 1Y: 10.12%
• 3Y*: 16.90%
• 5Y*: 11.68%
• 10Y*: 13.22%

VGS.AX

• 1D: -0.01%
• 1M: 1.72%
• 6M: 4.14%
• YTD: 5.31%
• 1Y: 13.66%
• 3Y*: 17.60%
• 5Y*: 12.49%
• 10Y*: 13.63%

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

WXOZ.AX vs. VGS.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WXOZ.AX SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware ETF	2.31%	13.34%	30.01%	25.81%	-16.15%	29.03%	6.06%	27.87%	0.21%	14.36%
VGS.AX Vanguard MSCI Index International Shares ETF	5.31%	12.89%	29.23%	22.54%	-12.72%	29.67%	5.76%	29.16%	-0.01%	12.95%

Correlation

The correlation between WXOZ.AX and VGS.AX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 18, 2014	0.88

The correlation between WXOZ.AX and VGS.AX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

WXOZ.AX vs. VGS.AX — Risk / Return Rank

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

WXOZ.AX

WXOZ.AX Risk / Return Rank: 29
WXOZ.AX Sharpe Ratio Rank: 33
WXOZ.AX Sortino Ratio Rank: 32
WXOZ.AX Omega Ratio Rank: 33
WXOZ.AX Calmar Ratio Rank: 22
WXOZ.AX Martin Ratio Rank: 24

VGS.AX

VGS.AX Risk / Return Rank: 42
VGS.AX Sharpe Ratio Rank: 49
VGS.AX Sortino Ratio Rank: 47
VGS.AX Omega Ratio Rank: 52
VGS.AX Calmar Ratio Rank: 30
VGS.AX Martin Ratio Rank: 32

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.

WXOZ.AX vs. VGS.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware ETF (WXOZ.AX) and Vanguard MSCI Index International Shares ETF (VGS.AX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WXOZ.AX	VGS.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.41	-0.39
Sortino ratio: Return per unit of downside risk	1.47	1.98	-0.51
Omega ratio: Gain probability vs. loss probability	1.19	1.27	-0.08
Calmar ratio: Return relative to maximum drawdown	0.84	1.28	-0.44
Martin ratio: Return relative to average drawdown	2.40	3.83	-1.43

WXOZ.AX vs. VGS.AX - Sharpe Ratio Comparison

The current WXOZ.AX Sharpe Ratio is 1.01, which is comparable to the VGS.AX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of WXOZ.AX and VGS.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WXOZ.AX vs. VGS.AX - Drawdown Comparison

The maximum WXOZ.AX drawdown since its inception was -24.28%, roughly equal to the maximum VGS.AX drawdown of -23.39%. Use the drawdown chart below to compare losses from any high point for WXOZ.AX and VGS.AX.

Drawdown Indicators

	WXOZ.AX	VGS.AX	Difference
Max Drawdown Largest peak-to-trough decline	-24.28%	-23.39%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-10.72%	-1.49%
Max Drawdown (3Y) Largest decline over 3 years	-16.95%	-13.82%	-3.13%
Max Drawdown (5Y) Largest decline over 5 years	-22.25%	-20.53%	-1.72%
Max Drawdown (10Y) Largest decline over 10 years	-24.28%	-23.39%	-0.89%
Current Drawdown Current decline from peak	-0.58%	-0.36%	-0.22%
Average Drawdown Average peak-to-trough decline	-4.23%	-4.18%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.34%	3.65%	+0.69%

Volatility

WXOZ.AX vs. VGS.AX - Volatility Comparison

SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware ETF (WXOZ.AX) and Vanguard MSCI Index International Shares ETF (VGS.AX) have volatilities of 2.26% and 2.21%, 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

	WXOZ.AX	VGS.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	2.21%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	7.83%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	10.11%	9.77%	+0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.09%	12.41%	+0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.37%	12.92%	+0.45%

Dividends

WXOZ.AX vs. VGS.AX - Dividend Comparison

WXOZ.AX's dividend yield for the trailing twelve months is around 6.00%, more than VGS.AX's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGS.AX Vanguard MSCI Index International Shares ETF	0.97%	2.49%	1.76%	1.82%	1.42%	1.75%	2.24%	2.42%	2.19%	2.25%	3.29%	2.35%
WXOZ.AX SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware ETF	6.00%	6.66%	5.97%	4.03%	13.64%	1.29%	2.06%	2.85%	2.55%	2.17%	3.32%	4.47%

Frequently Asked Questions

Can I hold both WXOZ.AX and VGS.AX in my portfolio?

WXOZ.AX and VGS.AX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between WXOZ.AX and VGS.AX?

WXOZ.AX tracks SPDR Index, while VGS.AX tracks Vanguard MSCI Index International Shares Index. They also come from different issuers: SPDR and Vanguard.