VWCE vs AGGH: returns, risk and drawdowns compared
Vanguard FTSE All-World UCITS ETF (Acc) against iShares Core Global Aggregate Bond UCITS ETF EUR Hedged (Acc), over the same 7 years (August 2019 to October 2026) with dividends reinvested.
Data updated October 2026
From August 2019 to October 2026, VWCE returned 12.8% a year and AGGH 1.0% a year on average, so VWCE came out ahead by 13.7% a year. VWCE was the more volatile of the two (13.1% against 4.6% a year), and the deepest falls from a month-end high were 19.1% for VWCE and 17.2% for AGGH.
The correlation of monthly returns was 0.39: they moved together only in part. Over 52 rolling 3-year periods, VWCE did better in 100% and AGGH in 0%.
Side by side
| VWCE | AGGH | |
|---|---|---|
| Annual return (CAGR) | +12.8% | −1.0% |
| Total return | +139% | −7% |
| Annual volatility | 13.1% | 4.6% |
| Maximum drawdown (month-end) | −19.1% | −17.2% |
| Worst month | −11.3% | −3.4% |
| Best month | +9.4% | +3.3% |
| Positive months | 63% | 52% |
| Best year | 2021: +28.6% | 2023: +4.5% |
| Worst year | 2022: −13.5% | 2022: −13.4% |
| 1-year return | +22.0% | −2.6% |
| 5 years, a year | +11.5% | −1.6% |
| 10 years, a year | — | — |
| Trading currency | EUR | EUR |
First nine rows: the same 87 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: VWCE vs AGGH
Returns by calendar year
| Year | VWCE | AGGH |
|---|---|---|
| 2025 | +9.2% | +2.4% |
| 2024 | +24.4% | +1.7% |
| 2023 | +18.2% | +4.5% |
| 2022 | −13.5% | −13.4% |
| 2021 | +28.6% | −2.7% |
| 2020 | +5.4% | +3.9% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, VWCE or AGGH?
From August 2019 to October 2026, VWCE returned +12.8% a year and AGGH −1.0% a year, with dividends reinvested. Over rolling 3-year periods VWCE did better in 100% of cases. Past returns do not predict future returns.
Which is riskier, VWCE or AGGH?
Over the same months annual volatility was 13.1% for VWCE and 4.6% for AGGH; the deepest fall from a month-end high was 19.1% and 17.2%, and the worst single month −11.3% and −3.4%.
How correlated are VWCE and AGGH?
The correlation of their monthly returns was 0.39: they moved together only in part. Combining them has historically smoothed the ups and downs of either one alone.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.