Global ETFs in euros: FTSE All-World and MSCI ACWI compared
VWCE and VWRL track the FTSE All-World; IUSQ tracks the MSCI ACWI. Both indices combine developed and emerging markets with slightly different methodologies. VWCE and VWRL are the same fund in two share classes: one reinvests dividends and the other pays them out.
Daily closes from Yahoo Finance in euros (VWCE.DE, VWRL.AS, IUSQ.DE), data as of 23 October 2026. Past performance does not guarantee future results.
Two-year performance (base 100, in euros)
FTSE and MSCI classify some countries differently (South Korea, for example, is a developed market for FTSE and an emerging one for MSCI) and include a different number of stocks, but the two indices move very similarly.
What people usually compare between ETFs on the same index
Ongoing charges (TER)
What the fund charges each year, already deducted from the price. Between ETFs on the same index the differences are usually hundredths of a percent.
Tracking difference
How far the ETF actually drifts from its index in a year, including costs, securities lending and dividend taxation. It can be lower or higher than the TER.
Accumulating or distributing
Reinvesting or paying out dividends changes the tax treatment and cash flows, not the market exposure.
Replication
Full physical (buys every stock) or sampling (a representative selection). With broad indices, both usually track the index closely.
Size and liquidity
Large funds usually have tighter bid-ask spreads; in practice what counts is the liquidity of the specific listing you buy.
Domicile and broker
Almost all are domiciled in Ireland, which reduces withholding tax on US dividends. Whether the ETF is available at your broker or in a savings plan also matters.
There is no best one for everyone and this site does not recommend any. These three cover developed and emerging markets; people usually compare them on costs, dividend policy, tracking difference and availability at their broker.
What is the difference between the FTSE All-World and the MSCI World?
The MSCI World only includes developed countries; the FTSE All-World adds emerging markets and more small and mid-sized companies per country.
Accumulating or distributing?
VWCE reinvests dividends and VWRL pays them out; the portfolio is the same. The difference lies in taxation and whether you want to receive the dividend.