Vanguard FTSE All-World UCITS ETF (VWCE / VWRL): the whole world in one ETF

Key facts

Two share classes of the same fund: VWCE reinvests dividends, VWRL pays them out quarterly. Both track the FTSE All-World (about 4,260 companies in some 48 countries) and cost 0.14% a year since Vanguard cut the fee in July 2026.

Checked on 28 Sept 2026. Sources: Vanguard, Vanguard. Fund size changes daily; the TER is the figure that matters for cost.

FTSE All-World vs MSCI World vs MSCI ACWI

Compared with an MSCI World ETF, it adds emerging markets and brings the US weight down from about 72% to about 62%. Compared with the MSCI ACWI, it holds far more companies for a similar country mix — and, after the 2026 cut, at a lower TER than the iShares ACWI ETF.

Data checked on 28 Sept 2026 against each issuer's product page and justETF. TER is the ongoing charge; it does not include broker commissions, spreads or custody fees. Links go to our page for that product where one exists.

VWCE or VWRL?

Same portfolio, same cost; the difference is what happens to dividends. In Spain, VWRL dividends are taxed every year as savings income, while VWCE defers everything until you sell. For someone building wealth, VWCE is usually more efficient; VWRL suits someone who wants the income.

How to buy it from Spain

On Xetra, VWCE trades in euros (the distributing class is VGWL there); on Euronext Amsterdam, as VWCE and VWRL. Many Spanish investors buy it through a European broker in euros on Xetra.

As an ETF, it is outside the Spanish tax-free switching regime: selling it to buy something else realises the gain. If that matters to you, the index-fund alternatives are listed on the index page.

Keep it in view with the rest of your money

A one-ETF portfolio is simple until it is not the only thing you own; then its weight next to cash, property and other investments is what matters.

FinBoard connects your banks and brokers and shows this position next to everything else, in one currency, so you see what share of your net worth it really is.

This is educational content, not financial advice: it explains how these products work so you can make your own decisions, and it does not recommend buying or selling any of them.