Geldanlage: Weniger Klumpenrisiko mit neuem Welt-ETF? Experten sehen bessere Alternativen

In the 50 years since Vanguard launched the first index fund, the company recently introduced a new worldwide ETF called "Vanguard FTSE Global All-Cap Ucits ETF." Despite its broad coverage of 98-99% of the global investable equity market, experts argue that there are better alternatives for investors. Gerd Kommer, a wealth manager at Invest, highlights the inclusion of emerging markets and small-cap stocks as a positive aspect, stating that historically, these sectors have offered higher return expectations than developed countries.

However, the volatility in these segments is generally not as concerning when considering the overall portfolio. The ETF's annual total costs of 0.07% are also competitive, falling within the range of 0.05-0.5% seen in other worldwide ETFs. Similar to other ETFs, the Vanguard Global All-Cap Ucits ETF weights its individual stocks based on market capitalization, positioning the largest companies with the most significant weight.

While this approach has benefits, it also creates considerable exposure to US stocks and technology sectors, which have experienced substantial growth in recent years. Consequently, this ETF inherits the same three "clump risks" as other worldwide ETFs: a high US allocation, a heavy concentration in technology companies, and a significant weight on major corporations.

The broader diversification provided by the capital-weighted composition does not significantly mitigate these risks, as the smaller positions contribute minimally to the overall portfolio. Thus, there are minimal performance differences among various worldwide ETFs, as smaller positions generally do not impact overall performance.

Experts agree that investors should remain cautious about excessive exposure to specific sectors or countries, as such concentration increases vulnerability to unforeseen events that can cause significant market downturns.