Vanguard mit neuem Angebot: Neuer Welt-ETF mit 10.000 Aktien: Lohnt sich der Wechsel?

Vanguard has recently launched a new global equity ETF, the Vanguard FTSE Global All-Cap UCITS ETF, offering investors improved diversification at lower costs compared to similar funds. This ETF, available in a reinvestment or dividend-paying version, has quickly attracted investors, with the reinvestment variant collecting over $2.5 billion in assets within weeks. The Foundation Warentest examined the merits of this new index fund.

The Vanguard FTSE Global All-Cap ETF covers a broader range of companies than other popular global indexes, such as the FTSE All-World and MSCI World, which include around 4,300 and 1,300 large and mid-cap stocks, respectively. The Vanguard ETF includes over 10,000 globally diversified companies, weighted by their market capitalization. This significant increase in diversification reduces market risk, a key advantage of the fund.

However, the foundation notes that many investors overestimate the extent of this diversification. While the FTSE Global All-Cap index covers roughly 99% of the market, the incremental benefit of each additional stock diminishes. Even with nearly double the number of stocks, the index's coverage doesn't surpass 99%. Additionally, the inclusion of many small-cap stocks has a disadvantage, as they tend to be less liquid, which may lead to issues or price disadvantages when selling shares.

Nevertheless, the foundation still considers the new Vanguard ETF a suitable alternative for investors seeking exposure to emerging markets and smaller companies in their portfolios. Those already holding global ETFs need not switch immediately. The tax inefficiencies resulting from selling shares would be minimized through the tax advantages of holding the ETF long-term, making the retention of existing shares and adjusting future investments towards the Global All-Cap ETF a more beneficial strategy.