Stazora Labs
€100 in VWCE. Here’s where it goes.
- €0.14 a year: the fund’s running costs
- €23.73 into the index’s 10 biggest companies
- €76.27 into its other 4,254 stocks, one dot each
- The index holds 503 stocks.
- Where the rest goes: full KID coming to the lab
- Where the rest goes: index figures coming to the lab
Evidence Lab · Experiment 1
“An average return of 0% means you didn’t lose money.”
True or false?
After two years: €960 invented numbers
- Start with €1,000.
- Year one: +20%. Now €1,200.
- Year two: −20%. Now €960.
- The average return was 0%. You lost 4%.
Three questions. Three labs.
Start with the question you already have.
KID Lab
What does this fund’s KID actually say?
Three pages every fund sold to private investors in the EU must publish. Read in plain words. Tap a line.
Key Information Document · VWCE
Ongoing costs 0.14%
0.14% a year. Running costs, taken from the fund’s value: the TER.
Transaction costs 0.02%
0.02% a year. The fund’s own trading costs, on top. Together 0.16%.
Risk class 4 out of 7
4 out of 7. Based on past price swings. A description, not a promise.
Recommended holding period 5 years
5 years. The period the scenarios are calculated for.
“not simple and may be difficult to understand”
“Not simple.” The document says it about the fund itself. A reason to read the figures slowly, not a sign that something is wrong.
“no compensation or guarantee scheme”
No guarantee scheme if the bank that keeps the fund’s assets fails. The protection of your broker account is a separate matter.
Figures from the Key Information Document of Vanguard FTSE All-World UCITS ETF (USD) Accumulating (VWCE), dated 29 September 2026, published on Vanguard’s website. Checked on 1 November 2026.
Found in the KID Lab
The “moderate scenario” moved. Same fund. Same index.
Every KID shows a range of possible outcomes, from stress to favourable. The moderate scenario sits in the middle.
14.80% (September 2026)
KID Lab VWCE’s KID, moderate scenario, one-year exit, average return per year after costs, from Vanguard’s monthly scenario annex (31 December 2023 to 30 September 2026). Recalculated from the past ten years every month. Checked on 1 November 2026. Past performance is not a reliable indicator of future results; scenarios are not forecasts.
Evidence Lab
Does this claim hold up?
Guess, check the maths, see what it proves.
Fact Lab
Is this figure still right?
Every month, the same four steps.
See what changedOpen the Fact Lab
12 funds
- Read each fund’s own KID or factsheet.
- Note every figure with the document date and our check date.
- Compare with last month.
- Publish what changed.
Checked in October and November 2026.
More experiments.
Experiment 2 invented numbers
This fund is cheaper. What can you conclude?
Fund A, 0.10% a year €31,472
Fund B, 0.30% a year €30,304
€10,000 for 20 years at an invented 6% a year before costs. Lower cost leaves more when all else is equal; on its own it does not make a fund the right choice.
Experiment 3 real figures
Two funds. How different are they really?
- 72.94% of MSCI World is US companies: the overlap
- 24.76% the Magnificent 7, the biggest in both
MSCI World, 30 September 2026 (MSCI’s index factsheet): 1,249 companies, 72.94% of them by weight in the US. The Magnificent 7 together weigh 24.76%: Nvidia 5.81%, Apple 5.41%, Microsoft 4.00%, Alphabet 3.99% (two share classes), Amazon 2.67%, Meta 1.76% and Tesla 1.12%. An S&P 500 fund holds about 500 large US companies, with the same seven among its biggest. So most of a world fund is the same market. The circles show the idea, not to scale. Weights change every day; this shows how an index is built, not what to buy.
Experiment 4 real figures
A world fund. Is it the whole world?
- 72.94% United States
- 5.91% Japan
- 3.41% United Kingdom
- 3.29% Canada
- 2.24% France
- 12.21% 18 other countries
MSCI World, 30 September 2026 (MSCI’s index factsheet): 23 developed countries, weighted by company size. Emerging markets such as China and India are not in it at all. An all-world index such as FTSE All-World also holds emerging markets. This shows how an index is built, not what to buy.
Experiment 5 real figures
More companies. More spread?
Weight of the 10 biggest companies
FTSE All-World, 4,264 stocks 23.73%
MSCI World, 1,249 stocks 27.85%
FTSE All-World High Dividend Yield, 2,429 stocks 11.40%
From the index factsheets (FTSE Russell, 31 August 2026; MSCI, 30 September 2026). FTSE All-World holds more than three times as many stocks as MSCI World, yet its 10 biggest still weigh almost a quarter. The number of holdings says little about how spread your money is; the weights do. This shows how indexes are built, not what to buy.
Experiment 6 real cost, invented return
0.14% a year. How much is that in euros?
€837
Without costs €32,071
With VWCE’s 0.14% a year €31,235
€10,000 for 20 years at an invented 6% a year. The 0.14% is VWCE’s real ongoing cost (its Key Information Document of 29 September 2026); its 0.02% transaction costs come on top. A small percentage adds up because it comes off every year, including off the growth of earlier years. Rounded to whole euros. This shows how costs work, not what to buy.
Experiment 7 real figures
VWCE and VWRL. What is the difference?
VWCE
Accumulating
- Index
- FTSE All-World
- Ongoing costs
- 0.14% a year
- Dividends
- Reinvested in the fund
VWRL
Distributing
- Index
- FTSE All-World
- Ongoing costs
- 0.14% a year
- Dividends
- Paid out 4 times a year, about 1.24% a year
Same index, same costs, the same companies. Only the dividends differ: one share class keeps them in the fund, the other pays them to you. Costs and payouts from both Key Information Documents of 29 September 2026; the 1.24% dividend yield from Vanguard’s product page, 31 August 2026. Past payouts are no promise of future ones; this shows how share classes work, not what to buy.
Every drop counts.
Read a KIDTry an experimentSee what changed
Stazora Labs explains how things work; it does not tell you what to buy. This is general information, not tax or investment advice.