VWRL VGWL VGWL.DE confusion

Investing / Portfolios
1

All the Ticker in the title correspond to the ETF known here as VWRL.
As you can see here:

I did move some VWRL from IB to PF and saw the “converted” to VGWL. Theoretically they are the same, but if I want to sell them, I can only sell them as VGWL (Stuttgart) right now or probably all the other markets listed by PF/SQ. Amsterdam where I got the VWRL isn’t in the list, so that’s probably the reason. It uses the VGWL Ticker.

My question: Since Stuttgart is open until 10pm, can’t people arbitrage it? On yahoo finance I can see the Stutgart one sold right now for 1 point more than the other german one. The one in Amsterdam has a similar price to the second german one (xetra I think). Does the Stuttgart one is on par with the others while the other markets are open? Is there people buying in one market and selling later on Stuttgart?

2

I had a similar experience, moved SSAC in CHF at ESB from IB to PF and they converted it to the one listed in USD. I opened a ticket at PF and they corrected it (took them a week).

3

Changing the listing generally costs 50 francs or so. They did it free of charge on some (but not all?) funds I transferred in.
Good news is that you can keep the same fund as two positions at different exchanges - so kf they want money to change the listing, just leave there and going forward buy any future shares at your target location. Works like a charme and its no issue as long as you don‘t sell.

4

I wonder why this happens though. If I don’t sell there is no difference, but if I want to sell it might be problematic. Not really on my case though, it’s hypotetical.

5

I’ve the same dilemma. Eventually I do want to sell.

What’s odd is seeing that there are vastly different numbers of asks/bids (not price) looking at the same ETF in UBS and PF, despite listing being on the SIX for both. UBS seems to have 5-10x the number of asks/bids for the same security on the same exchange than PF. How’s that possible?

6

On PF, when you click “sell” you can pick where. So you can theoretically buy on Amsterdam and sell on Stuttgart. You should probably sell where the price is higher :slight_smile:
Note that Stuttgart apparently had always higher prices lately and also stays open until 10pm.

1 Like
7

I feel many years away of ever clicking “sell” though, so it’s not a problem I need to deal with now. Clicking “buy” more often, and with more money is my current problem :wink:

Still, do you have any idea about my question above? Maybe I’m missing something obvious but can’t think of what. If we’re talking about the same security on the same exchange I wouldn’t expect the number of asks and bids to be the same, but not 5-10x different.

8

I have no idea if they are delayed or there is something else in play. It might be the market-maker that do that? I’m unsure how it work internally. You might have to try selling to really know what’s the deal.
I wouldn’t care.