AQN.TO vs. VE.TO

Last updated Aug 1, 2026

AQN.TO (Algonquin Power & Utilities Corp.) is a stock, while VE.TO (Vanguard FTSE Developed Europe All Cap Index ETF) is Europe Equities fund tracking the FTSE Developed Europe All Cap Index. Over the past 10 years, AQN.TO returned 0.72%/yr vs 10.51%/yr for VE.TO. Their 0.23 correlation means their historical movements had little consistent relationship.

Performance

AQN.TO vs. VE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Algonquin Power & Utilities Corp. (AQN.TO) and Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AQN.TO achieves a -0.79% return, which is significantly lower than VE.TO's 12.21% return. Over the past 10 years, AQN.TO has underperformed VE.TO with an annualized return of 0.72%, while VE.TO has yielded a comparatively higher 10.51% annualized return.

AQN.TO

• 1D: -2.15%
• 1M: 5.26%
• 6M: -6.34%
• YTD: -0.79%
• 1Y: 5.24%
• 3Y*: -3.17%
• 5Y*: -11.55%
• 10Y*: 0.72%
• ALL TIME*: 4.63%

VE.TO

• 1D: -0.51%
• 1M: -0.97%
• 6M: 8.40%
• YTD: 12.21%
• 1Y: 25.49%
• 3Y*: 18.48%
• 5Y*: 11.56%
• 10Y*: 10.51%
• ALL TIME*: 8.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AQN.TO Algonquin Power & Utilities Corp.	CA$21.25M	CA$22.64M	CA$22.02M
VE.TO Vanguard FTSE Developed Europe All Cap Index ETF	CA$498.87K	CA$543.52K	CA$495.20K

AQN.TO vs. VE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AQN.TO Algonquin Power & Utilities Corp.	-0.79%	38.66%	-18.70%	0.64%	-48.61%	-9.69%	18.93%	38.62%	1.80%	28.17%
VE.TO Vanguard FTSE Developed Europe All Cap Index ETF	12.21%	29.58%	10.77%	16.67%	-10.08%	15.65%	3.00%	18.14%	-7.96%	18.82%

Correlation

The correlation between AQN.TO and VE.TO is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.20
Correlation (3Y) Balances recent behavior with more history.	0.29
Correlation (5Y) Shows whether the relationship held over a longer period.	0.28
Correlation (10Y) Provides a long-term view across more market conditions.	0.25
Correlation (All Time) Calculated using the full available price history since Jul 9, 2014	0.23

Return for Risk

AQN.TO vs. VE.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AQN.TO

AQN.TO Risk / Return Rank: 50
AQN.TO Sharpe Ratio Rank: 53
AQN.TO Sortino Ratio Rank: 45
AQN.TO Omega Ratio Rank: 46
AQN.TO Calmar Ratio Rank: 53
AQN.TO Martin Ratio Rank: 53

VE.TO

VE.TO Risk / Return Rank: 66
VE.TO Sharpe Ratio Rank: 70
VE.TO Sortino Ratio Rank: 73
VE.TO Omega Ratio Rank: 69
VE.TO Calmar Ratio Rank: 54
VE.TO Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AQN.TO vs. VE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Algonquin Power & Utilities Corp. (AQN.TO) and Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AQN.TO	VE.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.20	1.60	-1.40
Sortino ratio: Return per unit of downside risk	0.44	2.33	-1.89
Omega ratio: Gain probability vs. loss probability	1.07	1.29	-0.22
Calmar ratio: Return relative to maximum drawdown	0.29	1.93	-1.63
Martin ratio: Return relative to average drawdown	0.62	7.44	-6.82

AQN.TO vs. VE.TO - Sharpe Ratio Comparison

The current AQN.TO Sharpe Ratio is 0.20, which is lower than the VE.TO Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of AQN.TO and VE.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AQN.TO vs. VE.TO - Drawdown Comparison

The maximum AQN.TO drawdown since its inception was -78.58%, which is greater than VE.TO's maximum drawdown of -31.66%. Use the drawdown chart below to compare losses from any high point for AQN.TO and VE.TO.

Drawdown Indicators

	AQN.TO	VE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.58%	-31.66%	-46.92%
Max Drawdown (1Y) Largest decline over 1 year	-16.62%	-12.68%	-3.94%
Max Drawdown (3Y) Largest decline over 3 years	-35.68%	-14.67%	-21.01%
Max Drawdown (5Y) Largest decline over 5 years	-63.79%	-27.25%	-36.54%
Max Drawdown (10Y) Largest decline over 10 years	-66.31%	-31.66%	-34.65%
Current Drawdown Current decline from peak	-51.45%	-0.97%	-50.48%
Average Drawdown Average peak-to-trough decline	-22.21%	-5.54%	-16.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.86%	3.28%	+4.58%

Volatility

AQN.TO vs. VE.TO - Volatility Comparison

Algonquin Power & Utilities Corp. (AQN.TO) has a higher volatility of 6.32% compared to Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) at 3.88%. This indicates that AQN.TO's price experiences larger fluctuations and is considered to be riskier than VE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQN.TO	VE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	3.88%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	18.79%	13.34%	+5.45%
Volatility (1Y) Calculated over the trailing 1-year period	24.72%	15.30%	+9.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.82%	15.18%	+13.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.06%	15.85%	+10.21%

Dividends

AQN.TO vs. VE.TO - Dividend Comparison

AQN.TO's dividend yield for the trailing twelve months is around 4.37%, more than VE.TO's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQN.TO Algonquin Power & Utilities Corp.	4.37%	4.32%	7.48%	6.95%	9.59%	3.65%	3.70%	3.24%	3.99%	3.59%	4.23%	4.08%
VE.TO Vanguard FTSE Developed Europe All Cap Index ETF	2.61%	2.58%	2.97%	2.97%	3.19%	2.97%	2.41%	3.79%	3.57%	2.22%	2.33%	2.47%

Frequently Asked Questions

Can I hold both AQN.TO and VE.TO in my portfolio?

AQN.TO and VE.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.