CAD=X vs. VEA
CAD=X (USD/CAD) is a currency, while VEA (Vanguard FTSE Developed Markets ETF) is Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Over the past 10 years, CAD=X returned 0.99%/yr vs 12.18%/yr for VEA. At a 0.25 correlation, their price movements are largely independent.
Performance
CAD=X vs. VEA - Performance Comparison
Loading charts...
Different Trading Currencies
CAD=X is traded in CAD, while VEA is traded in USD. To make them comparable, the VEA values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CAD=X achieves a 3.43% return, which is significantly lower than VEA's 20.77% return. Over the past 10 years, CAD=X has underperformed VEA with an annualized return of 0.99%, while VEA has yielded a comparatively higher 12.18% annualized return.
CAD=X
- 1D
- -0.07%
- 1M
- 2.82%
- YTD
- 3.43%
- 6M
- 2.71%
- 1Y
- 3.43%
- 3Y*
- 2.52%
- 5Y*
- 2.86%
- 10Y*
- 0.99%
VEA
- 1D
- 0.64%
- 1M
- 6.27%
- YTD
- 20.77%
- 6M
- 20.59%
- 1Y
- 40.16%
- 3Y*
- 23.79%
- 5Y*
- 13.53%
- 10Y*
- 12.18%
CAD=X vs. VEA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAD=X USD/CAD | 3.43% | -4.57% | 8.47% | -2.38% | 6.34% | -0.05% | -2.37% | -4.12% | 8.41% | -6.77% |
VEA Vanguard FTSE Developed Markets ETF | 20.77% | 28.99% | 11.88% | 15.13% | -9.98% | 11.61% | 7.11% | 17.57% | -7.58% | 17.86% |
Correlation
The correlation between CAD=X and VEA is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007 | 0.25 |
The correlation between CAD=X and VEA shifts across timeframes, from 0.23 (1 year) to 0.38 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CAD=X vs. VEA — Risk / Return Rank
CAD=X
VEA
CAD=X vs. VEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USD/CAD (CAD=X) and Vanguard FTSE Developed Markets ETF (VEA). 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.
| CAD=X | VEA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.42 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.69 | 3.56 | -2.88 |
| Martin ratioReturn relative to average drawdown | 1.52 | 14.04 | -12.53 |
Loading charts...
Drawdowns
CAD=X vs. VEA - Drawdown Comparison
The maximum CAD=X drawdown since its inception was -34.18%, smaller than the maximum VEA drawdown of -48.22%. Use the drawdown chart below to compare losses from any high point for CAD=X and VEA.
Loading charts...
Drawdown Indicators
| CAD=X | VEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.18% | -48.22% | +14.04% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -11.32% | +6.93% |
Max Drawdown (3Y)Largest decline over 3 years | -8.32% | -13.97% | +5.65% |
Max Drawdown (5Y)Largest decline over 5 years | -8.32% | -23.82% | +15.50% |
Max Drawdown (10Y)Largest decline over 10 years | -16.97% | -30.28% | +13.31% |
Current DrawdownCurrent decline from peak | -3.75% | 0.00% | -3.75% |
Average DrawdownAverage peak-to-trough decline | -14.82% | -10.49% | -4.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.87% | -0.86% |
Volatility
CAD=X vs. VEA - Volatility Comparison
The current volatility for USD/CAD (CAD=X) is 1.04%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 6.50%. This indicates that CAD=X experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CAD=X | VEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 6.50% | -5.46% |
Volatility (6M)Calculated over the trailing 6-month period | 3.21% | 14.74% | -11.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 16.89% | -12.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 17.71% | -11.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.70% | 18.48% | -11.78% |
Frequently Asked Questions
CAD=X and VEA have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEA has higher volatility (6.50%) compared to CAD=X (1.04%). In terms of maximum drawdown, CAD=X dropped -34.18% vs VEA's -48.22%.
VEA currently has the higher Sharpe Ratio (2.39 vs 0.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for CAD=X and VEA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer