CEFA vs. VEA

Last updated Jun 24, 2026

CEFA (Global X S&P Catholic Values Developed ex-U.S. ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both Foreign Large Cap Equities funds - CEFA tracks the S&P Developed ex-U.S. Catholic Values Index while VEA tracks the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 5 years, CEFA returned 6.74%/yr vs 9.50%/yr for VEA. Their correlation of 0.81 suggests significant overlap in exposure. CEFA charges 0.35%/yr vs 0.03%/yr for VEA.

Performance

CEFA vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P Catholic Values Developed ex-U.S. ETF (CEFA) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEFA achieves a 7.16% return, which is significantly lower than VEA's 13.11% return.

CEFA

• 1D: -2.25%
• 1M: 0.25%
• YTD: 7.16%
• 6M: 6.74%
• 1Y: 20.65%
• 3Y*: 15.05%
• 5Y*: 6.74%
• 10Y*: —

VEA

• 1D: -3.07%
• 1M: 0.11%
• YTD: 13.11%
• 6M: 12.98%
• 1Y: 30.28%
• 3Y*: 19.47%
• 5Y*: 9.50%
• 10Y*: 10.72%

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

CEFA vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF	7.16%	26.46%	5.03%	17.40%	-16.66%	7.97%	21.61%
VEA Vanguard FTSE Developed Markets ETF	13.11%	35.16%	3.15%	17.93%	-15.34%	11.66%	21.22%

Correlation

The correlation between CEFA and VEA is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 24, 2020	0.81

The correlation between CEFA and VEA shifts across timeframes, from 0.81 (all time) to 0.96 (1 year), reflecting how their relationship changes across market environments.

CEFA vs. VEA - Sectors Allocation Comparison

Sectors	CEFA	VEA
Financial Services	24.0%	22.3%
Industrials	16.5%	17.5%
Technology	12.8%	16.6%
Healthcare	9.9%	7.6%
Consumer Cyclical	8.3%	7.4%
Consumer Defensive	6.2%	5.5%
Basic Materials	5.8%	7.5%
Energy	3.7%	4.7%
Communication Services	3.2%	3.2%
Utilities	2.9%	3.0%
Real Estate	1.0%	2.5%

Return for Risk

CEFA vs. VEA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CEFA

CEFA Risk / Return Rank: 39
CEFA Sharpe Ratio Rank: 38
CEFA Sortino Ratio Rank: 39
CEFA Omega Ratio Rank: 38
CEFA Calmar Ratio Rank: 38
CEFA Martin Ratio Rank: 43

VEA

VEA Risk / Return Rank: 55
VEA Sharpe Ratio Rank: 55
VEA Sortino Ratio Rank: 53
VEA Omega Ratio Rank: 55
VEA Calmar Ratio Rank: 55
VEA Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CEFA vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P Catholic Values Developed ex-U.S. ETF (CEFA) 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.

	CEFA	VEA	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.81	-0.52
Sortino ratio: Return per unit of downside risk	1.88	2.48	-0.60
Omega ratio: Gain probability vs. loss probability	1.24	1.33	-0.10
Calmar ratio: Return relative to maximum drawdown	1.80	2.62	-0.82
Martin ratio: Return relative to average drawdown	6.57	10.06	-3.50

CEFA vs. VEA - Sharpe Ratio Comparison

The current CEFA Sharpe Ratio is 1.29, which is comparable to the VEA Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of CEFA and VEA, 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

CEFA vs. VEA - Drawdown Comparison

The maximum CEFA drawdown since its inception was -31.97%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for CEFA and VEA.

Drawdown Indicators

	CEFA	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-31.97%	-60.68%	+28.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-11.63%	+0.09%
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	-13.45%	-2.00%
Max Drawdown (5Y) Largest decline over 5 years	-31.97%	-29.71%	-2.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.73%	—
Current Drawdown Current decline from peak	-2.29%	-3.07%	+0.78%
Average Drawdown Average peak-to-trough decline	-7.00%	-13.26%	+6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.02%	+0.13%

Volatility

CEFA vs. VEA - Volatility Comparison

The current volatility for Global X S&P Catholic Values Developed ex-U.S. ETF (CEFA) is 5.65%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 7.09%. This indicates that CEFA 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.

Volatility by Period

	CEFA	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	7.09%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	13.62%	14.74%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	16.03%	16.79%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.73%	16.76%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.27%	17.21%	+0.06%

CEFA vs. VEA - Expense Ratio Comparison

CEFA has a 0.35% expense ratio, which is higher than VEA's 0.03% expense ratio.

Dividends

CEFA vs. VEA - Dividend Comparison

CEFA's dividend yield for the trailing twelve months is around 2.67%, more than VEA's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF	2.67%	2.86%	3.26%	2.35%	2.35%	3.49%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%
VEA Vanguard FTSE Developed Markets ETF	2.58%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both CEFA and VEA in my portfolio?

With a correlation of 0.96, CEFA and VEA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CEFA or VEA?

VEA has higher volatility (7.09%) compared to CEFA (5.65%). In terms of maximum drawdown, CEFA dropped -31.97% vs VEA's -60.68%.

Which ETF is better, CEFA or VEA?

On 5-year performance, VEA leads with 9.50% vs 6.74% for CEFA. On fees, VEA is cheaper at 0.03% per year. On volatility, CEFA has been the lower-risk option at 5.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CEFA or VEA?

Over the 5-year period, VEA has performed better with a 9.50% return vs 6.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CEFA or VEA?

VEA is cheaper with a 0.03% expense ratio, compared with 0.35% for CEFA.

Which ETF pays a higher dividend yield, CEFA or VEA?

CEFA has the higher dividend yield at 2.67%, compared with 2.58% for VEA.

What is the main difference between CEFA and VEA?

CEFA tracks S&P Developed ex-U.S. Catholic Values Index, while VEA tracks FTSE Developed All Cap ex US Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.35% for CEFA and 0.03% for VEA.

Which has better risk-adjusted returns?

VEA currently has the higher Sharpe Ratio (1.81 vs 1.29), 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.