CIE.NEO vs. VEF.TO
CIE.NEO (iShares International Fundamental Common Class) and VEF.TO (Vanguard FTSE Developed All Cap Ex US) are both Global Equities funds - CIE.NEO tracks the FTSE RAFI Developed ex US 1000 Index while VEF.TO tracks the Spliced FTSE Developed ex US Index Hedged in CAD. Both are passively managed. Over the past 10 years, CIE.NEO returned 11.89%/yr vs 11.33%/yr for VEF.TO. A 0.73 correlation means they provide meaningful diversification when combined. CIE.NEO charges 0.73%/yr vs 0.22%/yr for VEF.TO.
Performance
CIE.NEO vs. VEF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CIE.NEO achieves a 17.83% return, which is significantly higher than VEF.TO's 16.05% return. Both investments have delivered pretty close results over the past 10 years, with CIE.NEO having a 11.89% annualized return and VEF.TO not far behind at 11.33%.
CIE.NEO
- 1D
- -0.39%
- 1M
- 6.26%
- YTD
- 17.83%
- 6M
- 19.92%
- 1Y
- 39.49%
- 3Y*
- 25.09%
- 5Y*
- 15.50%
- 10Y*
- 11.89%
VEF.TO
- 1D
- -0.44%
- 1M
- 7.02%
- YTD
- 16.05%
- 6M
- 18.30%
- 1Y
- 33.85%
- 3Y*
- 19.04%
- 5Y*
- 12.71%
- 10Y*
- 11.33%
CIE.NEO vs. VEF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIE.NEO iShares International Fundamental Common Class | 17.83% | 34.92% | 12.83% | 15.59% | -2.83% | 14.42% | 1.33% | 11.29% | -8.19% | 16.74% |
VEF.TO Vanguard FTSE Developed All Cap Ex US | 16.05% | 24.61% | 10.91% | 18.02% | -7.54% | 18.04% | 2.10% | 22.61% | -11.96% | 16.90% |
Correlation
The correlation between CIE.NEO and VEF.TO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2011 | 0.73 |
The correlation between CIE.NEO and VEF.TO has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.
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Return for Risk
CIE.NEO vs. VEF.TO — Risk / Return Rank
CIE.NEO
VEF.TO
CIE.NEO vs. VEF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares International Fundamental Common Class (CIE.NEO) and Vanguard FTSE Developed All Cap Ex US (VEF.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.
| CIE.NEO | VEF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.50 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 3.44 | +0.14 |
| Martin ratioReturn relative to average drawdown | 14.78 | 14.77 | +0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CIE.NEO | VEF.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 2.59 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.13 | 0.95 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.73 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.71 | -0.27 |
Drawdowns
CIE.NEO vs. VEF.TO - Drawdown Comparison
The maximum CIE.NEO drawdown since its inception was -40.08%, which is greater than VEF.TO's maximum drawdown of -33.03%. Use the drawdown chart below to compare losses from any high point for CIE.NEO and VEF.TO.
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Drawdown Indicators
| CIE.NEO | VEF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.08% | -33.03% | -7.05% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -9.89% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -15.44% | -13.78% | -1.66% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -16.35% | -4.20% |
Max Drawdown (10Y)Largest decline over 10 years | -40.08% | -33.03% | -7.05% |
Current DrawdownCurrent decline from peak | -0.39% | -0.44% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -4.27% | -2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.30% | +0.38% |
Volatility
CIE.NEO vs. VEF.TO - Volatility Comparison
iShares International Fundamental Common Class (CIE.NEO) and Vanguard FTSE Developed All Cap Ex US (VEF.TO) have volatilities of 4.85% and 4.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIE.NEO | VEF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 4.94% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 11.06% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.95% | 13.11% | +0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 13.51% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 15.50% | +2.69% |
CIE.NEO vs. VEF.TO - Expense Ratio Comparison
CIE.NEO has a 0.73% expense ratio, which is higher than VEF.TO's 0.22% expense ratio.
Dividends
CIE.NEO vs. VEF.TO - Dividend Comparison
CIE.NEO's dividend yield for the trailing twelve months is around 2.12%, more than VEF.TO's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIE.NEO iShares International Fundamental Common Class | 2.12% | 2.53% | 2.82% | 3.08% | 3.32% | 2.89% | 2.15% | 3.63% | 3.12% | 2.67% | 2.80% | 2.44% |
VEF.TO Vanguard FTSE Developed All Cap Ex US | 2.05% | 2.61% | 2.55% | 2.50% | 2.21% | 2.55% | 1.73% | 2.41% | 2.64% | 2.21% | 2.31% | 2.39% |
Frequently Asked Questions
CIE.NEO and VEF.TO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEF.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEF.TO is cheaper with a 0.22% expense ratio, compared with 0.73% for CIE.NEO.
CIE.NEO tracks FTSE RAFI Developed ex US 1000 Index, while VEF.TO tracks Spliced FTSE Developed ex US Index Hedged in CAD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.73% for CIE.NEO and 0.22% for VEF.TO.
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