CIVIX vs. VEA
CIVIX (Causeway International Value Instl) and VEA (Vanguard FTSE Developed Markets ETF) are both Foreign Large Cap Equities funds - CIVIX tracks the MSCI AC World ex USA Value (Net) while VEA tracks the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 10 years, CIVIX returned 11.21%/yr vs 10.72%/yr for VEA. Their correlation of 0.89 suggests significant overlap in exposure. CIVIX charges 0.85%/yr vs 0.03%/yr for VEA.
Performance
CIVIX vs. VEA - Performance Comparison
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Returns By Period
In the year-to-date period, CIVIX achieves a 7.49% return, which is significantly lower than VEA's 13.11% return. Both investments have delivered pretty close results over the past 10 years, with CIVIX having a 11.21% annualized return and VEA not far behind at 10.72%.
CIVIX
- 1D
- 0.20%
- 1M
- 3.02%
- YTD
- 7.49%
- 6M
- 8.13%
- 1Y
- 27.44%
- 3Y*
- 18.74%
- 5Y*
- 12.71%
- 10Y*
- 11.21%
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%
CIVIX vs. VEA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIVIX Causeway International Value Instl | 7.49% | 39.13% | 3.73% | 27.29% | -6.77% | 9.12% | 5.41% | 20.11% | -18.62% | 27.20% |
VEA Vanguard FTSE Developed Markets ETF | 13.11% | 35.16% | 3.15% | 17.93% | -15.34% | 11.66% | 9.71% | 22.62% | -14.75% | 26.42% |
Correlation
The correlation between CIVIX and VEA is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007 | 0.89 |
The correlation between CIVIX and VEA has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
CIVIX vs. VEA — Risk / Return Rank
CIVIX
VEA
CIVIX vs. VEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Causeway International Value Instl (CIVIX) 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.
| CIVIX | VEA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.33 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.62 | -0.88 |
| Martin ratioReturn relative to average drawdown | 5.65 | 10.06 | -4.41 |
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Drawdowns
CIVIX vs. VEA - Drawdown Comparison
The maximum CIVIX drawdown since its inception was -60.93%, roughly equal to the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for CIVIX and VEA.
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Drawdown Indicators
| CIVIX | VEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.93% | -60.68% | -0.25% |
Max Drawdown (1Y)Largest decline over 1 year | -16.19% | -11.63% | -4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -17.30% | -13.45% | -3.85% |
Max Drawdown (5Y)Largest decline over 5 years | -28.51% | -29.71% | +1.20% |
Max Drawdown (10Y)Largest decline over 10 years | -44.87% | -35.73% | -9.14% |
Current DrawdownCurrent decline from peak | -2.17% | -3.07% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -10.98% | -13.26% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.96% | 3.02% | +1.94% |
Volatility
CIVIX vs. VEA - Volatility Comparison
The current volatility for Causeway International Value Instl (CIVIX) is 5.34%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 7.09%. This indicates that CIVIX 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.
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Volatility by Period
| CIVIX | VEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 7.09% | -1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 14.95% | 14.74% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.55% | 16.79% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.26% | 16.76% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.41% | 17.21% | +2.20% |
CIVIX vs. VEA - Expense Ratio Comparison
CIVIX has a 0.85% expense ratio, which is higher than VEA's 0.03% expense ratio.
Dividends
CIVIX vs. VEA - Dividend Comparison
CIVIX's dividend yield for the trailing twelve months is around 9.04%, more than VEA's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIVIX Causeway International Value Instl | 9.04% | 9.72% | 9.25% | 3.61% | 1.78% | 1.82% | 1.37% | 4.63% | 3.55% | 1.83% | 1.96% | 1.95% |
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
CIVIX and VEA have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEA has higher volatility (7.09%) compared to CIVIX (5.34%). In terms of maximum drawdown, CIVIX dropped -60.93% vs VEA's -60.68%.
VEA currently has the higher Sharpe Ratio (1.81 vs 1.61), 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.
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