DBEF vs. VEU

Last updated Jun 9, 2026

DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) and VEU (Vanguard FTSE All-World ex-US ETF) are both exchange-traded funds - DBEF is a Hedge Fund fund tracking the MSCI EAFE US Dollar Hedged Index, while VEU is a Foreign Large Cap Equities fund tracking the FTSE All-World ex US Index. Both are passively managed. Over the past 10 years, DBEF returned 12.28%/yr vs 9.86%/yr for VEU. Their correlation of 0.81 suggests significant overlap in exposure. DBEF charges 0.36%/yr vs 0.04%/yr for VEU.

Performance

DBEF vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) and Vanguard FTSE All-World ex-US ETF (VEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBEF achieves a 9.52% return, which is significantly lower than VEU's 11.45% return. Over the past 10 years, DBEF has outperformed VEU with an annualized return of 12.28%, while VEU has yielded a comparatively lower 9.86% annualized return.

DBEF

• 1D: 0.82%
• 1M: 1.44%
• YTD: 9.52%
• 6M: 11.55%
• 1Y: 22.84%
• 3Y*: 17.58%
• 5Y*: 12.96%
• 10Y*: 12.28%

VEU

• 1D: 0.90%
• 1M: -1.72%
• YTD: 11.45%
• 6M: 13.84%
• 1Y: 27.37%
• 3Y*: 18.27%
• 5Y*: 8.16%
• 10Y*: 9.86%

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

DBEF vs. VEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBEF Xtrackers MSCI EAFE Hedged Equity ETF	9.52%	23.16%	13.40%	20.15%	-5.13%	19.60%	2.03%	24.94%	-9.52%	16.74%
VEU Vanguard FTSE All-World ex-US ETF	11.45%	32.35%	5.56%	15.84%	-15.58%	8.27%	11.10%	21.83%	-14.18%	27.40%

Correlation

The correlation between DBEF and VEU is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 10, 2011	0.81

The correlation between DBEF and VEU has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

DBEF vs. VEU - Sectors Allocation Comparison

Sectors	DBEF	VEU
Financial Services	24.6%	23.3%
Industrials	19.9%	15.7%
Healthcare	10.5%	7.1%
Technology	10.3%	18.5%
Consumer Cyclical	7.5%	8.2%
Consumer Defensive	6.8%	5.1%
Basic Materials	5.9%	7.1%
Communication Services	4.5%	4.6%
Energy	4.1%	5.2%
Utilities	3.9%	3.2%
Real Estate	1.9%	2.0%

Return for Risk

DBEF vs. VEU — Risk / Return Rank

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

DBEF

DBEF Risk / Return Rank: 60
DBEF Sharpe Ratio Rank: 60
DBEF Sortino Ratio Rank: 61
DBEF Omega Ratio Rank: 61
DBEF Calmar Ratio Rank: 54
DBEF Martin Ratio Rank: 62

VEU

VEU Risk / Return Rank: 56
VEU Sharpe Ratio Rank: 57
VEU Sortino Ratio Rank: 55
VEU Omega Ratio Rank: 58
VEU Calmar Ratio Rank: 54
VEU Martin Ratio Rank: 58

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.

DBEF vs. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) and Vanguard FTSE All-World ex-US ETF (VEU). 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.

	DBEF	VEU	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.74	+0.08
Sortino ratio: Return per unit of downside risk	2.56	2.39	+0.17
Omega ratio: Gain probability vs. loss probability	1.34	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	2.44	2.41	+0.03
Martin ratio: Return relative to average drawdown	10.24	9.28	+0.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBEF vs. VEU - Sharpe Ratio Comparison

The current DBEF Sharpe Ratio is 1.83, which is comparable to the VEU Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of DBEF and VEU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DBEF	VEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.74	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	0.51	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.57	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.25	+0.30

Drawdowns

DBEF vs. VEU - Drawdown Comparison

The maximum DBEF drawdown since its inception was -32.46%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for DBEF and VEU.

Drawdown Indicators

	DBEF	VEU	Difference
Max Drawdown Largest peak-to-trough decline	-32.46%	-61.52%	+29.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-11.43%	+2.02%
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	-13.69%	-0.93%
Max Drawdown (5Y) Largest decline over 5 years	-14.95%	-29.31%	+14.36%
Max Drawdown (10Y) Largest decline over 10 years	-32.46%	-34.98%	+2.52%
Current Drawdown Current decline from peak	-1.26%	-3.69%	+2.43%
Average Drawdown Average peak-to-trough decline	-4.73%	-13.13%	+8.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	2.96%	-0.72%

Volatility

DBEF vs. VEU - Volatility Comparison

The current volatility for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) is 3.60%, while Vanguard FTSE All-World ex-US ETF (VEU) has a volatility of 6.07%. This indicates that DBEF experiences smaller price fluctuations and is considered to be less risky than VEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBEF	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	6.07%	-2.47%
Volatility (6M) Calculated over the trailing 6-month period	10.41%	13.65%	-3.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	15.80%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.78%	16.16%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.81%	17.25%	-1.44%

DBEF vs. VEU - Expense Ratio Comparison

DBEF has a 0.36% expense ratio, which is higher than VEU's 0.04% expense ratio.

Dividends

DBEF vs. VEU - Dividend Comparison

DBEF's dividend yield for the trailing twelve months is around 5.07%, more than VEU's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEF Xtrackers MSCI EAFE Hedged Equity ETF	5.07%	5.55%	1.29%	4.46%	15.85%	2.28%	2.41%	3.03%	3.22%	2.98%	2.55%	3.70%
VEU Vanguard FTSE All-World ex-US ETF	2.68%	3.09%	3.24%	3.32%	3.12%	3.08%	2.00%	3.10%	3.27%	2.66%	2.96%	2.95%

Frequently Asked Questions

Can I hold both DBEF and VEU in my portfolio?

DBEF and VEU have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBEF or VEU?

VEU has higher volatility (6.07%) compared to DBEF (3.60%). In terms of maximum drawdown, DBEF dropped -32.46% vs VEU's -61.52%.

Which ETF is better, DBEF or VEU?

On 10-year performance, DBEF leads with 12.28% vs 9.86% for VEU. On fees, VEU is cheaper at 0.04% per year. On volatility, DBEF has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBEF or VEU?

Over the 10-year period, DBEF has performed better with a 12.28% return vs 9.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBEF or VEU?

VEU is cheaper with a 0.04% expense ratio, compared with 0.36% for DBEF.

Which ETF pays a higher dividend yield, DBEF or VEU?

DBEF has the higher dividend yield at 5.07%, compared with 2.68% for VEU.

What is the main difference between DBEF and VEU?

DBEF is categorized as Hedge Fund, while VEU is Foreign Large Cap Equities. DBEF tracks MSCI EAFE US Dollar Hedged Index, while VEU tracks FTSE All-World ex US Index. They also come from different issuers: DWS and Vanguard. Their fees differ too: 0.36% for DBEF and 0.04% for VEU.

Which has better risk-adjusted returns?

DBEF currently has the higher Sharpe Ratio (1.83 vs 1.74), 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.