FEUZ vs. VGK

Last updated Jun 24, 2026

FEUZ (First Trust Eurozone AlphaDEX ETF) and VGK (Vanguard FTSE Europe ETF) are both Europe Equities funds - FEUZ tracks the NASDAQ AlphaDEX Eurozone Index while VGK tracks the FTSE Developed Europe All Cap Index. Both are passively managed. Over the past 10 years, FEUZ returned 11.16%/yr vs 10.38%/yr for VGK. A 0.80 correlation means they provide meaningful diversification when combined. FEUZ charges 0.80%/yr vs 0.06%/yr for VGK.

Performance

FEUZ vs. VGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Eurozone AlphaDEX ETF (FEUZ) and Vanguard FTSE Europe ETF (VGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEUZ achieves a 9.90% return, which is significantly higher than VGK's 6.16% return. Over the past 10 years, FEUZ has outperformed VGK with an annualized return of 11.16%, while VGK has yielded a comparatively lower 10.38% annualized return.

FEUZ

• 1D: -0.72%
• 1M: -0.37%
• YTD: 9.90%
• 6M: 10.07%
• 1Y: 29.77%
• 3Y*: 23.49%
• 5Y*: 10.32%
• 10Y*: 11.16%

VGK

• 1D: -1.24%
• 1M: -0.13%
• YTD: 6.16%
• 6M: 6.16%
• 1Y: 19.10%
• 3Y*: 16.76%
• 5Y*: 8.57%
• 10Y*: 10.38%

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

FEUZ vs. VGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEUZ First Trust Eurozone AlphaDEX ETF	9.90%	56.34%	1.64%	17.24%	-19.83%	11.93%	5.04%	22.06%	-20.61%	36.70%
VGK Vanguard FTSE Europe ETF	6.16%	35.83%	1.88%	20.19%	-15.98%	16.89%	5.43%	24.85%	-14.89%	26.98%

Correlation

The correlation between FEUZ and VGK is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 27, 2014	0.80

The correlation between FEUZ and VGK has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

FEUZ vs. VGK - Sectors Allocation Comparison

Sectors	FEUZ	VGK
Industrials	28.1%	19.3%
Financial Services	10.6%	23.6%
Energy	10.0%	5.3%
Consumer Cyclical	9.7%	6.8%
Utilities	7.9%	4.7%
Basic Materials	7.7%	5.3%
Technology	6.6%	8.2%
Real Estate	5.7%	1.5%
Consumer Defensive	5.2%	8.4%
Healthcare	5.0%	11.9%
Communication Services	3.6%	3.3%

Return for Risk

FEUZ vs. VGK — Risk / Return Rank

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

FEUZ

FEUZ Risk / Return Rank: 53
FEUZ Sharpe Ratio Rank: 54
FEUZ Sortino Ratio Rank: 52
FEUZ Omega Ratio Rank: 52
FEUZ Calmar Ratio Rank: 52
FEUZ Martin Ratio Rank: 56

VGK

VGK Risk / Return Rank: 35
VGK Sharpe Ratio Rank: 35
VGK Sortino Ratio Rank: 35
VGK Omega Ratio Rank: 34
VGK Calmar Ratio Rank: 33
VGK Martin Ratio Rank: 39

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.

FEUZ vs. VGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Eurozone AlphaDEX ETF (FEUZ) and Vanguard FTSE Europe ETF (VGK). 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.

	FEUZ	VGK	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.21	+0.49
Sortino ratio: Return per unit of downside risk	2.35	1.79	+0.56
Omega ratio: Gain probability vs. loss probability	1.30	1.22	+0.09
Calmar ratio: Return relative to maximum drawdown	2.39	1.59	+0.81
Martin ratio: Return relative to average drawdown	9.02	5.89	+3.14

FEUZ vs. VGK - Sharpe Ratio Comparison

The current FEUZ Sharpe Ratio is 1.71, which is higher than the VGK Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of FEUZ and VGK, 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

FEUZ vs. VGK - Drawdown Comparison

The maximum FEUZ drawdown since its inception was -48.08%, smaller than the maximum VGK drawdown of -63.61%. Use the drawdown chart below to compare losses from any high point for FEUZ and VGK.

Drawdown Indicators

	FEUZ	VGK	Difference
Max Drawdown Largest peak-to-trough decline	-48.08%	-63.61%	+15.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.49%	-12.09%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-18.02%	-14.31%	-3.71%
Max Drawdown (5Y) Largest decline over 5 years	-38.64%	-32.74%	-5.90%
Max Drawdown (10Y) Largest decline over 10 years	-48.08%	-37.24%	-10.84%
Current Drawdown Current decline from peak	-2.62%	-1.91%	-0.71%
Average Drawdown Average peak-to-trough decline	-10.45%	-13.31%	+2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.25%	+0.06%

Volatility

FEUZ vs. VGK - Volatility Comparison

First Trust Eurozone AlphaDEX ETF (FEUZ) and Vanguard FTSE Europe ETF (VGK) have volatilities of 4.88% and 4.96%, 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.

Volatility by Period

	FEUZ	VGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.88%	4.96%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	13.38%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	15.81%	+1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.99%	17.96%	+4.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	18.56%	+2.95%

FEUZ vs. VGK - Expense Ratio Comparison

FEUZ has a 0.80% expense ratio, which is higher than VGK's 0.06% expense ratio.

Dividends

FEUZ vs. VGK - Dividend Comparison

FEUZ's dividend yield for the trailing twelve months is around 2.40%, less than VGK's 2.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEUZ First Trust Eurozone AlphaDEX ETF	2.40%	2.81%	2.01%	2.95%	3.14%	2.52%	1.46%	1.93%	2.46%	1.29%	2.12%	1.09%
VGK Vanguard FTSE Europe ETF	2.95%	2.86%	3.61%	3.15%	3.25%	3.05%	2.11%	3.27%	3.95%	2.70%	3.52%	3.25%

Frequently Asked Questions

Can I hold both FEUZ and VGK in my portfolio?

FEUZ and VGK have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEUZ or VGK?

VGK has higher volatility (4.96%) compared to FEUZ (4.88%). In terms of maximum drawdown, FEUZ dropped -48.08% vs VGK's -63.61%.

Which ETF is better, FEUZ or VGK?

On 10-year performance, FEUZ leads with 11.16% vs 10.38% for VGK. On fees, VGK is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEUZ or VGK?

Over the 10-year period, FEUZ has performed better with a 11.16% return vs 10.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEUZ or VGK?

VGK is cheaper with a 0.06% expense ratio, compared with 0.80% for FEUZ.

Which ETF pays a higher dividend yield, FEUZ or VGK?

VGK has the higher dividend yield at 2.95%, compared with 2.40% for FEUZ.

What is the main difference between FEUZ and VGK?

FEUZ tracks NASDAQ AlphaDEX Eurozone Index, while VGK tracks FTSE Developed Europe All Cap Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.80% for FEUZ and 0.06% for VGK.

Which has better risk-adjusted returns?

FEUZ currently has the higher Sharpe Ratio (1.71 vs 1.21), 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.