FIEUX vs. VEUSX

Last updated Jun 4, 2026

FIEUX (Fidelity Europe Fund) and VEUSX (Vanguard European Stock Index Fund Admiral Shares) are both Europe Equities funds. Over the past 10 years, FIEUX returned 8.18%/yr vs 9.37%/yr for VEUSX. Their correlation of 0.93 suggests significant overlap in exposure. FIEUX charges 1.06%/yr vs 0.10%/yr for VEUSX.

Performance

FIEUX vs. VEUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Europe Fund (FIEUX) and Vanguard European Stock Index Fund Admiral Shares (VEUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FIEUX having a 7.29% return and VEUSX slightly lower at 7.08%. Over the past 10 years, FIEUX has underperformed VEUSX with an annualized return of 8.18%, while VEUSX has yielded a comparatively higher 9.37% annualized return.

FIEUX

• 1D: 0.54%
• 1M: 4.69%
• YTD: 7.29%
• 6M: 10.52%
• 1Y: 18.87%
• 3Y*: 17.12%
• 5Y*: 5.87%
• 10Y*: 8.18%

VEUSX

• 1D: 0.41%
• 1M: 3.96%
• YTD: 7.08%
• 6M: 10.13%
• 1Y: 19.62%
• 3Y*: 16.86%
• 5Y*: 8.68%
• 10Y*: 9.37%

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

FIEUX vs. VEUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIEUX Fidelity Europe Fund	7.29%	37.53%	4.21%	13.68%	-20.62%	6.63%	18.29%	24.43%	-17.22%	29.16%
VEUSX Vanguard European Stock Index Fund Admiral Shares	7.08%	35.41%	2.01%	19.99%	-16.06%	16.28%	6.43%	24.22%	-14.81%	27.04%

Correlation

The correlation between FIEUX and VEUSX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Aug 14, 2001	0.93

The correlation between FIEUX and VEUSX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

FIEUX vs. VEUSX — Risk / Return Rank

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

FIEUX

FIEUX Risk / Return Rank: 17
FIEUX Sharpe Ratio Rank: 16
FIEUX Sortino Ratio Rank: 16
FIEUX Omega Ratio Rank: 16
FIEUX Calmar Ratio Rank: 17
FIEUX Martin Ratio Rank: 21

VEUSX

VEUSX Risk / Return Rank: 19
VEUSX Sharpe Ratio Rank: 19
VEUSX Sortino Ratio Rank: 18
VEUSX Omega Ratio Rank: 18
VEUSX Calmar Ratio Rank: 18
VEUSX Martin Ratio Rank: 23

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.

FIEUX vs. VEUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Europe Fund (FIEUX) and Vanguard European Stock Index Fund Admiral Shares (VEUSX). 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.

	FIEUX	VEUSX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.24	-0.09
Sortino ratio: Return per unit of downside risk	1.70	1.80	-0.10
Omega ratio: Gain probability vs. loss probability	1.21	1.22	-0.02
Calmar ratio: Return relative to maximum drawdown	1.50	1.57	-0.07
Martin ratio: Return relative to average drawdown	5.59	5.79	-0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIEUX vs. VEUSX - Sharpe Ratio Comparison

The current FIEUX Sharpe Ratio is 1.14, which is comparable to the VEUSX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of FIEUX and VEUSX, 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

	FIEUX	VEUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.24	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.50	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.52	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.32	+0.13

Drawdowns

FIEUX vs. VEUSX - Drawdown Comparison

The maximum FIEUX drawdown since its inception was -59.96%, smaller than the maximum VEUSX drawdown of -63.28%. Use the drawdown chart below to compare losses from any high point for FIEUX and VEUSX.

Drawdown Indicators

	FIEUX	VEUSX	Difference
Max Drawdown Largest peak-to-trough decline	-59.96%	-63.28%	+3.32%
Max Drawdown (1Y) Largest decline over 1 year	-12.38%	-11.97%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.27%	-13.96%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	-38.04%	-32.72%	-5.32%
Max Drawdown (10Y) Largest decline over 10 years	-38.04%	-36.87%	-1.17%
Current Drawdown Current decline from peak	-0.48%	-1.15%	+0.67%
Average Drawdown Average peak-to-trough decline	-14.04%	-12.95%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.23%	+0.09%

Volatility

FIEUX vs. VEUSX - Volatility Comparison

Fidelity Europe Fund (FIEUX) has a higher volatility of 6.31% compared to Vanguard European Stock Index Fund Admiral Shares (VEUSX) at 5.49%. This indicates that FIEUX's price experiences larger fluctuations and is considered to be riskier than VEUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIEUX	VEUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.31%	5.49%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	14.02%	12.53%	+1.49%
Volatility (1Y) Calculated over the trailing 1-year period	16.32%	15.21%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.29%	17.38%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.94%	18.24%	-0.30%

FIEUX vs. VEUSX - Expense Ratio Comparison

FIEUX has a 1.06% expense ratio, which is higher than VEUSX's 0.10% expense ratio.

Dividends

FIEUX vs. VEUSX - Dividend Comparison

FIEUX's dividend yield for the trailing twelve months is around 2.08%, less than VEUSX's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIEUX Fidelity Europe Fund	2.08%	2.23%	3.28%	1.62%	0.00%	16.10%	1.15%	7.42%	11.93%	2.52%	1.51%	0.43%
VEUSX Vanguard European Stock Index Fund Admiral Shares	2.76%	2.84%	3.58%	3.13%	3.22%	3.02%	2.08%	3.26%	3.92%	2.70%	3.52%	3.24%

Frequently Asked Questions

Can I hold both FIEUX and VEUSX in my portfolio?

With a correlation of 0.95, FIEUX and VEUSX 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, FIEUX or VEUSX?

FIEUX has higher volatility (6.31%) compared to VEUSX (5.49%). In terms of maximum drawdown, FIEUX dropped -59.96% vs VEUSX's -63.28%.

Which has better risk-adjusted returns?

VEUSX currently has the higher Sharpe Ratio (1.24 vs 1.14), 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.