GRMN vs. VEA

Last updated Jun 25, 2026

GRMN (Garmin Ltd.) is a stock, while VEA (Vanguard FTSE Developed Markets ETF) is Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Over the past 10 years, GRMN returned 22.54%/yr vs 10.74%/yr for VEA. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

GRMN vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Garmin Ltd. (GRMN) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GRMN achieves a 19.30% return, which is significantly higher than VEA's 13.29% return. Over the past 10 years, GRMN has outperformed VEA with an annualized return of 22.54%, while VEA has yielded a comparatively lower 10.74% annualized return.

GRMN

• 1D: 1.53%
• 1M: 0.16%
• YTD: 19.30%
• 6M: 18.05%
• 1Y: 18.96%
• 3Y*: 35.63%
• 5Y*: 13.10%
• 10Y*: 22.54%

VEA

• 1D: 0.16%
• 1M: 0.27%
• YTD: 13.29%
• 6M: 12.91%
• 1Y: 28.78%
• 3Y*: 19.54%
• 5Y*: 9.47%
• 10Y*: 10.74%

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

GRMN vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GRMN Garmin Ltd.	19.30%	-0.06%	63.25%	43.12%	-30.20%	15.90%	25.86%	58.13%	9.84%	27.60%
VEA Vanguard FTSE Developed Markets ETF	13.29%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between GRMN and VEA is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007	0.54

The correlation between GRMN and VEA has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.

Return for Risk

GRMN vs. VEA — Risk / Return Rank

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

GRMN

GRMN Risk / Return Rank: 59
GRMN Sharpe Ratio Rank: 64
GRMN Sortino Ratio Rank: 56
GRMN Omega Ratio Rank: 59
GRMN Calmar Ratio Rank: 59
GRMN Martin Ratio Rank: 59

VEA

VEA Risk / Return Rank: 57
VEA Sharpe Ratio Rank: 56
VEA Sortino Ratio Rank: 55
VEA Omega Ratio Rank: 57
VEA Calmar Ratio Rank: 56
VEA Martin Ratio Rank: 59

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.

GRMN vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Garmin Ltd. (GRMN) 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.

	GRMN	VEA	Difference
Sharpe ratio: Return per unit of total volatility	0.64	1.73	-1.09
Sortino ratio: Return per unit of downside risk	1.02	2.38	-1.36
Omega ratio: Gain probability vs. loss probability	1.14	1.32	-0.18
Calmar ratio: Return relative to maximum drawdown	0.68	2.49	-1.81
Martin ratio: Return relative to average drawdown	1.47	9.55	-8.08

GRMN vs. VEA - Sharpe Ratio Comparison

The current GRMN Sharpe Ratio is 0.64, which is lower than the VEA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of GRMN and VEA, 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

GRMN vs. VEA - Drawdown Comparison

The maximum GRMN drawdown since its inception was -87.71%, which is greater than VEA's maximum drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for GRMN and VEA.

Drawdown Indicators

	GRMN	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-87.71%	-60.68%	-27.03%
Max Drawdown (1Y) Largest decline over 1 year	-27.97%	-11.63%	-16.34%
Max Drawdown (3Y) Largest decline over 3 years	-27.97%	-13.45%	-14.52%
Max Drawdown (5Y) Largest decline over 5 years	-54.63%	-29.71%	-24.92%
Max Drawdown (10Y) Largest decline over 10 years	-54.63%	-35.73%	-18.90%
Current Drawdown Current decline from peak	-9.88%	-2.91%	-6.97%
Average Drawdown Average peak-to-trough decline	-31.51%	-13.26%	-18.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.92%	3.02%	+9.90%

Volatility

GRMN vs. VEA - Volatility Comparison

The current volatility for Garmin Ltd. (GRMN) is 6.59%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 7.08%. This indicates that GRMN 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.

Volatility by Period

	GRMN	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	7.08%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	22.13%	14.73%	+7.40%
Volatility (1Y) Calculated over the trailing 1-year period	30.01%	16.78%	+13.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.44%	16.76%	+13.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.31%	17.20%	+11.11%

Dividends

GRMN vs. VEA - Dividend Comparison

GRMN's dividend yield for the trailing twelve months is around 1.56%, less than VEA's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRMN Garmin Ltd.	1.56%	1.70%	1.44%	2.27%	3.10%	1.92%	2.01%	2.30%	3.32%	3.42%	4.21%	5.41%
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

Can I hold both GRMN and VEA in my portfolio?

GRMN and VEA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRMN or VEA?

VEA has higher volatility (7.08%) compared to GRMN (6.59%). In terms of maximum drawdown, GRMN dropped -87.71% vs VEA's -60.68%.

Which has better risk-adjusted returns?

VEA currently has the higher Sharpe Ratio (1.73 vs 0.64), 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.