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IEV vs. VPL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEV vs. VPL

Last updated Jun 23, 2026

IEV (iShares Europe ETF) and VPL (Vanguard FTSE Pacific ETF) are both exchange-traded funds - IEV is a Europe Equities fund tracking the S&P Europe 350 Index, while VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 10 years, IEV returned 10.28%/yr vs 11.43%/yr for VPL. A 0.79 correlation means they provide meaningful diversification when combined. IEV charges 0.59%/yr vs 0.08%/yr for VPL.

Performance

IEV vs. VPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Europe ETF (IEV) and Vanguard FTSE Pacific ETF (VPL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IEV achieves a 7.36% return, which is significantly lower than VPL's 33.55% return. Over the past 10 years, IEV has underperformed VPL with an annualized return of 10.28%, while VPL has yielded a comparatively higher 11.43% annualized return.

IEV

1D
-0.04%
1M
1.28%
YTD
7.36%
6M
7.91%
1Y
21.69%
3Y*
16.78%
5Y*
9.34%
10Y*
10.28%

VPL

1D
0.32%
1M
7.88%
YTD
33.55%
6M
35.00%
1Y
58.07%
3Y*
24.51%
5Y*
11.40%
10Y*
11.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEV vs. VPL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEV
iShares Europe ETF		7.36%35.63%1.36%20.14%-14.24%16.73%4.07%24.03%-14.68%24.84%
VPL
Vanguard FTSE Pacific ETF		33.55%32.66%1.68%15.58%-15.20%1.10%16.65%18.16%-14.40%28.85%

Correlation

The correlation between IEV and VPL is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.76

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (10Y)
Calculated over the trailing 10-year period

0.80

Correlation (All Time)
Calculated using the full available price history since Mar 10, 2005

0.79

The correlation between IEV and VPL has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

IEV vs. VPL - Sectors Allocation Comparison

Sectors
IEV
VPL

Financial Services

24.5%
19.3%

Industrials

18.8%
20.5%

Healthcare

12.1%
5.0%

Technology

9.9%
22.6%

Consumer Defensive

8.6%
3.5%

Consumer Cyclical

6.8%
9.6%

Basic Materials

5.5%
7.3%

Energy

4.6%
1.6%

Utilities

4.6%
1.6%

Communication Services

3.3%
4.8%

Real Estate

0.6%
4.3%

Financial Services

IEV
24.5%
VPL
19.3%

Industrials

IEV
18.8%
VPL
20.5%

Healthcare

IEV
12.1%
VPL
5.0%

Technology

IEV
9.9%
VPL
22.6%

Consumer Defensive

IEV
8.6%
VPL
3.5%

Consumer Cyclical

IEV
6.8%
VPL
9.6%

Basic Materials

IEV
5.5%
VPL
7.3%

Energy

IEV
4.6%
VPL
1.6%

Utilities

IEV
4.6%
VPL
1.6%

Communication Services

IEV
3.3%
VPL
4.8%

Real Estate

IEV
0.6%
VPL
4.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Europe ETF

Vanguard FTSE Pacific ETF

Often compared with IEV:
IEV vs. VGKIEV vs. IEURIEV vs. SPYIEV vs. FEZIEV vs. EZUIEV vs. VOOIEV vs. SPEU
Often compared with VPL:
VPL vs. AAXJVPL vs. VEAVPL vs. VWOVPL vs. VXUSVPL vs. IPACVPL vs. VGKVPL vs. VEU

Return for Risk

IEV vs. VPL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEV
IEV Risk / Return Rank: 3939
Overall Rank
IEV Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
IEV Sortino Ratio Rank: 4040
Sortino Ratio Rank
IEV Omega Ratio Rank: 3838
Omega Ratio Rank
IEV Calmar Ratio Rank: 3636
Calmar Ratio Rank
IEV Martin Ratio Rank: 4141
Martin Ratio Rank
VPL
VPL Risk / Return Rank: 8484
Overall Rank
VPL Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
VPL Sortino Ratio Rank: 8181
Sortino Ratio Rank
VPL Omega Ratio Rank: 8585
Omega Ratio Rank
VPL Calmar Ratio Rank: 8484
Calmar Ratio Rank
VPL Martin Ratio Rank: 8484
Martin Ratio Rank
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.

IEV vs. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Europe ETF (IEV) and Vanguard FTSE Pacific ETF (VPL). 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.

IEVVPLDifference
Sharpe ratioReturn per unit of total volatility
1.37
2.73

-1.36

Sortino ratioReturn per unit of downside risk
1.99
3.46

-1.47

Omega ratioGain probability vs. loss probability

1.24

1.50

-0.25

Calmar ratioReturn relative to maximum drawdown

1.77

4.38

-2.61

Martin ratioReturn relative to average drawdown

6.47

16.73

-10.27

IEV vs. VPL - Sharpe Ratio Comparison

The current IEV Sharpe Ratio is 1.37, which is lower than the VPL Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of IEV and VPL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IEV vs. VPL - Drawdown Comparison

The maximum IEV drawdown since its inception was -63.27%, which is greater than VPL's maximum drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for IEV and VPL.

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Drawdown Indicators

IEVVPLDifference

Max Drawdown

Largest peak-to-trough decline

-63.27%

-55.49%

-7.78%

Max Drawdown (1Y)

Largest decline over 1 year

-12.31%

-13.33%

+1.02%

Max Drawdown (3Y)

Largest decline over 3 years

-14.63%

-16.35%

+1.72%

Max Drawdown (5Y)

Largest decline over 5 years

-30.60%

-31.09%

+0.49%

Max Drawdown (10Y)

Largest decline over 10 years

-36.62%

-33.90%

-2.72%

Current Drawdown

Current decline from peak

-0.95%

0.00%

-0.95%

Average Drawdown

Average peak-to-trough decline

-15.02%

-11.61%

-3.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

3.48%

-0.12%

Volatility

IEV vs. VPL - Volatility Comparison

The current volatility for iShares Europe ETF (IEV) is 4.90%, while Vanguard FTSE Pacific ETF (VPL) has a volatility of 10.07%. This indicates that IEV experiences smaller price fluctuations and is considered to be less risky than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEVVPLDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.90%

10.07%

-5.17%

Volatility (6M)

Calculated over the trailing 6-month period

13.46%

18.94%

-5.48%

Volatility (1Y)

Calculated over the trailing 1-year period

15.96%

21.45%

-5.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.63%

17.74%

-0.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.61%

17.49%

+1.12%

IEV vs. VPL - Expense Ratio Comparison

IEV has a 0.59% expense ratio, which is higher than VPL's 0.08% expense ratio.

Dividends

IEV vs. VPL - Dividend Comparison

IEV's dividend yield for the trailing twelve months is around 2.81%, more than VPL's 2.51% yield.

PositionTTM20252024202320222021202020192018201720162015
IEV
iShares Europe ETF		2.81%2.73%3.10%2.77%3.06%2.81%1.76%3.06%3.43%2.39%3.08%2.81%
VPL
Vanguard FTSE Pacific ETF		2.51%4.01%3.15%3.12%2.75%3.19%1.81%2.84%3.06%2.57%2.65%2.43%

Frequently Asked Questions

IEV and VPL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VPL has higher volatility (10.07%) compared to IEV (4.90%). In terms of maximum drawdown, IEV dropped -63.27% vs VPL's -55.49%.

On 10-year performance, VPL leads with 11.43% vs 10.28% for IEV. On fees, VPL is cheaper at 0.08% per year. On volatility, IEV has been the lower-risk option at 4.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VPL has performed better with a 11.43% return vs 10.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VPL is cheaper with a 0.08% expense ratio, compared with 0.59% for IEV.

IEV has the higher dividend yield at 2.81%, compared with 2.51% for VPL.

IEV is categorized as Europe Equities, while VPL is Asia Pacific Equities. IEV tracks S&P Europe 350 Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.59% for IEV and 0.08% for VPL.

VPL currently has the higher Sharpe Ratio (2.73 vs 1.37), 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.

Portfolio Optimizer

Find the right allocation for IEV and VPL

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