IGRO vs. VEU

Last updated Jun 4, 2026

IGRO (iShares International Dividend Growth ETF) and VEU (Vanguard FTSE All-World ex-US ETF) are both Foreign Large Cap Equities funds - IGRO tracks the Morningstar Global ex-US Dividend Growth Index (Net) while VEU tracks the FTSE All-World ex US Index. Both are passively managed. Over the past 10 years, IGRO returned 8.49%/yr vs 9.94%/yr for VEU. Their correlation of 0.83 suggests significant overlap in exposure. IGRO charges 0.15%/yr vs 0.04%/yr for VEU.

Performance

IGRO vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares International Dividend Growth ETF (IGRO) 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, IGRO achieves a 5.91% return, which is significantly lower than VEU's 14.60% return. Over the past 10 years, IGRO has underperformed VEU with an annualized return of 8.49%, while VEU has yielded a comparatively higher 9.94% annualized return.

IGRO

• 1D: -0.85%
• 1M: 0.87%
• YTD: 5.91%
• 6M: 8.22%
• 1Y: 13.91%
• 3Y*: 15.21%
• 5Y*: 7.30%
• 10Y*: 8.49%

VEU

• 1D: -0.98%
• 1M: 5.07%
• YTD: 14.60%
• 6M: 17.34%
• 1Y: 32.37%
• 3Y*: 19.62%
• 5Y*: 8.67%
• 10Y*: 9.94%

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

IGRO vs. VEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGRO iShares International Dividend Growth ETF	5.91%	25.03%	7.78%	15.38%	-12.72%	9.94%	7.71%	26.13%	-14.86%	24.64%
VEU Vanguard FTSE All-World ex-US ETF	14.60%	32.35%	5.56%	15.84%	-15.58%	8.27%	11.10%	21.83%	-14.18%	27.40%

Correlation

The correlation between IGRO and VEU 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	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 20, 2016	0.83

The correlation between IGRO and VEU has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

IGRO vs. VEU - Sectors Allocation Comparison

Sectors	IGRO	VEU
Financial Services	32.0%	23.3%
Industrials	14.8%	15.7%
Healthcare	12.6%	7.1%
Consumer Defensive	10.1%	5.1%
Technology	7.8%	18.5%
Utilities	7.3%	3.2%
Consumer Cyclical	6.7%	8.2%
Basic Materials	3.6%	7.1%
Energy	2.6%	5.2%
Communication Services	1.9%	4.6%
Real Estate	0.6%	2.0%

Return for Risk

IGRO vs. VEU — Risk / Return Rank

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

IGRO

IGRO Risk / Return Rank: 30
IGRO Sharpe Ratio Rank: 30
IGRO Sortino Ratio Rank: 30
IGRO Omega Ratio Rank: 30
IGRO Calmar Ratio Rank: 28
IGRO Martin Ratio Rank: 34

VEU

VEU Risk / Return Rank: 60
VEU Sharpe Ratio Rank: 62
VEU Sortino Ratio Rank: 61
VEU Omega Ratio Rank: 62
VEU Calmar Ratio Rank: 56
VEU Martin Ratio Rank: 61

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.

IGRO vs. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares International Dividend Growth ETF (IGRO) 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.

	IGRO	VEU	Difference
Sharpe ratio: Return per unit of total volatility	1.12	2.13	-1.00
Sortino ratio: Return per unit of downside risk	1.64	2.94	-1.30
Omega ratio: Gain probability vs. loss probability	1.21	1.39	-0.18
Calmar ratio: Return relative to maximum drawdown	1.40	2.85	-1.45
Martin ratio: Return relative to average drawdown	5.22	11.06	-5.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGRO vs. VEU - Sharpe Ratio Comparison

The current IGRO Sharpe Ratio is 1.12, which is lower than the VEU Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of IGRO 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

	IGRO	VEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	2.13	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.54	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.58	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.25	+0.28

Drawdowns

IGRO vs. VEU - Drawdown Comparison

The maximum IGRO drawdown since its inception was -36.25%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for IGRO and VEU.

Drawdown Indicators

	IGRO	VEU	Difference
Max Drawdown Largest peak-to-trough decline	-36.25%	-61.52%	+25.27%
Max Drawdown (1Y) Largest decline over 1 year	-10.00%	-11.43%	+1.43%
Max Drawdown (3Y) Largest decline over 3 years	-11.13%	-13.69%	+2.56%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-29.31%	+3.27%
Max Drawdown (10Y) Largest decline over 10 years	-36.25%	-34.98%	-1.27%
Current Drawdown Current decline from peak	-2.75%	-0.98%	-1.77%
Average Drawdown Average peak-to-trough decline	-5.68%	-13.13%	+7.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	2.93%	-0.26%

Volatility

IGRO vs. VEU - Volatility Comparison

The current volatility for iShares International Dividend Growth ETF (IGRO) is 3.60%, while Vanguard FTSE All-World ex-US ETF (VEU) has a volatility of 5.59%. This indicates that IGRO 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

	IGRO	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	5.59%	-1.99%
Volatility (6M) Calculated over the trailing 6-month period	10.38%	13.04%	-2.66%
Volatility (1Y) Calculated over the trailing 1-year period	12.46%	15.29%	-2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	16.07%	-2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	17.21%	-0.35%

IGRO vs. VEU - Expense Ratio Comparison

IGRO has a 0.15% expense ratio, which is higher than VEU's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IGRO vs. VEU - Dividend Comparison

IGRO's dividend yield for the trailing twelve months is around 2.41%, less than VEU's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGRO iShares International Dividend Growth ETF	2.41%	2.51%	2.44%	2.79%	2.69%	2.27%	2.41%	2.65%	2.97%	2.43%	1.18%	0.00%
VEU Vanguard FTSE All-World ex-US ETF	2.61%	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 IGRO and VEU in my portfolio?

IGRO and VEU 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, IGRO or VEU?

VEU has higher volatility (5.59%) compared to IGRO (3.60%). In terms of maximum drawdown, IGRO dropped -36.25% vs VEU's -61.52%.

Which ETF is better, IGRO or VEU?

On 10-year performance, VEU leads with 9.94% vs 8.49% for IGRO. On fees, VEU is cheaper at 0.04% per year. On volatility, IGRO 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, IGRO or VEU?

Over the 10-year period, VEU has performed better with a 9.94% return vs 8.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGRO or VEU?

VEU is cheaper with a 0.04% expense ratio, compared with 0.15% for IGRO.

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

VEU has the higher dividend yield at 2.61%, compared with 2.41% for IGRO.

What is the main difference between IGRO and VEU?

IGRO tracks Morningstar Global ex-US Dividend Growth Index (Net), while VEU tracks FTSE All-World ex US Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for IGRO and 0.04% for VEU.

Which has better risk-adjusted returns?

VEU currently has the higher Sharpe Ratio (2.13 vs 1.12), 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.