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IVLU vs. VEU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVLU vs. VEU

Last updated Aug 4, 2026
Documentation

IVLU (iShares MSCI International Value Factor ETF) and VEU (Vanguard FTSE All-World ex-US ETF) are both Foreign Large Cap Equities funds - IVLU tracks the MSCI World ex USA Enhanced Value Index while VEU tracks the FTSE All-World ex US Index. Both are passively managed. Over the past 10 years, IVLU returned 11.37%/yr vs 9.63%/yr for VEU. Their correlation of 0.87 means they have usually moved in the same direction. IVLU charges 0.30%/yr vs 0.04%/yr for VEU.

Performance

IVLU vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI International Value Factor ETF (IVLU) and Vanguard FTSE All-World ex-US ETF (VEU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IVLU achieves a 16.70% return, which is significantly higher than VEU's 13.83% return. Over the past 10 years, IVLU has outperformed VEU with an annualized return of 11.37%, while VEU has yielded a comparatively lower 9.63% annualized return.

IVLU

1D
0.32%
1M
3.19%
6M
8.70%
YTD
16.70%
1Y
37.44%
3Y*
24.12%
5Y*
15.65%
10Y*
11.37%
ALL TIME*
8.80%

VEU

1D
0.45%
1M
0.29%
6M
7.13%
YTD
13.83%
1Y
28.98%
3Y*
18.48%
5Y*
9.01%
10Y*
9.63%
ALL TIME*
5.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IVLU

iShares MSCI International Value Factor ETF
$36.81M$33.42M$39.54M

VEU

Vanguard FTSE All-World ex-US ETF
$232.81M$239.63M$222.48M

IVLU vs. VEU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVLU
iShares MSCI International Value Factor ETF		16.70%46.09%6.76%20.07%-5.73%15.60%-4.50%15.60%-15.10%23.10%
VEU
Vanguard FTSE All-World ex-US ETF		13.83%32.35%5.56%15.84%-15.58%8.27%11.10%21.83%-14.18%27.40%

Correlation

The correlation between IVLU and VEU is 0.89, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.89

Correlation (3Y)
Balances recent behavior with more history.

0.90

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.91

Correlation (10Y)
Provides a long-term view across more market conditions.

0.90

Correlation (All Time)
Calculated using the full available price history since Jul 15, 2015

0.87

The correlation between IVLU and VEU has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

IVLU vs. VEU - Sectors Allocation Comparison

Sectors
IVLU
VEU

Financial Services

29.4%
23.1%

Industrials

17.2%
14.7%

Healthcare

9.8%
6.8%

Technology

8.8%
23.2%

Basic Materials

7.2%
6.5%

Consumer Cyclical

7.1%
7.6%

Consumer Defensive

6.0%
4.9%

Energy

5.6%
4.3%

Utilities

3.6%
3.0%

Communication Services

3.4%
4.2%

Real Estate

1.4%
1.8%

Financial Services

IVLU
29.4%
VEU
23.1%

Industrials

IVLU
17.2%
VEU
14.7%

Healthcare

IVLU
9.8%
VEU
6.8%

Technology

IVLU
8.8%
VEU
23.2%

Basic Materials

IVLU
7.2%
VEU
6.5%

Consumer Cyclical

IVLU
7.1%
VEU
7.6%

Consumer Defensive

IVLU
6.0%
VEU
4.9%

Energy

IVLU
5.6%
VEU
4.3%

Utilities

IVLU
3.6%
VEU
3.0%

Communication Services

IVLU
3.4%
VEU
4.2%

Real Estate

IVLU
1.4%
VEU
1.8%

Compare stocks, funds, or ETFs

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

iShares MSCI International Value Factor ETF

Vanguard FTSE All-World ex-US ETF

Often compared with IVLU:
IVLU vs. DFIVIVLU vs. FIVAIVLU vs. VXUSIVLU vs. IDMOIVLU vs. DISVIVLU vs. IEFAIVLU vs. SFNNX
Often compared with VEU:
VEU vs. VXUSVEU vs. VEAVEU vs. VOOVEU vs. VGKVEU vs. SPYVEU vs. ACWXVEU vs. VTI

Return for Risk

IVLU vs. VEU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IVLU
IVLU Risk / Return Rank: 8888
Overall Rank
IVLU Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
IVLU Sortino Ratio Rank: 9191
Sortino Ratio Rank
IVLU Omega Ratio Rank: 9090
Omega Ratio Rank
IVLU Calmar Ratio Rank: 8484
Calmar Ratio Rank
IVLU Martin Ratio Rank: 8585
Martin Ratio Rank
VEU
VEU Risk / Return Rank: 7373
Overall Rank
VEU Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
VEU Sortino Ratio Rank: 7373
Sortino Ratio Rank
VEU Omega Ratio Rank: 7575
Omega Ratio Rank
VEU Calmar Ratio Rank: 7272
Calmar Ratio Rank
VEU Martin Ratio Rank: 7474
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IVLU vs. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI International Value Factor ETF (IVLU) 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.

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.

IVLUVEUDifference
Sharpe ratioReturn per unit of total volatility
2.41
1.72

+0.69

Sortino ratioReturn per unit of downside risk
3.27
2.38

+0.89

Omega ratioGain probability vs. loss probability

1.43

1.32

+0.11

Calmar ratioReturn relative to maximum drawdown

3.22

2.55

+0.67

Martin ratioReturn relative to average drawdown

12.31

9.31

+3.00

IVLU vs. VEU - Sharpe Ratio Comparison

The current IVLU Sharpe Ratio is 2.41, which is higher than the VEU Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of IVLU 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.

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Drawdowns

IVLU vs. VEU - Drawdown Comparison

The maximum IVLU drawdown since its inception was -41.85%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for IVLU and VEU.

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Drawdown Indicators

IVLUVEUDifference

Max Drawdown

Largest peak-to-trough decline

-41.85%

-61.52%

+19.67%

Max Drawdown (1Y)

Largest decline over 1 year

-11.69%

-11.43%

-0.26%

Max Drawdown (3Y)

Largest decline over 3 years

-15.48%

-13.69%

-1.79%

Max Drawdown (5Y)

Largest decline over 5 years

-26.04%

-29.14%

+3.10%

Max Drawdown (10Y)

Largest decline over 10 years

-41.85%

-34.98%

-6.87%

Current Drawdown

Current decline from peak

-0.23%

-2.36%

+2.13%

Average Drawdown

Average peak-to-trough decline

-8.48%

-13.04%

+4.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.05%

3.12%

-0.07%

Volatility

IVLU vs. VEU - Volatility Comparison

The current volatility for iShares MSCI International Value Factor ETF (IVLU) is 4.80%, while Vanguard FTSE All-World ex-US ETF (VEU) has a volatility of 5.32%. This indicates that IVLU 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.

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Volatility by Period

IVLUVEUDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.80%

5.32%

-0.52%

Volatility (6M)

Calculated over the trailing 6-month period

13.35%

15.02%

-1.67%

Volatility (1Y)

Calculated over the trailing 1-year period

15.64%

16.96%

-1.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.53%

16.37%

+0.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.39%

17.08%

+0.31%

IVLU vs. VEU - Expense Ratio Comparison

IVLU has a 0.30% expense ratio, which is higher than VEU's 0.04% expense ratio.

Dividends

IVLU vs. VEU - Dividend Comparison

IVLU's dividend yield for the trailing twelve months is around 3.22%, more than VEU's 2.54% yield.

PositionTTM20252024202320222021202020192018201720162015
IVLU
iShares MSCI International Value Factor ETF		3.22%3.71%4.46%4.69%3.59%3.47%2.05%3.53%2.82%2.87%2.53%0.93%
VEU
Vanguard FTSE All-World ex-US ETF		2.54%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

IVLU 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.

VEU has higher volatility (5.32%) compared to IVLU (4.80%). In terms of maximum drawdown, IVLU dropped -41.85% vs VEU's -61.52%.

On 10-year performance, IVLU leads with 11.37% vs 9.63% for VEU. On fees, VEU is cheaper at 0.04% per year. On volatility, IVLU has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IVLU has performed better with a 11.37% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VEU is cheaper with a 0.04% expense ratio, compared with 0.30% for IVLU.

IVLU has the higher dividend yield at 3.22%, compared with 2.54% for VEU.

IVLU tracks MSCI World ex USA Enhanced Value Index, while VEU tracks FTSE All-World ex US Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.30% for IVLU and 0.04% for VEU.

IVLU currently has the higher Sharpe Ratio (2.41 vs 1.72), 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.

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