PIEL vs. VEU
PIEL (Pacer International Export Leaders ETF) and VEU (Vanguard FTSE All-World ex-US ETF) are both Foreign Large Cap Equities funds - PIEL tracks the Pacer International Export Leaders Index while VEU tracks the FTSE All-World ex US Index. Both are passively managed. Their correlation of 0.93 means they have usually moved in the same direction. PIEL charges 0.60%/yr vs 0.04%/yr for VEU.
Performance
PIEL vs. VEU - Performance Comparison
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Returns By Period
In the year-to-date period, PIEL achieves a 12.32% return, which is significantly lower than VEU's 13.33% return.
PIEL
- 1D
- -0.39%
- 1M
- -3.22%
- 6M
- 8.29%
- YTD
- 12.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
VEU
- 1D
- -0.22%
- 1M
- 0.16%
- 6M
- 7.25%
- YTD
- 13.33%
- 1Y
- 27.98%
- 3Y*
- 17.58%
- 5Y*
- 9.15%
- 10Y*
- 9.66%
- ALL TIME*
- 5.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.50K | $4.13K | $8.68K | |
| $230.24M | $229.52M | $221.55M |
PIEL vs. VEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PIEL Pacer International Export Leaders ETF | 12.32% | -0.43% |
VEU Vanguard FTSE All-World ex-US ETF | 13.33% | 0.46% |
Correlation
The correlation between PIEL and VEU is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025 | 0.93 |
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Return for Risk
PIEL vs. VEU — Risk / Return Rank
PIEL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
VEU
PIEL vs. VEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer International Export Leaders ETF (PIEL) 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.
| PIEL | VEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.46 | — |
| Martin ratioReturn relative to average drawdown | — | 9.00 | — |
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Drawdowns
PIEL vs. VEU - Drawdown Comparison
The maximum PIEL drawdown since its inception was -14.67%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for PIEL and VEU.
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Drawdown Indicators
| PIEL | VEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.67% | -61.52% | +46.85% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.43% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.98% | — |
Current DrawdownCurrent decline from peak | -6.03% | -2.79% | -3.24% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -13.05% | +9.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.12% | — |
Volatility
PIEL vs. VEU - Volatility Comparison
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Volatility by Period
| PIEL | VEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.31% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.10% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.42% | 16.96% | +7.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.42% | 16.37% | +8.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.42% | 17.08% | +7.34% |
PIEL vs. VEU - Expense Ratio Comparison
PIEL has a 0.60% expense ratio, which is higher than VEU's 0.04% expense ratio.
Dividends
PIEL vs. VEU - Dividend Comparison
PIEL has not paid dividends to shareholders, while VEU's dividend yield for the trailing twelve months is around 2.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIEL Pacer International Export Leaders ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VEU Vanguard FTSE All-World ex-US ETF | 2.56% | 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
With a correlation of 0.93, PIEL and VEU 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.
On fees, VEU is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEU is cheaper with a 0.04% expense ratio, compared with 0.60% for PIEL.
VEU has the higher dividend yield at 2.56%, compared with 0.00% for PIEL.
PIEL tracks Pacer International Export Leaders Index, while VEU tracks FTSE All-World ex US Index. They also come from different issuers: Pacer and Vanguard. Their fees differ too: 0.60% for PIEL and 0.04% for VEU.
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