PIEL vs. VEU

Last updated Jul 12, 2026

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 0.92 suggests significant overlap in exposure. PIEL charges 0.60%/yr vs 0.04%/yr for VEU.

Performance

PIEL vs. VEU - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with PIEL having a 14.89% return and VEU slightly lower at 14.22%.

PIEL

• 1D: -0.23%
• 1M: -0.18%
• 6M: 9.81%
• YTD: 14.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VEU

• 1D: 0.40%
• 1M: 0.52%
• 6M: 10.61%
• YTD: 14.22%
• 1Y: 28.06%
• 3Y*: 19.11%
• 5Y*: 9.04%
• 10Y*: 9.85%

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

PIEL vs. VEU - Yearly Performance Comparison

	2026 (YTD)	2025
PIEL Pacer International Export Leaders ETF	14.89%	-0.43%
VEU Vanguard FTSE All-World ex-US ETF	14.22%	0.46%

Correlation

The correlation between PIEL and VEU is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.92

Return for Risk

PIEL vs. VEU — Risk / Return Rank

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

PIEL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VEU

VEU Risk / Return Rank: 62
VEU Sharpe Ratio Rank: 62
VEU Sortino Ratio Rank: 60
VEU Omega Ratio Rank: 63
VEU Calmar Ratio Rank: 60
VEU Martin Ratio Rank: 63

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.

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 ratio: Return per unit of total volatility	—	1.65	—
Sortino ratio: Return per unit of downside risk	—	2.28	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.38	—
Martin ratio: Return relative to average drawdown	—	8.99	—

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.

Drawdown Indicators

	PIEL	VEU	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-3.89%	-2.03%	-1.86%
Average Drawdown Average peak-to-trough decline	-3.42%	-13.07%	+9.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.03%	—

Volatility

Volatility by Period

	PIEL	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.81%	16.56%	+8.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.81%	16.29%	+8.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.81%	17.03%	+7.78%

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 2.54%.

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	2.54%	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

Can I hold both PIEL and VEU in my portfolio?

With a correlation of 0.92, 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.

Which ETF is better, PIEL or VEU?

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.

Which ETF is cheaper, PIEL or VEU?

VEU is cheaper with a 0.04% expense ratio, compared with 0.60% for PIEL.

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

VEU has the higher dividend yield at 2.54%, compared with 0.00% for PIEL.

What is the main difference between PIEL and VEU?

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.