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PXF vs. VEA
Performance
Return for Risk
Dividends
Drawdowns
Volatility

PXF vs. VEA

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and Vanguard FTSE Developed Markets ETF (VEA).

PXF and VEA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PXF is a passively managed fund by Invesco that tracks the performance of the FTSE RAFI Developed Markets ex-U.S. Index. It was launched on Jun 25, 2007. VEA is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed All Cap ex US Index. It was launched on Jul 20, 2007. Both PXF and VEA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PXF vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

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PXF vs. VEA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PXF
Invesco FTSE RAFI Developed Markets ex-U.S. ETF		7.42%42.51%4.54%18.46%-9.09%15.93%2.58%17.50%-14.84%24.52%
VEA
Vanguard FTSE Developed Markets ETF		2.75%35.16%3.15%17.93%-15.34%11.66%9.71%22.62%-14.75%26.42%

Returns By Period

In the year-to-date period, PXF achieves a 7.42% return, which is significantly higher than VEA's 2.75% return. Over the past 10 years, PXF has outperformed VEA with an annualized return of 10.96%, while VEA has yielded a comparatively lower 9.37% annualized return.

PXF

1D
3.20%
1M
-7.54%
YTD
7.42%
6M
16.47%
1Y
39.79%
3Y*
21.01%
5Y*
12.53%
10Y*
10.96%

VEA

1D
3.30%
1M
-8.61%
YTD
2.75%
6M
8.94%
1Y
30.06%
3Y*
16.07%
5Y*
8.57%
10Y*
9.37%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

Invesco FTSE RAFI Developed Markets ex-U.S. ETF

Vanguard FTSE Developed Markets ETF

Often compared with PXF:
PXF vs. FNDFPXF vs. PRFPXF vs. VXUSPXF vs. VYMIPXF vs. IDVPXF vs. PXHPXF vs. SCHE
Often compared with VEA:
VEA vs. VXUSVEA vs. VWOVEA vs. VOOVEA vs. VEUVEA vs. IEFAVEA vs. SCHFVEA vs. VTI

PXF vs. VEA - Expense Ratio Comparison

PXF has a 0.45% expense ratio, which is higher than VEA's 0.03% expense ratio.

PXF
Invesco FTSE RAFI Developed Markets ex-U.S. ETF
VEA
Vanguard FTSE Developed Markets ETF

Return for Risk

PXF vs. VEA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PXF
PXF Risk / Return Rank: 9494
Overall Rank
PXF Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
PXF Sortino Ratio Rank: 9595
Sortino Ratio Rank
PXF Omega Ratio Rank: 9595
Omega Ratio Rank
PXF Calmar Ratio Rank: 9292
Calmar Ratio Rank
PXF Martin Ratio Rank: 9393
Martin Ratio Rank
VEA
VEA Risk / Return Rank: 8787
Overall Rank
VEA Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
VEA Sortino Ratio Rank: 8888
Sortino Ratio Rank
VEA Omega Ratio Rank: 8888
Omega Ratio Rank
VEA Calmar Ratio Rank: 8787
Calmar Ratio Rank
VEA Martin Ratio Rank: 8787
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.

PXF vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and Vanguard FTSE Developed Markets ETF (VEA). 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.

PXFVEADifference

Sharpe ratio

Return per unit of total volatility

2.29

1.72

+0.57

Sortino ratio

Return per unit of downside risk

2.97

2.35

+0.63

Omega ratio

Gain probability vs. loss probability

1.46

1.35

+0.11

Calmar ratio

Return relative to maximum drawdown

3.34

2.50

+0.84

Martin ratio

Return relative to average drawdown

13.24

9.82

+3.42

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PXF vs. VEA - Sharpe Ratio Comparison

The current PXF Sharpe Ratio is 2.29, which is higher than the VEA Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of PXF and VEA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

PXFVEADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.29

1.72

+0.57

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

0.53

+0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.54

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.22

-0.01

Correlation

The correlation between PXF and VEA is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PXF vs. VEA - Dividend Comparison

PXF's dividend yield for the trailing twelve months is around 3.45%, more than VEA's 2.93% yield.

TTM20252024202320222021202020192018201720162015
PXF
Invesco FTSE RAFI Developed Markets ex-U.S. ETF		3.45%3.64%3.48%3.55%3.58%3.74%2.11%3.50%3.38%2.78%3.21%3.10%
VEA
Vanguard FTSE Developed Markets ETF		2.93%3.22%3.35%3.15%2.91%3.16%2.04%3.04%3.35%2.77%3.05%2.92%

Drawdowns

PXF vs. VEA - Drawdown Comparison

The maximum PXF drawdown since its inception was -64.74%, which is greater than VEA's maximum drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for PXF and VEA.

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Drawdown Indicators

PXFVEADifference

Max Drawdown

Largest peak-to-trough decline

-64.74%

-60.68%

-4.06%

Max Drawdown (1Y)

Largest decline over 1 year

-11.52%

-11.63%

+0.11%

Max Drawdown (5Y)

Largest decline over 5 years

-26.82%

-29.71%

+2.89%

Max Drawdown (10Y)

Largest decline over 10 years

-41.59%

-35.73%

-5.86%

Current Drawdown

Current decline from peak

-7.54%

-8.71%

+1.17%

Average Drawdown

Average peak-to-trough decline

-15.40%

-13.40%

-2.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.90%

2.96%

-0.06%

Volatility

PXF vs. VEA - Volatility Comparison

Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and Vanguard FTSE Developed Markets ETF (VEA) have volatilities of 8.30% and 8.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PXFVEADifference

Volatility (1M)

Calculated over the trailing 1-month period

8.30%

8.41%

-0.11%

Volatility (6M)

Calculated over the trailing 6-month period

11.63%

11.57%

+0.06%

Volatility (1Y)

Calculated over the trailing 1-year period

17.52%

17.62%

-0.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.27%

16.30%

-0.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.03%

17.26%

+0.77%