PZRIX vs. VEA

Last updated Jun 3, 2026

PZRIX (PIMCO RAE Global ex-US Fund) and VEA (Vanguard FTSE Developed Markets ETF) are both Foreign Large Cap Equities funds. Over the past 10 years, PZRIX returned 10.28%/yr vs 10.27%/yr for VEA. Their correlation of 0.92 suggests significant overlap in exposure. PZRIX charges 0.00%/yr vs 0.03%/yr for VEA.

Performance

PZRIX vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE Global ex-US Fund (PZRIX) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PZRIX achieves a 14.72% return, which is significantly lower than VEA's 15.96% return. Both investments have delivered pretty close results over the past 10 years, with PZRIX having a 10.28% annualized return and VEA not far behind at 10.27%.

PZRIX

• 1D: 0.39%
• 1M: 1.65%
• YTD: 14.72%
• 6M: 17.89%
• 1Y: 33.40%
• 3Y*: 21.09%
• 5Y*: 10.14%
• 10Y*: 10.28%

VEA

• 1D: 0.63%
• 1M: 5.24%
• YTD: 15.96%
• 6M: 19.86%
• 1Y: 32.71%
• 3Y*: 20.13%
• 5Y*: 10.01%
• 10Y*: 10.27%

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

PZRIX vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PZRIX PIMCO RAE Global ex-US Fund	14.72%	34.05%	3.29%	19.31%	-9.11%	12.08%	1.74%	15.94%	-14.93%	26.00%
VEA Vanguard FTSE Developed Markets ETF	15.96%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between PZRIX and VEA is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.92

The correlation between PZRIX and VEA has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

Return for Risk

PZRIX vs. VEA — Risk / Return Rank

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

PZRIX

PZRIX Risk / Return Rank: 86
PZRIX Sharpe Ratio Rank: 91
PZRIX Sortino Ratio Rank: 85
PZRIX Omega Ratio Rank: 82
PZRIX Calmar Ratio Rank: 88
PZRIX Martin Ratio Rank: 82

VEA

VEA Risk / Return Rank: 61
VEA Sharpe Ratio Rank: 62
VEA Sortino Ratio Rank: 61
VEA Omega Ratio Rank: 62
VEA Calmar Ratio Rank: 59
VEA 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.

PZRIX vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Global ex-US Fund (PZRIX) 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.

	PZRIX	VEA	Difference
Sharpe ratio Return per unit of total volatility	3.02	2.10	+0.92
Sortino ratio Return per unit of downside risk	4.05	2.89	+1.16
Omega ratio Gain probability vs. loss probability	1.54	1.38	+0.16
Calmar ratio Return relative to maximum drawdown	4.29	2.94	+1.35
Martin ratio Return relative to average drawdown	15.54	11.50	+4.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PZRIX vs. VEA - Sharpe Ratio Comparison

The current PZRIX Sharpe Ratio is 3.02, which is higher than the VEA Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of PZRIX and VEA, 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

	PZRIX	VEA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	2.10	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.61	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.59	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.25	+0.36

Drawdowns

PZRIX vs. VEA - Drawdown Comparison

The maximum PZRIX drawdown since its inception was -43.53%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for PZRIX and VEA.

Drawdown Indicators

	PZRIX	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-43.53%	-60.68%	+17.15%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-11.63%	+3.45%
Max Drawdown (3Y) Largest decline over 3 years	-13.81%	-13.45%	-0.36%
Max Drawdown (5Y) Largest decline over 5 years	-30.85%	-29.71%	-1.14%
Max Drawdown (10Y) Largest decline over 10 years	-43.53%	-35.73%	-7.80%
Current Drawdown Current decline from peak	-1.07%	0.00%	-1.07%
Average Drawdown Average peak-to-trough decline	-8.89%	-13.29%	+4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.98%	-0.72%

Volatility

PZRIX vs. VEA - Volatility Comparison

The current volatility for PIMCO RAE Global ex-US Fund (PZRIX) is 3.13%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 5.73%. This indicates that PZRIX experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PZRIX	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	5.73%	-2.60%
Volatility (6M) Calculated over the trailing 6-month period	8.91%	13.30%	-4.39%
Volatility (1Y) Calculated over the trailing 1-year period	11.56%	15.66%	-4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	16.55%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	17.36%	-0.42%

PZRIX vs. VEA - Expense Ratio Comparison

PZRIX has a 0.00% expense ratio, which is lower than VEA's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PZRIX vs. VEA - Dividend Comparison

PZRIX's dividend yield for the trailing twelve months is around 5.72%, more than VEA's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PZRIX PIMCO RAE Global ex-US Fund	5.72%	6.56%	6.70%	9.19%	8.80%	11.99%	2.04%	6.32%	2.80%	4.13%	2.58%	0.00%
VEA Vanguard FTSE Developed Markets ETF	2.59%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both PZRIX and VEA in my portfolio?

PZRIX and VEA have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PZRIX or VEA?

VEA has higher volatility (5.73%) compared to PZRIX (3.13%). In terms of maximum drawdown, PZRIX dropped -43.53% vs VEA's -60.68%.

Which has better risk-adjusted returns?

PZRIX currently has the higher Sharpe Ratio (3.02 vs 2.10), 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.