TOUS vs. VEU

Last updated Jun 24, 2026

TOUS (T. Rowe Price International Equity ETF) and VEU (Vanguard FTSE All-World ex-US ETF) are both Foreign Large Cap Equities funds. TOUS is actively managed, while VEU is passively managed. Over the past 3 years, TOUS returned 17.54%/yr vs 19.26%/yr for VEU. Their correlation of 0.95 suggests significant overlap in exposure. TOUS charges 0.50%/yr vs 0.04%/yr for VEU.

Performance

TOUS vs. VEU - Performance Comparison

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

Returns By Period

In the year-to-date period, TOUS achieves a 9.19% return, which is significantly lower than VEU's 13.01% return.

TOUS

• 1D: -2.03%
• 1M: 0.43%
• YTD: 9.19%
• 6M: 8.90%
• 1Y: 21.91%
• 3Y*: 17.54%
• 5Y*: —
• 10Y*: —

VEU

• 1D: -3.06%
• 1M: 0.69%
• YTD: 13.01%
• 6M: 12.81%
• 1Y: 30.08%
• 3Y*: 19.26%
• 5Y*: 8.60%
• 10Y*: 10.40%

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

TOUS vs. VEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TOUS T. Rowe Price International Equity ETF	9.19%	34.00%	3.63%	3.45%
VEU Vanguard FTSE All-World ex-US ETF	13.01%	32.35%	5.56%	4.46%

Correlation

The correlation between TOUS and VEU is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.95

The correlation between TOUS and VEU has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

TOUS vs. VEU - Sectors Allocation Comparison

Sectors	TOUS	VEU
Financial Services	21.8%	22.6%
Industrials	19.1%	15.0%
Technology	15.0%	21.6%
Healthcare	9.7%	6.7%
Consumer Cyclical	7.4%	8.0%
Consumer Defensive	7.2%	4.9%
Basic Materials	5.4%	7.1%
Energy	4.9%	4.7%
Communication Services	4.9%	4.5%
Utilities	3.1%	3.0%
Real Estate	1.7%	1.9%

Return for Risk

TOUS vs. VEU — Risk / Return Rank

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

TOUS

TOUS Risk / Return Rank: 41
TOUS Sharpe Ratio Rank: 42
TOUS Sortino Ratio Rank: 42
TOUS Omega Ratio Rank: 42
TOUS Calmar Ratio Rank: 38
TOUS Martin Ratio Rank: 42

VEU

VEU Risk / Return Rank: 56
VEU Sharpe Ratio Rank: 56
VEU Sortino Ratio Rank: 54
VEU Omega Ratio Rank: 57
VEU Calmar Ratio Rank: 55
VEU Martin Ratio Rank: 59

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.

TOUS vs. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Equity ETF (TOUS) 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.

	TOUS	VEU	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.84	-0.46
Sortino ratio: Return per unit of downside risk	2.03	2.52	-0.48
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	1.80	2.64	-0.85
Martin ratio: Return relative to average drawdown	6.54	10.12	-3.59

TOUS vs. VEU - Sharpe Ratio Comparison

The current TOUS Sharpe Ratio is 1.38, which is comparable to the VEU Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of TOUS 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.

Drawdowns

TOUS vs. VEU - Drawdown Comparison

The maximum TOUS drawdown since its inception was -14.29%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for TOUS and VEU.

Drawdown Indicators

	TOUS	VEU	Difference
Max Drawdown Largest peak-to-trough decline	-14.29%	-61.52%	+47.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-11.43%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-14.29%	-13.69%	-0.60%
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	-2.03%	-3.06%	+1.03%
Average Drawdown Average peak-to-trough decline	-2.80%	-13.10%	+10.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	2.98%	+0.38%

Volatility

TOUS vs. VEU - Volatility Comparison

The current volatility for T. Rowe Price International Equity ETF (TOUS) is 5.25%, while Vanguard FTSE All-World ex-US ETF (VEU) has a volatility of 7.10%. This indicates that TOUS 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.

Volatility by Period

	TOUS	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	7.10%	-1.85%
Volatility (6M) Calculated over the trailing 6-month period	13.74%	14.47%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	16.44%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	16.30%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.31%	17.08%	-1.77%

TOUS vs. VEU - Expense Ratio Comparison

TOUS has a 0.50% expense ratio, which is higher than VEU's 0.04% expense ratio.

Dividends

TOUS vs. VEU - Dividend Comparison

TOUS's dividend yield for the trailing twelve months is around 1.59%, less than VEU's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TOUS T. Rowe Price International Equity ETF	1.59%	1.74%	3.01%	0.50%	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

Can I hold both TOUS and VEU in my portfolio?

With a correlation of 0.94, TOUS 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 is riskier, TOUS or VEU?

VEU has higher volatility (7.10%) compared to TOUS (5.25%). In terms of maximum drawdown, TOUS dropped -14.29% vs VEU's -61.52%.

Which ETF is better, TOUS or VEU?

On 3-year performance, VEU leads with 19.26% vs 17.54% for TOUS. On fees, VEU is cheaper at 0.04% per year. On volatility, TOUS has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOUS or VEU?

Over the 3-year period, VEU has performed better with a 19.26% return vs 17.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOUS or VEU?

VEU is cheaper with a 0.04% expense ratio, compared with 0.50% for TOUS.

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

VEU has the higher dividend yield at 2.56%, compared with 1.59% for TOUS.

What is the main difference between TOUS and VEU?

They also come from different issuers: T. Rowe Price and Vanguard. Their fees differ too: 0.50% for TOUS and 0.04% for VEU.

Which has better risk-adjusted returns?

VEU currently has the higher Sharpe Ratio (1.84 vs 1.38), 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.