TWGGX vs. VEU

Last updated Jun 26, 2026

TWGGX (American Century Focused Global Growth Fund) and VEU (Vanguard FTSE All-World ex-US ETF) are both funds - TWGGX is a Global Equities fund managed by American Century, while VEU is a Foreign Large Cap Equities fund tracking the FTSE All-World ex US Index. Over the past 10 years, TWGGX returned 12.10%/yr vs 10.70%/yr for VEU. Their correlation of 0.88 suggests significant overlap in exposure. TWGGX charges 1.10%/yr vs 0.04%/yr for VEU.

Performance

TWGGX vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Focused Global Growth Fund (TWGGX) 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, TWGGX achieves a 3.60% return, which is significantly lower than VEU's 13.93% return. Over the past 10 years, TWGGX has outperformed VEU with an annualized return of 12.10%, while VEU has yielded a comparatively lower 10.70% annualized return.

TWGGX

• 1D: -0.17%
• 1M: -2.08%
• YTD: 3.60%
• 6M: 2.52%
• 1Y: 8.66%
• 3Y*: 13.70%
• 5Y*: 4.87%
• 10Y*: 12.10%

VEU

• 1D: 0.93%
• 1M: -0.49%
• YTD: 13.93%
• 6M: 13.65%
• 1Y: 29.59%
• 3Y*: 19.48%
• 5Y*: 8.69%
• 10Y*: 10.70%

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

TWGGX vs. VEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWGGX American Century Focused Global Growth Fund	3.60%	16.50%	13.99%	18.49%	-22.76%	13.83%	27.88%	36.20%	-6.32%	27.49%
VEU Vanguard FTSE All-World ex-US ETF	13.93%	32.35%	5.56%	15.84%	-15.58%	8.27%	11.10%	21.83%	-14.18%	27.40%

Correlation

The correlation between TWGGX and VEU 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	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Mar 8, 2007	0.88

The correlation between TWGGX and VEU has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

Return for Risk

TWGGX vs. VEU — Risk / Return Rank

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

TWGGX

TWGGX Risk / Return Rank: 9
TWGGX Sharpe Ratio Rank: 9
TWGGX Sortino Ratio Rank: 9
TWGGX Omega Ratio Rank: 9
TWGGX Calmar Ratio Rank: 8
TWGGX Martin Ratio Rank: 11

VEU

VEU Risk / Return Rank: 63
VEU Sharpe Ratio Rank: 64
VEU Sortino Ratio Rank: 62
VEU Omega Ratio Rank: 65
VEU Calmar Ratio Rank: 61
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.

TWGGX vs. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Focused Global Growth Fund (TWGGX) 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.

	TWGGX	VEU	Difference
Sharpe ratio: Return per unit of total volatility	0.54	1.81	-1.27
Sortino ratio: Return per unit of downside risk	0.86	2.48	-1.63
Omega ratio: Gain probability vs. loss probability	1.11	1.34	-0.23
Calmar ratio: Return relative to maximum drawdown	0.61	2.60	-1.99
Martin ratio: Return relative to average drawdown	2.47	9.92	-7.46

TWGGX vs. VEU - Sharpe Ratio Comparison

The current TWGGX Sharpe Ratio is 0.54, which is lower than the VEU Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of TWGGX 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

TWGGX vs. VEU - Drawdown Comparison

The maximum TWGGX drawdown since its inception was -58.08%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for TWGGX and VEU.

Drawdown Indicators

	TWGGX	VEU	Difference
Max Drawdown Largest peak-to-trough decline	-58.08%	-61.52%	+3.44%
Max Drawdown (1Y) Largest decline over 1 year	-14.04%	-11.43%	-2.61%
Max Drawdown (3Y) Largest decline over 3 years	-17.80%	-13.69%	-4.11%
Max Drawdown (5Y) Largest decline over 5 years	-31.23%	-29.14%	-2.09%
Max Drawdown (10Y) Largest decline over 10 years	-32.06%	-34.98%	+2.92%
Current Drawdown Current decline from peak	-2.88%	-2.28%	-0.60%
Average Drawdown Average peak-to-trough decline	-15.03%	-13.10%	-1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	2.99%	+0.46%

Volatility

TWGGX vs. VEU - Volatility Comparison

American Century Focused Global Growth Fund (TWGGX) and Vanguard FTSE All-World ex-US ETF (VEU) have volatilities of 7.07% and 6.87%, 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.

Volatility by Period

	TWGGX	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.07%	6.87%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	14.48%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.80%	16.39%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.53%	16.30%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	17.08%	+1.62%

TWGGX vs. VEU - Expense Ratio Comparison

TWGGX has a 1.10% expense ratio, which is higher than VEU's 0.04% expense ratio.

Dividends

TWGGX vs. VEU - Dividend Comparison

TWGGX's dividend yield for the trailing twelve months is around 8.71%, more than VEU's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TWGGX American Century Focused Global Growth Fund	8.71%	9.02%	14.90%	3.81%	12.67%	13.16%	11.05%	17.27%	11.31%	12.90%	0.58%	8.61%
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 TWGGX and VEU in my portfolio?

TWGGX and VEU 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, TWGGX or VEU?

TWGGX has higher volatility (7.07%) compared to VEU (6.87%). In terms of maximum drawdown, TWGGX dropped -58.08% vs VEU's -61.52%.

Which has better risk-adjusted returns?

VEU currently has the higher Sharpe Ratio (1.81 vs 0.54), 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.