V3AA.MI vs. VEUR.MI

Last updated Jun 5, 2026

V3AA.MI (Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating) and VEUR.MI (Vanguard FTSE Developed Europe UCITS ETF) are both exchange-traded funds - V3AA.MI is a Global Equities fund tracking the FTSE Global All Cap Choice Index, while VEUR.MI is a Europe Equities fund tracking the FTSE Developed Europe Index. Both are passively managed. Over the past 5 years, V3AA.MI returned 11.33%/yr vs 9.89%/yr for VEUR.MI. A 0.74 correlation means they provide meaningful diversification when combined. V3AA.MI charges 0.24%/yr vs 0.10%/yr for VEUR.MI.

Performance

V3AA.MI vs. VEUR.MI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating (V3AA.MI) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, V3AA.MI achieves a 12.87% return, which is significantly higher than VEUR.MI's 7.10% return.

V3AA.MI

• 1D: -0.09%
• 1M: 6.07%
• YTD: 12.87%
• 6M: 13.72%
• 1Y: 26.47%
• 3Y*: 17.68%
• 5Y*: 11.33%
• 10Y*: —

VEUR.MI

• 1D: 0.40%
• 1M: 3.04%
• YTD: 7.10%
• 6M: 9.73%
• 1Y: 16.16%
• 3Y*: 14.02%
• 5Y*: 9.89%
• 10Y*: —

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

V3AA.MI vs. VEUR.MI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
V3AA.MI Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating	12.87%	7.21%	25.54%	20.64%	-18.83%	15.26%
VEUR.MI Vanguard FTSE Developed Europe UCITS ETF	7.10%	20.77%	9.08%	16.29%	-10.22%	14.01%

Correlation

The correlation between V3AA.MI and VEUR.MI is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Apr 14, 2021	0.74

The correlation between V3AA.MI and VEUR.MI has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.

Return for Risk

V3AA.MI vs. VEUR.MI — Risk / Return Rank

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

V3AA.MI

V3AA.MI Risk / Return Rank: 68
V3AA.MI Sharpe Ratio Rank: 66
V3AA.MI Sortino Ratio Rank: 67
V3AA.MI Omega Ratio Rank: 69
V3AA.MI Calmar Ratio Rank: 66
V3AA.MI Martin Ratio Rank: 71

VEUR.MI

VEUR.MI Risk / Return Rank: 36
VEUR.MI Sharpe Ratio Rank: 36
VEUR.MI Sortino Ratio Rank: 35
VEUR.MI Omega Ratio Rank: 37
VEUR.MI Calmar Ratio Rank: 35
VEUR.MI Martin Ratio Rank: 40

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.

V3AA.MI vs. VEUR.MI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating (V3AA.MI) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI). 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.

	V3AA.MI	VEUR.MI	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.26	+0.89
Sortino ratio: Return per unit of downside risk	3.03	1.83	+1.19
Omega ratio: Gain probability vs. loss probability	1.41	1.24	+0.17
Calmar ratio: Return relative to maximum drawdown	3.23	1.69	+1.54
Martin ratio: Return relative to average drawdown	13.08	6.24	+6.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

V3AA.MI vs. VEUR.MI - Sharpe Ratio Comparison

The current V3AA.MI Sharpe Ratio is 2.15, which is higher than the VEUR.MI Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of V3AA.MI and VEUR.MI, 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

	V3AA.MI	VEUR.MI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.26	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.70	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.68	+0.09

Drawdowns

V3AA.MI vs. VEUR.MI - Drawdown Comparison

The maximum V3AA.MI drawdown since its inception was -22.16%, smaller than the maximum VEUR.MI drawdown of -35.22%. Use the drawdown chart below to compare losses from any high point for V3AA.MI and VEUR.MI.

Drawdown Indicators

	V3AA.MI	VEUR.MI	Difference
Max Drawdown Largest peak-to-trough decline	-22.16%	-35.22%	+13.06%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-9.58%	+1.38%
Max Drawdown (3Y) Largest decline over 3 years	-22.16%	-16.36%	-5.80%
Max Drawdown (5Y) Largest decline over 5 years	-22.16%	-20.32%	-1.84%
Current Drawdown Current decline from peak	-0.75%	-1.73%	+0.98%
Average Drawdown Average peak-to-trough decline	-6.00%	-4.80%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	2.59%	-0.57%

Volatility

V3AA.MI vs. VEUR.MI - Volatility Comparison

The current volatility for Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating (V3AA.MI) is 3.46%, while Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI) has a volatility of 4.40%. This indicates that V3AA.MI experiences smaller price fluctuations and is considered to be less risky than VEUR.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V3AA.MI	VEUR.MI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	4.40%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	9.17%	10.56%	-1.39%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	12.79%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.72%	14.37%	+0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.64%	16.46%	-1.82%

V3AA.MI vs. VEUR.MI - Expense Ratio Comparison

V3AA.MI has a 0.24% expense ratio, which is higher than VEUR.MI's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

V3AA.MI vs. VEUR.MI - Dividend Comparison

V3AA.MI has not paid dividends to shareholders, while VEUR.MI's dividend yield for the trailing twelve months is around 2.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
V3AA.MI Vanguard ESG Global All Cap UCITS ETF (USD) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VEUR.MI Vanguard FTSE Developed Europe UCITS ETF	2.61%	2.79%	3.07%	3.00%	3.32%	2.66%	2.23%	3.24%

Frequently Asked Questions

Can I hold both V3AA.MI and VEUR.MI in my portfolio?

V3AA.MI and VEUR.MI have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, V3AA.MI or VEUR.MI?

On fees, VEUR.MI is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, V3AA.MI or VEUR.MI?

VEUR.MI is cheaper with a 0.10% expense ratio, compared with 0.24% for V3AA.MI.

What is the main difference between V3AA.MI and VEUR.MI?

V3AA.MI is categorized as Global Equities, while VEUR.MI is Europe Equities. V3AA.MI tracks FTSE Global All Cap Choice Index, while VEUR.MI tracks FTSE Developed Europe Index. Their fees differ too: 0.24% for V3AA.MI and 0.10% for VEUR.MI.