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VDGR.AX vs. VEU.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VDGR.AX vs. VEU.AX

Last updated Jul 16, 2026
Documentation

VDGR.AX (Vanguard Diversified Growth Index ETF) and VEU.AX (Vanguard All-World ex-US Shares Index ETF) are both exchange-traded funds - VDGR.AX is a Diversified Portfolio fund tracking the Growth Composite Index, while VEU.AX is a Global Equities fund tracking the Vanguard All-World ex-US Shares Index Index. Both are passively managed. Over the past 5 years, VDGR.AX returned 6.32%/yr vs 10.68%/yr for VEU.AX. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

VDGR.AX vs. VEU.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard Diversified Growth Index ETF (VDGR.AX) and Vanguard All-World ex-US Shares Index ETF (VEU.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VDGR.AX achieves a 3.70% return, which is significantly lower than VEU.AX's 8.18% return.

VDGR.AX

1D
0.06%
1M
-0.13%
6M
3.29%
YTD
3.70%
1Y
9.56%
3Y*
10.85%
5Y*
6.32%
10Y*
—

VEU.AX

1D
-0.73%
1M
-1.21%
6M
4.42%
YTD
8.18%
1Y
18.44%
3Y*
17.07%
5Y*
10.68%
10Y*
10.36%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VDGR.AX vs. VEU.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VDGR.AX
Vanguard Diversified Growth Index ETF		3.70%11.12%12.97%12.54%-10.56%12.28%7.09%19.35%-1.25%1.14%
VEU.AX
Vanguard All-World ex-US Shares Index ETF		8.18%23.17%16.80%14.76%-8.44%14.15%2.08%22.31%-6.28%-0.55%

Correlation

The correlation between VDGR.AX and VEU.AX is 0.77, 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

0.77

Correlation (3Y)
Calculated over the trailing 3-year period

0.72

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2017

0.74

The correlation between VDGR.AX and VEU.AX has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.

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Vanguard Diversified Growth Index ETF

Vanguard All-World ex-US Shares Index ETF

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Return for Risk

VDGR.AX vs. VEU.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VDGR.AX
VDGR.AX Risk / Return Rank: 4141
Overall Rank
VDGR.AX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VDGR.AX Sortino Ratio Rank: 4141
Sortino Ratio Rank
VDGR.AX Omega Ratio Rank: 4343
Omega Ratio Rank
VDGR.AX Calmar Ratio Rank: 3838
Calmar Ratio Rank
VDGR.AX Martin Ratio Rank: 4444
Martin Ratio Rank
VEU.AX
VEU.AX Risk / Return Rank: 5151
Overall Rank
VEU.AX Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
VEU.AX Sortino Ratio Rank: 5252
Sortino Ratio Rank
VEU.AX Omega Ratio Rank: 5757
Omega Ratio Rank
VEU.AX Calmar Ratio Rank: 4444
Calmar Ratio Rank
VEU.AX Martin Ratio Rank: 5151
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.

VDGR.AX vs. VEU.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Diversified Growth Index ETF (VDGR.AX) and Vanguard All-World ex-US Shares Index ETF (VEU.AX). 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.

VDGR.AXVEU.AXDifference
Sharpe ratioReturn per unit of total volatility
1.23
1.46

-0.23

Sortino ratioReturn per unit of downside risk
1.80
2.10

-0.30

Omega ratioGain probability vs. loss probability

1.24

1.29

-0.05

Calmar ratioReturn relative to maximum drawdown

1.63

1.83

-0.21

Martin ratioReturn relative to average drawdown

5.87

7.08

-1.21

VDGR.AX vs. VEU.AX - Sharpe Ratio Comparison

The current VDGR.AX Sharpe Ratio is 1.23, which is comparable to the VEU.AX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of VDGR.AX and VEU.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VDGR.AX vs. VEU.AX - Drawdown Comparison

The maximum VDGR.AX drawdown since its inception was -23.90%, roughly equal to the maximum VEU.AX drawdown of -23.05%. Use the drawdown chart below to compare losses from any high point for VDGR.AX and VEU.AX.

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Drawdown Indicators

VDGR.AXVEU.AXDifference

Max Drawdown

Largest peak-to-trough decline

-23.90%

-23.05%

-0.85%

Max Drawdown (1Y)

Largest decline over 1 year

-5.99%

-9.87%

+3.88%

Max Drawdown (3Y)

Largest decline over 3 years

-10.00%

-9.87%

-0.13%

Max Drawdown (5Y)

Largest decline over 5 years

-15.79%

-18.46%

+2.67%

Max Drawdown (10Y)

Largest decline over 10 years

—

-23.05%

—

Current Drawdown

Current decline from peak

-0.48%

-2.39%

+1.91%

Average Drawdown

Average peak-to-trough decline

-3.35%

-5.33%

+1.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.69%

2.60%

-0.91%

Volatility

VDGR.AX vs. VEU.AX - Volatility Comparison

The current volatility for Vanguard Diversified Growth Index ETF (VDGR.AX) is 1.33%, while Vanguard All-World ex-US Shares Index ETF (VEU.AX) has a volatility of 3.99%. This indicates that VDGR.AX experiences smaller price fluctuations and is considered to be less risky than VEU.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VDGR.AXVEU.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.33%

3.99%

-2.66%

Volatility (6M)

Calculated over the trailing 6-month period

6.65%

11.17%

-4.52%

Volatility (1Y)

Calculated over the trailing 1-year period

7.96%

12.40%

-4.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.97%

11.20%

-2.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.61%

11.70%

-2.09%

Dividends

VDGR.AX vs. VEU.AX - Dividend Comparison

VDGR.AX's dividend yield for the trailing twelve months is around 3.67%, more than VEU.AX's 2.65% yield.

PositionTTM20252024202320222021202020192018201720162015
VDGR.AX
Vanguard Diversified Growth Index ETF		3.67%3.04%1.60%2.04%3.42%8.07%5.20%2.91%1.56%0.00%0.00%0.00%
VEU.AX
Vanguard All-World ex-US Shares Index ETF		2.65%3.11%3.69%4.26%3.33%3.09%2.32%3.17%1.63%0.87%1.05%1.21%

Frequently Asked Questions

VDGR.AX and VEU.AX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VDGR.AX is categorized as Diversified Portfolio, while VEU.AX is Global Equities. VDGR.AX tracks Growth Composite Index, while VEU.AX tracks Vanguard All-World ex-US Shares Index Index.

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