VE.TO vs. AQN.TO

Last updated Jun 4, 2026

VE.TO (Vanguard FTSE Developed Europe All Cap Index ETF) is Europe Equities fund tracking the FTSE Developed Europe All Cap Index, while AQN.TO (Algonquin Power & Utilities Corp.) is a stock. Over the past 10 years, VE.TO returned 9.78%/yr vs 1.60%/yr for AQN.TO. At a 0.24 correlation, their price movements are largely independent.

Performance

VE.TO vs. AQN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) and Algonquin Power & Utilities Corp. (AQN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VE.TO achieves a 6.65% return, which is significantly higher than AQN.TO's -3.01% return. Over the past 10 years, VE.TO has outperformed AQN.TO with an annualized return of 9.78%, while AQN.TO has yielded a comparatively lower 1.60% annualized return.

VE.TO

• 1D: -0.65%
• 1M: 4.95%
• YTD: 6.65%
• 6M: 8.13%
• 1Y: 18.98%
• 3Y*: 17.46%
• 5Y*: 11.07%
• 10Y*: 9.78%

AQN.TO

• 1D: -1.10%
• 1M: -4.93%
• YTD: -3.01%
• 6M: 0.15%
• 1Y: -0.82%
• 3Y*: -5.49%
• 5Y*: -10.28%
• 10Y*: 1.60%

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

VE.TO vs. AQN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VE.TO Vanguard FTSE Developed Europe All Cap Index ETF	6.65%	29.58%	10.77%	16.67%	-10.07%	15.65%	3.00%	18.14%	-7.96%	18.82%
AQN.TO Algonquin Power & Utilities Corp.	-3.01%	38.63%	-17.99%	0.64%	-48.34%	-8.03%	19.16%	39.68%	2.71%	29.07%

Correlation

The correlation between VE.TO and AQN.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jul 10, 2014	0.24

Return for Risk

VE.TO vs. AQN.TO — Risk / Return Rank

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

VE.TO

VE.TO Risk / Return Rank: 34
VE.TO Sharpe Ratio Rank: 35
VE.TO Sortino Ratio Rank: 35
VE.TO Omega Ratio Rank: 34
VE.TO Calmar Ratio Rank: 30
VE.TO Martin Ratio Rank: 37

AQN.TO

AQN.TO Risk / Return Rank: 36
AQN.TO Sharpe Ratio Rank: 39
AQN.TO Sortino Ratio Rank: 32
AQN.TO Omega Ratio Rank: 33
AQN.TO Calmar Ratio Rank: 38
AQN.TO Martin Ratio Rank: 38

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.

VE.TO vs. AQN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) and Algonquin Power & Utilities Corp. (AQN.TO). 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.

	VE.TO	AQN.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.28	-0.03	+1.32
Sortino ratio: Return per unit of downside risk	1.88	0.12	+1.77
Omega ratio: Gain probability vs. loss probability	1.23	1.02	+0.22
Calmar ratio: Return relative to maximum drawdown	1.50	-0.05	+1.55
Martin ratio: Return relative to average drawdown	5.84	-0.13	+5.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VE.TO vs. AQN.TO - Sharpe Ratio Comparison

The current VE.TO Sharpe Ratio is 1.28, which is higher than the AQN.TO Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of VE.TO and AQN.TO, 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

	VE.TO	AQN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	-0.03	+1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	-0.36	+1.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.06	+0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.26	+0.28

Drawdowns

VE.TO vs. AQN.TO - Drawdown Comparison

The maximum VE.TO drawdown since its inception was -31.66%, smaller than the maximum AQN.TO drawdown of -78.55%. Use the drawdown chart below to compare losses from any high point for VE.TO and AQN.TO.

Drawdown Indicators

	VE.TO	AQN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.66%	-78.55%	+46.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.68%	-15.89%	+3.21%
Max Drawdown (3Y) Largest decline over 3 years	-14.67%	-41.24%	+26.57%
Max Drawdown (5Y) Largest decline over 5 years	-27.26%	-63.36%	+36.10%
Max Drawdown (10Y) Largest decline over 10 years	-31.66%	-65.21%	+33.55%
Current Drawdown Current decline from peak	-2.80%	-51.00%	+48.20%
Average Drawdown Average peak-to-trough decline	-5.60%	-16.81%	+11.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	7.11%	-3.85%

Volatility

VE.TO vs. AQN.TO - Volatility Comparison

Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) has a higher volatility of 6.11% compared to Algonquin Power & Utilities Corp. (AQN.TO) at 5.26%. This indicates that VE.TO's price experiences larger fluctuations and is considered to be riskier than AQN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VE.TO	AQN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	5.26%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	18.45%	-5.97%
Volatility (1Y) Calculated over the trailing 1-year period	14.90%	28.58%	-13.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.04%	28.63%	-13.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.20%	25.92%	-9.72%

Dividends

VE.TO vs. AQN.TO - Dividend Comparison

VE.TO's dividend yield for the trailing twelve months is around 2.42%, less than AQN.TO's 4.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQN.TO Algonquin Power & Utilities Corp.	4.43%	4.29%	8.50%	6.95%	10.66%	5.52%	3.89%	3.96%	4.83%	4.28%	4.82%	4.49%
VE.TO Vanguard FTSE Developed Europe All Cap Index ETF	2.42%	2.58%	2.97%	2.97%	3.20%	2.97%	2.41%	3.79%	3.57%	2.22%	2.33%	2.47%

Frequently Asked Questions

Can I hold both VE.TO and AQN.TO in my portfolio?

VE.TO and AQN.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.