VE.TO vs. EHE.TO

Last updated Jul 1, 2026

VE.TO (Vanguard FTSE Developed Europe All Cap Index ETF) and EHE.TO (CI Europe Hedged Equity Index ETF) are both Europe Equities funds - VE.TO tracks the FTSE Developed Europe All Cap Index while EHE.TO tracks the WisdomTree Europe CAD-Hedged Equity Index. Both are passively managed. Over the past 5 years, VE.TO returned 11.88%/yr vs 10.01%/yr for EHE.TO. At a 0.30 correlation, their price movements are largely independent.

Performance

VE.TO vs. EHE.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 CI Europe Hedged Equity Index ETF (EHE.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 11.23% return, which is significantly higher than EHE.TO's 7.41% return.

VE.TO

• 1D: 0.41%
• 1M: 3.63%
• YTD: 11.23%
• 6M: 11.18%
• 1Y: 22.18%
• 3Y*: 18.80%
• 5Y*: 11.88%
• 10Y*: 10.79%

EHE.TO

• 1D: 0.58%
• 1M: 1.53%
• YTD: 7.41%
• 6M: 7.99%
• 1Y: 17.80%
• 3Y*: 13.93%
• 5Y*: 10.01%
• 10Y*: —

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

VE.TO vs. EHE.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	11.23%	29.58%	10.77%	16.67%	-10.08%	15.65%	3.00%	18.14%	-7.96%	18.82%
EHE.TO CI Europe Hedged Equity Index ETF	7.41%	22.91%	4.19%	22.26%	-10.45%	23.79%	-5.96%	24.49%	-10.68%	15.40%

Correlation

The correlation between VE.TO and EHE.TO is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jul 15, 2016	0.30

The correlation between VE.TO and EHE.TO shifts across timeframes, from -0.01 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

VE.TO vs. EHE.TO - Sectors Allocation Comparison

Sectors	VE.TO	EHE.TO
Financial Services	23.7%	15.1%
Industrials	19.3%	22.6%
Healthcare	12.2%	8.1%
Technology	9.4%	12.1%
Consumer Defensive	8.0%	12.4%
Consumer Cyclical	6.9%	13.5%
Basic Materials	5.7%	6.8%
Energy	4.8%	3.7%
Utilities	4.4%	-
Communication Services	3.4%	5.6%
Real Estate	1.3%	-

Return for Risk

VE.TO vs. EHE.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: 46
VE.TO Sharpe Ratio Rank: 49
VE.TO Sortino Ratio Rank: 49
VE.TO Omega Ratio Rank: 48
VE.TO Calmar Ratio Rank: 39
VE.TO Martin Ratio Rank: 47

EHE.TO

EHE.TO Risk / Return Rank: 40
EHE.TO Sharpe Ratio Rank: 38
EHE.TO Sortino Ratio Rank: 40
EHE.TO Omega Ratio Rank: 40
EHE.TO Calmar Ratio Rank: 38
EHE.TO Martin Ratio Rank: 44

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. EHE.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 CI Europe Hedged Equity Index ETF (EHE.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.

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.

	VE.TO	EHE.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.22	+0.24
Sortino ratio: Return per unit of downside risk	2.14	1.82	+0.32
Omega ratio: Gain probability vs. loss probability	1.27	1.23	+0.03
Calmar ratio: Return relative to maximum drawdown	1.76	1.68	+0.08
Martin ratio: Return relative to average drawdown	6.81	6.34	+0.47

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

The current VE.TO Sharpe Ratio is 1.46, which is comparable to the EHE.TO Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of VE.TO and EHE.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.

Drawdowns

VE.TO vs. EHE.TO - Drawdown Comparison

The maximum VE.TO drawdown since its inception was -31.66%, smaller than the maximum EHE.TO drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for VE.TO and EHE.TO.

Drawdown Indicators

	VE.TO	EHE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.66%	-38.20%	+6.54%
Max Drawdown (1Y) Largest decline over 1 year	-12.68%	-11.85%	-0.83%
Max Drawdown (3Y) Largest decline over 3 years	-14.67%	-16.30%	+1.63%
Max Drawdown (5Y) Largest decline over 5 years	-27.25%	-22.91%	-4.34%
Max Drawdown (10Y) Largest decline over 10 years	-31.66%	—	—
Current Drawdown Current decline from peak	0.00%	-0.97%	+0.97%
Average Drawdown Average peak-to-trough decline	-5.56%	-5.32%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	3.13%	+0.14%

Volatility

VE.TO vs. EHE.TO - Volatility Comparison

The current volatility for Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) is 4.69%, while CI Europe Hedged Equity Index ETF (EHE.TO) has a volatility of 5.06%. This indicates that VE.TO experiences smaller price fluctuations and is considered to be less risky than EHE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VE.TO	EHE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.69%	5.06%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	13.13%	13.37%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	15.25%	16.28%	-1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	18.09%	-2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.87%	17.45%	-1.58%

Dividends

VE.TO vs. EHE.TO - Dividend Comparison

VE.TO's dividend yield for the trailing twelve months is around 2.63%, more than EHE.TO's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EHE.TO CI Europe Hedged Equity Index ETF	2.16%	2.16%	4.38%	3.30%	2.19%	1.90%	2.55%	2.02%	2.08%	1.37%	0.13%	0.00%
VE.TO Vanguard FTSE Developed Europe All Cap Index ETF	2.63%	2.58%	2.97%	2.97%	3.19%	2.97%	2.41%	3.79%	3.57%	2.22%	2.33%	2.47%

Frequently Asked Questions

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

VE.TO and EHE.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between VE.TO and EHE.TO?

VE.TO tracks FTSE Developed Europe All Cap Index, while EHE.TO tracks WisdomTree Europe CAD-Hedged Equity Index. They also come from different issuers: Vanguard and CI.