VE.TO vs. FEZ

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) and SPDR EURO STOXX 50 ETF (FEZ).

VE.TO and FEZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VE.TO is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed Europe All Cap Index. It was launched on Jun 30, 2014. FEZ is a passively managed fund by State Street that tracks the performance of the EURO STOXX 50 Index. It was launched on Oct 21, 2002. Both VE.TO and FEZ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VE.TO vs. FEZ - 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 SPDR EURO STOXX 50 ETF (FEZ). The values are adjusted to include any dividend payments, if applicable.

VE.TO vs. FEZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VE.TO Vanguard FTSE Developed Europe All Cap Index ETF	0.12%	29.58%	10.77%	16.67%	-10.07%	15.65%	3.00%	18.14%	-7.96%	18.82%
FEZ SPDR EURO STOXX 50 ETF	-2.13%	31.49%	12.47%	24.36%	-8.16%	13.81%	3.07%	19.85%	-8.72%	16.86%

Different Trading Currencies

VE.TO is traded in CAD, while FEZ is traded in USD. To make them comparable, the FEZ values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VE.TO achieves a 0.12% return, which is significantly higher than FEZ's -2.13% return. Over the past 10 years, VE.TO has underperformed FEZ with an annualized return of 9.42%, while FEZ has yielded a comparatively higher 10.41% annualized return.

VE.TO

• 1D: 3.10%
• 1M: -6.68%
• YTD: 0.12%
• 6M: 4.21%
• 1Y: 16.44%
• 3Y*: 15.23%
• 5Y*: 10.71%
• 10Y*: 9.42%

FEZ

• 1D: 3.65%
• 1M: -7.51%
• YTD: -2.13%
• 6M: 0.80%
• 1Y: 13.54%
• 3Y*: 15.71%
• 5Y*: 11.99%
• 10Y*: 10.41%

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

VE.TO vs. FEZ - Expense Ratio Comparison

VE.TO has a 0.22% expense ratio, which is lower than FEZ's 0.29% expense ratio.

FEZ

SPDR EURO STOXX 50 ETF

VE.TO

Vanguard FTSE Developed Europe All Cap Index ETF

Return for Risk

VE.TO vs. FEZ — 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: 55
VE.TO Sharpe Ratio Rank: 59
VE.TO Sortino Ratio Rank: 57
VE.TO Omega Ratio Rank: 56
VE.TO Calmar Ratio Rank: 52
VE.TO Martin Ratio Rank: 52

FEZ

FEZ Risk / Return Rank: 51
FEZ Sharpe Ratio Rank: 52
FEZ Sortino Ratio Rank: 55
FEZ Omega Ratio Rank: 50
FEZ Calmar Ratio Rank: 51
FEZ Martin Ratio Rank: 49

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. FEZ - 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 SPDR EURO STOXX 50 ETF (FEZ). 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	FEZ	Difference
Sharpe ratio Return per unit of total volatility	1.01	0.72	+0.29
Sortino ratio Return per unit of downside risk	1.43	1.12	+0.31
Omega ratio Gain probability vs. loss probability	1.20	1.15	+0.05
Calmar ratio Return relative to maximum drawdown	1.25	0.98	+0.27
Martin ratio Return relative to average drawdown	4.86	3.50	+1.36
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. FEZ - Sharpe Ratio Comparison

The current VE.TO Sharpe Ratio is 1.01, which is higher than the FEZ Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of VE.TO and FEZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VE.TO	FEZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	0.72	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.68	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.57	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.43	+0.08

Correlation

The correlation between VE.TO and FEZ is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VE.TO vs. FEZ - Dividend Comparison

VE.TO's dividend yield for the trailing twelve months is around 2.58%, less than FEZ's 2.80% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VE.TO Vanguard FTSE Developed Europe All Cap Index ETF	2.58%	2.58%	2.97%	2.97%	3.20%	2.97%	2.41%	3.79%	3.57%	2.22%	2.33%	2.47%
FEZ SPDR EURO STOXX 50 ETF	2.80%	2.78%	2.94%	2.75%	3.06%	2.61%	2.13%	2.61%	3.45%	2.44%	3.35%	3.03%

Drawdowns

VE.TO vs. FEZ - Drawdown Comparison

The maximum VE.TO drawdown since its inception was -31.66%, smaller than the maximum FEZ drawdown of -36.16%. Use the drawdown chart below to compare losses from any high point for VE.TO and FEZ.

Drawdown Indicators

	VE.TO	FEZ	Difference
Max Drawdown Largest peak-to-trough decline	-31.66%	-64.21%	+32.55%
Max Drawdown (1Y) Largest decline over 1 year	-12.68%	-13.63%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-27.26%	-35.05%	+7.79%
Max Drawdown (10Y) Largest decline over 10 years	-31.66%	-39.69%	+8.03%
Current Drawdown Current decline from peak	-7.46%	-10.33%	+2.87%
Average Drawdown Average peak-to-trough decline	-5.63%	-17.17%	+11.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.68%	-0.42%

Volatility

VE.TO vs. FEZ - Volatility Comparison

The current volatility for Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) is 7.86%, while SPDR EURO STOXX 50 ETF (FEZ) has a volatility of 8.60%. This indicates that VE.TO experiences smaller price fluctuations and is considered to be less risky than FEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VE.TO	FEZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.86%	8.60%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	10.66%	12.28%	-1.62%
Volatility (1Y) Calculated over the trailing 1-year period	16.35%	18.94%	-2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.78%	17.67%	-2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.05%	18.40%	-2.35%