VE.TO vs. IEUR

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) and iShares Core MSCI Europe ETF (IEUR).

VE.TO and IEUR 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. IEUR is a passively managed fund by iShares that tracks the performance of the MSCI Europe Investable Market Index. It was launched on Jun 10, 2014. Both VE.TO and IEUR 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. IEUR - 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 iShares Core MSCI Europe ETF (IEUR). The values are adjusted to include any dividend payments, if applicable.

VE.TO vs. IEUR - 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%
IEUR iShares Core MSCI Europe ETF	0.34%	29.45%	10.11%	17.07%	-9.91%	15.66%	3.53%	18.81%	-7.64%	18.64%

Different Trading Currencies

VE.TO is traded in CAD, while IEUR is traded in USD. To make them comparable, the IEUR 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 lower than IEUR's 0.34% return. Both investments have delivered pretty close results over the past 10 years, with VE.TO having a 9.42% annualized return and IEUR not far ahead at 9.60%.

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%

IEUR

• 1D: 3.06%
• 1M: -6.34%
• YTD: 0.34%
• 6M: 4.31%
• 1Y: 16.52%
• 3Y*: 15.01%
• 5Y*: 10.65%
• 10Y*: 9.60%

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

VE.TO vs. IEUR - Expense Ratio Comparison

VE.TO has a 0.22% expense ratio, which is higher than IEUR's 0.09% 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%.

VE.TO

Vanguard FTSE Developed Europe All Cap Index ETF

IEUR

iShares Core MSCI Europe ETF

Return for Risk

VE.TO vs. IEUR — 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

IEUR

IEUR Risk / Return Rank: 68
IEUR Sharpe Ratio Rank: 69
IEUR Sortino Ratio Rank: 70
IEUR Omega Ratio Rank: 68
IEUR Calmar Ratio Rank: 67
IEUR Martin Ratio Rank: 66

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. IEUR - 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 iShares Core MSCI Europe ETF (IEUR). 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	IEUR	Difference
Sharpe ratio Return per unit of total volatility	1.01	1.01	0.00
Sortino ratio Return per unit of downside risk	1.43	1.46	-0.03
Omega ratio Gain probability vs. loss probability	1.20	1.21	0.00
Calmar ratio Return relative to maximum drawdown	1.25	1.35	-0.10
Martin ratio Return relative to average drawdown	4.86	5.18	-0.32
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. IEUR - Sharpe Ratio Comparison

The current VE.TO Sharpe Ratio is 1.01, which is comparable to the IEUR Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of VE.TO and IEUR, 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	IEUR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	1.01	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.73	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.61	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.52	0.00

Correlation

The correlation between VE.TO and IEUR is 0.89, 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. IEUR - Dividend Comparison

VE.TO's dividend yield for the trailing twelve months is around 2.58%, less than IEUR's 3.00% 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%
IEUR iShares Core MSCI Europe ETF	3.00%	2.97%	3.54%	3.17%	3.05%	2.88%	2.13%	3.26%	3.76%	2.64%	3.19%	2.79%

Drawdowns

VE.TO vs. IEUR - Drawdown Comparison

The maximum VE.TO drawdown since its inception was -31.66%, roughly equal to the maximum IEUR drawdown of -30.86%. Use the drawdown chart below to compare losses from any high point for VE.TO and IEUR.

Drawdown Indicators

	VE.TO	IEUR	Difference
Max Drawdown Largest peak-to-trough decline	-31.66%	-36.96%	+5.30%
Max Drawdown (1Y) Largest decline over 1 year	-12.68%	-12.04%	-0.64%
Max Drawdown (5Y) Largest decline over 5 years	-27.26%	-32.75%	+5.49%
Max Drawdown (10Y) Largest decline over 10 years	-31.66%	-36.96%	+5.30%
Current Drawdown Current decline from peak	-7.46%	-8.44%	+0.98%
Average Drawdown Average peak-to-trough decline	-5.63%	-8.30%	+2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.10%	+0.16%

Volatility

VE.TO vs. IEUR - Volatility Comparison

Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) and iShares Core MSCI Europe ETF (IEUR) have volatilities of 7.86% and 7.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VE.TO	IEUR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.86%	7.52%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	10.66%	10.53%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	16.35%	16.45%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.78%	14.65%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.05%	15.87%	+0.18%