VEA vs. BRO

Last updated Jul 21, 2026

VEA (Vanguard FTSE Developed Markets ETF) is Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index, while BRO (Brown & Brown, Inc.) is a stock. Over the past 10 years, VEA returned 9.92%/yr vs 15.04%/yr for BRO. At a 0.46 correlation, their price movements are largely independent.

Performance

VEA vs. BRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Developed Markets ETF (VEA) and Brown & Brown, Inc. (BRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEA achieves a 11.59% return, which is significantly higher than BRO's -13.05% return. Over the past 10 years, VEA has underperformed BRO with an annualized return of 9.92%, while BRO has yielded a comparatively higher 15.04% annualized return.

VEA

• 1D: -0.67%
• 1M: -4.26%
• 6M: 7.02%
• YTD: 11.59%
• 1Y: 25.76%
• 3Y*: 17.14%
• 5Y*: 9.55%
• 10Y*: 9.92%
• ALL TIME*: 5.03%

BRO

• 1D: -0.59%
• 1M: 16.65%
• 6M: -13.38%
• YTD: -13.05%
• 1Y: -33.02%
• 3Y*: -0.37%
• 5Y*: 6.03%
• 10Y*: 15.04%
• ALL TIME*: 14.93%

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

VEA vs. BRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEA Vanguard FTSE Developed Markets ETF	11.59%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%
BRO Brown & Brown, Inc.	-13.05%	-21.37%	44.32%	25.73%	-18.39%	49.31%	21.06%	44.67%	8.30%	16.15%

Correlation

The correlation between VEA and BRO is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007	0.46

The correlation between VEA and BRO shifts across timeframes, from -0.16 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VEA vs. BRO — Risk / Return Rank

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

VEA

VEA Risk / Return Rank: 61
VEA Sharpe Ratio Rank: 61
VEA Sortino Ratio Rank: 59
VEA Omega Ratio Rank: 60
VEA Calmar Ratio Rank: 59
VEA Martin Ratio Rank: 64

BRO

BRO Risk / Return Rank: 11
BRO Sharpe Ratio Rank: 4
BRO Sortino Ratio Rank: 7
BRO Omega Ratio Rank: 7
BRO Calmar Ratio Rank: 18
BRO Martin Ratio Rank: 18

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.

VEA vs. BRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Markets ETF (VEA) and Brown & Brown, Inc. (BRO). 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.

	VEA	BRO	Difference
Sharpe ratio: Return per unit of total volatility	1.52	-1.09	+2.61
Sortino ratio: Return per unit of downside risk	2.12	-1.48	+3.60
Omega ratio: Gain probability vs. loss probability	1.28	0.81	+0.47
Calmar ratio: Return relative to maximum drawdown	2.23	-0.71	+2.93
Martin ratio: Return relative to average drawdown	8.35	-1.17	+9.52

VEA vs. BRO - Sharpe Ratio Comparison

The current VEA Sharpe Ratio is 1.52, which is higher than the BRO Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of VEA and BRO, 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

VEA vs. BRO - Drawdown Comparison

The maximum VEA drawdown since its inception was -60.68%, which is greater than BRO's maximum drawdown of -55.85%. Use the drawdown chart below to compare losses from any high point for VEA and BRO.

Drawdown Indicators

	VEA	BRO	Difference
Max Drawdown Largest peak-to-trough decline	-60.68%	-55.85%	-4.83%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-46.93%	+35.30%
Max Drawdown (3Y) Largest decline over 3 years	-13.45%	-55.85%	+42.40%
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	-55.85%	+26.14%
Max Drawdown (10Y) Largest decline over 10 years	-35.73%	-55.85%	+20.12%
Current Drawdown Current decline from peak	-4.37%	-44.02%	+39.65%
Average Drawdown Average peak-to-trough decline	-13.22%	-13.63%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	28.61%	-25.52%

Volatility

VEA vs. BRO - Volatility Comparison

The current volatility for Vanguard FTSE Developed Markets ETF (VEA) is 5.31%, while Brown & Brown, Inc. (BRO) has a volatility of 11.02%. This indicates that VEA experiences smaller price fluctuations and is considered to be less risky than BRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEA	BRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	11.02%	-5.71%
Volatility (6M) Calculated over the trailing 6-month period	15.14%	23.89%	-8.75%
Volatility (1Y) Calculated over the trailing 1-year period	17.09%	30.37%	-13.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	25.27%	-8.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	23.84%	-6.66%

Dividends

VEA vs. BRO - Dividend Comparison

VEA's dividend yield for the trailing twelve months is around 2.62%, more than BRO's 0.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRO Brown & Brown, Inc.	0.94%	0.77%	0.53%	0.67%	0.74%	0.54%	0.73%	0.82%	1.11%	1.08%	1.12%	1.41%
VEA Vanguard FTSE Developed Markets ETF	2.62%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both VEA and BRO in my portfolio?

VEA and BRO have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEA or BRO?

BRO has higher volatility (11.02%) compared to VEA (5.31%). In terms of maximum drawdown, VEA dropped -60.68% vs BRO's -55.85%.

Which has better risk-adjusted returns?

VEA currently has the higher Sharpe Ratio (1.52 vs -1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.