VEA vs. CNQ
VEA (Vanguard FTSE Developed Markets ETF) is Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index, while CNQ (Canadian Natural Resources Limited) is a stock. Over the past 10 years, VEA returned 10.14%/yr vs 18.22%/yr for CNQ. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
VEA vs. CNQ - Performance Comparison
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Returns By Period
In the year-to-date period, VEA achieves a 12.02% return, which is significantly lower than CNQ's 37.99% return. Over the past 10 years, VEA has underperformed CNQ with an annualized return of 10.14%, while CNQ has yielded a comparatively higher 18.22% annualized return.
VEA
- 1D
- 1.00%
- 1M
- -1.37%
- YTD
- 12.02%
- 6M
- 14.95%
- 1Y
- 28.06%
- 3Y*
- 18.65%
- 5Y*
- 9.09%
- 10Y*
- 10.14%
CNQ
- 1D
- 1.29%
- 1M
- 3.95%
- YTD
- 37.99%
- 6M
- 38.89%
- 1Y
- 53.83%
- 3Y*
- 23.71%
- 5Y*
- 26.79%
- 10Y*
- 18.22%
VEA vs. CNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEA Vanguard FTSE Developed Markets ETF | 12.02% | 35.16% | 3.15% | 17.93% | -15.34% | 11.66% | 9.71% | 22.62% | -14.75% | 26.42% |
CNQ Canadian Natural Resources Limited | 37.99% | 15.58% | -1.31% | 23.72% | 42.82% | 83.55% | -19.06% | 39.72% | -29.92% | 15.97% |
Correlation
The correlation between VEA and CNQ is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2007 | 0.54 |
The correlation between VEA and CNQ shifts across timeframes, from -0.05 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VEA vs. CNQ — Risk / Return Rank
VEA
CNQ
VEA vs. CNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Markets ETF (VEA) and Canadian Natural Resources Limited (CNQ). 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.
| VEA | CNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 3.82 | -1.40 |
| Martin ratioReturn relative to average drawdown | 9.39 | 8.73 | +0.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEA | CNQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 1.87 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.82 | -0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.45 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.41 | -0.17 |
Drawdowns
VEA vs. CNQ - Drawdown Comparison
The maximum VEA drawdown since its inception was -60.68%, smaller than the maximum CNQ drawdown of -80.75%. Use the drawdown chart below to compare losses from any high point for VEA and CNQ.
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Drawdown Indicators
| VEA | CNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.68% | -80.75% | +20.07% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -14.16% | +2.53% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -35.85% | +22.40% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -35.85% | +6.14% |
Max Drawdown (10Y)Largest decline over 10 years | -35.73% | -77.84% | +42.11% |
Current DrawdownCurrent decline from peak | -3.40% | -7.60% | +4.20% |
Average DrawdownAverage peak-to-trough decline | -13.29% | -23.52% | +10.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 6.18% | -3.18% |
Volatility
VEA vs. CNQ - Volatility Comparison
The current volatility for Vanguard FTSE Developed Markets ETF (VEA) is 6.03%, while Canadian Natural Resources Limited (CNQ) has a volatility of 8.80%. This indicates that VEA experiences smaller price fluctuations and is considered to be less risky than CNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEA | CNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.03% | 8.80% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 13.91% | 23.90% | -9.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.15% | 28.96% | -12.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.63% | 32.84% | -16.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.40% | 40.26% | -22.86% |
Dividends
VEA vs. CNQ - Dividend Comparison
VEA's dividend yield for the trailing twelve months is around 2.69%, less than CNQ's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ Canadian Natural Resources Limited | 3.76% | 5.01% | 5.02% | 4.17% | 6.31% | 3.78% | 5.26% | 3.49% | 4.56% | 3.08% | 2.94% | 4.21% |
VEA Vanguard FTSE Developed Markets ETF | 2.69% | 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
VEA and CNQ have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNQ has higher volatility (8.80%) compared to VEA (6.03%). In terms of maximum drawdown, VEA dropped -60.68% vs CNQ's -80.75%.
CNQ currently has the higher Sharpe Ratio (1.87 vs 1.75), 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.
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