VEA vs. USFR
VEA (Vanguard FTSE Developed Markets ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, VEA returned 10.72%/yr vs 2.42%/yr for USFR. At a 0.00 correlation, their price movements are largely independent. VEA charges 0.03%/yr vs 0.15%/yr for USFR.
Performance
VEA vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, VEA achieves a 14.73% return, which is significantly higher than USFR's 1.72% return. Over the past 10 years, VEA has outperformed USFR with an annualized return of 10.72%, while USFR has yielded a comparatively lower 2.42% annualized return.
VEA
- 1D
- 0.34%
- 1M
- 1.30%
- YTD
- 14.73%
- 6M
- 16.65%
- 1Y
- 29.82%
- 3Y*
- 19.03%
- 5Y*
- 9.51%
- 10Y*
- 10.72%
USFR
- 1D
- 0.02%
- 1M
- 0.31%
- YTD
- 1.72%
- 6M
- 1.96%
- 1Y
- 4.03%
- 3Y*
- 4.77%
- 5Y*
- 3.70%
- 10Y*
- 2.42%
VEA vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEA Vanguard FTSE Developed Markets ETF | 14.73% | 35.16% | 3.15% | 17.93% | -15.34% | 11.66% | 9.71% | 22.62% | -14.75% | 26.42% |
USFR WisdomTree Floating Rate Treasury Fund | 1.72% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between VEA and USFR is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.00 |
The correlation between VEA and USFR shifts across timeframes, from -0.11 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VEA vs. USFR — Risk / Return Rank
VEA
USFR
VEA vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Markets ETF (VEA) and WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.14 | ||
| Sortino ratioReturn per unit of downside risk | -48.14 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 13.43 | -12.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 203.42 | -200.84 |
| Martin ratioReturn relative to average drawdown | 9.92 | 787.83 | -777.91 |
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Drawdowns
VEA vs. USFR - Drawdown Comparison
The maximum VEA drawdown since its inception was -60.68%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for VEA and USFR.
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Drawdown Indicators
| VEA | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.68% | -1.36% | -59.32% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -0.02% | -11.61% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -0.06% | -13.39% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -0.18% | -29.53% |
Max Drawdown (10Y)Largest decline over 10 years | -35.73% | -0.80% | -34.93% |
Current DrawdownCurrent decline from peak | -1.06% | 0.00% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -13.28% | -0.16% | -13.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 0.01% | +3.01% |
Volatility
VEA vs. USFR - Volatility Comparison
Vanguard FTSE Developed Markets ETF (VEA) has a higher volatility of 6.84% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.08%. This indicates that VEA's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEA | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 0.08% | +6.76% |
Volatility (6M)Calculated over the trailing 6-month period | 14.38% | 0.19% | +14.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.58% | 0.27% | +16.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 0.40% | +16.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.40% | 0.78% | +16.62% |
VEA vs. USFR - Expense Ratio Comparison
VEA has a 0.03% expense ratio, which is lower than USFR's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VEA vs. USFR - Dividend Comparison
VEA's dividend yield for the trailing twelve months is around 2.62%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
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
VEA and USFR have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEA has higher volatility (6.84%) compared to USFR (0.08%). In terms of maximum drawdown, VEA dropped -60.68% vs USFR's -1.36%.
On 10-year performance, VEA leads with 10.72% vs 2.42% for USFR. On fees, VEA is cheaper at 0.03% per year. On volatility, USFR has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VEA has performed better with a 10.72% return vs 2.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEA is cheaper with a 0.03% expense ratio, compared with 0.15% for USFR.
USFR has the higher dividend yield at 3.91%, compared with 2.62% for VEA.
VEA is categorized as Foreign Large Cap Equities, while USFR is Government Bonds. VEA tracks FTSE Developed All Cap ex US Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.03% for VEA and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.95 vs 1.81), 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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