VEF.TO vs. CIE.NEO
VEF.TO (Vanguard FTSE Developed All Cap Ex US) and CIE.NEO (iShares International Fundamental Common Class) are both Global Equities funds - VEF.TO tracks the Spliced FTSE Developed ex US Index Hedged in CAD while CIE.NEO tracks the FTSE RAFI Developed ex US 1000 Index. Both are passively managed. Over the past 10 years, VEF.TO returned 11.33%/yr vs 11.89%/yr for CIE.NEO. A 0.73 correlation means they provide meaningful diversification when combined. VEF.TO charges 0.22%/yr vs 0.73%/yr for CIE.NEO.
Performance
VEF.TO vs. CIE.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, VEF.TO achieves a 16.05% return, which is significantly lower than CIE.NEO's 17.83% return. Both investments have delivered pretty close results over the past 10 years, with VEF.TO having a 11.33% annualized return and CIE.NEO not far ahead at 11.89%.
VEF.TO
- 1D
- -0.44%
- 1M
- 7.02%
- YTD
- 16.05%
- 6M
- 18.30%
- 1Y
- 33.85%
- 3Y*
- 19.04%
- 5Y*
- 12.71%
- 10Y*
- 11.33%
CIE.NEO
- 1D
- -0.39%
- 1M
- 6.26%
- YTD
- 17.83%
- 6M
- 19.92%
- 1Y
- 39.49%
- 3Y*
- 25.09%
- 5Y*
- 15.50%
- 10Y*
- 11.89%
VEF.TO vs. CIE.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEF.TO Vanguard FTSE Developed All Cap Ex US | 16.05% | 24.61% | 10.91% | 18.02% | -7.54% | 18.04% | 2.10% | 22.61% | -11.96% | 16.90% |
CIE.NEO iShares International Fundamental Common Class | 17.83% | 34.92% | 12.83% | 15.59% | -2.83% | 14.42% | 1.33% | 11.29% | -8.19% | 16.74% |
Correlation
The correlation between VEF.TO and CIE.NEO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2011 | 0.73 |
The correlation between VEF.TO and CIE.NEO has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.
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Return for Risk
VEF.TO vs. CIE.NEO — Risk / Return Rank
VEF.TO
CIE.NEO
VEF.TO vs. CIE.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap Ex US (VEF.TO) and iShares International Fundamental Common Class (CIE.NEO). 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.
| VEF.TO | CIE.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.54 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 3.57 | -0.14 |
| Martin ratioReturn relative to average drawdown | 14.77 | 14.78 | -0.01 |
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
| VEF.TO | CIE.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.59 | 2.85 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.95 | 1.13 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.66 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.44 | +0.27 |
Drawdowns
VEF.TO vs. CIE.NEO - Drawdown Comparison
The maximum VEF.TO drawdown since its inception was -33.03%, smaller than the maximum CIE.NEO drawdown of -40.08%. Use the drawdown chart below to compare losses from any high point for VEF.TO and CIE.NEO.
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Drawdown Indicators
| VEF.TO | CIE.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.03% | -40.08% | +7.05% |
Max Drawdown (1Y)Largest decline over 1 year | -9.89% | -11.10% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -13.78% | -15.44% | +1.66% |
Max Drawdown (5Y)Largest decline over 5 years | -16.35% | -20.55% | +4.20% |
Max Drawdown (10Y)Largest decline over 10 years | -33.03% | -40.08% | +7.05% |
Current DrawdownCurrent decline from peak | -0.44% | -0.39% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -4.27% | -7.13% | +2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 2.68% | -0.38% |
Volatility
VEF.TO vs. CIE.NEO - Volatility Comparison
Vanguard FTSE Developed All Cap Ex US (VEF.TO) and iShares International Fundamental Common Class (CIE.NEO) have volatilities of 4.94% and 4.85%, 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.
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Volatility by Period
| VEF.TO | CIE.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 4.85% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 11.56% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.11% | 13.95% | -0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.51% | 13.85% | -0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 18.19% | -2.69% |
VEF.TO vs. CIE.NEO - Expense Ratio Comparison
VEF.TO has a 0.22% expense ratio, which is lower than CIE.NEO's 0.73% expense ratio.
Dividends
VEF.TO vs. CIE.NEO - Dividend Comparison
VEF.TO's dividend yield for the trailing twelve months is around 2.05%, less than CIE.NEO's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIE.NEO iShares International Fundamental Common Class | 2.12% | 2.53% | 2.82% | 3.08% | 3.32% | 2.89% | 2.15% | 3.63% | 3.12% | 2.67% | 2.80% | 2.44% |
VEF.TO Vanguard FTSE Developed All Cap Ex US | 2.05% | 2.61% | 2.55% | 2.50% | 2.21% | 2.55% | 1.73% | 2.41% | 2.64% | 2.21% | 2.31% | 2.39% |
Frequently Asked Questions
VEF.TO and CIE.NEO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEF.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEF.TO is cheaper with a 0.22% expense ratio, compared with 0.73% for CIE.NEO.
VEF.TO tracks Spliced FTSE Developed ex US Index Hedged in CAD, while CIE.NEO tracks FTSE RAFI Developed ex US 1000 Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.22% for VEF.TO and 0.73% for CIE.NEO.
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