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VEF.TO vs. VGRO.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEF.TO vs. VGRO.TO

Last updated Jun 5, 2026

VEF.TO (Vanguard FTSE Developed All Cap Ex US) and VGRO.TO (Vanguard Growth ETF Portfolio) are both exchange-traded funds - VEF.TO is a Global Equities fund tracking the Spliced FTSE Developed ex US Index Hedged in CAD, while VGRO.TO is a Diversified Portfolio fund actively managed by Vanguard. VEF.TO is passively managed, while VGRO.TO is actively managed. Over the past 5 years, VEF.TO returned 12.75%/yr vs 11.00%/yr for VGRO.TO. Their correlation of 0.83 suggests significant overlap in exposure. VEF.TO charges 0.22%/yr vs 0.20%/yr for VGRO.TO.

Performance

VEF.TO vs. VGRO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap Ex US (VEF.TO) and Vanguard Growth ETF Portfolio (VGRO.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VEF.TO achieves a 16.23% return, which is significantly higher than VGRO.TO's 10.97% return.

VEF.TO

1D
0.15%
1M
5.53%
YTD
16.23%
6M
18.10%
1Y
33.94%
3Y*
19.22%
5Y*
12.75%
10Y*
11.26%

VGRO.TO

1D
0.57%
1M
5.12%
YTD
10.97%
6M
9.68%
1Y
25.48%
3Y*
18.25%
5Y*
11.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEF.TO vs. VGRO.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VEF.TO
Vanguard FTSE Developed All Cap Ex US		16.23%24.61%10.91%18.02%-7.54%18.04%2.10%22.61%-12.84%
VGRO.TO
Vanguard Growth ETF Portfolio		10.97%16.11%19.27%14.79%-11.21%14.79%10.85%17.74%-4.13%

Correlation

The correlation between VEF.TO and VGRO.TO is 0.87, 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

0.87

Correlation (3Y)
Calculated over the trailing 3-year period

0.83

Correlation (5Y)
Calculated over the trailing 5-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2018

0.83

The correlation between VEF.TO and VGRO.TO has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

VEF.TO vs. VGRO.TO - Sectors Allocation Comparison

Sectors
VEF.TO
VGRO.TO

Financial Services

23.3%
20.6%

Industrials

19.2%
11.6%

Technology

13.8%
20.3%

Healthcare

8.2%
6.7%

Basic Materials

7.5%
8.6%

Consumer Cyclical

7.5%
7.8%

Consumer Defensive

5.6%
4.6%

Energy

5.4%
8.7%

Communication Services

3.4%
6.0%

Utilities

3.3%
2.8%

Real Estate

2.7%
2.3%

Financial Services

VEF.TO
23.3%
VGRO.TO
20.6%

Industrials

VEF.TO
19.2%
VGRO.TO
11.6%

Technology

VEF.TO
13.8%
VGRO.TO
20.3%

Healthcare

VEF.TO
8.2%
VGRO.TO
6.7%

Basic Materials

VEF.TO
7.5%
VGRO.TO
8.6%

Consumer Cyclical

VEF.TO
7.5%
VGRO.TO
7.8%

Consumer Defensive

VEF.TO
5.6%
VGRO.TO
4.6%

Energy

VEF.TO
5.4%
VGRO.TO
8.7%

Communication Services

VEF.TO
3.4%
VGRO.TO
6.0%

Utilities

VEF.TO
3.3%
VGRO.TO
2.8%

Real Estate

VEF.TO
2.7%
VGRO.TO
2.3%

Compare stocks, funds, or ETFs

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Vanguard FTSE Developed All Cap Ex US

Vanguard Growth ETF Portfolio

Often compared with VEF.TO:
VEF.TO vs. XEF.TOVEF.TO vs. VDU.TOVEF.TO vs. VEAVEF.TO vs. VFV.TOVEF.TO vs. VXUSVEF.TO vs. XEH.TOVEF.TO vs. VUG
Often compared with VGRO.TO:
VGRO.TO vs. VEQT.TOVGRO.TO vs. XEQT.TOVGRO.TO vs. VBAL.TOVGRO.TO vs. XGRO.TOVGRO.TO vs. VDY.TOVGRO.TO vs. TGRO.TOVGRO.TO vs. ZGRO.TO

Return for Risk

VEF.TO vs. VGRO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEF.TO
VEF.TO Risk / Return Rank: 7878
Overall Rank
VEF.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
VEF.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
VEF.TO Omega Ratio Rank: 8383
Omega Ratio Rank
VEF.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
VEF.TO Martin Ratio Rank: 7878
Martin Ratio Rank
VGRO.TO
VGRO.TO Risk / Return Rank: 8181
Overall Rank
VGRO.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
VGRO.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
VGRO.TO Omega Ratio Rank: 8383
Omega Ratio Rank
VGRO.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
VGRO.TO Martin Ratio Rank: 8181
Martin Ratio Rank
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.

VEF.TO vs. VGRO.TO - 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 Vanguard Growth ETF Portfolio (VGRO.TO). 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.TOVGRO.TODifference
Sharpe ratioReturn per unit of total volatility
2.60
2.66

-0.05

Sortino ratioReturn per unit of downside risk
3.55
3.72

-0.17

Omega ratioGain probability vs. loss probability

1.50

1.50

0.00

Calmar ratioReturn relative to maximum drawdown

3.45

3.65

-0.20

Martin ratioReturn relative to average drawdown

14.81

15.92

-1.10

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEF.TO vs. VGRO.TO - Sharpe Ratio Comparison

The current VEF.TO Sharpe Ratio is 2.60, which is comparable to the VGRO.TO Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of VEF.TO and VGRO.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VEF.TOVGRO.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.60

2.66

-0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.95

1.04

-0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.82

-0.11

Drawdowns

VEF.TO vs. VGRO.TO - Drawdown Comparison

The maximum VEF.TO drawdown since its inception was -33.03%, which is greater than VGRO.TO's maximum drawdown of -25.36%. Use the drawdown chart below to compare losses from any high point for VEF.TO and VGRO.TO.

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Drawdown Indicators

VEF.TOVGRO.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.03%

-25.36%

-7.67%

Max Drawdown (1Y)

Largest decline over 1 year

-9.89%

-7.01%

-2.88%

Max Drawdown (3Y)

Largest decline over 3 years

-13.78%

-12.50%

-1.28%

Max Drawdown (5Y)

Largest decline over 5 years

-16.35%

-17.39%

+1.04%

Max Drawdown (10Y)

Largest decline over 10 years

-33.03%

—

—

Current Drawdown

Current decline from peak

-0.29%

0.00%

-0.29%

Average Drawdown

Average peak-to-trough decline

-4.26%

-3.41%

-0.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.30%

1.60%

+0.70%

Volatility

VEF.TO vs. VGRO.TO - Volatility Comparison

Vanguard FTSE Developed All Cap Ex US (VEF.TO) has a higher volatility of 4.76% compared to Vanguard Growth ETF Portfolio (VGRO.TO) at 3.18%. This indicates that VEF.TO's price experiences larger fluctuations and is considered to be riskier than VGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEF.TOVGRO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.76%

3.18%

+1.58%

Volatility (6M)

Calculated over the trailing 6-month period

11.05%

7.88%

+3.17%

Volatility (1Y)

Calculated over the trailing 1-year period

13.11%

9.63%

+3.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.51%

10.64%

+2.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.50%

12.53%

+2.97%

VEF.TO vs. VGRO.TO - Expense Ratio Comparison

VEF.TO has a 0.22% expense ratio, which is higher than VGRO.TO's 0.20% 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%.

Dividends

VEF.TO vs. VGRO.TO - Dividend Comparison

VEF.TO's dividend yield for the trailing twelve months is around 2.04%, more than VGRO.TO's 1.70% yield.

PositionTTM20252024202320222021202020192018201720162015
VEF.TO
Vanguard FTSE Developed All Cap Ex US		2.04%2.61%2.55%2.50%2.21%2.55%1.73%2.41%2.64%2.21%2.31%2.39%
VGRO.TO
Vanguard Growth ETF Portfolio		1.70%1.88%2.01%2.13%2.14%1.80%1.77%2.17%2.09%0.00%0.00%0.00%

Frequently Asked Questions

VEF.TO and VGRO.TO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VGRO.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VGRO.TO is cheaper with a 0.20% expense ratio, compared with 0.22% for VEF.TO.

VEF.TO is categorized as Global Equities, while VGRO.TO is Diversified Portfolio. Their fees differ too: 0.22% for VEF.TO and 0.20% for VGRO.TO.

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