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

VEF.TO vs. VXUS

Last updated Jun 4, 2026

VEF.TO (Vanguard FTSE Developed All Cap Ex US) and VXUS (Vanguard Total International Stock ETF) are both Global Equities funds from Vanguard - VEF.TO tracks the Spliced FTSE Developed ex US Index Hedged in CAD while VXUS tracks the FTSE Global All Cap ex US Index. Both are passively managed. Over the past 10 years, VEF.TO returned 11.33%/yr vs 10.61%/yr for VXUS. Their correlation of 0.81 suggests significant overlap in exposure. VEF.TO charges 0.22%/yr vs 0.05%/yr for VXUS.

Performance

VEF.TO vs. VXUS - 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 Total International Stock ETF (VXUS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VEF.TO is traded in CAD, while VXUS is traded in USD. To make them comparable, the VXUS values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with VEF.TO having a 16.05% return and VXUS slightly higher at 16.39%. Over the past 10 years, VEF.TO has outperformed VXUS with an annualized return of 11.33%, while VXUS has yielded a comparatively lower 10.61% annualized return.

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%

VXUS

1D
0.00%
1M
7.40%
YTD
16.39%
6M
17.16%
1Y
34.50%
3Y*
20.93%
5Y*
11.69%
10Y*
10.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEF.TO vs. VXUS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VXUS
Vanguard Total International Stock ETF		15.70%26.28%14.10%13.31%-10.10%8.00%8.79%15.76%-7.17%19.34%

Correlation

The correlation between VEF.TO and VXUS is 0.85, 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

0.85

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

0.83

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

0.83

Correlation (10Y)
Calculated over the trailing 10-year period

0.82

Correlation (All Time)
Calculated using the full available price history since Dec 7, 2011

0.81

The correlation between VEF.TO and VXUS has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

VEF.TO vs. VXUS - Sectors Allocation Comparison

Sectors
VEF.TO
VXUS

Financial Services

23.3%
22.3%

Industrials

19.2%
16.1%

Technology

13.8%
18.1%

Healthcare

8.2%
7.1%

Basic Materials

7.5%
7.6%

Consumer Cyclical

7.5%
8.4%

Consumer Defensive

5.6%
5.0%

Energy

5.4%
5.2%

Communication Services

3.4%
4.4%

Utilities

3.3%
3.2%

Real Estate

2.7%
2.6%

Financial Services

VEF.TO
23.3%
VXUS
22.3%

Industrials

VEF.TO
19.2%
VXUS
16.1%

Technology

VEF.TO
13.8%
VXUS
18.1%

Healthcare

VEF.TO
8.2%
VXUS
7.1%

Basic Materials

VEF.TO
7.5%
VXUS
7.6%

Consumer Cyclical

VEF.TO
7.5%
VXUS
8.4%

Consumer Defensive

VEF.TO
5.6%
VXUS
5.0%

Energy

VEF.TO
5.4%
VXUS
5.2%

Communication Services

VEF.TO
3.4%
VXUS
4.4%

Utilities

VEF.TO
3.3%
VXUS
3.2%

Real Estate

VEF.TO
2.7%
VXUS
2.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Developed All Cap Ex US

Vanguard Total International Stock ETF

Often compared with VEF.TO:
VEF.TO vs. XEF.TOVEF.TO vs. VDU.TOVEF.TO vs. VEAVEF.TO vs. VFV.TOVEF.TO vs. XEH.TOVEF.TO vs. VUGVEF.TO vs. AVDE
Often compared with VXUS:
VXUS vs. VTIVXUS vs. VOOVXUS vs. VTVXUS vs. VEAVXUS vs. FZILXVXUS vs. VEUVXUS vs. SCHF

Return for Risk

VEF.TO vs. VXUS — 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: 7676
Overall Rank
VEF.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
VEF.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
VEF.TO Omega Ratio Rank: 8181
Omega Ratio Rank
VEF.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VEF.TO Martin Ratio Rank: 7676
Martin Ratio Rank
VXUS
VXUS Risk / Return Rank: 6060
Overall Rank
VXUS Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
VXUS Sortino Ratio Rank: 6060
Sortino Ratio Rank
VXUS Omega Ratio Rank: 6262
Omega Ratio Rank
VXUS Calmar Ratio Rank: 5656
Calmar Ratio Rank
VXUS Martin Ratio Rank: 6161
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. VXUS - 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 Total International Stock ETF (VXUS). 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.TOVXUSDifference
Sharpe ratioReturn per unit of total volatility
2.59
2.44

+0.15

Sortino ratioReturn per unit of downside risk
3.54
3.34

+0.20

Omega ratioGain probability vs. loss probability

1.50

1.46

+0.03

Calmar ratioReturn relative to maximum drawdown

3.44

3.18

+0.25

Martin ratioReturn relative to average drawdown

14.77

13.05

+1.73

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. VXUS - Sharpe Ratio Comparison

The current VEF.TO Sharpe Ratio is 2.59, which is comparable to the VXUS Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of VEF.TO and VXUS, 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.TOVXUSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.59

2.44

+0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.95

0.90

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

0.74

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.63

+0.08

Drawdowns

VEF.TO vs. VXUS - Drawdown Comparison

The maximum VEF.TO drawdown since its inception was -33.03%, which is greater than VXUS's maximum drawdown of -27.91%. Use the drawdown chart below to compare losses from any high point for VEF.TO and VXUS.

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Drawdown Indicators

VEF.TOVXUSDifference

Max Drawdown

Largest peak-to-trough decline

-33.03%

-27.91%

-5.12%

Max Drawdown (1Y)

Largest decline over 1 year

-9.89%

-10.88%

+0.99%

Max Drawdown (3Y)

Largest decline over 3 years

-13.78%

-13.95%

+0.17%

Max Drawdown (5Y)

Largest decline over 5 years

-16.35%

-22.90%

+6.55%

Max Drawdown (10Y)

Largest decline over 10 years

-33.03%

-27.91%

-5.12%

Current Drawdown

Current decline from peak

-0.44%

0.00%

-0.44%

Average Drawdown

Average peak-to-trough decline

-4.27%

-5.12%

+0.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.30%

2.65%

-0.35%

Volatility

VEF.TO vs. VXUS - Volatility Comparison

The current volatility for Vanguard FTSE Developed All Cap Ex US (VEF.TO) is 4.94%, while Vanguard Total International Stock ETF (VXUS) has a volatility of 5.31%. This indicates that VEF.TO experiences smaller price fluctuations and is considered to be less risky than VXUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEF.TOVXUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.94%

5.31%

-0.37%

Volatility (6M)

Calculated over the trailing 6-month period

11.06%

12.25%

-1.19%

Volatility (1Y)

Calculated over the trailing 1-year period

13.11%

14.19%

-1.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.51%

13.09%

+0.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.50%

14.36%

+1.14%

VEF.TO vs. VXUS - Expense Ratio Comparison

VEF.TO has a 0.22% expense ratio, which is higher than VXUS's 0.05% 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. VXUS - Dividend Comparison

VEF.TO's dividend yield for the trailing twelve months is around 2.05%, less than VXUS's 2.66% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VXUS
Vanguard Total International Stock ETF		2.66%3.18%3.37%3.24%3.09%3.10%2.14%3.06%3.18%2.73%2.93%2.83%

Frequently Asked Questions

VEF.TO and VXUS have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VXUS is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VXUS is cheaper with a 0.05% expense ratio, compared with 0.22% for VEF.TO.

VEF.TO tracks Spliced FTSE Developed ex US Index Hedged in CAD, while VXUS tracks FTSE Global All Cap ex US Index. Their fees differ too: 0.22% for VEF.TO and 0.05% for VXUS.

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