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VEQ.AX vs. VAE.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEQ.AX vs. VAE.AX

Last updated Jul 16, 2026
Documentation

VEQ.AX (Vanguard FTSE Europe Shares ETF) and VAE.AX (Vanguard FTSE Asia ex Japan Shares Index ETF) are both exchange-traded funds - VEQ.AX is a Europe Equities fund tracking the Vanguard FTSE Europe Shares Index, while VAE.AX is a Asia Pacific Equities fund tracking the FTSE Asia Pacific ex Japan, Australia and New Zealand Index. Both are passively managed. Over the past 10 years, VEQ.AX returned 9.65%/yr vs 9.73%/yr for VAE.AX. At a 0.46 correlation, their price movements are largely independent.

Performance

VEQ.AX vs. VAE.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard FTSE Europe Shares ETF (VEQ.AX) and Vanguard FTSE Asia ex Japan Shares Index ETF (VAE.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VEQ.AX achieves a 2.32% return, which is significantly lower than VAE.AX's 14.07% return. Both investments have delivered pretty close results over the past 10 years, with VEQ.AX having a 9.65% annualized return and VAE.AX not far ahead at 9.73%.

VEQ.AX

1D
0.47%
1M
0.55%
6M
0.83%
YTD
2.32%
1Y
8.94%
3Y*
13.35%
5Y*
9.30%
10Y*
9.65%

VAE.AX

1D
-2.15%
1M
-4.88%
6M
8.90%
YTD
14.07%
1Y
26.35%
3Y*
19.84%
5Y*
7.50%
10Y*
9.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEQ.AX vs. VAE.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEQ.AX
Vanguard FTSE Europe Shares ETF		2.32%25.53%10.16%16.98%-10.66%21.83%-3.34%24.19%-6.81%16.93%
VAE.AX
Vanguard FTSE Asia ex Japan Shares Index ETF		14.07%23.98%22.74%3.18%-14.06%0.49%12.05%17.01%-5.50%27.59%

Correlation

The correlation between VEQ.AX and VAE.AX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

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

0.37

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

0.43

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

0.46

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2015

0.46

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Vanguard FTSE Europe Shares ETF

Vanguard FTSE Asia ex Japan Shares Index ETF

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Return for Risk

VEQ.AX vs. VAE.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEQ.AX
VEQ.AX Risk / Return Rank: 2525
Overall Rank
VEQ.AX Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
VEQ.AX Sortino Ratio Rank: 2525
Sortino Ratio Rank
VEQ.AX Omega Ratio Rank: 2727
Omega Ratio Rank
VEQ.AX Calmar Ratio Rank: 2121
Calmar Ratio Rank
VEQ.AX Martin Ratio Rank: 2525
Martin Ratio Rank
VAE.AX
VAE.AX Risk / Return Rank: 4949
Overall Rank
VAE.AX Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
VAE.AX Sortino Ratio Rank: 4444
Sortino Ratio Rank
VAE.AX Omega Ratio Rank: 4747
Omega Ratio Rank
VAE.AX Calmar Ratio Rank: 5757
Calmar Ratio Rank
VAE.AX Martin Ratio Rank: 5050
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.

VEQ.AX vs. VAE.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Europe Shares ETF (VEQ.AX) and Vanguard FTSE Asia ex Japan Shares Index ETF (VAE.AX). 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.

VEQ.AXVAE.AXDifference
Sharpe ratioReturn per unit of total volatility
0.78
1.35

-0.57

Sortino ratioReturn per unit of downside risk
1.18
1.88

-0.70

Omega ratioGain probability vs. loss probability

1.16

1.25

-0.10

Calmar ratioReturn relative to maximum drawdown

0.79

2.32

-1.54

Martin ratioReturn relative to average drawdown

2.57

6.98

-4.42

VEQ.AX vs. VAE.AX - Sharpe Ratio Comparison

The current VEQ.AX Sharpe Ratio is 0.78, which is lower than the VAE.AX Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of VEQ.AX and VAE.AX, 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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Drawdowns

VEQ.AX vs. VAE.AX - Drawdown Comparison

The maximum VEQ.AX drawdown since its inception was -28.50%, smaller than the maximum VAE.AX drawdown of -31.55%. Use the drawdown chart below to compare losses from any high point for VEQ.AX and VAE.AX.

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Drawdown Indicators

VEQ.AXVAE.AXDifference

Max Drawdown

Largest peak-to-trough decline

-28.50%

-31.55%

+3.05%

Max Drawdown (1Y)

Largest decline over 1 year

-12.42%

-10.43%

-1.99%

Max Drawdown (3Y)

Largest decline over 3 years

-12.42%

-10.43%

-1.99%

Max Drawdown (5Y)

Largest decline over 5 years

-25.44%

-28.79%

+3.35%

Max Drawdown (10Y)

Largest decline over 10 years

-28.50%

-31.55%

+3.05%

Current Drawdown

Current decline from peak

-1.79%

-8.01%

+6.22%

Average Drawdown

Average peak-to-trough decline

-5.47%

-7.69%

+2.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.86%

3.54%

+0.32%

Volatility

VEQ.AX vs. VAE.AX - Volatility Comparison

The current volatility for Vanguard FTSE Europe Shares ETF (VEQ.AX) is 2.53%, while Vanguard FTSE Asia ex Japan Shares Index ETF (VAE.AX) has a volatility of 8.45%. This indicates that VEQ.AX experiences smaller price fluctuations and is considered to be less risky than VAE.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEQ.AXVAE.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.53%

8.45%

-5.92%

Volatility (6M)

Calculated over the trailing 6-month period

11.15%

16.54%

-5.39%

Volatility (1Y)

Calculated over the trailing 1-year period

12.62%

18.03%

-5.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.43%

15.44%

-2.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.12%

14.78%

-0.66%

Dividends

VEQ.AX vs. VAE.AX - Dividend Comparison

VEQ.AX's dividend yield for the trailing twelve months is around 1.52%, more than VAE.AX's 1.18% yield.

PositionTTM2025202420232022202120202019201820172016
VAE.AX
Vanguard FTSE Asia ex Japan Shares Index ETF		1.18%2.29%3.07%1.93%0.73%0.58%1.00%1.83%2.59%1.44%2.26%
VEQ.AX
Vanguard FTSE Europe Shares ETF		1.52%2.28%1.39%2.56%2.06%1.91%2.32%2.62%2.36%1.77%2.35%

Frequently Asked Questions

VEQ.AX and VAE.AX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEQ.AX is categorized as Europe Equities, while VAE.AX is Asia Pacific Equities. VEQ.AX tracks Vanguard FTSE Europe Shares Index, while VAE.AX tracks FTSE Asia Pacific ex Japan, Australia and New Zealand Index.

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