VESIX vs. VXUS

Last updated Aug 1, 2026

VESIX (Vanguard European Stock Index Fund Institutional Shares) and VXUS (Vanguard Total International Stock ETF) are both funds - VESIX is a Europe Equities fund managed by Vanguard, while VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index. Over the past 10 years, VESIX returned 10.06%/yr vs 9.44%/yr for VXUS. Their correlation of 0.92 means they have usually moved in the same direction. VESIX charges 0.08%/yr vs 0.05%/yr for VXUS.

Performance

VESIX vs. VXUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard European Stock Index Fund Institutional Shares (VESIX) and Vanguard Total International Stock ETF (VXUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VESIX achieves a 11.07% return, which is significantly lower than VXUS's 12.75% return. Over the past 10 years, VESIX has outperformed VXUS with an annualized return of 10.06%, while VXUS has yielded a comparatively lower 9.44% annualized return.

VESIX

• 1D: 2.27%
• 1M: 1.91%
• 6M: 6.05%
• YTD: 11.07%
• 1Y: 24.80%
• 3Y*: 16.47%
• 5Y*: 9.44%
• 10Y*: 10.06%
• ALL TIME*: 5.67%

VXUS

• 1D: -0.21%
• 1M: -0.29%
• 6M: 6.78%
• YTD: 12.75%
• 1Y: 27.56%
• 3Y*: 17.23%
• 5Y*: 8.78%
• 10Y*: 9.44%
• ALL TIME*: 6.55%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VESIX Vanguard European Stock Index Fund Institutional Shares	$0.00	$0.00	$0.00
VXUS Vanguard Total International Stock ETF	$362.62M	$406.11M	$507.75M

VESIX vs. VXUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VESIX Vanguard European Stock Index Fund Institutional Shares	11.07%	35.43%	2.02%	20.03%	-16.07%	16.31%	6.46%	24.24%	-14.78%	27.05%
VXUS Vanguard Total International Stock ETF	12.75%	32.35%	5.08%	15.86%	-16.08%	8.98%	10.66%	21.75%	-14.43%	27.46%

Correlation

The correlation between VESIX and VXUS is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Jan 28, 2011	0.92

The correlation between VESIX and VXUS has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

VESIX vs. VXUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VESIX

VESIX Risk / Return Rank: 58
VESIX Sharpe Ratio Rank: 61
VESIX Sortino Ratio Rank: 62
VESIX Omega Ratio Rank: 59
VESIX Calmar Ratio Rank: 55
VESIX Martin Ratio Rank: 55

VXUS

VXUS Risk / Return Rank: 71
VXUS Sharpe Ratio Rank: 72
VXUS Sortino Ratio Rank: 69
VXUS Omega Ratio Rank: 72
VXUS Calmar Ratio Rank: 71
VXUS Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VESIX vs. VXUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard European Stock Index Fund Institutional Shares (VESIX) 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.

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.

	VESIX	VXUS	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.62	-0.14
Sortino ratio: Return per unit of downside risk	2.15	2.24	-0.09
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.03
Calmar ratio: Return relative to maximum drawdown	1.94	2.42	-0.48
Martin ratio: Return relative to average drawdown	7.31	8.87	-1.56

VESIX vs. VXUS - Sharpe Ratio Comparison

The current VESIX Sharpe Ratio is 1.48, which is comparable to the VXUS Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of VESIX 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.

Drawdowns

VESIX vs. VXUS - Drawdown Comparison

The maximum VESIX drawdown since its inception was -63.25%, which is greater than VXUS's maximum drawdown of -35.97%. Use the drawdown chart below to compare losses from any high point for VESIX and VXUS.

Drawdown Indicators

	VESIX	VXUS	Difference
Max Drawdown Largest peak-to-trough decline	-63.25%	-35.97%	-27.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-11.27%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-13.94%	-13.58%	-0.36%
Max Drawdown (5Y) Largest decline over 5 years	-32.68%	-29.44%	-3.24%
Max Drawdown (10Y) Largest decline over 10 years	-36.85%	-35.97%	-0.88%
Current Drawdown Current decline from peak	0.00%	-2.84%	+2.84%
Average Drawdown Average peak-to-trough decline	-15.14%	-8.16%	-6.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	3.07%	+0.10%

Volatility

VESIX vs. VXUS - Volatility Comparison

The current volatility for Vanguard European Stock Index Fund Institutional Shares (VESIX) is 4.26%, while Vanguard Total International Stock ETF (VXUS) has a volatility of 5.29%. This indicates that VESIX 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.

Volatility by Period

	VESIX	VXUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	5.29%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	13.33%	15.06%	-1.73%
Volatility (1Y) Calculated over the trailing 1-year period	15.72%	16.86%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.45%	16.35%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.77%	17.03%	+0.74%

VESIX vs. VXUS - Expense Ratio Comparison

VESIX has a 0.08% 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

VESIX vs. VXUS - Dividend Comparison

VESIX's dividend yield for the trailing twelve months is around 2.82%, more than VXUS's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VESIX Vanguard European Stock Index Fund Institutional Shares	2.82%	2.86%	3.60%	3.15%	3.25%	3.04%	2.10%	3.28%	3.95%	2.72%	3.54%	3.27%
VXUS Vanguard Total International Stock ETF	2.59%	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

Can I hold both VESIX and VXUS in my portfolio?

VESIX and VXUS have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VESIX or VXUS?

VXUS has higher volatility (5.29%) compared to VESIX (4.26%). In terms of maximum drawdown, VESIX dropped -63.25% vs VXUS's -35.97%.

Which has better risk-adjusted returns?

VXUS currently has the higher Sharpe Ratio (1.62 vs 1.48), 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.