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VEU.AX vs. VDBA.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEU.AX vs. VDBA.AX

Last updated Jul 16, 2026
Documentation

VEU.AX (Vanguard All-World ex-US Shares Index ETF) and VDBA.AX (Vanguard Diversified Balanced Index ETF) are both exchange-traded funds - VEU.AX is a Global Equities fund tracking the Vanguard All-World ex-US Shares Index Index, while VDBA.AX is a Diversified Portfolio fund tracking the Balanced Composite Index. Both are passively managed. Over the past 5 years, VEU.AX returned 10.68%/yr vs 4.15%/yr for VDBA.AX. A 0.68 correlation means they provide meaningful diversification when combined.

Performance

VEU.AX vs. VDBA.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard All-World ex-US Shares Index ETF (VEU.AX) and Vanguard Diversified Balanced Index ETF (VDBA.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, VEU.AX achieves a 8.18% return, which is significantly higher than VDBA.AX's 2.77% return.

VEU.AX

1D
-0.73%
1M
-1.21%
6M
4.42%
YTD
8.18%
1Y
18.44%
3Y*
17.07%
5Y*
10.68%
10Y*
10.36%

VDBA.AX

1D
0.12%
1M
0.01%
6M
2.53%
YTD
2.77%
1Y
7.42%
3Y*
8.49%
5Y*
4.15%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEU.AX vs. VDBA.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEU.AX
Vanguard All-World ex-US Shares Index ETF		8.18%23.17%16.80%14.76%-8.44%14.15%2.08%22.31%-6.28%-0.55%
VDBA.AX
Vanguard Diversified Balanced Index ETF		2.77%8.27%9.98%10.30%-11.15%6.77%5.21%16.12%-0.34%0.78%

Correlation

The correlation between VEU.AX and VDBA.AX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.73

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

0.67

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

0.69

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2017

0.68

The correlation between VEU.AX and VDBA.AX has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.

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Vanguard All-World ex-US Shares Index ETF

Vanguard Diversified Balanced Index ETF

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Return for Risk

VEU.AX vs. VDBA.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEU.AX
VEU.AX Risk / Return Rank: 5151
Overall Rank
VEU.AX Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
VEU.AX Sortino Ratio Rank: 5252
Sortino Ratio Rank
VEU.AX Omega Ratio Rank: 5757
Omega Ratio Rank
VEU.AX Calmar Ratio Rank: 4444
Calmar Ratio Rank
VEU.AX Martin Ratio Rank: 5151
Martin Ratio Rank
VDBA.AX
VDBA.AX Risk / Return Rank: 3838
Overall Rank
VDBA.AX Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
VDBA.AX Sortino Ratio Rank: 4040
Sortino Ratio Rank
VDBA.AX Omega Ratio Rank: 4040
Omega Ratio Rank
VDBA.AX Calmar Ratio Rank: 3434
Calmar Ratio Rank
VDBA.AX Martin Ratio Rank: 4040
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.

VEU.AX vs. VDBA.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard All-World ex-US Shares Index ETF (VEU.AX) and Vanguard Diversified Balanced Index ETF (VDBA.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.

VEU.AXVDBA.AXDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.14

+0.32

Sortino ratioReturn per unit of downside risk
2.10
1.75

+0.35

Omega ratioGain probability vs. loss probability

1.29

1.22

+0.06

Calmar ratioReturn relative to maximum drawdown

1.83

1.44

+0.39

Martin ratioReturn relative to average drawdown

7.08

5.20

+1.88

VEU.AX vs. VDBA.AX - Sharpe Ratio Comparison

The current VEU.AX Sharpe Ratio is 1.46, which is comparable to the VDBA.AX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of VEU.AX and VDBA.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

VEU.AX vs. VDBA.AX - Drawdown Comparison

The maximum VEU.AX drawdown since its inception was -23.05%, which is greater than VDBA.AX's maximum drawdown of -18.31%. Use the drawdown chart below to compare losses from any high point for VEU.AX and VDBA.AX.

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Drawdown Indicators

VEU.AXVDBA.AXDifference

Max Drawdown

Largest peak-to-trough decline

-23.05%

-18.31%

-4.74%

Max Drawdown (1Y)

Largest decline over 1 year

-9.87%

-5.20%

-4.67%

Max Drawdown (3Y)

Largest decline over 3 years

-9.87%

-7.04%

-2.83%

Max Drawdown (5Y)

Largest decline over 5 years

-18.46%

-15.06%

-3.40%

Max Drawdown (10Y)

Largest decline over 10 years

-23.05%

—

—

Current Drawdown

Current decline from peak

-2.39%

-0.38%

-2.01%

Average Drawdown

Average peak-to-trough decline

-5.33%

-3.17%

-2.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

1.46%

+1.14%

Volatility

VEU.AX vs. VDBA.AX - Volatility Comparison

Vanguard All-World ex-US Shares Index ETF (VEU.AX) has a higher volatility of 3.99% compared to Vanguard Diversified Balanced Index ETF (VDBA.AX) at 1.16%. This indicates that VEU.AX's price experiences larger fluctuations and is considered to be riskier than VDBA.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEU.AXVDBA.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.99%

1.16%

+2.83%

Volatility (6M)

Calculated over the trailing 6-month period

11.17%

5.68%

+5.49%

Volatility (1Y)

Calculated over the trailing 1-year period

12.40%

6.59%

+5.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.20%

7.07%

+4.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.70%

7.80%

+3.90%

Dividends

VEU.AX vs. VDBA.AX - Dividend Comparison

VEU.AX's dividend yield for the trailing twelve months is around 2.65%, less than VDBA.AX's 4.70% yield.

PositionTTM20252024202320222021202020192018201720162015
VDBA.AX
Vanguard Diversified Balanced Index ETF		4.70%2.21%1.32%1.28%2.83%7.07%4.71%1.72%0.96%0.00%0.00%0.00%
VEU.AX
Vanguard All-World ex-US Shares Index ETF		2.65%3.11%3.69%4.26%3.33%3.09%2.32%3.17%1.63%0.87%1.05%1.21%

Frequently Asked Questions

VEU.AX and VDBA.AX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEU.AX is categorized as Global Equities, while VDBA.AX is Diversified Portfolio. VEU.AX tracks Vanguard All-World ex-US Shares Index Index, while VDBA.AX tracks Balanced Composite Index.

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