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VEU vs. EFV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEU vs. EFV

Last updated Aug 4, 2026
Documentation

VEU (Vanguard FTSE All-World ex-US ETF) and EFV (iShares MSCI EAFE Value ETF) are both Foreign Large Cap Equities funds - VEU tracks the FTSE All-World ex US Index while EFV tracks the MSCI EAFE Value Index (Net). Both are passively managed. Over the past 10 years, VEU returned 9.63%/yr vs 10.51%/yr for EFV. Their correlation of 0.94 means they have usually moved in the same direction. VEU charges 0.04%/yr vs 0.31%/yr for EFV.

Performance

VEU vs. EFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US ETF (VEU) and iShares MSCI EAFE Value ETF (EFV). 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 achieves a 13.83% return, which is significantly lower than EFV's 16.57% return. Over the past 10 years, VEU has underperformed EFV with an annualized return of 9.63%, while EFV has yielded a comparatively higher 10.51% annualized return.

VEU

1D
0.45%
1M
0.29%
6M
7.13%
YTD
13.83%
1Y
28.98%
3Y*
18.48%
5Y*
9.01%
10Y*
9.63%
ALL TIME*
5.48%

EFV

1D
0.26%
1M
4.16%
6M
9.61%
YTD
16.57%
1Y
34.58%
3Y*
23.11%
5Y*
14.34%
10Y*
10.51%
ALL TIME*
6.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EFV

iShares MSCI EAFE Value ETF
$246.44M$344.02M$395.70M

VEU

Vanguard FTSE All-World ex-US ETF
$232.81M$239.63M$222.48M

VEU vs. EFV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEU
Vanguard FTSE All-World ex-US ETF		13.83%32.35%5.56%15.84%-15.58%8.27%11.10%21.83%-14.18%27.40%
EFV
iShares MSCI EAFE Value ETF		16.57%42.22%5.35%18.85%-5.22%11.08%-2.97%15.80%-14.67%21.22%

Correlation

The correlation between VEU and EFV is 0.86, 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.

0.86

Correlation (3Y)
Balances recent behavior with more history.

0.90

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 Mar 8, 2007

0.94

The correlation between VEU and EFV has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

VEU vs. EFV - Sectors Allocation Comparison

Sectors
VEU
EFV

Technology

23.2%
3.1%

Financial Services

23.1%
38.8%

Industrials

14.7%
10.0%

Consumer Cyclical

7.6%
5.6%

Healthcare

6.8%
7.6%

Basic Materials

6.5%
6.0%

Consumer Defensive

4.9%
9.8%

Energy

4.3%
6.2%

Communication Services

4.2%
4.1%

Utilities

3.0%
6.1%

Real Estate

1.8%
2.7%

Technology

VEU
23.2%
EFV
3.1%

Financial Services

VEU
23.1%
EFV
38.8%

Industrials

VEU
14.7%
EFV
10.0%

Consumer Cyclical

VEU
7.6%
EFV
5.6%

Healthcare

VEU
6.8%
EFV
7.6%

Basic Materials

VEU
6.5%
EFV
6.0%

Consumer Defensive

VEU
4.9%
EFV
9.8%

Energy

VEU
4.3%
EFV
6.2%

Communication Services

VEU
4.2%
EFV
4.1%

Utilities

VEU
3.0%
EFV
6.1%

Real Estate

VEU
1.8%
EFV
2.7%

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 All-World ex-US ETF

iShares MSCI EAFE Value ETF

Often compared with VEU:
VEU vs. VXUSVEU vs. VEAVEU vs. VOOVEU vs. VGKVEU vs. SPYVEU vs. ACWXVEU vs. VTI
Often compared with EFV:
EFV vs. VEAEFV vs. EFAVEFV vs. FIVAEFV vs. VOOEFV vs. DFIVXEFV vs. VTRIXEFV vs. SCHF

Return for Risk

VEU vs. EFV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VEU
VEU Risk / Return Rank: 7373
Overall Rank
VEU Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
VEU Sortino Ratio Rank: 7373
Sortino Ratio Rank
VEU Omega Ratio Rank: 7575
Omega Ratio Rank
VEU Calmar Ratio Rank: 7272
Calmar Ratio Rank
VEU Martin Ratio Rank: 7474
Martin Ratio Rank
EFV
EFV Risk / Return Rank: 8888
Overall Rank
EFV Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
EFV Sortino Ratio Rank: 9191
Sortino Ratio Rank
EFV Omega Ratio Rank: 9191
Omega Ratio Rank
EFV Calmar Ratio Rank: 8484
Calmar Ratio Rank
EFV Martin Ratio Rank: 8484
Martin Ratio Rank
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.

VEU vs. EFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US ETF (VEU) and iShares MSCI EAFE Value ETF (EFV). 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.

VEUEFVDifference
Sharpe ratioReturn per unit of total volatility
1.72
2.42

-0.70

Sortino ratioReturn per unit of downside risk
2.38
3.32

-0.95

Omega ratioGain probability vs. loss probability

1.32

1.43

-0.12

Calmar ratioReturn relative to maximum drawdown

2.55

3.19

-0.64

Martin ratioReturn relative to average drawdown

9.31

11.90

-2.59

VEU vs. EFV - Sharpe Ratio Comparison

The current VEU Sharpe Ratio is 1.72, which is comparable to the EFV Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of VEU and EFV, 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 vs. EFV - Drawdown Comparison

The maximum VEU drawdown since its inception was -61.52%, roughly equal to the maximum EFV drawdown of -63.94%. Use the drawdown chart below to compare losses from any high point for VEU and EFV.

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Drawdown Indicators

VEUEFVDifference

Max Drawdown

Largest peak-to-trough decline

-61.52%

-63.94%

+2.42%

Max Drawdown (1Y)

Largest decline over 1 year

-11.43%

-10.90%

-0.53%

Max Drawdown (3Y)

Largest decline over 3 years

-13.69%

-13.72%

+0.03%

Max Drawdown (5Y)

Largest decline over 5 years

-29.14%

-25.84%

-3.30%

Max Drawdown (10Y)

Largest decline over 10 years

-34.98%

-43.16%

+8.18%

Current Drawdown

Current decline from peak

-2.36%

-0.27%

-2.09%

Average Drawdown

Average peak-to-trough decline

-13.04%

-14.72%

+1.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.12%

2.91%

+0.21%

Volatility

VEU vs. EFV - Volatility Comparison

Vanguard FTSE All-World ex-US ETF (VEU) has a higher volatility of 5.32% compared to iShares MSCI EAFE Value ETF (EFV) at 3.85%. This indicates that VEU's price experiences larger fluctuations and is considered to be riskier than EFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEUEFVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.32%

3.85%

+1.47%

Volatility (6M)

Calculated over the trailing 6-month period

15.02%

12.21%

+2.81%

Volatility (1Y)

Calculated over the trailing 1-year period

16.96%

14.39%

+2.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.37%

15.95%

+0.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.08%

17.46%

-0.38%

VEU vs. EFV - Expense Ratio Comparison

VEU has a 0.04% expense ratio, which is lower than EFV's 0.31% expense ratio.

Dividends

VEU vs. EFV - Dividend Comparison

VEU's dividend yield for the trailing twelve months is around 2.54%, less than EFV's 4.51% yield.

PositionTTM20252024202320222021202020192018201720162015
EFV
iShares MSCI EAFE Value ETF		4.51%4.16%4.66%4.36%4.17%4.07%2.42%4.62%4.56%3.56%3.28%3.59%
VEU
Vanguard FTSE All-World ex-US ETF		2.54%3.09%3.24%3.32%3.12%3.08%2.00%3.10%3.27%2.66%2.96%2.95%

Frequently Asked Questions

VEU and EFV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEU has higher volatility (5.32%) compared to EFV (3.85%). In terms of maximum drawdown, VEU dropped -61.52% vs EFV's -63.94%.

On 10-year performance, EFV leads with 10.51% vs 9.63% for VEU. On fees, VEU is cheaper at 0.04% per year. On volatility, EFV has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EFV has performed better with a 10.51% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VEU is cheaper with a 0.04% expense ratio, compared with 0.31% for EFV.

EFV has the higher dividend yield at 4.51%, compared with 2.54% for VEU.

VEU tracks FTSE All-World ex US Index, while EFV tracks MSCI EAFE Value Index (Net). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.04% for VEU and 0.31% for EFV.

EFV currently has the higher Sharpe Ratio (2.42 vs 1.72), 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.

Portfolio Optimizer

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