VEU vs. EPIN

Last updated Aug 4, 2026

VEU (Vanguard FTSE All-World ex-US ETF) and EPIN (Harbor International Equity ETF) are both Foreign Large Cap Equities funds. VEU is passively managed, while EPIN is actively managed. Over the past year, VEU returned 28.98% vs 38.63% for EPIN. Their correlation of 0.93 means they have usually moved in the same direction. VEU charges 0.04%/yr vs 0.80%/yr for EPIN.

Performance

VEU vs. EPIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US ETF (VEU) and Harbor International Equity ETF (EPIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEU achieves a 13.83% return, which is significantly lower than EPIN's 23.91% 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%

EPIN

• 1D: 0.45%
• 1M: -0.25%
• 6M: 14.24%
• YTD: 23.91%
• 1Y: 38.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.02%

*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)
EPIN Harbor International Equity ETF	$42.70K	$24.96K	$19.91K
VEU Vanguard FTSE All-World ex-US ETF	$232.81M	$239.63M	$222.48M

VEU vs. EPIN - Yearly Performance Comparison

	2026 (YTD)	2025
VEU Vanguard FTSE All-World ex-US ETF	13.83%	14.77%
EPIN Harbor International Equity ETF	23.91%	14.36%

Correlation

The correlation between VEU and EPIN is 0.93, 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.	0.93
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.93

The correlation between VEU and EPIN has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

VEU vs. EPIN - Sectors Allocation Comparison

Sectors	VEU	EPIN
Technology	23.2%	29.6%
Financial Services	23.1%	19.1%
Industrials	14.7%	20.6%
Consumer Cyclical	7.6%	7.0%
Healthcare	6.8%	8.2%
Basic Materials	6.5%	7.1%
Consumer Defensive	4.9%	3.6%
Energy	4.3%	3.8%
Communication Services	4.2%	1.0%
Utilities	3.0%	-
Real Estate	1.8%	-

Return for Risk

VEU vs. EPIN — Risk / Return Rank

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

VEU

VEU Risk / Return Rank: 73
VEU Sharpe Ratio Rank: 74
VEU Sortino Ratio Rank: 73
VEU Omega Ratio Rank: 75
VEU Calmar Ratio Rank: 72
VEU Martin Ratio Rank: 74

EPIN

EPIN Risk / Return Rank: 81
EPIN Sharpe Ratio Rank: 81
EPIN Sortino Ratio Rank: 78
EPIN Omega Ratio Rank: 80
EPIN Calmar Ratio Rank: 83
EPIN Martin Ratio Rank: 82

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. EPIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US ETF (VEU) and Harbor International Equity ETF (EPIN). 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	EPIN	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.03	-0.31
Sortino ratio: Return per unit of downside risk	2.38	2.75	-0.37
Omega ratio: Gain probability vs. loss probability	1.32	1.37	-0.05
Calmar ratio: Return relative to maximum drawdown	2.55	3.34	-0.79
Martin ratio: Return relative to average drawdown	9.31	12.00	-2.69

VEU vs. EPIN - Sharpe Ratio Comparison

The current VEU Sharpe Ratio is 1.72, which is comparable to the EPIN Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of VEU and EPIN, 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

VEU vs. EPIN - Drawdown Comparison

The maximum VEU drawdown since its inception was -61.52%, which is greater than EPIN's maximum drawdown of -11.64%. Use the drawdown chart below to compare losses from any high point for VEU and EPIN.

Drawdown Indicators

	VEU	EPIN	Difference
Max Drawdown Largest peak-to-trough decline	-61.52%	-11.64%	-49.88%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-11.64%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-13.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.98%	—	—
Current Drawdown Current decline from peak	-2.36%	-2.05%	-0.31%
Average Drawdown Average peak-to-trough decline	-13.04%	-1.93%	-11.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	3.23%	-0.11%

Volatility

VEU vs. EPIN - Volatility Comparison

Vanguard FTSE All-World ex-US ETF (VEU) and Harbor International Equity ETF (EPIN) have volatilities of 5.32% and 5.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEU	EPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	5.57%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	15.02%	16.91%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.96%	19.13%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.37%	18.34%	-1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.08%	18.34%	-1.26%

VEU vs. EPIN - Expense Ratio Comparison

VEU has a 0.04% expense ratio, which is lower than EPIN's 0.80% expense ratio.

Dividends

VEU vs. EPIN - Dividend Comparison

VEU's dividend yield for the trailing twelve months is around 2.54%, more than EPIN's 0.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPIN Harbor International Equity ETF	0.64%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both VEU and EPIN in my portfolio?

With a correlation of 0.93, VEU and EPIN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VEU or EPIN?

EPIN has higher volatility (5.57%) compared to VEU (5.32%). In terms of maximum drawdown, VEU dropped -61.52% vs EPIN's -11.64%.

Which ETF is better, VEU or EPIN?

On 1-year performance, EPIN leads with 38.63% vs 28.98% for VEU. On fees, VEU is cheaper at 0.04% per year. On volatility, VEU has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VEU or EPIN?

Over the 1-year period, EPIN has performed better with a 38.63% return vs 28.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VEU or EPIN?

VEU is cheaper with a 0.04% expense ratio, compared with 0.80% for EPIN.

Which ETF pays a higher dividend yield, VEU or EPIN?

VEU has the higher dividend yield at 2.54%, compared with 0.64% for EPIN.

What is the main difference between VEU and EPIN?

They also come from different issuers: Vanguard and Harbor. Their fees differ too: 0.04% for VEU and 0.80% for EPIN.

Which has better risk-adjusted returns?

EPIN currently has the higher Sharpe Ratio (2.03 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.