VEUA.L vs. VFEG.L

Last updated Jun 14, 2026

VEUA.L (Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating) and VFEG.L (Vanguard FTSE Emerging Markets UCITS ETF Acc) are both exchange-traded funds - VEUA.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while VFEG.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, VEUA.L returned 10.11%/yr vs 5.94%/yr for VFEG.L. A 0.60 correlation means they provide meaningful diversification when combined. VEUA.L charges 0.10%/yr vs 0.22%/yr for VFEG.L.

Performance

VEUA.L vs. VFEG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L) and Vanguard FTSE Emerging Markets UCITS ETF Acc (VFEG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEUA.L achieves a 7.77% return, which is significantly lower than VFEG.L's 10.53% return.

VEUA.L

• 1D: 1.65%
• 1M: 2.57%
• YTD: 7.77%
• 6M: 9.55%
• 1Y: 21.05%
• 3Y*: 14.57%
• 5Y*: 10.11%
• 10Y*: —

VFEG.L

• 1D: 2.30%
• 1M: -0.46%
• YTD: 10.53%
• 6M: 11.48%
• 1Y: 27.98%
• 3Y*: 14.25%
• 5Y*: 5.94%
• 10Y*: —

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

VEUA.L vs. VFEG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VEUA.L Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating	7.77%	26.07%	4.49%	13.46%	-4.21%	16.83%	3.08%	2.59%
VFEG.L Vanguard FTSE Emerging Markets UCITS ETF Acc	10.53%	17.15%	14.12%	1.28%	-7.26%	-0.01%	11.28%	-15.84%

Correlation

The correlation between VEUA.L and VFEG.L is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Sep 24, 2019	0.60

The correlation between VEUA.L and VFEG.L has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.

VEUA.L vs. VFEG.L - Sectors Allocation Comparison

Sectors	VEUA.L	VFEG.L
Financial Services	24.0%	20.8%
Industrials	19.7%	7.1%
Healthcare	12.9%	3.4%
Technology	8.5%	29.6%
Consumer Defensive	8.3%	3.6%
Consumer Cyclical	6.6%	10.8%
Basic Materials	5.6%	7.8%
Energy	5.3%	4.9%
Utilities	5.0%	3.0%
Communication Services	3.0%	7.5%
Real Estate	1.1%	1.7%

Return for Risk

VEUA.L vs. VFEG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VEUA.L

VEUA.L Risk / Return Rank: 50
VEUA.L Sharpe Ratio Rank: 54
VEUA.L Sortino Ratio Rank: 53
VEUA.L Omega Ratio Rank: 56
VEUA.L Calmar Ratio Rank: 42
VEUA.L Martin Ratio Rank: 45

VFEG.L

VFEG.L Risk / Return Rank: 64
VFEG.L Sharpe Ratio Rank: 65
VFEG.L Sortino Ratio Rank: 63
VFEG.L Omega Ratio Rank: 65
VFEG.L Calmar Ratio Rank: 67
VFEG.L Martin Ratio Rank: 60

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.

VEUA.L vs. VFEG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L) and Vanguard FTSE Emerging Markets UCITS ETF Acc (VFEG.L). 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.

	VEUA.L	VFEG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.86	-0.25
Sortino ratio: Return per unit of downside risk	2.27	2.54	-0.27
Omega ratio: Gain probability vs. loss probability	1.30	1.34	-0.04
Calmar ratio: Return relative to maximum drawdown	1.86	2.91	-1.06
Martin ratio: Return relative to average drawdown	6.63	9.38	-2.75

VEUA.L vs. VFEG.L - Sharpe Ratio Comparison

The current VEUA.L Sharpe Ratio is 1.60, which is comparable to the VFEG.L Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of VEUA.L and VFEG.L, 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

VEUA.L vs. VFEG.L - Drawdown Comparison

The maximum VEUA.L drawdown since its inception was -33.39%, roughly equal to the maximum VFEG.L drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for VEUA.L and VFEG.L.

Drawdown Indicators

	VEUA.L	VFEG.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.39%	-34.33%	+0.94%
Max Drawdown (1Y) Largest decline over 1 year	-10.58%	-8.99%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-12.63%	-22.33%	+9.70%
Max Drawdown (5Y) Largest decline over 5 years	-16.36%	-22.33%	+5.97%
Current Drawdown Current decline from peak	-0.30%	-2.46%	+2.16%
Average Drawdown Average peak-to-trough decline	-6.10%	-11.86%	+5.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.80%	+0.17%

Volatility

VEUA.L vs. VFEG.L - Volatility Comparison

The current volatility for Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L) is 3.55%, while Vanguard FTSE Emerging Markets UCITS ETF Acc (VFEG.L) has a volatility of 5.22%. This indicates that VEUA.L experiences smaller price fluctuations and is considered to be less risky than VFEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEUA.L	VFEG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	5.22%	-1.67%
Volatility (6M) Calculated over the trailing 6-month period	10.41%	11.46%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.29%	14.14%	-1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.85%	20.29%	-4.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	22.19%	-4.52%

VEUA.L vs. VFEG.L - Expense Ratio Comparison

VEUA.L has a 0.10% expense ratio, which is lower than VFEG.L's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VEUA.L vs. VFEG.L - Dividend Comparison

Neither VEUA.L nor VFEG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VEUA.L and VFEG.L in my portfolio?

VEUA.L and VFEG.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEUA.L or VFEG.L?

On fees, VEUA.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEUA.L or VFEG.L?

VEUA.L is cheaper with a 0.10% expense ratio, compared with 0.22% for VFEG.L.

What is the main difference between VEUA.L and VFEG.L?

VEUA.L is categorized as Europe Equities, while VFEG.L is Emerging Markets Equities. VEUA.L tracks MSCI Europe NR EUR, while VFEG.L tracks MSCI EM NR USD. Their fees differ too: 0.10% for VEUA.L and 0.22% for VFEG.L.