VEUA.L vs. VGEA.DE
VEUA.L (Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both exchange-traded funds - VEUA.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while VGEA.DE is a European Government Bonds fund tracking the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, VEUA.L returned 10.11%/yr vs -2.18%/yr for VGEA.DE. At a 0.15 correlation, their price movements are largely independent. VEUA.L charges 0.10%/yr vs 0.07%/yr for VGEA.DE.
Performance
VEUA.L vs. VGEA.DE - Performance Comparison
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Different Trading Currencies
VEUA.L is traded in GBP, while VGEA.DE is traded in EUR. To make them comparable, the VGEA.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VEUA.L achieves a 7.77% return, which is significantly higher than VGEA.DE's -0.74% return.
VEUA.L
- 1D
- 1.65%
- 1M
- 3.69%
- YTD
- 7.77%
- 6M
- 9.55%
- 1Y
- 19.76%
- 3Y*
- 14.57%
- 5Y*
- 10.11%
- 10Y*
- —
VGEA.DE
- 1D
- 0.31%
- 1M
- 0.54%
- YTD
- -0.74%
- 6M
- -1.10%
- 1Y
- 1.38%
- 3Y*
- 2.75%
- 5Y*
- -2.18%
- 10Y*
- —
VEUA.L vs. VGEA.DE - 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% | -9.21% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | -0.74% | 5.91% | -2.89% | 4.80% | -13.82% | -10.13% | 10.71% | -4.96% |
Correlation
The correlation between VEUA.L and VGEA.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2019 | 0.15 |
Over the past year, VEUA.L and VGEA.DE have become more correlated (0.35) than their long-term average of 0.15, meaning their price movements have been converging.
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Return for Risk
VEUA.L vs. VGEA.DE — Risk / Return Rank
VEUA.L
VGEA.DE
VEUA.L vs. VGEA.DE - 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 EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE). 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 | VGEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.04 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 0.31 | +1.55 |
| Martin ratioReturn relative to average drawdown | 6.63 | 0.66 | +5.96 |
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Drawdowns
VEUA.L vs. VGEA.DE - Drawdown Comparison
The maximum VEUA.L drawdown since its inception was -33.39%, which is greater than VGEA.DE's maximum drawdown of -26.58%. Use the drawdown chart below to compare losses from any high point for VEUA.L and VGEA.DE.
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Drawdown Indicators
| VEUA.L | VGEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.39% | -26.58% | -6.81% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -4.51% | -6.07% |
Max Drawdown (3Y)Largest decline over 3 years | -12.63% | -6.18% | -6.45% |
Max Drawdown (5Y)Largest decline over 5 years | -16.36% | -20.82% | +4.46% |
Current DrawdownCurrent decline from peak | -0.30% | -18.67% | +18.37% |
Average DrawdownAverage peak-to-trough decline | -6.10% | -15.01% | +8.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 2.08% | +0.89% |
Volatility
VEUA.L vs. VGEA.DE - Volatility Comparison
Vanguard FTSE Developed Europe UCITS ETF (EUR) Accumulating (VEUA.L) has a higher volatility of 3.55% compared to Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) at 1.59%. This indicates that VEUA.L's price experiences larger fluctuations and is considered to be riskier than VGEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEUA.L | VGEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.55% | 1.59% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 10.41% | 4.37% | +6.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.29% | 5.64% | +6.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 7.51% | +8.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 7.85% | +9.82% |
VEUA.L vs. VGEA.DE - Expense Ratio Comparison
VEUA.L has a 0.10% expense ratio, which is higher than VGEA.DE's 0.07% 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
VEUA.L vs. VGEA.DE - Dividend Comparison
Neither VEUA.L nor VGEA.DE has paid dividends to shareholders.
Frequently Asked Questions
VEUA.L and VGEA.DE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.10% for VEUA.L.
VEUA.L is categorized as Europe Equities, while VGEA.DE is European Government Bonds. VEUA.L tracks MSCI Europe NR EUR, while VGEA.DE tracks Bloomberg Euro Aggregate Treasury. Their fees differ too: 0.10% for VEUA.L and 0.07% for VGEA.DE.
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