VEUAX vs. VEUSX
VEUAX (JPMorgan Europe Dynamic Fund) and VEUSX (Vanguard European Stock Index Fund Admiral Shares) are both Europe Equities funds. Over the past 10 years, VEUAX returned 10.28%/yr vs 10.41%/yr for VEUSX. Their correlation of 0.94 suggests significant overlap in exposure. VEUAX charges 1.25%/yr vs 0.10%/yr for VEUSX.
Performance
VEUAX vs. VEUSX - Performance Comparison
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Returns By Period
In the year-to-date period, VEUAX achieves a 7.20% return, which is significantly lower than VEUSX's 7.56% return. Both investments have delivered pretty close results over the past 10 years, with VEUAX having a 10.28% annualized return and VEUSX not far ahead at 10.41%.
VEUAX
- 1D
- 0.39%
- 1M
- 2.15%
- YTD
- 7.20%
- 6M
- 6.83%
- 1Y
- 19.87%
- 3Y*
- 19.28%
- 5Y*
- 10.03%
- 10Y*
- 10.28%
VEUSX
- 1D
- 0.11%
- 1M
- 1.04%
- YTD
- 7.56%
- 6M
- 7.40%
- 1Y
- 20.61%
- 3Y*
- 17.17%
- 5Y*
- 9.07%
- 10Y*
- 10.41%
VEUAX vs. VEUSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEUAX JPMorgan Europe Dynamic Fund | 7.20% | 41.51% | 3.48% | 18.19% | -15.39% | 17.68% | 8.45% | 21.51% | -18.69% | 22.26% |
VEUSX Vanguard European Stock Index Fund Admiral Shares | 7.56% | 35.41% | 2.01% | 19.99% | -16.06% | 16.28% | 6.43% | 24.22% | -14.81% | 27.04% |
Correlation
The correlation between VEUAX and VEUSX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Aug 13, 2001 | 0.94 |
The correlation between VEUAX and VEUSX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
VEUAX vs. VEUSX — Risk / Return Rank
VEUAX
VEUSX
VEUAX vs. VEUSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Europe Dynamic Fund (VEUAX) and Vanguard European Stock Index Fund Admiral Shares (VEUSX). 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.
| VEUAX | VEUSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 1.81 | -0.08 |
| Martin ratioReturn relative to average drawdown | 5.99 | 6.67 | -0.69 |
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Drawdowns
VEUAX vs. VEUSX - Drawdown Comparison
The maximum VEUAX drawdown since its inception was -63.73%, roughly equal to the maximum VEUSX drawdown of -63.28%. Use the drawdown chart below to compare losses from any high point for VEUAX and VEUSX.
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Drawdown Indicators
| VEUAX | VEUSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.73% | -63.28% | -0.45% |
Max Drawdown (1Y)Largest decline over 1 year | -12.07% | -11.97% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -12.89% | -13.96% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -30.94% | -32.72% | +1.78% |
Max Drawdown (10Y)Largest decline over 10 years | -44.64% | -36.87% | -7.77% |
Current DrawdownCurrent decline from peak | -1.50% | -0.70% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -15.42% | -12.93% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 3.24% | +0.24% |
Volatility
VEUAX vs. VEUSX - Volatility Comparison
JPMorgan Europe Dynamic Fund (VEUAX) and Vanguard European Stock Index Fund Admiral Shares (VEUSX) have volatilities of 4.52% and 4.66%, 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.
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Volatility by Period
| VEUAX | VEUSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 4.66% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 13.57% | 13.07% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.05% | 15.59% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.62% | 17.45% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.75% | 18.18% | +0.57% |
VEUAX vs. VEUSX - Expense Ratio Comparison
VEUAX has a 1.25% expense ratio, which is higher than VEUSX's 0.10% expense ratio.
Dividends
VEUAX vs. VEUSX - Dividend Comparison
VEUAX's dividend yield for the trailing twelve months is around 3.21%, more than VEUSX's 2.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEUAX JPMorgan Europe Dynamic Fund | 3.21% | 3.45% | 3.81% | 3.02% | 0.77% | 2.03% | 1.01% | 2.82% | 2.60% | 1.38% | 1.93% | 1.25% |
VEUSX Vanguard European Stock Index Fund Admiral Shares | 2.89% | 2.84% | 3.58% | 3.13% | 3.22% | 3.02% | 2.08% | 3.26% | 3.92% | 2.70% | 3.52% | 3.24% |
Frequently Asked Questions
With a correlation of 0.97, VEUAX and VEUSX 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.
VEUSX has higher volatility (4.66%) compared to VEUAX (4.52%). In terms of maximum drawdown, VEUAX dropped -63.73% vs VEUSX's -63.28%.
VEUSX currently has the higher Sharpe Ratio (1.39 vs 1.30), 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.
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