VEUR.AS vs. CE2D.L
VEUR.AS (Vanguard FTSE Developed Europe UCITS ETF) and CE2D.L (Amundi Index MSCI Europe UCITS ETF DR EUR (D)) are both Europe Equities funds tracking the MSCI Europe NR EUR, from Vanguard and Amundi respectively. Both are passively managed. Over the past 5 years, VEUR.AS returned 9.93%/yr vs 9.93%/yr for CE2D.L. A 0.58 correlation means they provide meaningful diversification when combined. VEUR.AS charges 0.10%/yr vs 0.15%/yr for CE2D.L.
Performance
VEUR.AS vs. CE2D.L - Performance Comparison
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Different Trading Currencies
VEUR.AS is traded in EUR, while CE2D.L is traded in GBp. To make them comparable, the CE2D.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, VEUR.AS achieves a 7.16% return, which is significantly lower than CE2D.L's 7.71% return.
VEUR.AS
- 1D
- 0.57%
- 1M
- 3.20%
- YTD
- 7.16%
- 6M
- 9.88%
- 1Y
- 16.32%
- 3Y*
- 14.06%
- 5Y*
- 9.93%
- 10Y*
- 9.23%
CE2D.L
- 1D
- 0.55%
- 1M
- 3.53%
- YTD
- 7.71%
- 6M
- 9.83%
- 1Y
- 16.12%
- 3Y*
- 14.09%
- 5Y*
- 9.93%
- 10Y*
- —
VEUR.AS vs. CE2D.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 7.16% | 19.69% | 10.27% | 16.15% | -10.11% | 20.62% |
CE2D.L Amundi Index MSCI Europe UCITS ETF DR EUR (D) | 7.71% | 19.22% | 8.76% | 15.11% | -8.33% | 21.05% |
Correlation
The correlation between VEUR.AS and CE2D.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2021 | 0.58 |
Over the past year, VEUR.AS and CE2D.L have become more correlated (0.93) than their long-term average of 0.58, meaning their price movements have been converging.
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Return for Risk
VEUR.AS vs. CE2D.L — Risk / Return Rank
VEUR.AS
CE2D.L
VEUR.AS vs. CE2D.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) and Amundi Index MSCI Europe UCITS ETF DR EUR (D) (CE2D.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.
| VEUR.AS | CE2D.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.70 | -0.02 |
| Martin ratioReturn relative to average drawdown | 6.34 | 6.21 | +0.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEUR.AS | CE2D.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.29 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.90 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 1.09 | -0.56 |
Drawdowns
VEUR.AS vs. CE2D.L - Drawdown Comparison
The maximum VEUR.AS drawdown since its inception was -35.63%, which is greater than CE2D.L's maximum drawdown of -18.34%. Use the drawdown chart below to compare losses from any high point for VEUR.AS and CE2D.L.
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Drawdown Indicators
| VEUR.AS | CE2D.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.63% | -18.34% | -17.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -9.48% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -16.41% | -15.88% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -20.19% | -18.34% | -1.85% |
Max Drawdown (10Y)Largest decline over 10 years | -35.63% | — | — |
Current DrawdownCurrent decline from peak | -1.62% | -0.54% | -1.08% |
Average DrawdownAverage peak-to-trough decline | -5.29% | -2.74% | -2.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 2.60% | -0.05% |
Volatility
VEUR.AS vs. CE2D.L - Volatility Comparison
Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) has a higher volatility of 4.38% compared to Amundi Index MSCI Europe UCITS ETF DR EUR (D) (CE2D.L) at 4.12%. This indicates that VEUR.AS's price experiences larger fluctuations and is considered to be riskier than CE2D.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEUR.AS | CE2D.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 4.12% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 10.62% | 10.21% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.81% | 12.52% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.22% | 18.27% | -4.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.51% | 18.44% | -2.93% |
VEUR.AS vs. CE2D.L - Expense Ratio Comparison
VEUR.AS has a 0.10% expense ratio, which is lower than CE2D.L's 0.15% 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
VEUR.AS vs. CE2D.L - Dividend Comparison
VEUR.AS's dividend yield for the trailing twelve months is around 2.60%, more than CE2D.L's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CE2D.L Amundi Index MSCI Europe UCITS ETF DR EUR (D) | 2.36% | 2.52% | 2.79% | 2.74% | 3.00% | 2.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 2.60% | 2.79% | 3.04% | 3.00% | 3.32% | 2.66% | 2.24% | 3.24% | 3.62% | 3.05% | 3.19% | 3.10% |
Frequently Asked Questions
With a correlation of 0.93, VEUR.AS and CE2D.L 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.
On fees, VEUR.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEUR.AS is cheaper with a 0.10% expense ratio, compared with 0.15% for CE2D.L.
Both ETFs track MSCI Europe NR EUR. They also come from different issuers: Vanguard and Amundi. Their fees differ too: 0.10% for VEUR.AS and 0.15% for CE2D.L.
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