VEUR.AS vs. MEUG.L
VEUR.AS (Vanguard FTSE Developed Europe UCITS ETF) and MEUG.L (Lyxor UCITS MSCI Europe D-EUR) are both Europe Equities funds tracking the MSCI Europe NR EUR, from Vanguard and Amundi respectively. Both are passively managed. Over the past 10 years, VEUR.AS returned 9.23%/yr vs 8.97%/yr for MEUG.L. A 0.57 correlation means they provide meaningful diversification when combined. VEUR.AS charges 0.10%/yr vs 0.25%/yr for MEUG.L.
Performance
VEUR.AS vs. MEUG.L - Performance Comparison
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Different Trading Currencies
VEUR.AS is traded in EUR, while MEUG.L is traded in GBp. To make them comparable, the MEUG.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with VEUR.AS having a 7.16% return and MEUG.L slightly higher at 7.40%. Both investments have delivered pretty close results over the past 10 years, with VEUR.AS having a 9.23% annualized return and MEUG.L not far behind at 8.97%.
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%
MEUG.L
- 1D
- 0.40%
- 1M
- 3.28%
- YTD
- 7.40%
- 6M
- 9.86%
- 1Y
- 16.03%
- 3Y*
- 13.37%
- 5Y*
- 9.79%
- 10Y*
- 8.97%
VEUR.AS vs. MEUG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF | 7.16% | 19.69% | 10.27% | 16.15% | -10.11% | 25.55% | -2.72% | 25.95% | -10.04% | 10.80% |
MEUG.L Lyxor UCITS MSCI Europe D-EUR | 7.40% | 19.44% | 8.72% | 14.59% | -7.48% | 23.67% | -3.20% | 26.83% | -10.89% | 10.85% |
Correlation
The correlation between VEUR.AS and MEUG.L is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2015 | 0.57 |
Over the past year, VEUR.AS and MEUG.L have become more correlated (0.92) than their long-term average of 0.57, meaning their price movements have been converging.
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Return for Risk
VEUR.AS vs. MEUG.L — Risk / Return Rank
VEUR.AS
MEUG.L
VEUR.AS vs. MEUG.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 Lyxor UCITS MSCI Europe D-EUR (MEUG.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 | MEUG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.69 | -0.01 |
| Martin ratioReturn relative to average drawdown | 6.34 | 6.16 | +0.18 |
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 | MEUG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.30 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 1.03 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.78 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.59 | -0.07 |
Drawdowns
VEUR.AS vs. MEUG.L - Drawdown Comparison
The maximum VEUR.AS drawdown since its inception was -35.63%, roughly equal to the maximum MEUG.L drawdown of -36.09%. Use the drawdown chart below to compare losses from any high point for VEUR.AS and MEUG.L.
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Drawdown Indicators
| VEUR.AS | MEUG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.63% | -36.09% | +0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -9.47% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -16.41% | -15.70% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -20.19% | -17.14% | -3.05% |
Max Drawdown (10Y)Largest decline over 10 years | -35.63% | -36.09% | +0.46% |
Current DrawdownCurrent decline from peak | -1.62% | -0.62% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -5.29% | -5.41% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 2.60% | -0.05% |
Volatility
VEUR.AS vs. MEUG.L - Volatility Comparison
Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) has a higher volatility of 4.38% compared to Lyxor UCITS MSCI Europe D-EUR (MEUG.L) at 3.96%. This indicates that VEUR.AS's price experiences larger fluctuations and is considered to be riskier than MEUG.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 | MEUG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 3.96% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 10.62% | 10.01% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.81% | 12.25% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.22% | 19.26% | -5.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.51% | 20.33% | -4.82% |
VEUR.AS vs. MEUG.L - Expense Ratio Comparison
VEUR.AS has a 0.10% expense ratio, which is lower than MEUG.L's 0.25% 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. MEUG.L - Dividend Comparison
VEUR.AS's dividend yield for the trailing twelve months is around 2.60%, while MEUG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MEUG.L Lyxor UCITS MSCI Europe D-EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.70% | 3.42% | 3.73% | 3.07% | 3.39% | 3.60% |
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 0.92, VEUR.AS and MEUG.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 0.25% for MEUG.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 0.25% for MEUG.L.
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