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VEUR.L vs. RFEU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEUR.L vs. RFEU

Last updated Jun 5, 2026

VEUR.L (Vanguard FTSE Developed Europe UCITS ETF Distributing) and RFEU (First Trust RiverFront Dynamic Europe ETF) are both Europe Equities funds. VEUR.L is passively managed, while RFEU is actively managed. Over the past 10 years, VEUR.L returned 10.28%/yr vs 8.03%/yr for RFEU. A 0.65 correlation means they provide meaningful diversification when combined. VEUR.L charges 0.10%/yr vs 0.83%/yr for RFEU.

Performance

VEUR.L vs. RFEU - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Developed Europe UCITS ETF Distributing (VEUR.L) and First Trust RiverFront Dynamic Europe ETF (RFEU). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VEUR.L is traded in GBP, while RFEU is traded in USD. To make them comparable, the RFEU values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VEUR.L achieves a 6.65% return, which is significantly higher than RFEU's 1.91% return. Over the past 10 years, VEUR.L has outperformed RFEU with an annualized return of 10.28%, while RFEU has yielded a comparatively lower 8.03% annualized return.

VEUR.L

1D
0.73%
1M
3.41%
YTD
6.65%
6M
9.00%
1Y
19.50%
3Y*
14.20%
5Y*
10.10%
10Y*
10.28%

RFEU

1D
0.00%
1M
1.29%
YTD
1.91%
6M
3.44%
1Y
14.49%
3Y*
9.63%
5Y*
4.86%
10Y*
8.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEUR.L vs. RFEU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEUR.L
Vanguard FTSE Developed Europe UCITS ETF Distributing		6.65%26.00%4.43%13.51%-4.33%16.97%2.77%19.67%-9.54%15.39%
RFEU
First Trust RiverFront Dynamic Europe ETF		1.91%21.46%-0.06%10.38%-15.15%23.99%3.13%18.53%-12.68%15.64%

Correlation

The correlation between VEUR.L and RFEU 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

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.58

Correlation (10Y)
Calculated over the trailing 10-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Apr 15, 2016

0.65

Over the past year, the correlation between VEUR.L and RFEU has dropped to 0.35 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

VEUR.L vs. RFEU - Sectors Allocation Comparison

Sectors
VEUR.L
RFEU

Financial Services

24.0%
18.9%

Industrials

19.7%
15.4%

Healthcare

12.9%
13.3%

Technology

8.5%
12.5%

Consumer Defensive

8.3%
9.3%

Consumer Cyclical

6.6%
10.6%

Basic Materials

5.6%
1.2%

Energy

5.3%
8.7%

Utilities

5.0%
6.4%

Communication Services

3.0%
3.8%

Real Estate

1.1%

-

Financial Services

VEUR.L
24.0%
RFEU
18.9%

Industrials

VEUR.L
19.7%
RFEU
15.4%

Healthcare

VEUR.L
12.9%
RFEU
13.3%

Technology

VEUR.L
8.5%
RFEU
12.5%

Consumer Defensive

VEUR.L
8.3%
RFEU
9.3%

Consumer Cyclical

VEUR.L
6.6%
RFEU
10.6%

Basic Materials

VEUR.L
5.6%
RFEU
1.2%

Energy

VEUR.L
5.3%
RFEU
8.7%

Utilities

VEUR.L
5.0%
RFEU
6.4%

Communication Services

VEUR.L
3.0%
RFEU
3.8%

Real Estate

VEUR.L
1.1%
RFEU

-

Compare stocks, funds, or ETFs

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Vanguard FTSE Developed Europe UCITS ETF Distributing

First Trust RiverFront Dynamic Europe ETF

Often compared with VEUR.L:
VEUR.L vs. VEAVEUR.L vs. EXSA.DEVEUR.L vs. VERX.DEVEUR.L vs. VUSA.LVEUR.L vs. IMEU.LVEUR.L vs. NASL.LVEUR.L vs. ISEU.L
Often compared with RFEU:
RFEU vs. FDDRFEU vs. SPMORFEU vs. ONEQRFEU vs. HEDJRFEU vs. VTAPXRFEU vs. IEVRFEU vs. EZU

Return for Risk

VEUR.L vs. RFEU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEUR.L
VEUR.L Risk / Return Rank: 4545
Overall Rank
VEUR.L Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
VEUR.L Sortino Ratio Rank: 4747
Sortino Ratio Rank
VEUR.L Omega Ratio Rank: 5050
Omega Ratio Rank
VEUR.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
VEUR.L Martin Ratio Rank: 4242
Martin Ratio Rank
RFEU
RFEU Risk / Return Rank: 5656
Overall Rank
RFEU Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
RFEU Sortino Ratio Rank: 5151
Sortino Ratio Rank
RFEU Omega Ratio Rank: 6262
Omega Ratio Rank
RFEU Calmar Ratio Rank: 5858
Calmar Ratio Rank
RFEU Martin Ratio Rank: 5959
Martin Ratio Rank
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.

VEUR.L vs. RFEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF Distributing (VEUR.L) and First Trust RiverFront Dynamic Europe ETF (RFEU). 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.LRFEUDifference
Sharpe ratioReturn per unit of total volatility
1.62
1.92

-0.30

Sortino ratioReturn per unit of downside risk
2.29
2.76

-0.47

Omega ratioGain probability vs. loss probability

1.31

1.35

-0.05

Calmar ratioReturn relative to maximum drawdown

1.83

3.61

-1.77

Martin ratioReturn relative to average drawdown

6.55

10.13

-3.58

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEUR.L vs. RFEU - Sharpe Ratio Comparison

The current VEUR.L Sharpe Ratio is 1.62, which is comparable to the RFEU Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of VEUR.L and RFEU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VEUR.LRFEUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.62

1.92

-0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.35

+0.38

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.50

+0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.49

+0.15

Drawdowns

VEUR.L vs. RFEU - Drawdown Comparison

The maximum VEUR.L drawdown since its inception was -28.59%, roughly equal to the maximum RFEU drawdown of -29.68%. Use the drawdown chart below to compare losses from any high point for VEUR.L and RFEU.

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Drawdown Indicators

VEUR.LRFEUDifference

Max Drawdown

Largest peak-to-trough decline

-28.59%

-29.68%

+1.09%

Max Drawdown (1Y)

Largest decline over 1 year

-10.59%

-4.39%

-6.20%

Max Drawdown (3Y)

Largest decline over 3 years

-12.72%

-11.95%

-0.77%

Max Drawdown (5Y)

Largest decline over 5 years

-16.38%

-21.11%

+4.73%

Max Drawdown (10Y)

Largest decline over 10 years

-28.59%

-29.68%

+1.09%

Current Drawdown

Current decline from peak

-1.39%

-1.75%

+0.36%

Average Drawdown

Average peak-to-trough decline

-4.11%

-5.68%

+1.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.97%

1.50%

+1.47%

Volatility

VEUR.L vs. RFEU - Volatility Comparison

Vanguard FTSE Developed Europe UCITS ETF Distributing (VEUR.L) has a higher volatility of 3.94% compared to First Trust RiverFront Dynamic Europe ETF (RFEU) at 1.76%. This indicates that VEUR.L's price experiences larger fluctuations and is considered to be riskier than RFEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEUR.LRFEUDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.94%

1.76%

+2.18%

Volatility (6M)

Calculated over the trailing 6-month period

10.05%

5.66%

+4.39%

Volatility (1Y)

Calculated over the trailing 1-year period

11.99%

8.25%

+3.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.77%

14.12%

-0.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.92%

16.21%

-1.29%

VEUR.L vs. RFEU - Expense Ratio Comparison

VEUR.L has a 0.10% expense ratio, which is lower than RFEU's 0.83% expense ratio.

Dividends

VEUR.L vs. RFEU - Dividend Comparison

VEUR.L's dividend yield for the trailing twelve months is around 2.59%, less than RFEU's 2.83% yield.

PositionTTM20252024202320222021202020192018201720162015
RFEU
First Trust RiverFront Dynamic Europe ETF		2.83%2.87%5.45%3.37%4.98%1.82%2.32%3.08%2.84%1.35%3.16%0.00%
VEUR.L
Vanguard FTSE Developed Europe UCITS ETF Distributing		2.59%2.75%3.10%2.96%3.19%2.71%2.28%3.35%3.53%3.05%3.04%3.06%

Frequently Asked Questions

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

VEUR.L is cheaper with a 0.10% expense ratio, compared with 0.83% for RFEU.

They also come from different issuers: Vanguard and First Trust. Their fees differ too: 0.10% for VEUR.L and 0.83% for RFEU.

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