VEUR.MI vs. DBEU

Last updated Aug 1, 2026

VEUR.MI (Vanguard FTSE Developed Europe UCITS ETF) and DBEU (Xtrackers MSCI Europe Hedged Equity Fund) are both Europe Equities funds - VEUR.MI tracks the FTSE Developed Europe Index while DBEU tracks the MSCI Europe US Dollar Hedged Index. Both are passively managed. Over the past 5 years, VEUR.MI returned 10.37%/yr vs 12.53%/yr for DBEU. Their 0.61 correlation means they have sometimes moved together and sometimes differently. VEUR.MI charges 0.10%/yr vs 0.45%/yr for DBEU.

Performance

VEUR.MI vs. DBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI) and Xtrackers MSCI Europe Hedged Equity Fund (DBEU). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VEUR.MI is traded in EUR, while DBEU is traded in USD. To make them comparable, the DBEU values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, VEUR.MI achieves a 11.89% return, which is significantly lower than DBEU's 15.18% return.

VEUR.MI

• 1D: 0.00%
• 1M: -0.44%
• 6M: 8.63%
• YTD: 11.89%
• 1Y: 25.31%
• 3Y*: 15.03%
• 5Y*: 10.37%
• 10Y*: —
• ALL TIME*: 11.35%

DBEU

• 1D: -0.54%
• 1M: -0.69%
• 6M: 10.60%
• YTD: 15.18%
• 1Y: 26.61%
• 3Y*: 14.24%
• 5Y*: 12.53%
• 10Y*: 11.15%
• ALL TIME*: 11.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DBEU Xtrackers MSCI Europe Hedged Equity Fund	€1.04M	€1.13M	€1.88M
VEUR.MI Vanguard FTSE Developed Europe UCITS ETF	€571.17K	€593.90K	€474.65K

VEUR.MI vs. DBEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VEUR.MI Vanguard FTSE Developed Europe UCITS ETF	11.89%	20.77%	9.08%	16.29%	-10.23%	25.16%	-2.48%	19.57%
DBEU Xtrackers MSCI Europe Hedged Equity Fund	15.18%	7.68%	16.38%	13.91%	-0.44%	33.27%	-9.55%	22.15%

Correlation

The correlation between VEUR.MI and DBEU is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.57
Correlation (All Time) Calculated using the full available price history since Jan 21, 2019	0.61

The correlation between VEUR.MI and DBEU has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.

Return for Risk

VEUR.MI vs. DBEU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VEUR.MI

VEUR.MI Risk / Return Rank: 73
VEUR.MI Sharpe Ratio Rank: 75
VEUR.MI Sortino Ratio Rank: 74
VEUR.MI Omega Ratio Rank: 77
VEUR.MI Calmar Ratio Rank: 67
VEUR.MI Martin Ratio Rank: 73

DBEU

DBEU Risk / Return Rank: 78
DBEU Sharpe Ratio Rank: 80
DBEU Sortino Ratio Rank: 80
DBEU Omega Ratio Rank: 78
DBEU Calmar Ratio Rank: 71
DBEU Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VEUR.MI vs. DBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI) and Xtrackers MSCI Europe Hedged Equity Fund (DBEU). 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.

	VEUR.MI	DBEU	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.68	+0.04
Sortino ratio: Return per unit of downside risk	2.41	2.28	+0.13
Omega ratio: Gain probability vs. loss probability	1.32	1.30	+0.02
Calmar ratio: Return relative to maximum drawdown	2.36	2.86	-0.50
Martin ratio: Return relative to average drawdown	9.00	11.27	-2.28

VEUR.MI vs. DBEU - Sharpe Ratio Comparison

The current VEUR.MI Sharpe Ratio is 1.73, which is comparable to the DBEU Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of VEUR.MI and DBEU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VEUR.MI vs. DBEU - Drawdown Comparison

The maximum VEUR.MI drawdown since its inception was -35.22%, roughly equal to the maximum DBEU drawdown of -36.66%. Use the drawdown chart below to compare losses from any high point for VEUR.MI and DBEU.

Drawdown Indicators

	VEUR.MI	DBEU	Difference
Max Drawdown Largest peak-to-trough decline	-35.22%	-36.66%	+1.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.58%	-8.03%	-1.55%
Max Drawdown (3Y) Largest decline over 3 years	-16.36%	-19.49%	+3.13%
Max Drawdown (5Y) Largest decline over 5 years	-20.33%	-19.49%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.66%	—
Current Drawdown Current decline from peak	-0.44%	-1.24%	+0.80%
Average Drawdown Average peak-to-trough decline	-4.66%	-5.87%	+1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.06%	+0.45%

Volatility

VEUR.MI vs. DBEU - Volatility Comparison

The current volatility for Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI) is 3.22%, while Xtrackers MSCI Europe Hedged Equity Fund (DBEU) has a volatility of 3.57%. This indicates that VEUR.MI experiences smaller price fluctuations and is considered to be less risky than DBEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEUR.MI	DBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	3.57%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	10.36%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	13.69%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.46%	14.96%	-0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.35%	17.59%	-1.24%

VEUR.MI vs. DBEU - Expense Ratio Comparison

VEUR.MI has a 0.10% expense ratio, which is lower than DBEU's 0.45% expense ratio.

Dividends

VEUR.MI vs. DBEU - Dividend Comparison

VEUR.MI's dividend yield for the trailing twelve months is around 2.57%, more than DBEU's 1.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEU Xtrackers MSCI Europe Hedged Equity Fund	1.40%	4.55%	0.07%	3.64%	1.96%	1.87%	2.44%	2.77%	3.55%	2.28%	9.92%	5.50%
VEUR.MI Vanguard FTSE Developed Europe UCITS ETF	2.57%	2.79%	3.07%	3.00%	3.32%	2.66%	2.23%	3.24%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VEUR.MI and DBEU in my portfolio?

VEUR.MI and DBEU have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEUR.MI or DBEU?

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

Which ETF is cheaper, VEUR.MI or DBEU?

VEUR.MI is cheaper with a 0.10% expense ratio, compared with 0.45% for DBEU.

What is the main difference between VEUR.MI and DBEU?

VEUR.MI tracks FTSE Developed Europe Index, while DBEU tracks MSCI Europe US Dollar Hedged Index. They also come from different issuers: Vanguard and DWS. Their fees differ too: 0.10% for VEUR.MI and 0.45% for DBEU.