VEUR.MI vs. VUSA.MI

Last updated Jun 5, 2026

VEUR.MI (Vanguard FTSE Developed Europe UCITS ETF) and VUSA.MI (Vanguard S&P 500 UCITS ETF) are both exchange-traded funds - VEUR.MI is a Europe Equities fund tracking the FTSE Developed Europe Index, while VUSA.MI is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, VEUR.MI returned 9.89%/yr vs 14.76%/yr for VUSA.MI. A 0.68 correlation means they provide meaningful diversification when combined. VEUR.MI charges 0.10%/yr vs 0.07%/yr for VUSA.MI.

Performance

VEUR.MI vs. VUSA.MI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI) and Vanguard S&P 500 UCITS ETF (VUSA.MI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEUR.MI achieves a 7.10% return, which is significantly lower than VUSA.MI's 11.33% return.

VEUR.MI

• 1D: 0.40%
• 1M: 3.04%
• YTD: 7.10%
• 6M: 9.73%
• 1Y: 16.16%
• 3Y*: 14.02%
• 5Y*: 9.89%
• 10Y*: —

VUSA.MI

• 1D: -0.12%
• 1M: 5.18%
• YTD: 11.33%
• 6M: 11.48%
• 1Y: 25.64%
• 3Y*: 18.89%
• 5Y*: 14.76%
• 10Y*: —

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

VEUR.MI vs. VUSA.MI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VEUR.MI Vanguard FTSE Developed Europe UCITS ETF	7.10%	20.77%	9.08%	16.29%	-10.22%	25.16%	-2.48%	19.93%
VUSA.MI Vanguard S&P 500 UCITS ETF	11.33%	4.38%	33.56%	22.33%	-14.74%	40.98%	7.47%	24.77%

Correlation

The correlation between VEUR.MI and VUSA.MI is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jan 22, 2019	0.68

The correlation between VEUR.MI and VUSA.MI shifts across timeframes, from 0.55 (3 years) to 0.68 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VEUR.MI vs. VUSA.MI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VEUR.MI

VEUR.MI Risk / Return Rank: 36
VEUR.MI Sharpe Ratio Rank: 36
VEUR.MI Sortino Ratio Rank: 35
VEUR.MI Omega Ratio Rank: 37
VEUR.MI Calmar Ratio Rank: 35
VEUR.MI Martin Ratio Rank: 40

VUSA.MI

VUSA.MI Risk / Return Rank: 70
VUSA.MI Sharpe Ratio Rank: 70
VUSA.MI Sortino Ratio Rank: 68
VUSA.MI Omega Ratio Rank: 71
VUSA.MI Calmar Ratio Rank: 73
VUSA.MI Martin Ratio Rank: 70

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.MI vs. VUSA.MI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI) and Vanguard S&P 500 UCITS ETF (VUSA.MI). 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.MI	VUSA.MI	Difference
Sharpe ratio: Return per unit of total volatility	1.26	2.25	-0.98
Sortino ratio: Return per unit of downside risk	1.83	3.05	-1.22
Omega ratio: Gain probability vs. loss probability	1.24	1.42	-0.18
Calmar ratio: Return relative to maximum drawdown	1.69	3.59	-1.90
Martin ratio: Return relative to average drawdown	6.24	12.69	-6.45
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.MI vs. VUSA.MI - Sharpe Ratio Comparison

The current VEUR.MI Sharpe Ratio is 1.26, which is lower than the VUSA.MI Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of VEUR.MI and VUSA.MI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VEUR.MI	VUSA.MI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	2.25	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.96	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.96	-0.28

Drawdowns

VEUR.MI vs. VUSA.MI - Drawdown Comparison

The maximum VEUR.MI drawdown since its inception was -35.22%, roughly equal to the maximum VUSA.MI drawdown of -33.68%. Use the drawdown chart below to compare losses from any high point for VEUR.MI and VUSA.MI.

Drawdown Indicators

	VEUR.MI	VUSA.MI	Difference
Max Drawdown Largest peak-to-trough decline	-35.22%	-33.68%	-1.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.58%	-7.15%	-2.43%
Max Drawdown (3Y) Largest decline over 3 years	-16.36%	-23.11%	+6.75%
Max Drawdown (5Y) Largest decline over 5 years	-20.32%	-23.11%	+2.79%
Current Drawdown Current decline from peak	-1.73%	-0.43%	-1.30%
Average Drawdown Average peak-to-trough decline	-4.80%	-4.52%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.02%	+0.57%

Volatility

VEUR.MI vs. VUSA.MI - Volatility Comparison

Vanguard FTSE Developed Europe UCITS ETF (VEUR.MI) has a higher volatility of 4.40% compared to Vanguard S&P 500 UCITS ETF (VUSA.MI) at 2.64%. This indicates that VEUR.MI's price experiences larger fluctuations and is considered to be riskier than VUSA.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEUR.MI	VUSA.MI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	2.64%	+1.76%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	7.48%	+3.08%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	11.41%	+1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.37%	15.18%	-0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.46%	16.93%	-0.47%

VEUR.MI vs. VUSA.MI - Expense Ratio Comparison

VEUR.MI has a 0.10% expense ratio, which is higher than VUSA.MI's 0.07% expense ratio. However, 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.MI vs. VUSA.MI - Dividend Comparison

VEUR.MI's dividend yield for the trailing twelve months is around 2.61%, more than VUSA.MI's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
VEUR.MI Vanguard FTSE Developed Europe UCITS ETF	2.61%	2.79%	3.07%	3.00%	3.32%	2.66%	2.23%	3.24%
VUSA.MI Vanguard S&P 500 UCITS ETF	0.87%	0.97%	0.99%	1.26%	1.45%	1.02%	1.43%	1.46%

Frequently Asked Questions

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

VEUR.MI and VUSA.MI have a correlation of 0.59, 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 VUSA.MI?

On fees, VUSA.MI is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEUR.MI or VUSA.MI?

VUSA.MI is cheaper with a 0.07% expense ratio, compared with 0.10% for VEUR.MI.

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

VEUR.MI is categorized as Europe Equities, while VUSA.MI is S&P 500. VEUR.MI tracks FTSE Developed Europe Index, while VUSA.MI tracks S&P 500 Index. Their fees differ too: 0.10% for VEUR.MI and 0.07% for VUSA.MI.