VEURX vs. DEM.L

Last updated Jun 13, 2026

VEURX (Vanguard European Stock Index Fund) and DEM.L (WisdomTree Emerging Markets Equity Income UCITS ETF) are both funds - VEURX is a Europe Equities fund managed by Vanguard, while DEM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Over the past 10 years, VEURX returned 9.81%/yr vs 10.53%/yr for DEM.L. A 0.64 correlation means they provide meaningful diversification when combined. VEURX charges 0.25%/yr vs 0.46%/yr for DEM.L.

Performance

VEURX vs. DEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard European Stock Index Fund (VEURX) and WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VEURX is traded in USD, while DEM.L is traded in GBp. To make them comparable, the DEM.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VEURX achieves a 7.18% return, which is significantly lower than DEM.L's 18.98% return. Over the past 10 years, VEURX has underperformed DEM.L with an annualized return of 9.81%, while DEM.L has yielded a comparatively higher 10.53% annualized return.

VEURX

• 1D: 2.88%
• 1M: 3.81%
• YTD: 7.18%
• 6M: 9.34%
• 1Y: 19.02%
• 3Y*: 16.61%
• 5Y*: 8.26%
• 10Y*: 9.81%

DEM.L

• 1D: 1.76%
• 1M: 5.67%
• YTD: 18.98%
• 6M: 20.57%
• 1Y: 27.87%
• 3Y*: 17.77%
• 5Y*: 9.90%
• 10Y*: 10.53%

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

VEURX vs. DEM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEURX Vanguard European Stock Index Fund	7.18%	35.20%	1.88%	19.83%	-16.16%	16.14%	6.29%	24.02%	-14.88%	26.81%
DEM.L WisdomTree Emerging Markets Equity Income UCITS ETF	18.98%	21.21%	5.07%	20.84%	-13.01%	14.12%	-6.70%	19.36%	-7.75%	26.07%

Correlation

The correlation between VEURX and DEM.L 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	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 14, 2014	0.64

The correlation between VEURX and DEM.L has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Return for Risk

VEURX vs. DEM.L — Risk / Return Rank

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

VEURX

VEURX Risk / Return Rank: 27
VEURX Sharpe Ratio Rank: 26
VEURX Sortino Ratio Rank: 27
VEURX Omega Ratio Rank: 25
VEURX Calmar Ratio Rank: 26
VEURX Martin Ratio Rank: 29

DEM.L

DEM.L Risk / Return Rank: 79
DEM.L Sharpe Ratio Rank: 76
DEM.L Sortino Ratio Rank: 77
DEM.L Omega Ratio Rank: 73
DEM.L Calmar Ratio Rank: 87
DEM.L Martin Ratio Rank: 83

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.

VEURX vs. DEM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard European Stock Index Fund (VEURX) and WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.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.

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.

	VEURX	DEM.L	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.81	-0.64
Sortino ratio: Return per unit of downside risk	1.71	2.53	-0.81
Omega ratio: Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio: Return relative to maximum drawdown	1.53	3.44	-1.91
Martin ratio: Return relative to average drawdown	5.58	10.88	-5.31

VEURX vs. DEM.L - Sharpe Ratio Comparison

The current VEURX Sharpe Ratio is 1.16, which is lower than the DEM.L Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of VEURX and DEM.L, 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

VEURX vs. DEM.L - Drawdown Comparison

The maximum VEURX drawdown since its inception was -63.33%, which is greater than DEM.L's maximum drawdown of -59.39%. Use the drawdown chart below to compare losses from any high point for VEURX and DEM.L.

Drawdown Indicators

	VEURX	DEM.L	Difference
Max Drawdown Largest peak-to-trough decline	-63.33%	-59.39%	-3.94%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	-7.73%	-4.24%
Max Drawdown (3Y) Largest decline over 3 years	-13.97%	-14.39%	+0.42%
Max Drawdown (5Y) Largest decline over 5 years	-32.81%	-27.85%	-4.96%
Max Drawdown (10Y) Largest decline over 10 years	-37.03%	-38.29%	+1.26%
Current Drawdown Current decline from peak	-1.05%	-1.02%	-0.03%
Average Drawdown Average peak-to-trough decline	-12.66%	-25.04%	+12.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	2.44%	+0.83%

Volatility

VEURX vs. DEM.L - Volatility Comparison

Vanguard European Stock Index Fund (VEURX) and WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.L) have volatilities of 5.60% and 5.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEURX	DEM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.60%	5.73%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	13.14%	11.56%	+1.58%
Volatility (1Y) Calculated over the trailing 1-year period	15.70%	14.71%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.47%	15.31%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	16.99%	+1.24%

VEURX vs. DEM.L - Expense Ratio Comparison

VEURX has a 0.25% expense ratio, which is lower than DEM.L's 0.46% expense ratio.

Dividends

VEURX vs. DEM.L - Dividend Comparison

VEURX's dividend yield for the trailing twelve months is around 2.62%, less than DEM.L's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM.L WisdomTree Emerging Markets Equity Income UCITS ETF	3.72%	4.47%	7.67%	7.00%	7.05%	4.14%	4.77%	4.33%	4.19%	3.15%	1.49%	4.55%
VEURX Vanguard European Stock Index Fund	2.62%	2.70%	3.44%	3.00%	3.07%	2.90%	1.97%	3.14%	3.77%	2.55%	3.35%	3.09%

Frequently Asked Questions

Can I hold both VEURX and DEM.L in my portfolio?

VEURX and DEM.L 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.