VEURX vs. FIEUX

Last updated Jun 5, 2026

VEURX (Vanguard European Stock Index Fund) and FIEUX (Fidelity Europe Fund) are both Europe Equities funds. Over the past 10 years, VEURX returned 9.09%/yr vs 8.08%/yr for FIEUX. Their correlation of 0.90 suggests significant overlap in exposure. VEURX charges 0.25%/yr vs 1.06%/yr for FIEUX.

Performance

VEURX vs. FIEUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard European Stock Index Fund (VEURX) and Fidelity Europe Fund (FIEUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEURX achieves a 5.68% return, which is significantly lower than FIEUX's 6.33% return. Over the past 10 years, VEURX has outperformed FIEUX with an annualized return of 9.09%, while FIEUX has yielded a comparatively lower 8.08% annualized return.

VEURX

• 1D: -1.25%
• 1M: 1.29%
• YTD: 5.68%
• 6M: 8.81%
• 1Y: 17.30%
• 3Y*: 16.22%
• 5Y*: 8.09%
• 10Y*: 9.09%

FIEUX

• 1D: -0.90%
• 1M: 2.27%
• YTD: 6.33%
• 6M: 9.53%
• 1Y: 17.06%
• 3Y*: 16.77%
• 5Y*: 5.49%
• 10Y*: 8.08%

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

VEURX vs. FIEUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEURX Vanguard European Stock Index Fund	5.68%	35.20%	1.88%	19.83%	-16.16%	16.14%	6.29%	24.02%	-14.88%	26.81%
FIEUX Fidelity Europe Fund	6.33%	37.53%	4.21%	13.68%	-20.62%	6.63%	18.29%	24.43%	-17.22%	29.16%

Correlation

The correlation between VEURX and FIEUX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 19, 1990	0.90

The correlation between VEURX and FIEUX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

VEURX vs. FIEUX — Risk / Return Rank

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

VEURX

VEURX Risk / Return Rank: 18
VEURX Sharpe Ratio Rank: 17
VEURX Sortino Ratio Rank: 17
VEURX Omega Ratio Rank: 17
VEURX Calmar Ratio Rank: 18
VEURX Martin Ratio Rank: 22

FIEUX

FIEUX Risk / Return Rank: 17
FIEUX Sharpe Ratio Rank: 15
FIEUX Sortino Ratio Rank: 15
FIEUX Omega Ratio Rank: 15
FIEUX Calmar Ratio Rank: 17
FIEUX Martin Ratio Rank: 21

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. FIEUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard European Stock Index Fund (VEURX) and Fidelity Europe Fund (FIEUX). 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.

	VEURX	FIEUX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.09	+0.09
Sortino ratio: Return per unit of downside risk	1.73	1.63	+0.10
Omega ratio: Gain probability vs. loss probability	1.22	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.51	1.44	+0.06
Martin ratio: Return relative to average drawdown	5.55	5.37	+0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEURX vs. FIEUX - Sharpe Ratio Comparison

The current VEURX Sharpe Ratio is 1.19, which is comparable to the FIEUX Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of VEURX and FIEUX, 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

	VEURX	FIEUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.09	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.32	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.45	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.44	-0.06

Drawdowns

VEURX vs. FIEUX - Drawdown Comparison

The maximum VEURX drawdown since its inception was -63.33%, which is greater than FIEUX's maximum drawdown of -59.96%. Use the drawdown chart below to compare losses from any high point for VEURX and FIEUX.

Drawdown Indicators

	VEURX	FIEUX	Difference
Max Drawdown Largest peak-to-trough decline	-63.33%	-59.96%	-3.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	-12.38%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.97%	-13.27%	-0.70%
Max Drawdown (5Y) Largest decline over 5 years	-32.81%	-38.04%	+5.23%
Max Drawdown (10Y) Largest decline over 10 years	-37.03%	-38.04%	+1.01%
Current Drawdown Current decline from peak	-2.43%	-1.37%	-1.06%
Average Drawdown Average peak-to-trough decline	-12.67%	-14.04%	+1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.32%	-0.08%

Volatility

VEURX vs. FIEUX - Volatility Comparison

The current volatility for Vanguard European Stock Index Fund (VEURX) is 5.40%, while Fidelity Europe Fund (FIEUX) has a volatility of 6.19%. This indicates that VEURX experiences smaller price fluctuations and is considered to be less risky than FIEUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEURX	FIEUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	6.19%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	12.57%	14.03%	-1.46%
Volatility (1Y) Calculated over the trailing 1-year period	15.23%	16.33%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.38%	17.29%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	17.94%	+0.29%

VEURX vs. FIEUX - Expense Ratio Comparison

VEURX has a 0.25% expense ratio, which is lower than FIEUX's 1.06% expense ratio.

Dividends

VEURX vs. FIEUX - Dividend Comparison

VEURX's dividend yield for the trailing twelve months is around 2.65%, more than FIEUX's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIEUX Fidelity Europe Fund	2.10%	2.23%	3.28%	1.62%	0.00%	16.10%	1.15%	7.42%	11.93%	2.52%	1.51%	0.43%
VEURX Vanguard European Stock Index Fund	2.65%	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 FIEUX in my portfolio?

With a correlation of 0.95, VEURX and FIEUX 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.

Which is riskier, VEURX or FIEUX?

FIEUX has higher volatility (6.19%) compared to VEURX (5.40%). In terms of maximum drawdown, VEURX dropped -63.33% vs FIEUX's -59.96%.

Which has better risk-adjusted returns?

VEURX currently has the higher Sharpe Ratio (1.19 vs 1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.