VEURX vs. VEUAX

Last updated Jun 26, 2026

VEURX (Vanguard European Stock Index Fund) and VEUAX (JPMorgan Europe Dynamic Fund) are both Europe Equities funds. Over the past 10 years, VEURX returned 10.09%/yr vs 10.06%/yr for VEUAX. Their correlation of 0.92 suggests significant overlap in exposure. VEURX charges 0.25%/yr vs 1.25%/yr for VEUAX.

Performance

VEURX vs. VEUAX - Performance Comparison

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

Returns By Period

In the year-to-date period, VEURX achieves a 5.78% return, which is significantly higher than VEUAX's 5.15% return. Both investments have delivered pretty close results over the past 10 years, with VEURX having a 10.09% annualized return and VEUAX not far behind at 10.06%.

VEURX

• 1D: -0.24%
• 1M: -1.57%
• YTD: 5.78%
• 6M: 5.59%
• 1Y: 17.63%
• 3Y*: 16.38%
• 5Y*: 8.30%
• 10Y*: 10.09%

VEUAX

• 1D: -0.40%
• 1M: -0.91%
• YTD: 5.15%
• 6M: 4.89%
• 1Y: 16.86%
• 3Y*: 18.51%
• 5Y*: 9.35%
• 10Y*: 10.06%

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

VEURX vs. VEUAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEURX Vanguard European Stock Index Fund	5.78%	35.20%	1.88%	19.83%	-16.16%	16.14%	6.29%	24.02%	-14.88%	26.81%
VEUAX JPMorgan Europe Dynamic Fund	5.15%	41.51%	3.48%	18.19%	-15.39%	17.68%	8.45%	21.51%	-18.69%	22.26%

Correlation

The correlation between VEURX and VEUAX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 2, 1995	0.92

The correlation between VEURX and VEUAX has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

Return for Risk

VEURX vs. VEUAX — Risk / Return Rank

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

VEURX

VEURX Risk / Return Rank: 23
VEURX Sharpe Ratio Rank: 22
VEURX Sortino Ratio Rank: 22
VEURX Omega Ratio Rank: 22
VEURX Calmar Ratio Rank: 22
VEURX Martin Ratio Rank: 26

VEUAX

VEUAX Risk / Return Rank: 20
VEUAX Sharpe Ratio Rank: 19
VEUAX Sortino Ratio Rank: 20
VEUAX Omega Ratio Rank: 19
VEUAX Calmar Ratio Rank: 20
VEUAX Martin Ratio Rank: 23

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. VEUAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard European Stock Index Fund (VEURX) and JPMorgan Europe Dynamic Fund (VEUAX). 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	VEUAX	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.02	+0.08
Sortino ratio: Return per unit of downside risk	1.63	1.54	+0.10
Omega ratio: Gain probability vs. loss probability	1.20	1.19	+0.02
Calmar ratio: Return relative to maximum drawdown	1.43	1.35	+0.08
Martin ratio: Return relative to average drawdown	5.26	4.67	+0.58

VEURX vs. VEUAX - Sharpe Ratio Comparison

The current VEURX Sharpe Ratio is 1.10, which is comparable to the VEUAX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of VEURX and VEUAX, 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. VEUAX - Drawdown Comparison

The maximum VEURX drawdown since its inception was -63.33%, roughly equal to the maximum VEUAX drawdown of -63.73%. Use the drawdown chart below to compare losses from any high point for VEURX and VEUAX.

Drawdown Indicators

	VEURX	VEUAX	Difference
Max Drawdown Largest peak-to-trough decline	-63.33%	-63.73%	+0.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	-12.07%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-13.97%	-12.89%	-1.08%
Max Drawdown (5Y) Largest decline over 5 years	-32.81%	-30.94%	-1.87%
Max Drawdown (10Y) Largest decline over 10 years	-37.03%	-44.64%	+7.61%
Current Drawdown Current decline from peak	-2.33%	-3.39%	+1.06%
Average Drawdown Average peak-to-trough decline	-12.65%	-15.42%	+2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	3.49%	-0.24%

Volatility

VEURX vs. VEUAX - Volatility Comparison

Vanguard European Stock Index Fund (VEURX) and JPMorgan Europe Dynamic Fund (VEUAX) have volatilities of 4.85% and 4.82%, 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	VEUAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	4.82%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	13.11%	13.64%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	15.60%	16.09%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.44%	17.62%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.86%	18.41%	-0.55%

VEURX vs. VEUAX - Expense Ratio Comparison

VEURX has a 0.25% expense ratio, which is lower than VEUAX's 1.25% expense ratio.

Dividends

VEURX vs. VEUAX - Dividend Comparison

VEURX's dividend yield for the trailing twelve months is around 2.79%, less than VEUAX's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEUAX JPMorgan Europe Dynamic Fund	3.28%	3.45%	3.81%	3.02%	0.77%	2.03%	1.01%	2.82%	2.60%	1.38%	1.93%	1.25%
VEURX Vanguard European Stock Index Fund	2.79%	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 VEUAX in my portfolio?

With a correlation of 0.97, VEURX and VEUAX 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 VEUAX?

VEURX has higher volatility (4.85%) compared to VEUAX (4.82%). In terms of maximum drawdown, VEURX dropped -63.33% vs VEUAX's -63.73%.

Which has better risk-adjusted returns?

VEURX currently has the higher Sharpe Ratio (1.10 vs 1.02), 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.