VEUSX vs. VEUAX
VEUSX (Vanguard European Stock Index Fund Admiral Shares) and VEUAX (JPMorgan Europe Dynamic Fund) are both Europe Equities funds. Over the past 10 years, VEUSX returned 9.24%/yr vs 8.94%/yr for VEUAX. Their correlation of 0.94 suggests significant overlap in exposure. VEUSX charges 0.10%/yr vs 1.25%/yr for VEUAX.
Performance
VEUSX vs. VEUAX - Performance Comparison
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Returns By Period
In the year-to-date period, VEUSX achieves a 5.74% return, which is significantly higher than VEUAX's 4.26% return. Both investments have delivered pretty close results over the past 10 years, with VEUSX having a 9.24% annualized return and VEUAX not far behind at 8.94%.
VEUSX
- 1D
- -1.25%
- 1M
- 1.30%
- YTD
- 5.74%
- 6M
- 8.90%
- 1Y
- 17.47%
- 3Y*
- 16.38%
- 5Y*
- 8.24%
- 10Y*
- 9.24%
VEUAX
- 1D
- -0.87%
- 1M
- 0.38%
- YTD
- 4.26%
- 6M
- 7.21%
- 1Y
- 15.25%
- 3Y*
- 18.33%
- 5Y*
- 8.63%
- 10Y*
- 8.94%
VEUSX vs. VEUAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEUSX Vanguard European Stock Index Fund Admiral Shares | 5.74% | 35.41% | 2.01% | 19.99% | -16.06% | 16.28% | 6.43% | 24.22% | -14.81% | 27.04% |
VEUAX JPMorgan Europe Dynamic Fund | 4.26% | 41.51% | 3.48% | 18.19% | -15.39% | 17.68% | 8.45% | 21.51% | -18.69% | 22.26% |
Correlation
The correlation between VEUSX and VEUAX is 0.96 - 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 | 0.96 |
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 Aug 14, 2001 | 0.94 |
The correlation between VEUSX and VEUAX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
VEUSX vs. VEUAX — Risk / Return Rank
VEUSX
VEUAX
VEUSX vs. VEUAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard European Stock Index Fund Admiral Shares (VEUSX) 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.
| VEUSX | VEUAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.31 | +0.21 |
| Martin ratioReturn relative to average drawdown | 5.62 | 4.61 | +1.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEUSX | VEUAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 1.01 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.49 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.48 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.43 | -0.12 |
Drawdowns
VEUSX vs. VEUAX - Drawdown Comparison
The maximum VEUSX drawdown since its inception was -63.28%, roughly equal to the maximum VEUAX drawdown of -63.73%. Use the drawdown chart below to compare losses from any high point for VEUSX and VEUAX.
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Drawdown Indicators
| VEUSX | VEUAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.28% | -63.73% | +0.45% |
Max Drawdown (1Y)Largest decline over 1 year | -11.97% | -12.07% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -12.89% | -1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -32.72% | -30.94% | -1.78% |
Max Drawdown (10Y)Largest decline over 10 years | -36.87% | -44.64% | +7.77% |
Current DrawdownCurrent decline from peak | -2.38% | -4.21% | +1.83% |
Average DrawdownAverage peak-to-trough decline | -12.95% | -15.44% | +2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 3.42% | -0.18% |
Volatility
VEUSX vs. VEUAX - Volatility Comparison
Vanguard European Stock Index Fund Admiral Shares (VEUSX) and JPMorgan Europe Dynamic Fund (VEUAX) have volatilities of 5.39% and 5.41%, 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.
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Volatility by Period
| VEUSX | VEUAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 5.41% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 12.59% | 13.16% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.25% | 15.74% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 17.57% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.24% | 18.81% | -0.57% |
VEUSX vs. VEUAX - Expense Ratio Comparison
VEUSX has a 0.10% expense ratio, which is lower than VEUAX's 1.25% expense ratio.
Dividends
VEUSX vs. VEUAX - Dividend Comparison
VEUSX's dividend yield for the trailing twelve months is around 2.80%, less than VEUAX's 3.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEUAX JPMorgan Europe Dynamic Fund | 3.31% | 3.45% | 3.81% | 3.02% | 0.77% | 2.03% | 1.01% | 2.82% | 2.60% | 1.38% | 1.93% | 1.25% |
VEUSX Vanguard European Stock Index Fund Admiral Shares | 2.80% | 2.84% | 3.58% | 3.13% | 3.22% | 3.02% | 2.08% | 3.26% | 3.92% | 2.70% | 3.52% | 3.24% |
Frequently Asked Questions
With a correlation of 0.96, VEUSX 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.
VEUAX has higher volatility (5.41%) compared to VEUSX (5.39%). In terms of maximum drawdown, VEUSX dropped -63.28% vs VEUAX's -63.73%.
VEUSX currently has the higher Sharpe Ratio (1.20 vs 1.01), 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.
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