VEUSX vs. VGK

Last updated Jun 26, 2026

VEUSX (Vanguard European Stock Index Fund Admiral Shares) and VGK (Vanguard FTSE Europe ETF) are both Europe Equities funds from Vanguard. Over the past 10 years, VEUSX returned 10.24%/yr vs 10.76%/yr for VGK. With a 0.97 correlation, they move nearly in lockstep. VEUSX charges 0.10%/yr vs 0.06%/yr for VGK.

Performance

VEUSX vs. VGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard European Stock Index Fund Admiral Shares (VEUSX) and Vanguard FTSE Europe ETF (VGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEUSX achieves a 5.86% return, which is significantly lower than VGK's 6.98% return. Over the past 10 years, VEUSX has underperformed VGK with an annualized return of 10.24%, while VGK has yielded a comparatively higher 10.76% annualized return.

VEUSX

• 1D: -0.22%
• 1M: -1.55%
• YTD: 5.86%
• 6M: 5.69%
• 1Y: 17.82%
• 3Y*: 16.55%
• 5Y*: 8.45%
• 10Y*: 10.24%

VGK

• 1D: 1.01%
• 1M: -0.51%
• YTD: 6.98%
• 6M: 6.82%
• 1Y: 19.17%
• 3Y*: 17.01%
• 5Y*: 8.69%
• 10Y*: 10.76%

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

VEUSX vs. VGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEUSX Vanguard European Stock Index Fund Admiral Shares	5.86%	35.41%	2.01%	19.99%	-16.06%	16.28%	6.43%	24.22%	-14.81%	27.04%
VGK Vanguard FTSE Europe ETF	6.98%	35.83%	1.88%	20.19%	-15.98%	16.89%	5.43%	24.85%	-14.89%	26.98%

Correlation

The correlation between VEUSX and VGK is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 10, 2005	0.97

The correlation between VEUSX and VGK has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

VEUSX vs. VGK - Sectors Allocation Comparison

Sectors	VEUSX	VGK
Financial Services	23.5%	23.6%
Industrials	20.3%	19.3%
Healthcare	12.4%	11.9%
Technology	9.4%	8.2%
Consumer Defensive	7.7%	8.4%
Consumer Cyclical	7.1%	6.8%
Basic Materials	5.6%	5.3%
Energy	5.0%	5.3%
Utilities	4.4%	4.7%
Communication Services	3.1%	3.3%
Real Estate	1.6%	1.5%

Return for Risk

VEUSX vs. VGK — Risk / Return Rank

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

VEUSX

VEUSX Risk / Return Rank: 23
VEUSX Sharpe Ratio Rank: 22
VEUSX Sortino Ratio Rank: 22
VEUSX Omega Ratio Rank: 22
VEUSX Calmar Ratio Rank: 22
VEUSX Martin Ratio Rank: 27

VGK

VGK Risk / Return Rank: 38
VGK Sharpe Ratio Rank: 39
VGK Sortino Ratio Rank: 38
VGK Omega Ratio Rank: 36
VGK Calmar Ratio Rank: 36
VGK Martin Ratio Rank: 42

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.

VEUSX vs. VGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard European Stock Index Fund Admiral Shares (VEUSX) and Vanguard FTSE Europe ETF (VGK). 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.

	VEUSX	VGK	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.22	-0.11
Sortino ratio: Return per unit of downside risk	1.65	1.80	-0.15
Omega ratio: Gain probability vs. loss probability	1.20	1.22	-0.02
Calmar ratio: Return relative to maximum drawdown	1.45	1.59	-0.15
Martin ratio: Return relative to average drawdown	5.33	5.91	-0.58

VEUSX vs. VGK - Sharpe Ratio Comparison

The current VEUSX Sharpe Ratio is 1.11, which is comparable to the VGK Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of VEUSX and VGK, 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

VEUSX vs. VGK - Drawdown Comparison

The maximum VEUSX drawdown since its inception was -63.28%, roughly equal to the maximum VGK drawdown of -63.61%. Use the drawdown chart below to compare losses from any high point for VEUSX and VGK.

Drawdown Indicators

	VEUSX	VGK	Difference
Max Drawdown Largest peak-to-trough decline	-63.28%	-63.61%	+0.33%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	-12.09%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-13.96%	-14.31%	+0.35%
Max Drawdown (5Y) Largest decline over 5 years	-32.72%	-32.74%	+0.02%
Max Drawdown (10Y) Largest decline over 10 years	-36.87%	-37.24%	+0.37%
Current Drawdown Current decline from peak	-2.27%	-1.16%	-1.11%
Average Drawdown Average peak-to-trough decline	-12.93%	-13.31%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.25%	-0.01%

Volatility

VEUSX vs. VGK - Volatility Comparison

Vanguard European Stock Index Fund Admiral Shares (VEUSX) and Vanguard FTSE Europe ETF (VGK) have volatilities of 4.86% and 4.92%, 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

	VEUSX	VGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	4.92%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	13.13%	13.40%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	15.77%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.45%	17.96%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.87%	18.56%	-0.69%

VEUSX vs. VGK - Expense Ratio Comparison

VEUSX has a 0.10% expense ratio, which is higher than VGK's 0.06% 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

VEUSX vs. VGK - Dividend Comparison

VEUSX's dividend yield for the trailing twelve months is around 2.94%, which matches VGK's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEUSX Vanguard European Stock Index Fund Admiral Shares	2.94%	2.84%	3.58%	3.13%	3.22%	3.02%	2.08%	3.26%	3.92%	2.70%	3.52%	3.24%
VGK Vanguard FTSE Europe ETF	2.92%	2.86%	3.61%	3.15%	3.25%	3.05%	2.11%	3.27%	3.95%	2.70%	3.52%	3.25%

Frequently Asked Questions

Can I hold both VEUSX and VGK in my portfolio?

With a correlation of 0.98, VEUSX and VGK 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, VEUSX or VGK?

VGK has higher volatility (4.92%) compared to VEUSX (4.86%). In terms of maximum drawdown, VEUSX dropped -63.28% vs VGK's -63.61%.

Which has better risk-adjusted returns?

VGK currently has the higher Sharpe Ratio (1.22 vs 1.11), 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.