VEVE.AS vs. FQAL

Last updated Jun 4, 2026

VEVE.AS (Vanguard FTSE Developed World UCITS ETF) and FQAL (Fidelity Quality Factor ETF) are both exchange-traded funds - VEVE.AS is a Global Equities fund tracking the MSCI ACWI NR USD, while FQAL is a Large Cap Growth Equities fund tracking the Fidelity U.S. Quality Factor Index. Both are passively managed. Over the past 5 years, VEVE.AS returned 13.19%/yr vs 13.47%/yr for FQAL. A 0.59 correlation means they provide meaningful diversification when combined. VEVE.AS charges 0.12%/yr vs 0.29%/yr for FQAL.

Performance

VEVE.AS vs. FQAL - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE Developed World UCITS ETF (VEVE.AS) and Fidelity Quality Factor ETF (FQAL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VEVE.AS is traded in EUR, while FQAL is traded in USD. To make them comparable, the FQAL values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, VEVE.AS achieves a 13.12% return, which is significantly higher than FQAL's 9.17% return.

VEVE.AS

• 1D: -0.29%
• 1M: 6.37%
• YTD: 13.12%
• 6M: 14.07%
• 1Y: 26.84%
• 3Y*: 18.43%
• 5Y*: 13.19%
• 10Y*: 13.05%

FQAL

• 1D: -0.30%
• 1M: 5.13%
• YTD: 9.17%
• 6M: 8.45%
• 1Y: 18.71%
• 3Y*: 16.86%
• 5Y*: 13.47%
• 10Y*: —

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

VEVE.AS vs. FQAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEVE.AS Vanguard FTSE Developed World UCITS ETF	13.12%	8.22%	26.33%	19.38%	-13.20%	31.47%	6.50%	29.40%	-4.85%	8.40%
FQAL Fidelity Quality Factor ETF	9.17%	3.05%	29.97%	20.47%	-14.72%	42.01%	6.59%	31.01%	0.10%	7.91%

Correlation

The correlation between VEVE.AS and FQAL is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016	0.59

The correlation between VEVE.AS and FQAL has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.

Return for Risk

VEVE.AS vs. FQAL — Risk / Return Rank

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

VEVE.AS

VEVE.AS Risk / Return Rank: 77
VEVE.AS Sharpe Ratio Rank: 72
VEVE.AS Sortino Ratio Rank: 72
VEVE.AS Omega Ratio Rank: 75
VEVE.AS Calmar Ratio Rank: 81
VEVE.AS Martin Ratio Rank: 85

FQAL

FQAL Risk / Return Rank: 55
FQAL Sharpe Ratio Rank: 55
FQAL Sortino Ratio Rank: 56
FQAL Omega Ratio Rank: 54
FQAL Calmar Ratio Rank: 50
FQAL Martin Ratio Rank: 63

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.

VEVE.AS vs. FQAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed World UCITS ETF (VEVE.AS) and Fidelity Quality Factor ETF (FQAL). 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.

	VEVE.AS	FQAL	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.61	+0.78
Sortino ratio: Return per unit of downside risk	3.30	2.21	+1.09
Omega ratio: Gain probability vs. loss probability	1.45	1.30	+0.16
Calmar ratio: Return relative to maximum drawdown	4.28	2.86	+1.42
Martin ratio: Return relative to average drawdown	17.61	11.16	+6.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEVE.AS vs. FQAL - Sharpe Ratio Comparison

The current VEVE.AS Sharpe Ratio is 2.39, which is higher than the FQAL Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of VEVE.AS and FQAL, 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

	VEVE.AS	FQAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	1.61	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.84	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.78	-0.42

Drawdowns

VEVE.AS vs. FQAL - Drawdown Comparison

The maximum VEVE.AS drawdown since its inception was -33.57%, roughly equal to the maximum FQAL drawdown of -33.29%. Use the drawdown chart below to compare losses from any high point for VEVE.AS and FQAL.

Drawdown Indicators

	VEVE.AS	FQAL	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-33.29%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-6.58%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-21.08%	-22.02%	+0.94%
Max Drawdown (5Y) Largest decline over 5 years	-21.08%	-22.02%	+0.94%
Max Drawdown (10Y) Largest decline over 10 years	-33.57%	—	—
Current Drawdown Current decline from peak	-0.29%	-0.30%	+0.01%
Average Drawdown Average peak-to-trough decline	-6.76%	-4.40%	-2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	1.68%	-0.17%

Volatility

VEVE.AS vs. FQAL - Volatility Comparison

Vanguard FTSE Developed World UCITS ETF (VEVE.AS) has a higher volatility of 3.03% compared to Fidelity Quality Factor ETF (FQAL) at 2.04%. This indicates that VEVE.AS's price experiences larger fluctuations and is considered to be riskier than FQAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEVE.AS	FQAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	2.04%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	7.88%	8.29%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	11.13%	11.71%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	16.09%	-2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.61%	18.17%	-0.56%

VEVE.AS vs. FQAL - Expense Ratio Comparison

VEVE.AS has a 0.12% expense ratio, which is lower than FQAL's 0.29% expense ratio.

Dividends

VEVE.AS vs. FQAL - Dividend Comparison

VEVE.AS's dividend yield for the trailing twelve months is around 1.23%, more than FQAL's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FQAL Fidelity Quality Factor ETF	1.12%	1.12%	1.20%	1.35%	1.52%	1.17%	1.46%	1.55%	1.73%	1.53%	0.43%	0.00%
VEVE.AS Vanguard FTSE Developed World UCITS ETF	1.23%	1.41%	1.46%	1.73%	2.04%	1.43%	1.61%	1.89%	2.28%	1.97%	1.98%	2.05%

Frequently Asked Questions

Can I hold both VEVE.AS and FQAL in my portfolio?

VEVE.AS and FQAL have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEVE.AS or FQAL?

On fees, VEVE.AS is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEVE.AS or FQAL?

VEVE.AS is cheaper with a 0.12% expense ratio, compared with 0.29% for FQAL.

What is the main difference between VEVE.AS and FQAL?

VEVE.AS is categorized as Global Equities, while FQAL is Large Cap Growth Equities. VEVE.AS tracks MSCI ACWI NR USD, while FQAL tracks Fidelity U.S. Quality Factor Index. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.12% for VEVE.AS and 0.29% for FQAL.