VFWAX vs. VTRIX

Last updated Jun 13, 2026

VFWAX (Vanguard FTSE All-World ex-US Index Fund Admiral Shares) and VTRIX (Vanguard International Value Fund) are both Foreign Large Cap Equities funds from Vanguard. Over the past 10 years, VFWAX returned 10.14%/yr vs 9.68%/yr for VTRIX. With a 0.97 correlation, they move nearly in lockstep. VFWAX charges 0.11%/yr vs 0.36%/yr for VTRIX.

Performance

VFWAX vs. VTRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX) and Vanguard International Value Fund (VTRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VFWAX having a 13.24% return and VTRIX slightly higher at 13.32%. Both investments have delivered pretty close results over the past 10 years, with VFWAX having a 10.14% annualized return and VTRIX not far behind at 9.68%.

VFWAX

• 1D: 3.19%
• 1M: 0.27%
• YTD: 13.24%
• 6M: 15.08%
• 1Y: 29.72%
• 3Y*: 18.68%
• 5Y*: 8.37%
• 10Y*: 10.14%

VTRIX

• 1D: 2.37%
• 1M: 1.35%
• YTD: 13.32%
• 6M: 14.90%
• 1Y: 30.50%
• 3Y*: 15.74%
• 5Y*: 7.66%
• 10Y*: 9.68%

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

VFWAX vs. VTRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFWAX Vanguard FTSE All-World ex-US Index Fund Admiral Shares	13.24%	32.32%	5.43%	15.55%	-15.51%	8.08%	11.34%	21.53%	-13.97%	27.20%
VTRIX Vanguard International Value Fund	13.32%	29.87%	0.86%	16.13%	-11.67%	7.93%	8.96%	20.39%	-14.52%	27.98%

Correlation

The correlation between VFWAX and VTRIX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
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 Sep 27, 2011	0.97

The correlation between VFWAX and VTRIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

VFWAX vs. VTRIX - Sectors Allocation Comparison

Sectors	VFWAX	VTRIX
Financial Services	23.3%	26.4%
Technology	18.5%	14.7%
Industrials	15.7%	13.3%
Consumer Cyclical	8.2%	13.3%
Basic Materials	7.1%	6.3%
Healthcare	7.1%	9.0%
Energy	5.2%	4.6%
Consumer Defensive	5.1%	8.0%
Communication Services	4.6%	2.6%
Utilities	3.2%	0.3%
Real Estate	2.0%	1.5%

Return for Risk

VFWAX vs. VTRIX — Risk / Return Rank

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

VFWAX

VFWAX Risk / Return Rank: 65
VFWAX Sharpe Ratio Rank: 67
VFWAX Sortino Ratio Rank: 63
VFWAX Omega Ratio Rank: 67
VFWAX Calmar Ratio Rank: 66
VFWAX Martin Ratio Rank: 63

VTRIX

VTRIX Risk / Return Rank: 69
VTRIX Sharpe Ratio Rank: 75
VTRIX Sortino Ratio Rank: 73
VTRIX Omega Ratio Rank: 70
VTRIX Calmar Ratio Rank: 66
VTRIX Martin Ratio Rank: 59

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.

VFWAX vs. VTRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX) and Vanguard International Value Fund (VTRIX). 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.

	VFWAX	VTRIX	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.04	-0.16
Sortino ratio: Return per unit of downside risk	2.57	2.83	-0.26
Omega ratio: Gain probability vs. loss probability	1.35	1.37	-0.01
Calmar ratio: Return relative to maximum drawdown	2.54	2.56	-0.02
Martin ratio: Return relative to average drawdown	9.81	9.44	+0.38

VFWAX vs. VTRIX - Sharpe Ratio Comparison

The current VFWAX Sharpe Ratio is 1.88, which is comparable to the VTRIX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of VFWAX and VTRIX, 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

VFWAX vs. VTRIX - Drawdown Comparison

The maximum VFWAX drawdown since its inception was -34.93%, smaller than the maximum VTRIX drawdown of -59.39%. Use the drawdown chart below to compare losses from any high point for VFWAX and VTRIX.

Drawdown Indicators

	VFWAX	VTRIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.93%	-59.39%	+24.46%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-11.42%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-16.78%	+3.53%
Max Drawdown (5Y) Largest decline over 5 years	-29.30%	-27.54%	-1.76%
Max Drawdown (10Y) Largest decline over 10 years	-34.93%	-38.26%	+3.33%
Current Drawdown Current decline from peak	-2.19%	-1.39%	-0.80%
Average Drawdown Average peak-to-trough decline	-7.18%	-13.87%	+6.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	3.09%	-0.16%

Volatility

VFWAX vs. VTRIX - Volatility Comparison

Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX) has a higher volatility of 6.53% compared to Vanguard International Value Fund (VTRIX) at 4.86%. This indicates that VFWAX's price experiences larger fluctuations and is considered to be riskier than VTRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFWAX	VTRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.53%	4.86%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	13.17%	11.48%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	14.31%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.36%	15.92%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	16.56%	-0.43%

VFWAX vs. VTRIX - Expense Ratio Comparison

VFWAX has a 0.11% expense ratio, which is lower than VTRIX's 0.36% expense ratio.

Dividends

VFWAX vs. VTRIX - Dividend Comparison

VFWAX's dividend yield for the trailing twelve months is around 2.60%, less than VTRIX's 15.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFWAX Vanguard FTSE All-World ex-US Index Fund Admiral Shares	2.60%	3.05%	3.20%	3.28%	3.07%	3.03%	1.97%	3.07%	3.24%	2.67%	2.96%	2.95%
VTRIX Vanguard International Value Fund	15.97%	18.10%	8.53%	2.78%	2.75%	4.35%	1.58%	2.96%	6.24%	1.86%	2.29%	2.13%

Frequently Asked Questions

Can I hold both VFWAX and VTRIX in my portfolio?

With a correlation of 0.94, VFWAX and VTRIX 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, VFWAX or VTRIX?

VFWAX has higher volatility (6.53%) compared to VTRIX (4.86%). In terms of maximum drawdown, VFWAX dropped -34.93% vs VTRIX's -59.39%.

Which has better risk-adjusted returns?

VTRIX currently has the higher Sharpe Ratio (2.04 vs 1.88), 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.