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VGK vs. IEV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGK vs. IEV

Last updated Aug 2, 2026
Documentation

VGK (Vanguard FTSE Europe ETF) and IEV (iShares Europe ETF) are both Europe Equities funds - VGK tracks the FTSE Developed Europe All Cap Index while IEV tracks the S&P Europe 350 Index. Both are passively managed. Over the past 10 years, VGK returned 10.03%/yr vs 9.81%/yr for IEV. Their 0.99 correlation means they have historically moved very closely together. VGK charges 0.06%/yr vs 0.60%/yr for IEV.

Performance

VGK vs. IEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Europe ETF (VGK) and iShares Europe ETF (IEV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with VGK having a 10.34% return and IEV slightly lower at 10.21%. Both investments have delivered pretty close results over the past 10 years, with VGK having a 10.03% annualized return and IEV not far behind at 9.81%.

VGK

1D
-0.44%
1M
1.39%
6M
5.43%
YTD
10.34%
1Y
24.06%
3Y*
16.62%
5Y*
9.31%
10Y*
10.03%
ALL TIME*
6.47%

IEV

1D
-0.44%
1M
0.94%
6M
5.40%
YTD
10.21%
1Y
24.55%
3Y*
16.27%
5Y*
9.68%
10Y*
9.81%
ALL TIME*
5.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IEV

iShares Europe ETF
$9.58M$7.30M$8.64M

VGK

Vanguard FTSE Europe ETF
$214.81M$182.15M$234.17M

VGK vs. IEV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VGK
Vanguard FTSE Europe ETF		10.34%35.83%1.88%20.19%-15.98%16.89%5.43%24.85%-14.89%26.98%
IEV
iShares Europe ETF		10.21%35.63%1.36%20.14%-14.24%16.73%4.07%24.03%-14.68%24.84%

Correlation

The correlation between VGK and IEV is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.99

Correlation (3Y)
Balances recent behavior with more history.

0.99

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.99

Correlation (10Y)
Provides a long-term view across more market conditions.

0.99

Correlation (All Time)
Calculated using the full available price history since Mar 10, 2005

0.99

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

VGK vs. IEV - Sectors Allocation Comparison

Sectors
VGK
IEV

Financial Services

24.1%
25.5%

Industrials

20.0%
18.1%

Healthcare

12.6%
12.8%

Technology

9.9%
9.2%

Consumer Defensive

7.8%
8.2%

Consumer Cyclical

7.0%
6.5%

Basic Materials

5.2%
5.5%

Energy

4.5%
5.1%

Utilities

4.5%
4.7%

Communication Services

2.8%
3.2%

Real Estate

1.5%
0.6%

Financial Services

VGK
24.1%
IEV
25.5%

Industrials

VGK
20.0%
IEV
18.1%

Healthcare

VGK
12.6%
IEV
12.8%

Technology

VGK
9.9%
IEV
9.2%

Consumer Defensive

VGK
7.8%
IEV
8.2%

Consumer Cyclical

VGK
7.0%
IEV
6.5%

Basic Materials

VGK
5.2%
IEV
5.5%

Energy

VGK
4.5%
IEV
5.1%

Utilities

VGK
4.5%
IEV
4.7%

Communication Services

VGK
2.8%
IEV
3.2%

Real Estate

VGK
1.5%
IEV
0.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Europe ETF

iShares Europe ETF

Often compared with VGK:
VGK vs. VEAVGK vs. IEURVGK vs. VXUSVGK vs. VOOVGK vs. VEUVGK vs. FEZVGK vs. SPEU
Often compared with IEV:
IEV vs. IEURIEV vs. SPYIEV vs. FEZIEV vs. EZUIEV vs. VOOIEV vs. SPEUIEV vs. VEA

Return for Risk

VGK vs. IEV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VGK
VGK Risk / Return Rank: 6262
Overall Rank
VGK Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
VGK Sortino Ratio Rank: 6666
Sortino Ratio Rank
VGK Omega Ratio Rank: 6161
Omega Ratio Rank
VGK Calmar Ratio Rank: 5555
Calmar Ratio Rank
VGK Martin Ratio Rank: 6262
Martin Ratio Rank
IEV
IEV Risk / Return Rank: 6262
Overall Rank
IEV Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IEV Sortino Ratio Rank: 6666
Sortino Ratio Rank
IEV Omega Ratio Rank: 6262
Omega Ratio Rank
IEV Calmar Ratio Rank: 5555
Calmar Ratio Rank
IEV Martin Ratio Rank: 6161
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VGK vs. IEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Europe ETF (VGK) and iShares Europe ETF (IEV). 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.

VGKIEVDifference
Sharpe ratioReturn per unit of total volatility
1.48
1.50

-0.02

Sortino ratioReturn per unit of downside risk
2.16
2.18

-0.02

Omega ratioGain probability vs. loss probability

1.26

1.26

0.00

Calmar ratioReturn relative to maximum drawdown

1.95

1.95

0.00

Martin ratioReturn relative to average drawdown

7.41

7.28

+0.12

VGK vs. IEV - Sharpe Ratio Comparison

The current VGK Sharpe Ratio is 1.48, which is comparable to the IEV Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of VGK and IEV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VGK vs. IEV - Drawdown Comparison

The maximum VGK drawdown since its inception was -63.61%, roughly equal to the maximum IEV drawdown of -63.27%. Use the drawdown chart below to compare losses from any high point for VGK and IEV.

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Drawdown Indicators

VGKIEVDifference

Max Drawdown

Largest peak-to-trough decline

-63.61%

-63.27%

-0.34%

Max Drawdown (1Y)

Largest decline over 1 year

-12.09%

-12.31%

+0.22%

Max Drawdown (3Y)

Largest decline over 3 years

-14.31%

-14.63%

+0.32%

Max Drawdown (5Y)

Largest decline over 5 years

-32.74%

-30.60%

-2.14%

Max Drawdown (10Y)

Largest decline over 10 years

-37.24%

-36.62%

-0.62%

Current Drawdown

Current decline from peak

-0.44%

-0.44%

0.00%

Average Drawdown

Average peak-to-trough decline

-13.25%

-14.96%

+1.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.17%

3.29%

-0.12%

Volatility

VGK vs. IEV - Volatility Comparison

Vanguard FTSE Europe ETF (VGK) and iShares Europe ETF (IEV) have volatilities of 4.44% and 4.37%, 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

VGKIEVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.44%

4.37%

+0.07%

Volatility (6M)

Calculated over the trailing 6-month period

13.76%

13.80%

-0.04%

Volatility (1Y)

Calculated over the trailing 1-year period

15.90%

16.02%

-0.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.97%

17.65%

+0.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.49%

18.21%

+0.28%

VGK vs. IEV - Expense Ratio Comparison

VGK has a 0.06% expense ratio, which is lower than IEV's 0.60% expense ratio.

Dividends

VGK vs. IEV - Dividend Comparison

VGK's dividend yield for the trailing twelve months is around 2.83%, more than IEV's 2.74% yield.

PositionTTM20252024202320222021202020192018201720162015
IEV
iShares Europe ETF		2.74%2.73%3.10%2.77%3.06%2.81%1.76%3.06%3.43%2.39%3.08%2.81%
VGK
Vanguard FTSE Europe ETF		2.83%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

With a correlation of 0.99, VGK and IEV 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.

VGK has higher volatility (4.44%) compared to IEV (4.37%). In terms of maximum drawdown, VGK dropped -63.61% vs IEV's -63.27%.

On 10-year performance, VGK leads with 10.03% vs 9.81% for IEV. On fees, VGK is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VGK has performed better with a 10.03% return vs 9.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VGK is cheaper with a 0.06% expense ratio, compared with 0.60% for IEV.

VGK has the higher dividend yield at 2.83%, compared with 2.74% for IEV.

VGK tracks FTSE Developed Europe All Cap Index, while IEV tracks S&P Europe 350 Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.06% for VGK and 0.60% for IEV.

IEV currently has the higher Sharpe Ratio (1.50 vs 1.48), 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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