VGK vs. TMRAF

Last updated Jun 14, 2026

VGK (Vanguard FTSE Europe ETF) is Europe Equities fund tracking the FTSE Developed Europe All Cap Index, while TMRAF (Tomra Systems ASA) is a stock. Over the past 10 years, VGK returned 10.28%/yr vs 13.73%/yr for TMRAF. At a 0.12 correlation, their price movements are largely independent.

Performance

VGK vs. TMRAF - Performance Comparison

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

Returns By Period

In the year-to-date period, VGK achieves a 7.69% return, which is significantly higher than TMRAF's -25.86% return. Over the past 10 years, VGK has underperformed TMRAF with an annualized return of 10.28%, while TMRAF has yielded a comparatively higher 13.73% annualized return.

VGK

• 1D: 0.18%
• 1M: 4.46%
• YTD: 7.69%
• 6M: 9.92%
• 1Y: 19.73%
• 3Y*: 16.69%
• 5Y*: 8.50%
• 10Y*: 10.28%

TMRAF

• 1D: 0.00%
• 1M: 10.49%
• YTD: -25.86%
• 6M: -21.73%
• 1Y: -41.87%
• 3Y*: -12.60%
• 5Y*: -9.33%
• 10Y*: 13.73%

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

VGK vs. TMRAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGK Vanguard FTSE Europe ETF	7.69%	35.83%	1.88%	20.19%	-15.98%	16.89%	5.43%	24.85%	-14.89%	26.98%
TMRAF Tomra Systems ASA	-25.86%	7.13%	13.87%	-32.05%	-27.02%	50.97%	51.54%	46.27%	48.12%	82.30%

Correlation

The correlation between VGK and TMRAF is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Aug 10, 2007	0.12

The correlation between VGK and TMRAF shifts across timeframes, from 0.04 (1 year) to 0.15 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

VGK vs. TMRAF — Risk / Return Rank

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

VGK

VGK Risk / Return Rank: 36
VGK Sharpe Ratio Rank: 36
VGK Sortino Ratio Rank: 36
VGK Omega Ratio Rank: 34
VGK Calmar Ratio Rank: 34
VGK Martin Ratio Rank: 39

TMRAF

TMRAF Risk / Return Rank: 8
TMRAF Sharpe Ratio Rank: 10
TMRAF Sortino Ratio Rank: 12
TMRAF Omega Ratio Rank: 6
TMRAF Calmar Ratio Rank: 7
TMRAF Martin Ratio Rank: 4

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.

VGK vs. TMRAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Europe ETF (VGK) and Tomra Systems ASA (TMRAF). 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.

	VGK	TMRAF	Difference
Sharpe ratio: Return per unit of total volatility	1.13	-0.81	+1.94
Sortino ratio: Return per unit of downside risk	1.68	-1.02	+2.70
Omega ratio: Gain probability vs. loss probability	1.20	0.81	+0.40
Calmar ratio: Return relative to maximum drawdown	1.49	-0.89	+2.37
Martin ratio: Return relative to average drawdown	5.52	-1.62	+7.14

VGK vs. TMRAF - Sharpe Ratio Comparison

The current VGK Sharpe Ratio is 1.13, which is higher than the TMRAF Sharpe Ratio of -0.81. The chart below compares the historical Sharpe Ratios of VGK and TMRAF, 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

VGK vs. TMRAF - Drawdown Comparison

The maximum VGK drawdown since its inception was -63.61%, smaller than the maximum TMRAF drawdown of -71.64%. Use the drawdown chart below to compare losses from any high point for VGK and TMRAF.

Drawdown Indicators

	VGK	TMRAF	Difference
Max Drawdown Largest peak-to-trough decline	-63.61%	-71.64%	+8.03%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-47.39%	+35.30%
Max Drawdown (3Y) Largest decline over 3 years	-14.31%	-56.94%	+42.63%
Max Drawdown (5Y) Largest decline over 5 years	-32.74%	-71.64%	+38.90%
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	-71.64%	+34.40%
Current Drawdown Current decline from peak	-0.50%	-59.80%	+59.30%
Average Drawdown Average peak-to-trough decline	-13.33%	-20.67%	+7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	25.82%	-22.55%

Volatility

VGK vs. TMRAF - Volatility Comparison

The current volatility for Vanguard FTSE Europe ETF (VGK) is 5.82%, while Tomra Systems ASA (TMRAF) has a volatility of 19.08%. This indicates that VGK experiences smaller price fluctuations and is considered to be less risky than TMRAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGK	TMRAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	19.08%	-13.26%
Volatility (6M) Calculated over the trailing 6-month period	13.36%	40.28%	-26.92%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	52.03%	-36.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.98%	58.61%	-40.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	49.87%	-30.92%

Dividends

VGK vs. TMRAF - Dividend Comparison

VGK's dividend yield for the trailing twelve months is around 2.76%, more than TMRAF's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TMRAF Tomra Systems ASA	0.23%	1.55%	1.39%	1.49%	1.94%	1.01%	0.62%	1.62%	4.28%	13.33%	0.00%	0.00%
VGK Vanguard FTSE Europe ETF	2.76%	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 VGK and TMRAF in my portfolio?

VGK and TMRAF have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGK or TMRAF?

TMRAF has higher volatility (19.08%) compared to VGK (5.82%). In terms of maximum drawdown, VGK dropped -63.61% vs TMRAF's -71.64%.

Which has better risk-adjusted returns?

VGK currently has the higher Sharpe Ratio (1.13 vs -0.81), 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.