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VIU.TO vs. AIRR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIU.TO vs. AIRR

Last updated Jul 21, 2026
Documentation

VIU.TO (Vanguard FTSE Developed All Cap ex North America Index ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - VIU.TO is a International Equity fund tracking the FTSE Developed All Cap ex North America Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past 10 years, VIU.TO returned 10.13%/yr vs 21.18%/yr for AIRR. A 0.53 correlation means they provide meaningful diversification when combined. VIU.TO charges 0.23%/yr vs 0.69%/yr for AIRR.

Performance

VIU.TO vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VIU.TO is traded in CAD, while AIRR is traded in USD. To make them comparable, the AIRR values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VIU.TO achieves a 14.40% return, which is significantly lower than AIRR's 25.23% return. Over the past 10 years, VIU.TO has underperformed AIRR with an annualized return of 10.13%, while AIRR has yielded a comparatively higher 21.18% annualized return.

VIU.TO

1D
-0.27%
1M
-4.99%
6M
9.09%
YTD
14.40%
1Y
28.28%
3Y*
18.92%
5Y*
11.36%
10Y*
10.13%
ALL TIME*
9.19%

AIRR

1D
-0.88%
1M
-8.69%
6M
6.93%
YTD
25.23%
1Y
44.48%
3Y*
33.30%
5Y*
27.16%
10Y*
21.18%
ALL TIME*
18.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIU.TO vs. AIRR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VIU.TO
Vanguard FTSE Developed All Cap ex North America Index ETF		14.40%28.36%10.73%15.67%-10.63%9.76%7.57%15.31%-7.37%19.23%
AIRR
First Trust RBA American Industrial Renaissance ETF		25.23%22.08%44.75%28.31%4.12%32.95%14.39%28.45%-13.89%8.40%

Correlation

The correlation between VIU.TO and AIRR 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

0.55

Correlation (5Y)
Calculated over the trailing 5-year period

0.56

Correlation (10Y)
Calculated over the trailing 10-year period

0.53

Correlation (All Time)
Calculated using the full available price history since Dec 8, 2015

0.53

The correlation between VIU.TO and AIRR has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.

VIU.TO vs. AIRR - Sectors Allocation Comparison

Sectors
VIU.TO
AIRR

Financial Services

21.1%
9.6%

Industrials

19.3%
82.7%

Technology

17.7%
0.7%

Healthcare

8.8%

-

Consumer Cyclical

8.0%
1.9%

Basic Materials

6.4%
1.9%

Consumer Defensive

5.8%

-

Communication Services

3.9%

-

Energy

3.3%
1.9%

Utilities

3.1%

-

Real Estate

2.7%

-

Financial Services

VIU.TO
21.1%
AIRR
9.6%

Industrials

VIU.TO
19.3%
AIRR
82.7%

Technology

VIU.TO
17.7%
AIRR
0.7%

Healthcare

VIU.TO
8.8%
AIRR

-

Consumer Cyclical

VIU.TO
8.0%
AIRR
1.9%

Basic Materials

VIU.TO
6.4%
AIRR
1.9%

Consumer Defensive

VIU.TO
5.8%
AIRR

-

Communication Services

VIU.TO
3.9%
AIRR

-

Energy

VIU.TO
3.3%
AIRR
1.9%

Utilities

VIU.TO
3.1%
AIRR

-

Real Estate

VIU.TO
2.7%
AIRR

-

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 Developed All Cap ex North America Index ETF

First Trust RBA American Industrial Renaissance ETF

Often compared with VIU.TO:
VIU.TO vs. XEF.TOVIU.TO vs. VIDY.TOVIU.TO vs. VCN.TOVIU.TO vs. VFV.TOVIU.TO vs. VDU.TOVIU.TO vs. XEQT.TOVIU.TO vs. VEQT.TO
Often compared with AIRR:
AIRR vs. PAVEAIRR vs. XLIAIRR vs. QQQAIRR vs. XHBAIRR vs. GRIDAIRR vs. PSCIAIRR vs. CCOR

Return for Risk

VIU.TO vs. AIRR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIU.TO
VIU.TO Risk / Return Rank: 6969
Overall Rank
VIU.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
VIU.TO Sortino Ratio Rank: 6868
Sortino Ratio Rank
VIU.TO Omega Ratio Rank: 7272
Omega Ratio Rank
VIU.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
VIU.TO Martin Ratio Rank: 7070
Martin Ratio Rank
AIRR
AIRR Risk / Return Rank: 6767
Overall Rank
AIRR Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
AIRR Sortino Ratio Rank: 6060
Sortino Ratio Rank
AIRR Omega Ratio Rank: 5454
Omega Ratio Rank
AIRR Calmar Ratio Rank: 8282
Calmar Ratio Rank
AIRR Martin Ratio Rank: 7777
Martin Ratio Rank
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.

VIU.TO vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

VIU.TOAIRRDifference
Sharpe ratioReturn per unit of total volatility
1.68
1.62

+0.07

Sortino ratioReturn per unit of downside risk
2.34
2.27

+0.07

Omega ratioGain probability vs. loss probability

1.32

1.26

+0.05

Calmar ratioReturn relative to maximum drawdown

2.42

3.81

-1.39

Martin ratioReturn relative to average drawdown

9.32

11.59

-2.27

VIU.TO vs. AIRR - Sharpe Ratio Comparison

The current VIU.TO Sharpe Ratio is 1.68, which is comparable to the AIRR Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of VIU.TO and AIRR, 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

VIU.TO vs. AIRR - Drawdown Comparison

The maximum VIU.TO drawdown since its inception was -29.15%, smaller than the maximum AIRR drawdown of -37.96%. Use the drawdown chart below to compare losses from any high point for VIU.TO and AIRR.

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Drawdown Indicators

VIU.TOAIRRDifference

Max Drawdown

Largest peak-to-trough decline

-29.15%

-37.96%

+8.81%

Max Drawdown (1Y)

Largest decline over 1 year

-11.74%

-11.74%

0.00%

Max Drawdown (3Y)

Largest decline over 3 years

-14.26%

-27.05%

+12.79%

Max Drawdown (5Y)

Largest decline over 5 years

-25.34%

-27.05%

+1.71%

Max Drawdown (10Y)

Largest decline over 10 years

-29.15%

-37.96%

+8.81%

Current Drawdown

Current decline from peak

-5.58%

-10.99%

+5.41%

Average Drawdown

Average peak-to-trough decline

-5.29%

-6.51%

+1.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.04%

3.85%

-0.81%

Volatility

VIU.TO vs. AIRR - Volatility Comparison

The current volatility for Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) is 5.45%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 8.52%. This indicates that VIU.TO experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VIU.TOAIRRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.45%

8.52%

-3.07%

Volatility (6M)

Calculated over the trailing 6-month period

15.06%

21.60%

-6.54%

Volatility (1Y)

Calculated over the trailing 1-year period

16.92%

27.70%

-10.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.29%

26.15%

-11.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.02%

27.03%

-12.01%

VIU.TO vs. AIRR - Expense Ratio Comparison

VIU.TO has a 0.23% expense ratio, which is lower than AIRR's 0.69% expense ratio.

Dividends

VIU.TO vs. AIRR - Dividend Comparison

VIU.TO's dividend yield for the trailing twelve months is around 2.32%, more than AIRR's 0.09% yield.

PositionTTM20252024202320222021202020192018201720162015
AIRR
First Trust RBA American Industrial Renaissance ETF		0.09%0.19%0.18%0.23%0.12%0.05%0.10%0.20%0.43%0.30%0.08%0.47%
VIU.TO
Vanguard FTSE Developed All Cap ex North America Index ETF		2.32%2.48%2.56%2.66%2.76%2.38%1.98%2.68%2.76%2.13%1.72%0.28%

Frequently Asked Questions

VIU.TO and AIRR 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.

On fees, VIU.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VIU.TO is cheaper with a 0.23% expense ratio, compared with 0.69% for AIRR.

VIU.TO is categorized as International Equity, while AIRR is Building & Construction. VIU.TO tracks FTSE Developed All Cap ex North America Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. They also come from different issuers: Vanguard and First Trust. Their fees differ too: 0.23% for VIU.TO and 0.69% for AIRR.

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