VNRT.AS vs. VEUR.AS

Last updated Jun 4, 2026

VNRT.AS (Vanguard FTSE North America UCITS ETF) and VEUR.AS (Vanguard FTSE Developed Europe UCITS ETF) are both exchange-traded funds - VNRT.AS is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while VEUR.AS is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, VNRT.AS returned 14.82%/yr vs 9.20%/yr for VEUR.AS. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.

Performance

VNRT.AS vs. VEUR.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE North America UCITS ETF (VNRT.AS) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNRT.AS achieves a 11.28% return, which is significantly higher than VEUR.AS's 6.55% return. Over the past 10 years, VNRT.AS has outperformed VEUR.AS with an annualized return of 14.82%, while VEUR.AS has yielded a comparatively lower 9.20% annualized return.

VNRT.AS

• 1D: -0.22%
• 1M: 6.09%
• YTD: 11.28%
• 6M: 11.69%
• 1Y: 25.46%
• 3Y*: 19.30%
• 5Y*: 14.36%
• 10Y*: 14.82%

VEUR.AS

• 1D: -0.71%
• 1M: 3.66%
• YTD: 6.55%
• 6M: 9.83%
• 1Y: 16.22%
• 3Y*: 13.65%
• 5Y*: 9.80%
• 10Y*: 9.20%

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

VNRT.AS vs. VEUR.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNRT.AS Vanguard FTSE North America UCITS ETF	11.28%	5.05%	33.00%	21.72%	-14.59%	38.18%	9.34%	33.03%	-1.13%	6.64%
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF	6.55%	19.69%	10.27%	16.15%	-10.11%	25.55%	-2.72%	25.95%	-10.04%	10.80%

Correlation

The correlation between VNRT.AS and VEUR.AS is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014	0.70

The correlation between VNRT.AS and VEUR.AS shifts across timeframes, from 0.55 (3 years) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VNRT.AS vs. VEUR.AS — Risk / Return Rank

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

VNRT.AS

VNRT.AS Risk / Return Rank: 69
VNRT.AS Sharpe Ratio Rank: 68
VNRT.AS Sortino Ratio Rank: 64
VNRT.AS Omega Ratio Rank: 73
VNRT.AS Calmar Ratio Rank: 71
VNRT.AS Martin Ratio Rank: 69

VEUR.AS

VEUR.AS Risk / Return Rank: 35
VEUR.AS Sharpe Ratio Rank: 34
VEUR.AS Sortino Ratio Rank: 34
VEUR.AS Omega Ratio Rank: 35
VEUR.AS Calmar Ratio Rank: 33
VEUR.AS Martin Ratio Rank: 39

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.

VNRT.AS vs. VEUR.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE North America UCITS ETF (VNRT.AS) and Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS). 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.

	VNRT.AS	VEUR.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.23	1.25	+0.97
Sortino ratio: Return per unit of downside risk	2.98	1.84	+1.14
Omega ratio: Gain probability vs. loss probability	1.43	1.24	+0.20
Calmar ratio: Return relative to maximum drawdown	3.55	1.67	+1.88
Martin ratio: Return relative to average drawdown	12.73	6.30	+6.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNRT.AS vs. VEUR.AS - Sharpe Ratio Comparison

The current VNRT.AS Sharpe Ratio is 2.23, which is higher than the VEUR.AS Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of VNRT.AS and VEUR.AS, 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

	VNRT.AS	VEUR.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	1.25	+0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.68	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.58	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.52	-0.05

Drawdowns

VNRT.AS vs. VEUR.AS - Drawdown Comparison

The maximum VNRT.AS drawdown since its inception was -34.35%, roughly equal to the maximum VEUR.AS drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for VNRT.AS and VEUR.AS.

Drawdown Indicators

	VNRT.AS	VEUR.AS	Difference
Max Drawdown Largest peak-to-trough decline	-34.35%	-35.63%	+1.28%
Max Drawdown (1Y) Largest decline over 1 year	-7.07%	-9.59%	+2.52%
Max Drawdown (3Y) Largest decline over 3 years	-23.09%	-16.41%	-6.68%
Max Drawdown (5Y) Largest decline over 5 years	-23.09%	-20.19%	-2.90%
Max Drawdown (10Y) Largest decline over 10 years	-34.35%	-35.63%	+1.28%
Current Drawdown Current decline from peak	-0.22%	-2.18%	+1.96%
Average Drawdown Average peak-to-trough decline	-5.94%	-5.29%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.55%	-0.57%

Volatility

VNRT.AS vs. VEUR.AS - Volatility Comparison

The current volatility for Vanguard FTSE North America UCITS ETF (VNRT.AS) is 2.68%, while Vanguard FTSE Developed Europe UCITS ETF (VEUR.AS) has a volatility of 4.91%. This indicates that VNRT.AS experiences smaller price fluctuations and is considered to be less risky than VEUR.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNRT.AS	VEUR.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	4.91%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	10.61%	-2.98%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	12.80%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.13%	14.22%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.27%	15.51%	+1.76%

VNRT.AS vs. VEUR.AS - Expense Ratio Comparison

Both VNRT.AS and VEUR.AS have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VNRT.AS vs. VEUR.AS - Dividend Comparison

VNRT.AS's dividend yield for the trailing twelve months is around 0.87%, less than VEUR.AS's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEUR.AS Vanguard FTSE Developed Europe UCITS ETF	2.62%	2.79%	3.04%	3.00%	3.32%	2.66%	2.24%	3.24%	3.62%	3.05%	3.19%	3.10%
VNRT.AS Vanguard FTSE North America UCITS ETF	0.87%	0.98%	0.99%	1.25%	1.45%	1.00%	1.42%	1.44%	1.77%	1.64%	1.58%	1.70%

Frequently Asked Questions

Can I hold both VNRT.AS and VEUR.AS in my portfolio?

VNRT.AS and VEUR.AS have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VNRT.AS or VEUR.AS?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VNRT.AS or VEUR.AS?

VNRT.AS and VEUR.AS have the same expense ratio: 0.10% per year.

What is the main difference between VNRT.AS and VEUR.AS?

VNRT.AS is categorized as Large Cap Blend Equities, while VEUR.AS is Europe Equities. VNRT.AS tracks Russell 1000 TR USD, while VEUR.AS tracks MSCI Europe NR EUR.