VPL vs. VEA

Last updated Jun 23, 2026

VPL (Vanguard FTSE Pacific ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both exchange-traded funds - VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index, while VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 10 years, VPL returned 11.43%/yr vs 11.06%/yr for VEA. Their correlation of 0.91 suggests significant overlap in exposure. VPL charges 0.08%/yr vs 0.03%/yr for VEA.

Performance

VPL vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Pacific ETF (VPL) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VPL achieves a 33.55% return, which is significantly higher than VEA's 16.69% return. Both investments have delivered pretty close results over the past 10 years, with VPL having a 11.43% annualized return and VEA not far behind at 11.06%.

VPL

• 1D: 0.32%
• 1M: 7.88%
• YTD: 33.55%
• 6M: 35.00%
• 1Y: 58.07%
• 3Y*: 24.51%
• 5Y*: 11.40%
• 10Y*: 11.43%

VEA

• 1D: 0.11%
• 1M: 3.28%
• YTD: 16.69%
• 6M: 17.33%
• 1Y: 35.42%
• 3Y*: 20.72%
• 5Y*: 10.37%
• 10Y*: 11.06%

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

VPL vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPL Vanguard FTSE Pacific ETF	33.55%	32.66%	1.68%	15.58%	-15.20%	1.10%	16.65%	18.16%	-14.40%	28.85%
VEA Vanguard FTSE Developed Markets ETF	16.69%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between VPL and VEA is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007	0.91

The correlation between VPL and VEA has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

VPL vs. VEA - Sectors Allocation Comparison

Sectors	VPL	VEA
Technology	22.6%	16.6%
Industrials	20.5%	17.5%
Financial Services	19.3%	22.3%
Consumer Cyclical	9.6%	7.4%
Basic Materials	7.3%	7.5%
Healthcare	5.0%	7.6%
Communication Services	4.8%	3.2%
Real Estate	4.3%	2.5%
Consumer Defensive	3.5%	5.5%
Energy	1.6%	4.7%
Utilities	1.6%	3.0%

Return for Risk

VPL vs. VEA — Risk / Return Rank

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

VPL

VPL Risk / Return Rank: 84
VPL Sharpe Ratio Rank: 87
VPL Sortino Ratio Rank: 81
VPL Omega Ratio Rank: 85
VPL Calmar Ratio Rank: 84
VPL Martin Ratio Rank: 84

VEA

VEA Risk / Return Rank: 67
VEA Sharpe Ratio Rank: 69
VEA Sortino Ratio Rank: 67
VEA Omega Ratio Rank: 69
VEA Calmar Ratio Rank: 64
VEA Martin Ratio Rank: 66

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.

VPL vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Pacific ETF (VPL) and Vanguard FTSE Developed Markets ETF (VEA). 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.

	VPL	VEA	Difference
Sharpe ratio: Return per unit of total volatility	2.73	2.16	+0.57
Sortino ratio: Return per unit of downside risk	3.46	2.93	+0.53
Omega ratio: Gain probability vs. loss probability	1.50	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	4.38	3.06	+1.32
Martin ratio: Return relative to average drawdown	16.73	11.80	+4.93

VPL vs. VEA - Sharpe Ratio Comparison

The current VPL Sharpe Ratio is 2.73, which is comparable to the VEA Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of VPL and VEA, 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

VPL vs. VEA - Drawdown Comparison

The maximum VPL drawdown since its inception was -55.49%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for VPL and VEA.

Drawdown Indicators

	VPL	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-55.49%	-60.68%	+5.19%
Max Drawdown (1Y) Largest decline over 1 year	-13.33%	-11.63%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	-16.35%	-13.45%	-2.90%
Max Drawdown (5Y) Largest decline over 5 years	-31.09%	-29.71%	-1.38%
Max Drawdown (10Y) Largest decline over 10 years	-33.90%	-35.73%	+1.83%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.61%	-13.26%	+1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	3.01%	+0.47%

Volatility

VPL vs. VEA - Volatility Comparison

Vanguard FTSE Pacific ETF (VPL) has a higher volatility of 10.07% compared to Vanguard FTSE Developed Markets ETF (VEA) at 6.32%. This indicates that VPL's price experiences larger fluctuations and is considered to be riskier than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPL	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.07%	6.32%	+3.75%
Volatility (6M) Calculated over the trailing 6-month period	18.94%	14.39%	+4.55%
Volatility (1Y) Calculated over the trailing 1-year period	21.45%	16.52%	+4.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	16.71%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.49%	17.38%	+0.11%

VPL vs. VEA - Expense Ratio Comparison

VPL has a 0.08% expense ratio, which is higher than VEA's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VPL vs. VEA - Dividend Comparison

VPL's dividend yield for the trailing twelve months is around 2.51%, which matches VEA's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEA Vanguard FTSE Developed Markets ETF	2.50%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%
VPL Vanguard FTSE Pacific ETF	2.51%	4.01%	3.15%	3.12%	2.75%	3.19%	1.81%	2.84%	3.06%	2.57%	2.65%	2.43%

Frequently Asked Questions

Can I hold both VPL and VEA in my portfolio?

With a correlation of 0.92, VPL and VEA 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, VPL or VEA?

VPL has higher volatility (10.07%) compared to VEA (6.32%). In terms of maximum drawdown, VPL dropped -55.49% vs VEA's -60.68%.

Which ETF is better, VPL or VEA?

On 10-year performance, VPL leads with 11.43% vs 11.06% for VEA. On fees, VEA is cheaper at 0.03% per year. On volatility, VEA has been the lower-risk option at 6.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VPL or VEA?

Over the 10-year period, VPL has performed better with a 11.43% return vs 11.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VPL or VEA?

VEA is cheaper with a 0.03% expense ratio, compared with 0.08% for VPL.

Which ETF pays a higher dividend yield, VPL or VEA?

VPL and VEA have nearly identical dividend yields, around 2.51%.

What is the main difference between VPL and VEA?

VPL is categorized as Asia Pacific Equities, while VEA is Foreign Large Cap Equities. VPL tracks FTSE Developed Asia Pacific Index, while VEA tracks FTSE Developed All Cap ex US Index. Their fees differ too: 0.08% for VPL and 0.03% for VEA.

Which has better risk-adjusted returns?

VPL currently has the higher Sharpe Ratio (2.73 vs 2.16), 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.