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VEU vs VWO: Performance & Backtest Comparison
VEU delivered the higher return - 5.15% CAGR vs 4.80% - over 2007-04-30 → 2026-07-31.
Growth comparison
Drawdown
Annual returns
| VEU | VWO | |
|---|---|---|
| Name | Vanguard FTSE All World Ex US ETF | Vanguard FTSE Emerging Markets ETF |
| CAGR | 5.15% | 4.80% |
| Total return | 164.25% | 147.55% |
| Volatility | 17.83% | 20.38% |
| Max drawdown | -58.39%Feb 2009 | -61.69%Feb 2009 |
| Sharpe | 0.29 | 0.26 |
| Sortino | 0.40 | 0.37 |
| Best year | 37.61% | 76.31% |
| Worst year | -43.43% | -52.46% |
| Final balance | $26,425 | $24,755 |
Correlation of monthly returns: 0.92. Wondering if you need both? Check their fund overlap →
All figures are total returns: every dividend and distribution is reinvested on its ex-date, and prices are split-adjusted. See the methodology.
Frequently asked questions
Which has performed better, VEU or VWO?
Over 2007-04-30 to 2026-07-31, VEU performed better: 5.15% annualized versus 4.80% for VWO, with dividends reinvested. Past performance does not guarantee future results.
How similar are VEU and VWO?
Their monthly returns have a correlation of 0.92 over the common period. VEU is Vanguard FTSE All World Ex US ETF; VWO is Vanguard FTSE Emerging Markets ETF.
Which is riskier, VEU or VWO?
Over the common period VEU had 17.83% annualized volatility and a -58.39% max drawdown, versus 20.38% and -61.69% for VWO.