# How Vanguard FTSE Developed Markets ETF (VEA) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/vea
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on VEA alone. It places VEA (Vanguard FTSE Developed Markets ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where VEA stands in the market, and of the alternatives worth a closer look.

Period covered: VEA's full trading record, from July 2007 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** VEA has trailed the market, rising 1.4% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. Not every peer went the same way. Over the past 6 months, EFV (iShares MSCI EAFE Value ETF) rose 3.9% and DINT (Davis Select International ETF) fell 3.6%.
- **Fund or market?:** VEA rose 1.0% over the past 3 months, in line with the developed international stock ETF EFA (iShares MSCI EAFE ETF), which rose 1.1%. The S&P 500 rose 3.9%.
- **Long term:** Over the past decade, VEA returned 9.7% a year against 15.5% a year for the S&P 500 (153% in total against 321%). On the flip side, over the past decade, only IVLU (iShares MSCI Intl Value Factor ETF) of its similar funds outpaced VEA.
- **In a crash:** Across six sell-offs, VEA has typically fallen 1.2 times as far as the S&P 500.
- **Diversification:** VEA is more of the same, not a cushion: a correlation of 0.81 with the S&P 500 over 5 years and 0.81 with the total US market, more closely than 65% of ETFs with at least $100 million in assets. VEA fell in 18 of the 22 months the S&P 500 fell over the past 5 years: it usually fell with it.
- **Better options**
  - **Nearby categories and themes:** LVHI (Franklin International Low Volatility High Dividend Index ETF, international equity) and DBEF (Xtrackers MSCI EAFE Hedged Equity ETF, international equity) earned more than VEA with less volatility over the past 5 years. LVHI returned 17.0% a year at 11.1% volatility, against 9.3% a year at 16.9%.
  - **Whole market:** 85 of the 3,633 stocks and funds worth at least $500 million earned more than VEA with less volatility over the past 5 years, among them VTV (Vanguard Morningstar Value ETF), VIG (Vanguard Dividend Appreciation ETF) and VYM (Vanguard High Dividend Yield ETF).

## How much would $10,000 in VEA have grown?

This chart tracks a hypothetical $10,000 investment in VEA over the past 16 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VEA over the same span and VEA's popular alternatives, among those that traded for the entire period.

- $10,000 invested in VEA at the end of September 2010 would have grown to $33,607 by September 2026, less than the $88,503 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of VEA, and DXJ finished highest, at $83,812.

## VEA at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- VEA's deepest decline since it began trading in 2007 was 60.7%, from October 2007 to March 2009. It took about five years from the low to climb back to its old high.
- Over 18 full calendar years, VEA's best was 2025, when it returned 35.2%, and its worst was 2008, when it lost 40.6%. It lost money in six of those years.
- VEA is 5.2% below its all-time high.

- Type: ETF, International (Asset Management)
- Trading since: July 26, 2007
- Assets: $314B
- Expense ratio: 0.03%
- Volatility (5 years): 16.9%; Sharpe ratio: 0.61
- Worst decline ever: −60.7%, from October 31, 2007 to March 9, 2009; back at its high by May 27, 2014

| Period | VEA total return |
| --- | --- |
| 1 month | −3.5% |
| 3 months | +1.0% |
| 6 months | +1.4% |
| year to date | +11.5% |
| 1 year | +17.0% |
| 3 years | +81.0% |
| 5 years | +55.9% |
| 10 years | +153% |

## VEA against the whole market

Where VEA ranks among every stock and fund, and what across the market has done better.

### How does VEA rank among all ETFs?

This section ranks VEA on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history.

- VEA lands in the broad middle of the market on every measure here. VEA's 1-year return ranks in the top 25% of the 2,485 ETFs with at least $100 million in assets with 1 year of history.

| Measure | VEA | Rank |
| --- | --- | --- |
| 1-year return | +17.0% | 625 of 2,485 (top 26%) |
| 3-year return | +81.0% | 547 of 1,949 (top 29%) |
| 5-year return | +55.9% | 579 of 1,560 (top 38%) |
| 10-year return | +153% | 457 of 958 (top 48%) |
| Volatility, 5 years | 16.9% | 815 of 1,560 (top 53%) |
| Sharpe ratio, 5 years | 0.61 | 694 of 1,560 (top 45%) |
| Worst decline, past 10 years | −35.8% | 378 of 951 (top 40%) |

### What has beaten VEA on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 85 ETFs worth at least $500 million sit in the green region: each earned more than VEA over the past 5 years with smaller price swings. That is 2% of the 3,633 screened.
- Among those with at least half VEA's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 34% less than VEA's 16.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.61 for VEA.
- Among VEA's popular alternatives, HDEF, EFV and RODM are in the region. HDEF earned 12.8% a year against 9.3% a year for VEA, at 14.2% volatility, 16% less than VEA's 16.9%.

### Is there a better investment than VEA?

The table below lists investments that beat VEA over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio.

- Among VEA's popular alternatives, EFV, RODM and HDEF earned more than VEA with less volatility over the past 5 years. EFV returned 13.6% a year at 15.9% volatility, against 9.3% a year at 16.9%.
- Looking beyond its popular alternatives, LVHI (international equity) and DBEF (international equity) earned more than VEA with less volatility over the past 5 years. LVHI returned 17.0% a year at 11.1% volatility, against 9.3% a year at 16.9%.
- Across the whole market, 85 of the 3,633 stocks and funds worth at least $500 million earned more than VEA with less volatility over the past 5 years, among them VTV, VIG and VYM.

The 15 strongest of 85 investments that beat VEA over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with VEA | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| VEA: Vanguard FTSE Developed Markets ETF (this page) |  | +9.3% | 16.9% | 0.61 | −35.8% | +153% |  |  |
| SIXA: ETC 6 Meridian Mega Cap Equity ETF | Broad Market | +12.8% | 12.7% | 1.01 | −18.4% | — | 0.85 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | US Large-Cap Value | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.84 | Higher return, lower volatility; Higher return in most periods |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.78 | Higher return, lower volatility; Higher return in most periods |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | US Dividend Equity | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.84 | Higher return, lower volatility; Higher return in most periods |
| PVAL: Putnam Focused Large Cap Value ETF | US Large-Cap Value | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.82 | Higher return, lower volatility; Higher return in most periods |
| HDV: iShares Core High Dividend ETF | US Dividend Equity | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.69 | Higher return, lower volatility; Higher return in most periods |
| RWL: Invesco S&P 500 Revenue ETF | US Large-Cap Equity | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.84 | Higher return, lower volatility; Higher return in most periods |
| PJUL: Innovator U.S. Equity Power Buffer ETF | Broad Market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.77 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| FJAN: FT Vest U.S. Equity Buffer ETF - January | Multi-Asset | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.79 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| FDL: First Trust Morningstar Dividend Leaders Index Fund | US Dividend Equity | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.69 | Higher return, lower volatility; Higher return in most periods |
| JQUA: JPMorgan U.S. Quality Factor ETF | US Quality Equity | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.82 | Higher return, lower volatility; Higher return in most periods |
| VYMI: Vanguard International High Dividend Yield ETF | International Equity | +13.2% | 14.8% | 0.92 | −40.0% | +176% | 0.93 | Higher return, lower volatility; Higher return in most periods |
| GCOW: Pacer Global Cash Cows Dividend ETF | International | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.79 | Higher return, lower volatility; Higher return in most periods |
| IWX: iShares Russell Top 200 Value ETF | Broad Market | +12.7% | 13.8% | 0.94 | −35.8% | +221% | 0.85 | Higher return, lower volatility; Higher return in most periods |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | International Equity | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.90 | Higher return, lower volatility; Higher return in most periods |

## VEA against its popular alternatives

The investments people most often weigh against VEA, compared period by period and year by year.

### How do VEA's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Nine of the 22 popular alternatives, led by IVLU, EFV and HDEF, were both more rewarding and calmer than VEA over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, VEA returned 9.3% a year, less than the S&P 500's 12.7%, with lower volatility (16.9% against 17.1%).

### Has VEA consistently beaten its popular alternatives?

This section compares VEA with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Five of the 25 popular alternatives, led by SPY, VT and IVLU, outperformed VEA in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SPY, VT and IVLU outperformed VEA in every long-term period and in all but one short-term period, the most consistent record in the group.
- SPY, VT and EFAV earned more for the risk they took than VEA (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of VEA | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| VEA: Vanguard FTSE Developed Markets ETF (this page) | +17.0% | +81.0% | +55.9% | +153% |  |  | 0.61 |
| [SPY](https://easycompare.io/research/spy): State Street SPDR S&P 500 ETF | +15.8% | +89.3% | +81.7% | +321% | 4/5 short-term, 3/3 long-term | all-weather | 0.79 |
| [VT](https://easycompare.io/research/vt): Vanguard Total World Stock ETF | +15.0% | +83.8% | +63.3% | +223% | 4/5 short-term, 3/3 long-term | all-weather | 0.69 |
| IVLU: iShares MSCI Intl Value Factor ETF | +23.0% | +98.1% | +97.7% | +175% | 4/5 short-term, 3/3 long-term | all-weather | 0.91 |
| EFV: iShares MSCI EAFE Value ETF | +21.4% | +92.4% | +89.0% | +157% | 5/5 short-term, 2/3 long-term | consistent | 0.88 |
| RODM: Hartford Multifactor Developed Markets (ex-US) ETF | +21.6% | +90.0% | +65.4% | +141% | 5/5 short-term, 2/3 long-term | consistent | 0.82 |
| AVDE: Avantis International Equity ETF | +16.4% | +83.7% | +61.8% | — | 2/5 short-term, 2/3 long-term |  | 0.67 |
| HDEF: Xtrackers MSCI EAFE High Dividend Yield Equity ETF | +18.9% | +75.2% | +82.4% | +134% | 5/5 short-term, 1/3 long-term |  | 0.92 |
| DFAI: Dimensional - International Core Equity Market ETF | +15.8% | +78.5% | +59.0% | — | 2/5 short-term, 1/3 long-term |  | 0.66 |
| DWM: WisdomTree International Equity Fund | +12.1% | +72.7% | +63.5% | +120% | 1/5 short-term, 1/3 long-term |  | 0.72 |
| [SCHF](https://easycompare.io/research/schf): Schwab International Equity ETF | +17.3% | +80.9% | +57.7% | +155% | 0/5 short-term, 1/3 long-term |  | 0.63 |
| EFAV: iShares MSCI EAFE Min Vol Factor ETF | +15.0% | +64.8% | +44.4% | +97.7% | 4/5 short-term, 0/3 long-term |  | 0.68 |
| IQLT: iShares MSCI Intl Quality Factor ETF | +14.7% | +65.9% | +45.4% | +155% | 3/5 short-term, 0/3 long-term |  | 0.54 |
| GSIE: Goldman Sachs ActiveBeta International Equity ETF | +14.6% | +74.2% | +51.3% | +144% | 3/5 short-term, 0/3 long-term |  | 0.60 |
| QEFA: State Street SPDR MSCI EAFE StrategicFactors ETF | +15.2% | +67.9% | +50.1% | +140% | 3/5 short-term, 0/3 long-term |  | 0.63 |
| DFIC: Dimensional - International Core Equity 2 ETF | +17.1% | +82.4% | — | — | 2/5 short-term, 0/3 long-term |  | — |
| [IEFA](https://easycompare.io/research/iefa): iShares Core MSCI EAFE ETF | +12.8% | +72.4% | +49.0% | +140% | 1/5 short-term, 0/3 long-term |  | 0.56 |
| [EFA](https://easycompare.io/research/efa): iShares MSCI EAFE ETF | +12.5% | +71.2% | +51.0% | +139% | 1/5 short-term, 0/3 long-term |  | 0.58 |
| EFG: iShares MSCI EAFE Growth ETF | +4.1% | +51.3% | +18.5% | +111% | 1/5 short-term, 0/3 long-term |  | 0.28 |
| VSS: Vanguard FTSE All-World ex-US Small-Cap ETF | +10.0% | +65.4% | +27.5% | +105% | 1/5 short-term, 0/3 long-term |  | 0.38 |
| DINT: Davis Select International ETF | +1.6% | +74.2% | +44.1% | — | 1/5 short-term, 0/3 long-term |  | 0.43 |
| IDEV: iShares Core MSCI International Developed Markets ETF | +13.8% | +75.7% | +51.5% | — | 1/5 short-term, 0/3 long-term |  | 0.59 |
| JIRE: JPMorgan International Research Enhanced Equity ETF | +12.6% | +69.6% | — | — | 1/5 short-term, 0/3 long-term |  | — |
| [SPDW](https://easycompare.io/research/spdw): State Street SPDR Portfolio Developed World ex-US ETF | +17.0% | +81.6% | +54.9% | +153% | 0/5 short-term, 0/3 long-term |  | 0.61 |
| [VXUS](https://easycompare.io/research/vxus): Vanguard Total International Stock ETF | +14.6% | +77.2% | +48.6% | +140% | 0/5 short-term, 0/3 long-term |  | 0.57 |
| [VWO](https://easycompare.io/research/vwo): Vanguard FTSE Emerging Markets ETF | +8.3% | +67.2% | +29.1% | +102% | 0/5 short-term, 0/3 long-term |  | 0.38 |

### How did VEA do year by year?

This table shows each investment's total return in every full calendar year since 2008, along with where VEA ranked among its popular alternatives each year.

- VEA finished ahead of the S&P 500 in five of its 18 full calendar years.
- Among its popular alternatives, VT came out ahead of VEA most often, in 12 of the 17 years both traded.
- Ranked against its popular alternatives each year, VEA finished in the top quarter in three of 18 years and in the bottom quarter in two. In 2025, it ranked 5 of 24.

| Year | VEA | SPY |
| --- | --- | --- |
| 2025 | +35.2% | +17.7% |
| 2024 | +3.1% | +24.9% |
| 2023 | +17.9% | +26.2% |
| 2022 | −15.3% | −18.2% |
| 2021 | +11.7% | +28.7% |
| 2020 | +9.7% | +18.3% |
| 2019 | +22.6% | +31.2% |
| 2018 | −14.8% | −4.6% |
| 2017 | +26.4% | +21.7% |
| 2016 | +2.6% | +12.0% |

## Risk and diversification

How VEA has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were VEA's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of VEA's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after VEA fell 60.7% from October 2007 to March 2009; it did not regain that peak until May 2014, five years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −60.7% | October 31, 2007 | March 9, 2009 | May 27, 2014 | −54.7% | 2008 financial crisis |
| −35.8% | January 26, 2018 | March 23, 2020 | November 16, 2020 | −18.8% | late-2018 sell-off |
| −29.7% | September 3, 2021 | September 27, 2022 | March 6, 2024 | −18.3% | 2022 bear market |
| −22.4% | May 21, 2015 | February 11, 2016 | April 25, 2017 | −13.0% | 2015 China and oil sell-off |
| −14.4% | July 3, 2014 | January 6, 2015 | May 14, 2015 | +1.8% |  |

### How did VEA do in stock market crashes?

This section measures how far VEA, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, EFAV held up best, falling less than VEA in all six crashes they both traded through.
- VEA fell less than the S&P 500 in four of the nine crashes it has traded through. The clearest case was the late-2018 sell-off, when VEA fell 17.1% and the S&P 500 fell 19.3%.

| Crash | Dates | VEA fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −60.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.2% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −23.1% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −19.9% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.9% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −17.1% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −34.1% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −28.8% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.5% | −3.4% |

### How closely does VEA move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- RODM took just 79% of the S&P 500's losses, against 96% for VEA, while still keeping 69% of its gains.
- Over the past 10 years, VEA captured 81% of the S&P 500's gains in rising months and 96% of its losses in falling months, with a beta of 0.86. Its share of the market's losses was larger than its share of the gains.
- Seven of the 18 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than VEA's 0.84, led by IVLU, VT and HDEF.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| VEA: Vanguard FTSE Developed Markets ETF (this page) | 81.0% | 96.0% | 0.86 |
| [VT](https://easycompare.io/research/vt): Vanguard Total World Stock ETF | 90.0% | 98.0% | 0.94 |
| IVLU: iShares MSCI Intl Value Factor ETF | 76.0% | 81.0% | 0.75 |
| EFV: iShares MSCI EAFE Value ETF | 75.0% | 84.0% | 0.76 |
| RODM: Hartford Multifactor Developed Markets (ex-US) ETF | 69.0% | 79.0% | 0.71 |
| HDEF: Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 64.0% | 71.0% | 0.66 |
| DWM: WisdomTree International Equity Fund | 70.0% | 85.0% | 0.74 |
| [SCHF](https://easycompare.io/research/schf): Schwab International Equity ETF | 79.0% | 93.0% | 0.84 |
| EFAV: iShares MSCI EAFE Min Vol Factor ETF | 52.0% | 62.0% | 0.52 |
| IQLT: iShares MSCI Intl Quality Factor ETF | 79.0% | 95.0% | 0.82 |
| GSIE: Goldman Sachs ActiveBeta International Equity ETF | 76.0% | 91.0% | 0.81 |
| QEFA: State Street SPDR MSCI EAFE StrategicFactors ETF | 70.0% | 82.0% | 0.71 |
| [IEFA](https://easycompare.io/research/iefa): iShares Core MSCI EAFE ETF | 77.0% | 94.0% | 0.82 |
| [EFA](https://easycompare.io/research/efa): iShares MSCI EAFE ETF | 76.0% | 92.0% | 0.81 |
| EFG: iShares MSCI EAFE Growth ETF | 78.0% | 104% | 0.87 |
| VSS: Vanguard FTSE All-World ex-US Small-Cap ETF | 80.0% | 107% | 0.94 |
| [SPDW](https://easycompare.io/research/spdw): State Street SPDR Portfolio Developed World ex-US ETF | 80.0% | 95.0% | 0.86 |
| [VXUS](https://easycompare.io/research/vxus): Vanguard Total International Stock ETF | 76.0% | 91.0% | 0.82 |
| [VWO](https://easycompare.io/research/vwo): Vanguard FTSE Emerging Markets ETF | 63.0% | 75.0% | 0.69 |

### What diversifies VEA?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in VEA into DBMF would have cut the portfolio's volatility by 23% over the past 5 years and raised its annual return (+10.3% for VEA alone, +10.7% for the mix).
- Among large ETFs, GLD, XLE and AMLP have moved largely independently of VEA over the past 5 years, with correlations of 0.46 or lower, and each still earned a positive 5-year return.
- CAH made money in four of the six calendar years in which VEA lost money.

| Investment | Correlation with VEA | 5Y return | Volatility | Sharpe | Rose in VEA's 6 down years |
| --- | --- | --- | --- | --- | --- |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.46 | +126% | 18.9% | 0.96 | 2 of 6 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.31 | +177% | 25.5% | 0.93 | 2 of 6 |
| AMLP: Alerian MLP ETF | 0.38 | +111% | 18.9% | 0.89 | 3 of 6 |
| DBMF: iMGP DBi Managed Futures Strategy ETF | -0.29 | +59.7% | 12.4% | 0.82 | 1 of 6 |
| DBA: Invesco DB Agriculture Fund | 0.21 | +66.4% | 13.8% | 0.81 | 2 of 6 |
| USO: United States Oil Fund, LP | -0.10 | +176% | 37.7% | 0.73 | 1 of 6 |
| FLSP: Franklin Systematic Style Premia ETF | 0.03 | +49.8% | 13.4% | 0.68 | 1 of 6 |
| PDBC: Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 0.09 | +73.9% | 19.3% | 0.67 | 1 of 6 |

## Common questions

### What was VEA's worst drawdown?

VEA's deepest decline since it began trading in 2007 was 60.7%, from October 2007 to March 2009. It took about five years from the low to climb back to its old high. Because VEA launched in July 2007, that record does not include the dot-com bust.

### What were VEA's best and worst years?

Over 18 full calendar years, VEA's best year was 2025, when it returned 35.2%. Its worst was 2008, with a return of -40.6%.

### Is there a better investment than VEA?

Among VEA's popular alternatives, EFV, RODM and HDEF earned more than VEA with less volatility over the past 5 years. EFV returned 13.6% a year at 15.9% volatility, against 9.3% a year at 16.9%. Looking beyond its popular alternatives, LVHI (international equity) and DBEF (international equity) earned more than VEA with less volatility over the past 5 years. LVHI returned 17.0% a year at 11.1% volatility, against 9.3% a year at 16.9%.

### Is VEA more volatile than the S&P 500?

No. VEA's volatility over the past 5 years was 16.9%, 1.0 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VEA's return lands within 16.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is VEA's Sharpe ratio?

VEA's Sharpe ratio over the past 5 years was 0.61, against 0.79 for the S&P 500, so VEA earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is VEA with the S&P 500?

Over the past 5 years, VEA's monthly returns had a correlation of 0.81 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against VEA instead: the lower it is, the more that option would diversify a VEA holding.

### What are the best alternatives to VEA?

Of the 25 popular alternatives we compared, five outperformed VEA in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SPY, VT and IVLU.

### Did VEA outperform the S&P 500?

VEA finished ahead of the S&P 500 (SPY) in five of 18 full calendar years. In 2025, it returned +35.2%, against +17.7% for the index.

### How did VEA do in stock market crashes?

VEA fell less than the S&P 500 (SPY) in four of the nine major crashes it has traded through, and further in four. The clearest case was the late-2018 sell-off, when VEA fell 17.1% and the S&P 500 fell 19.3%.

### What diversifies VEA?

These had a low correlation with VEA over the past 5 years and still earned a positive 5-year return: among large ETFs, GLD (correlation 0.46), XLE (correlation 0.31) and AMLP (correlation 0.38); among large stocks, CAH (correlation 0.32), CLS (correlation 0.28) and FIX (correlation 0.42). A correlation near zero means the two have moved largely independently.

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## Explore further

- Full page with charts: https://easycompare.io/research/vea
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against VEA live: https://betterthanspy.com/?b=VEA&utm_source=easycompare&utm_medium=research