# How Vanguard FTSE Europe ETF (VGK) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/vgk
> 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 VGK alone. It places VGK (Vanguard FTSE Europe 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 VGK stands in the market, and of the alternatives worth a closer look.

Period covered: VGK's full trading record, from March 2005 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:** Over the past 6 months, VGK fell 0.3% while the S&P 500 rose 9.1%.
- **Fund or market?:** VGK fell 0.3% 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:** VGK turned $10,000 into $25,000 over the past decade, against $42,100 in the S&P 500. VGK finished ahead of the S&P 500 in seven of its 20 calendar years.
- **In a crash:** VGK has tended to fall harder than the S&P 500 in crashes, about 1.3 times the index's decline.
- **Diversification:** Over 10 years, VGK's beta versus the S&P 500 was 0.89: in the S&P 500's rising months it gained 83% as much as the index, and in falling months it lost 1.0 times as much. When the S&P 500 had a down month, VGK usually fell with it (17 of 22 months).
- **Better options**
  - **Popular alternatives:** EWU (iShares MSCI United Kingdom ETF), HEDJ (WisdomTree Europe Hedged Equity Fund) and DBEU (Xtrackers MSCI Europe Hedged Equity ETF) earned more than VGK with less volatility over the past 5 years. EWU returned 11.4% a year at 16.4% volatility, against 8.4% a year at 17.9%.
  - **Nearby categories and themes:** DFIV (Dimensional - International Value ETF, international equity) and LVHI (Franklin International Low Volatility High Dividend Index ETF, international equity) earned more than VGK with less volatility over the past 5 years. DFIV returned 14.8% a year at 16.4% volatility, against 8.4% a year at 17.9%.
  - **Whole market:** 176 of the 3,633 stocks and funds worth at least $500 million earned more than VGK with less volatility over the past 5 years, among them VOO (Vanguard S&P 500 ETF), IVV (iShares Core S&P 500 ETF) and KO (Coca-Cola).

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

This chart tracks a hypothetical $10,000 investment in VGK over the past 21 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VGK over the same span and VGK's popular alternatives, among those that traded for the entire period.

- $10,000 invested in VGK at the end of September 2005 would have grown to $35,679 by September 2026, less than the $90,973 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of VGK, and BRK-B finished highest, at $91,163.

## VGK 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.

- VGK's deepest decline since it began trading in 2005 was 63.6%, from October 2007 to March 2009. It took about five years from the low to climb back to its old high.
- Over 20 full calendar years, VGK's best was 2025, when it returned 35.8%, and its worst was 2008, when it lost 44.6%. It lost money in seven of those years.
- VGK is 6.2% below its all-time high.

- Type: ETF, International (Asset Management - Global)
- Trading since: March 10, 2005
- Assets: $37B
- Expense ratio: 0.06%
- Volatility (5 years): 17.9%; Sharpe ratio: 0.54
- Worst decline ever: −63.6%, from October 31, 2007 to March 9, 2009; back at its high by April 9, 2014

| Period | VGK total return |
| --- | --- |
| 1 month | −2.3% |
| 3 months | −0.3% |
| 6 months | −0.3% |
| year to date | +5.3% |
| 1 year | +10.7% |
| 3 years | +70.9% |
| 5 years | +49.6% |
| 10 years | +150% |

## VGK against the whole market

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

### How does VGK rank among all ETFs?

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

- VGK lands in the broad middle of the market on every measure here. VGK's 3-year return ranks in the top 39% of the 1,949 ETFs with at least $100 million in assets with 3 years of history.

| Measure | VGK | Rank |
| --- | --- | --- |
| 1-year return | +10.7% | 1,208 of 2,485 (top 49%) |
| 3-year return | +70.9% | 761 of 1,949 (top 40%) |
| 5-year return | +49.6% | 683 of 1,560 (top 44%) |
| 10-year return | +150% | 471 of 958 (top 50%) |
| Volatility, 5 years | 17.9% | 946 of 1,560 (top 61%) |
| Sharpe ratio, 5 years | 0.54 | 841 of 1,560 (top 54%) |
| Worst decline, past 10 years | −37.2% | 447 of 951 (top 48%) |

### What has beaten VGK 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).

- One stock and 175 ETFs worth at least $500 million sit in the green region: each earned more than VGK over the past 5 years with smaller price swings. That is 5% of the 3,633 screened.
- Among those with at least half VGK's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 38% less than VGK's 17.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.54 for VGK.
- Among VGK's popular alternatives, DBEU, EWU and HEDJ are in the region. DBEU earned 11.2% a year against 8.4% a year for VGK, at 14.4% volatility, 20% less than VGK's 17.9%.

### Is there a better investment than VGK?

The table below lists investments that beat VGK 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 VGK's popular alternatives, EWU, HEDJ and DBEU earned more than VGK with less volatility over the past 5 years. EWU returned 11.4% a year at 16.4% volatility, against 8.4% a year at 17.9%.
- Looking beyond its popular alternatives, DFIV (international equity) and LVHI (international equity) earned more than VGK with less volatility over the past 5 years. DFIV returned 14.8% a year at 16.4% volatility, against 8.4% a year at 17.9%.
- Across the whole market, 176 of the 3,633 stocks and funds worth at least $500 million earned more than VGK with less volatility over the past 5 years, among them VOO, IVV and KO.

The 15 strongest of 176 investments that beat VGK 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 VGK | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| VGK: Vanguard FTSE Europe ETF (this page) |  | +8.4% | 17.9% | 0.54 | −37.2% | +150% |  |  |
| FTLS: First Trust Long/Short Equity ETF | Broad Market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.70 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| PTLC: Pacer Trendpilot US Large Cap ETF | Broad Market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.47 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| PTNQ: Pacer Trendpilot 100 ETF | Technology | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.43 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | US Dividend Equity | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.83 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [DFAC](https://easycompare.io/research/dfac): Dimensional - US Core Equity 2 ETF | US Total Market | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.79 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| AVLV: Avantis U.S. Large Cap Value ETF | US Large-Cap Value | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.78 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| SPHQ: Invesco S&P 500 Quality ETF | US Quality Equity | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.80 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| DFIV: Dimensional - International Value ETF | International Equity | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.92 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| USMC: Principal U.S. Mega-Cap ETF | Broad Market | +14.1% | 16.4% | 0.89 | −30.0% | — | 0.72 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| HDV: iShares Core High Dividend ETF | US Dividend Equity | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.70 | Higher return, lower volatility; Higher return in most periods; Smaller losses in recent crashes |
| DFAI: Dimensional - International Core Equity Market ETF | Developed International Equity | +9.7% | 16.0% | 0.66 | −27.4% | — | 0.98 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| DIVI: Franklin International Core Dividend Tilt Index ETF | International | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.95 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.77 | Higher return, lower volatility; Higher return in most periods |
| QDPL: Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF | Dividend & Income | +11.8% | 15.0% | 0.82 | −22.6% | — | 0.75 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FFLC: Fidelity Fundamental Large Cap Core ETF | Broad Market | +15.7% | 16.8% | 0.95 | −19.7% | — | 0.75 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## VGK against its popular alternatives

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

### How do VGK'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.

- Five of the 20 popular alternatives, led by EWU, DBEU and HEDJ, were both more rewarding and calmer than VGK over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, VGK returned 8.4% a year, less than the S&P 500's 12.7%, with higher volatility (17.9% against 17.1%).

### Has VGK consistently beaten its popular alternatives?

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

- Seven of the 22 popular alternatives, led by SPY, EWP and DBEU, outperformed VGK in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SPY outperformed VGK in every long-term period and in all but one short-term period, the most consistent record in the group.
- DBEU, SPY and VEA earned more for the risk they took than VGK (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 VGK | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| VGK: Vanguard FTSE Europe ETF (this page) | +10.7% | +70.9% | +49.6% | +150% |  |  | 0.54 |
| [SPY](https://easycompare.io/research/spy): State Street SPDR S&P 500 ETF | +15.8% | +89.3% | +81.7% | +321% | 5/5 short-term, 3/3 long-term | all-weather | 0.79 |
| EWP: iShares MSCI Spain ETF | +19.8% | +141% | +140% | +196% | 3/5 short-term, 3/3 long-term | consistent | 0.97 |
| DBEU: Xtrackers MSCI Europe Hedged Equity ETF | +15.3% | +64.8% | +70.1% | +178% | 5/5 short-term, 2/3 long-term | consistent | 0.82 |
| EWU: iShares MSCI United Kingdom ETF | +17.1% | +74.1% | +71.5% | +130% | 5/5 short-term, 2/3 long-term | consistent | 0.74 |
| [VEA](https://easycompare.io/research/vea): Vanguard FTSE Developed Markets ETF | +17.0% | +81.0% | +55.9% | +153% | 4/5 short-term, 2/3 long-term | consistent | 0.61 |
| VPL: Vanguard FTSE Pacific ETF | +24.0% | +87.4% | +57.3% | +141% | 4/5 short-term, 2/3 long-term | consistent | 0.58 |
| EWN: iShares MSCI Netherlands ETF | +15.8% | +94.1% | +41.9% | +229% | 3/5 short-term, 2/3 long-term | consistent | 0.42 |
| FEP: First Trust Europe AlphaDEX Fund | +14.8% | +102% | +55.4% | +166% | 2/5 short-term, 3/3 long-term |  | 0.55 |
| EWI: iShares MSCI Italy ETF | +12.9% | +110% | +101% | +247% | 1/5 short-term, 3/3 long-term |  | 0.77 |
| FEZ: State Street SPDR EURO STOXX 50 ETF | +6.3% | +74.7% | +62.0% | +164% | 0/5 short-term, 3/3 long-term |  | 0.57 |
| HEDJ: WisdomTree Europe Hedged Equity Fund | +8.1% | +55.1% | +63.6% | +158% | 2/5 short-term, 2/3 long-term |  | 0.67 |
| EZU: iShares MSCI Eurozone ETF | +7.2% | +75.7% | +51.9% | +149% | 0/5 short-term, 2/3 long-term |  | 0.52 |
| EWL: iShares MSCI Switzerland ETF | +11.2% | +57.6% | +41.9% | +160% | 5/5 short-term, 1/3 long-term |  | 0.51 |
| ENOR: iShares MSCI Norway ETF | +35.6% | +89.1% | +43.8% | +144% | 5/5 short-term, 1/3 long-term |  | 0.44 |
| [VXUS](https://easycompare.io/research/vxus): Vanguard Total International Stock ETF | +14.6% | +77.2% | +48.6% | +140% | 4/5 short-term, 1/3 long-term |  | 0.57 |
| EEM: iShares MSCI Emerging Markets ETF | +17.6% | +84.9% | +35.7% | +110% | 3/5 short-term, 1/3 long-term |  | 0.41 |
| EFNL: iShares MSCI Finland ETF | +17.7% | +84.5% | +26.6% | +121% | 1/5 short-term, 1/3 long-term |  | 0.34 |
| EWG: iShares MSCI Germany ETF | +0.9% | +74.7% | +39.7% | +103% | 1/5 short-term, 1/3 long-term |  | 0.43 |
| IEV: iShares Europe ETF | +10.2% | +67.8% | +51.8% | +144% | 0/5 short-term, 1/3 long-term |  | 0.56 |
| SPEU: State Street SPDR Portfolio Europe ETF | +10.5% | +70.3% | +48.4% | +149% | 0/5 short-term, 0/3 long-term |  | 0.54 |
| IEUR: iShares Core MSCI Europe ETF | +10.4% | +69.8% | +48.6% | +147% | 0/5 short-term, 0/3 long-term |  | 0.54 |
| EWQ: iShares MSCI France ETF | −4.6% | +34.3% | +28.0% | +128% | 0/5 short-term, 0/3 long-term |  | 0.35 |

### How did VGK do year by year?

This table shows each investment's total return in every full calendar year since 2006, along with where VGK ranked among its popular alternatives each year.

- VGK finished ahead of the S&P 500 in seven of its 20 full calendar years.
- Among its popular alternatives, DBEU came out ahead of VGK most often, in eight of the 12 years both traded.
- Ranked against its popular alternatives each year, VGK finished in the top quarter in no of 20 years and in the bottom quarter in no. In 2025, it ranked 7 of 21.

| Year | VGK | SPY |
| --- | --- | --- |
| 2025 | +35.8% | +17.7% |
| 2024 | +1.9% | +24.9% |
| 2023 | +20.2% | +26.2% |
| 2022 | −16.0% | −18.2% |
| 2021 | +16.9% | +28.7% |
| 2020 | +5.5% | +18.3% |
| 2019 | +24.9% | +31.2% |
| 2018 | −14.9% | −4.6% |
| 2017 | +27.0% | +21.7% |
| 2016 | −0.4% | +12.0% |

## Risk and diversification

How VGK 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 VGK's worst declines?

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

- In all five of VGK's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: VGK fell 24.9% from July 2014 to February 2016, while the S&P 500 slipped only 4.9%.
- The slowest recovery came after VGK fell 63.6% from October 2007 to March 2009; it did not regain that peak until April 2014, five years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −63.6% | October 31, 2007 | March 9, 2009 | April 9, 2014 | −54.7% | 2008 financial crisis |
| −37.2% | January 26, 2018 | March 18, 2020 | November 24, 2020 | −13.1% | late-2018 sell-off |
| −32.8% | September 2, 2021 | September 27, 2022 | February 22, 2024 | −18.3% | 2022 bear market |
| −24.9% | July 3, 2014 | February 11, 2016 | May 16, 2017 | −4.9% | 2015 China and oil sell-off |
| −14.3% | March 18, 2025 | April 8, 2025 | May 2, 2025 | −11.2% |  |

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

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

- Among its popular alternatives, VPL held up best, falling less than VGK in seven of the nine crashes they both traded through.
- VGK began trading after the dot-com bust, but seven of its popular alternatives lived through it. The mildest fall among them was EWU's 41.6%, against 47.5% for the S&P 500.
- VGK fell further than the S&P 500 in five of the nine crashes it has traded through. The clearest case was the 2008 financial crisis, when VGK fell 63.6% and the S&P 500 fell 55.2%.

| Crash | Dates | VGK 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 | −63.6% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.7% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −25.6% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −21.0% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.6% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −17.3% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −36.6% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −32.3% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.5% | −3.4% |

### How closely does VGK 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.

- 14 of the 20 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than VGK's 0.80, led by DBEU, EWP and EWI.
- DBEU took just 69% of the S&P 500's losses, against 104% for VGK, while still keeping 70% of its gains.
- Over the past 10 years, VGK captured 83% of the S&P 500's gains in rising months and 104% of its losses in falling months, with a beta of 0.89. Its share of the market's losses was larger than its share of the gains.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| VGK: Vanguard FTSE Europe ETF (this page) | 83.0% | 104% | 0.89 |
| EWP: iShares MSCI Spain ETF | 81.0% | 83.0% | 0.81 |
| DBEU: Xtrackers MSCI Europe Hedged Equity ETF | 70.0% | 69.0% | 0.69 |
| EWU: iShares MSCI United Kingdom ETF | 71.0% | 89.0% | 0.75 |
| [VEA](https://easycompare.io/research/vea): Vanguard FTSE Developed Markets ETF | 81.0% | 96.0% | 0.86 |
| VPL: Vanguard FTSE Pacific ETF | 75.0% | 85.0% | 0.79 |
| EWN: iShares MSCI Netherlands ETF | 99.0% | 112% | 1.05 |
| FEP: First Trust Europe AlphaDEX Fund | 90.0% | 113% | 1.00 |
| EWI: iShares MSCI Italy ETF | 95.0% | 98.0% | 0.95 |
| FEZ: State Street SPDR EURO STOXX 50 ETF | 91.0% | 111% | 0.97 |
| HEDJ: WisdomTree Europe Hedged Equity Fund | 76.0% | 85.0% | 0.81 |
| EZU: iShares MSCI Eurozone ETF | 87.0% | 107% | 0.95 |
| EWL: iShares MSCI Switzerland ETF | 74.0% | 87.0% | 0.71 |
| ENOR: iShares MSCI Norway ETF | 85.0% | 109% | 0.96 |
| [VXUS](https://easycompare.io/research/vxus): Vanguard Total International Stock ETF | 76.0% | 91.0% | 0.82 |
| EEM: iShares MSCI Emerging Markets ETF | 70.0% | 84.0% | 0.77 |
| EFNL: iShares MSCI Finland ETF | 75.0% | 94.0% | 0.86 |
| EWG: iShares MSCI Germany ETF | 86.0% | 121% | 1.00 |
| IEV: iShares Europe ETF | 81.0% | 101% | 0.86 |
| SPEU: State Street SPDR Portfolio Europe ETF | 83.0% | 103% | 0.88 |
| EWQ: iShares MSCI France ETF | 83.0% | 106% | 0.92 |

### What diversifies VGK?

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 VGK into DBMF would have cut the portfolio's volatility by 24% over the past 5 years and raised its annual return (+9.2% for VGK alone, +9.9% for the mix).
- Among large ETFs, DXJ, GLD and XLE have moved largely independently of VGK over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.
- MPC made money in four of the seven calendar years in which VGK lost money.

| Investment | Correlation with VGK | 5Y return | Volatility | Sharpe | Rose in VGK's 7 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.48 | +225% | 19.1% | 1.34 | 4 of 7 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.41 | +126% | 18.9% | 0.96 | 3 of 7 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.32 | +177% | 25.5% | 0.93 | 3 of 7 |
| AMLP: Alerian MLP ETF | 0.39 | +111% | 18.9% | 0.89 | 4 of 7 |
| PTLC: Pacer Trendpilot US Large Cap ETF | 0.47 | +57.4% | 11.8% | 0.83 | 2 of 7 |
| DBMF: iMGP DBi Managed Futures Strategy ETF | -0.34 | +59.7% | 12.4% | 0.82 | 1 of 7 |
| DBA: Invesco DB Agriculture Fund | 0.21 | +66.4% | 13.8% | 0.81 | 2 of 7 |
| RING: iShares MSCI Global Gold Miners ETF | 0.49 | +201% | 38.2% | 0.77 | 1 of 7 |

## Common questions

### What was VGK's worst drawdown?

VGK's deepest decline since it began trading in 2005 was 63.6%, from October 2007 to March 2009. It took about five years from the low to climb back to its old high. Because VGK launched in March 2005, that record does not include the dot-com bust.

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

Over 20 full calendar years, VGK's best year was 2025, when it returned 35.8%. Its worst was 2008, with a return of -44.6%.

### Is there a better investment than VGK?

Among VGK's popular alternatives, EWU, HEDJ and DBEU earned more than VGK with less volatility over the past 5 years. EWU returned 11.4% a year at 16.4% volatility, against 8.4% a year at 17.9%. Looking beyond its popular alternatives, DFIV (international equity) and LVHI (international equity) earned more than VGK with less volatility over the past 5 years. DFIV returned 14.8% a year at 16.4% volatility, against 8.4% a year at 17.9%.

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

Yes. VGK's volatility over the past 5 years was 17.9%, 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, VGK's return lands within 17.9% 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 VGK's Sharpe ratio?

VGK's Sharpe ratio over the past 5 years was 0.54, against 0.79 for the S&P 500, so VGK 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 VGK with the S&P 500?

Over the past 5 years, VGK's monthly returns had a correlation of 0.77 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against VGK instead: the lower it is, the more that option would diversify a VGK holding.

### What are the best alternatives to VGK?

Of the 22 popular alternatives we compared, seven outperformed VGK in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SPY, EWP and DBEU.

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

VGK finished ahead of the S&P 500 (SPY) in seven of 20 full calendar years. In 2025, it returned +35.8%, against +17.7% for the index.

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

VGK fell less than the S&P 500 (SPY) in four of the nine major crashes it has traded through, and further in five. The clearest case was the 2008 financial crisis, when VGK fell 63.6% and the S&P 500 fell 55.2%.

### What diversifies VGK?

These had a low correlation with VGK over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.48), GLD (correlation 0.41) and XLE (correlation 0.32); among large stocks, CAH (correlation 0.30), CLS (correlation 0.24) and FIX (correlation 0.36). A correlation near zero means the two have moved largely independently.

## More research

- [State Street SPDR S&P 500 ETF (SPY) Performance, Alternatives and Market Rank](https://easycompare.io/research/spy)
- [Vanguard FTSE Developed Markets ETF (VEA) Performance, Alternatives and Market Rank](https://easycompare.io/research/vea)
- [Vanguard Total International Stock ETF (VXUS) Performance, Alternatives and Market Rank](https://easycompare.io/research/vxus)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)
- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)
- [Vanguard Morningstar Total Stock Market ETF (VTI) Performance, Alternatives and Market Rank](https://easycompare.io/research/vti)
- [Taiwan Semiconductor Manufacturing (TSM) Performance, Alternatives and Market Rank](https://easycompare.io/research/tsm)
- [Space Exploration Technologies (SPCX) Performance, Alternatives and Market Rank](https://easycompare.io/research/spcx)

## Explore further

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