Relative Intelligence · International Equity
How Vanguard Total International Stock ETF (VXUS) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on VXUS alone. It places VXUS (Vanguard Total International Stock 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 VXUS stands in the market, and of the alternatives worth a closer look.
Period covered: VXUS's full trading record, from January 2011 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.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowVXUS has trailed the market, rising 0.9% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. At a glance ↓
- Fund or market?VXUS rose 1.0% over the past 3 months, 2.9 points behind the S&P 500, which rose 3.9%.
- Long termVXUS turned $10,000 into $24,000 over the past decade, against $42,100 in the S&P 500. Growth of $10,000 ↓
- In a crashAcross five sell-offs, VXUS has typically fallen 1.2 times as far as the S&P 500. On the flip side, in the 2022 bear market, VXUS held up better than IEMG (iShares Core MSCI Emerging Markets ETF) and EEM; only FNDF (Schwab Fundamental International Large Company Index ETF) and DFAI fell less. Crash tests ↓
- DiversificationAgainst the S&P 500, VXUS has a correlation of 0.80 over 5 years, more closely than 63% of ETFs with at least $100 million in assets. Next to an index fund it is some diversification, but not a hedge. VXUS fell in 18 of the 22 months the S&P 500 fell over the past 5 years: it usually fell with it. By year ↓
- Better options
- Popular alternatives
- VTI (Vanguard Morningstar Total Stock Market ETF) and FNDF (Schwab Fundamental International Large Company Index ETF) earned more than VXUS over the past 5 years with similar volatility: VTI returned 11.5% a year at 17.5% volatility, against 8.2% a year at 16.4%.
- Same exposure, lower fee
- A cheaper fund that has kept up over the past decade is VEA (Vanguard FTSE Developed Markets ETF, 0.03% a year against 0.05%).
- 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 VXUS with less volatility over the past 5 years. LVHI returned 17.0% a year at 11.1% volatility, against 8.2% a year at 16.4%.
How much would $10,000 in VXUS have grown?
This chart tracks a hypothetical $10,000 investment in VXUS over the past 15 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VXUS over the same span and VXUS's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
Note: VXUS began trading on January 28, 2011, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or the 2010 flash crash. It covers the most recent 15 years of VXUS's record, starting at the end of September 2011.
- $10,000 invested in VXUS at the end of September 2011 would have grown to $33,448 by September 2026, less than the $87,526 it would have become in SPY, an S&P 500 fund.
- Six of the eight other investments on the chart ended ahead of VXUS, and VTI finished highest, at $83,876.
Choose a period
From the end of September 2011 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,387 of the 2,130 stocks and funds worth at least $500 million that traded the whole period ended ahead of VXUS; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- SPY (S&P 500)$87,526+775% total · +15.6% a year
- VTI$83,876+739% total · +15.2% a year
- VT$54,714+447% total · +12.0% a year
- SCHF$36,480+265% total · +9.0% a year
- SPDW$36,356+264% total · +9.0% a year
- VEU$34,145+241% total · +8.5% a year
- EFA$34,063+241% total · +8.5% a year
- VXUS$33,448+234% total · +8.4% a year
- ACWX$32,482+225% total · +8.2% a year
- EEM$26,264+163% total · +6.6% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,437 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of VXUS; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- FNDF$19,446+94.5% total · +14.2% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- VTI$18,064+80.6% total · +12.6% a year
- VT$17,117+71.2% total · +11.3% a year
- AVEM$16,885+68.8% total · +11.0% a year
- AVDE$16,780+67.8% total · +10.9% a year
- DFAX$16,585+65.9% total · +10.6% a year
- SCHF$16,548+65.5% total · +10.6% a year
- SPDW$16,223+62.2% total · +10.2% a year
- VXUS$15,652+56.5% total · +9.4% a year
VXUS 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. These figures serve as the baseline for every comparison that follows.
Note: VXUS began trading on January 28, 2011, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or the 2010 flash crash.
- VXUS's deepest decline since it began trading in 2011 was 36.0%, from January 2018 to March 2020. It took eight months from the low to climb back to its old high.
- Over 14 full calendar years, VXUS's best was 2025, when it returned 32.3%, and its worst was 2022, when it lost 16.1%. It lost money in four of those years.
- VXUS is 5.1% below its all-time high.
The fund
- Issuer
- Vanguard
- Began trading
- January 2011
- Expense ratio
- 0.05%per year
- Assets
- $666B
- Category
- International
Returns
- Past 1 year
- +14.6%total return
- Past 3 years
- +77.2%+21.0% a year
- Past 5 years
- +48.6%+8.2% a year
- Past 10 years
- +140%+9.1% a year
- Best calendar year
- +32.3%2025
- Worst calendar year
- −16.1%2022
- Losing years
- 4 of 14full calendar years
Risk
- Volatility
- 16.4%typical yearly swing, 5 years
- Sharpe ratio
- 0.57return per unit of risk, 5 years
- Worst decline ever
- −36.0%Jan 2018 to Mar 2020
- From its all-time high
- −5.1%below the peak
VXUS against the whole market
Where VXUS ranks among every stock and fund, and what across the market has done better.
How does VXUS rank among all ETFs?
This section ranks VXUS on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how VXUS stacks up against its peers, these rankings show where it stands in the market as a whole.
- VXUS lands in the broad middle of the market on every measure here. VXUS's 3-year return ranks in the top 32% of the 1,949 ETFs with at least $100 million in assets with 3 years of history.
Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.
| Measure | VXUS | Rank | Standing |
|---|---|---|---|
| 1-year return | +14.6% | 868 of 2,485 | top 35% |
| 3-year return | +77.2% | 630 of 1,949 | top 32% |
| 5-year return | +48.6% | 701 of 1,560 | top 45% |
| 10-year return | +140% | 518 of 958 | bottom 47% |
| Volatility, 5 years | 16.4% | 742 of 1,560 | top 48% |
| Sharpe ratio, 5 years | 0.57 | 783 of 1,560 | top 50% |
| Worst decline, past 10 years | −36.0% | 391 of 951 | top 41% |
What has beaten VXUS 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). VXUS sits where the dashed lines cross. Anything in the green box above and to the left earned more than VXUS with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.
- 101 ETFs worth at least $500 million sit in the green region: each earned more than VXUS over the past 5 years with smaller price swings. That is 3% of the 3,633 screened.
- Among those with at least half VXUS's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 32% less than VXUS's 16.4%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.57 for VXUS.
- None of VXUS's popular alternatives made it, but LVHI (international equity) did: 17.0% a year at 11.1% volatility, 32% less than VXUS's 16.4%.
Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to VXUS; faint dots are 44 more of the 101 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than VXUS?
Investments that beat VXUS over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among VXUS's popular alternatives, VTI and FNDF earned more than VXUS over the past 5 years with similar volatility: VTI returned 11.5% a year at 17.5% volatility, against 8.2% a year at 16.4%.
- A cheaper fund that has kept up over the past decade is VEA (0.03% a year against 0.05%).
- Looking beyond its popular alternatives, LVHI (international equity) and DBEF (international equity) earned more than VXUS with less volatility over the past 5 years. LVHI returned 17.0% a year at 11.1% volatility, against 8.2% a year at 16.4%.
How this works
The table below lists investments that beat VXUS 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. It checks VXUS's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than VXUS follows the table.
Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than VXUS's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× VXUS's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than VXUS's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with VXUS?lower diversifies more | Expenseper year | |||
| VXUSVanguard Total International Stock ETF · this page | +8.2% | 16.4% | 0.57 | −36.0% | +140% | 1.00 | 0.05% | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.80 | 0.09% | ||
| Popular alternativesbest 5 shownThe investments people most often weigh against VXUS. 9 of 22 passed at least one test. | |||||||||
 SCHFSchwab International Equity ETF · Developed International Equity | Higher return in most periodsSame exposure, lower expense ratio | +9.5% | 16.8% | 0.63 | −34.9% | +155% | 0.99 | 0.03% | |
 VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Higher return, similar volatilityHigher return in most periods | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.80 | 0.03% | |
FNDFSchwab Fundamental International Large Company Index ETF · International Equity | Higher return, similar volatilityHigher return in most periods | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.96 | 0.25% | |
 VTVanguard Total World Stock ETF · Global Equity | Higher return in most periods | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.92 | 0.06% | |
AVEMAvantis Emerging Markets Equity ETF · Emerging Markets Equity | Higher return in most periods | +9.3% | 19.5% | 0.56 | −36.0% | — | 0.90 | 0.33% | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in International Equity and the categories next to it (Developed International Equity, Emerging Markets Equity), plus VXUS's specific themes. 19 of 45 passed at least one test. | |||||||||
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | On the frontierHigher return, lower volatilityHigher return in most periods | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.76 | 0.40% | |
DFIVDimensional - International Value ETF · International Equity | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.89 | 0.27% | |
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Higher return, lower volatilityHigher return in most periods | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.87 | 0.35% | |
AVDVAvantis International Small Cap Value ETF · International Equity | Higher return, similar volatilityHigher return in most periods | +13.9% | 17.4% | 0.84 | −43.0% | — | 0.93 | 0.36% | |
BBCAJPMorgan BetaBuilders Canada ETF · International Equity | Higher return, similar volatilityHigher return in most periods | +11.4% | 16.7% | 0.73 | −42.8% | — | 0.87 | 0.19% | |
EFAViShares MSCI EAFE Min Vol Factor ETF · International Equity | Similar return, lower volatilityHigher Sharpe, smaller worst decline | +7.6% | 11.9% | 0.68 | −27.6% | +97.7% | 0.84 | 0.20% | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 389 of 3,566 passed at least one test. | |||||||||
FTLSFirst Trust Long/Short Equity ETF · Broad Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.71 | 0.95% | |
PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.54 | 0.60% | |
PTNQPacer Trendpilot 100 ETF · Technology | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.55 | 0.65% | |
 BRK-BBerkshire Hathaway Inc. · Insurance | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.48 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.31 | — | |
DIVIFranklin International Core Dividend Tilt Index ETF · International | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.95 | 0.09% | |
 GLDSPDR Gold Shares · Gold | Higher Sharpe, smaller worst declineSmaller losses in recent crashes | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.48 | 0.40% | |
 JEPIJPMorgan Equity Premium Income ETF · Equity Income | Similar return, lower volatilityHigher Sharpe, smaller worst decline | +7.5% | 11.0% | 0.71 | −13.7% | — | 0.75 | 0.35% | |
What these numbers mean for VXUS
- Annual return
- VXUS returned 8.2% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $14,900. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
- Volatility
- VXUS's volatility over the past 5 years was 16.4%, 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, VXUS's return lands within 16.4% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
- Sharpe ratio
- VXUS's Sharpe ratio over the past 5 years was 0.57, against 0.79 for the S&P 500, so VXUS 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. Guide: Balancing reward with risk (Sharpe ratio) →
- Worst decline
- VXUS's worst fall from a peak to a low over the past 10 years was 36.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 36.0% fall takes a 56.2% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, VXUS's monthly returns had a correlation of 0.80 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 VXUS instead: the lower it is, the more that option would diversify a VXUS holding. Guide: Correlation and diversification →
Show all 101 stocks and funds worth at least $500 million that earned more than VXUS with less volatility
Out of 3,633 tested over 5 years. The strongest 50 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with VXUS | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.71 | 0.95% |
| 2 | PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Whole market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.54 | 0.60% |
| 3 | PTNQPacer Trendpilot 100 ETF · Technology | Whole market | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.55 | 0.65% |
| 4 | DIVIFranklin International Core Dividend Tilt Index ETF · International | Whole market | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.95 | 0.09% |
| 5 | QDPLPacer Metaurus US Large Cap Dividend Multiplier 400 ETF · Dividend & Income | Whole market | +11.8% | 15.0% | 0.82 | −22.6% | — | 0.79 | 0.60% |
| 6 | SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market | Whole market | +12.8% | 12.7% | 1.01 | −18.4% | — | 0.81 | 0.31% |
| 7 |  VTVVanguard Morningstar Value ETF · US Large-Cap Value | Whole market | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.81 | 0.03% |
| 8 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Same or nearby category | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.76 | 0.40% |
| 9 |  VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.82 | 0.04% |
| 10 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.72 | 0.06% |
| 11 | PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value | Whole market | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.79 | 0.56% |
| 12 | HDViShares Core High Dividend ETF · US Dividend Equity | Whole market | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.66 | 0.08% |
| 13 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Whole market | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.81 | 0.39% |
| 14 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.77 | 0.79% |
| 15 | FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | Whole market | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.78 | 0.85% |
| 16 | FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity | Whole market | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.65 | 0.43% |
| 17 | EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure | Whole market | +14.9% | 14.5% | 1.04 | −43.6% | +150% | 0.59 | 0.95% |
| 18 | VYMIVanguard International High Dividend Yield ETF · International Equity | Same or nearby category | +13.2% | 14.8% | 0.92 | −40.0% | +176% | 0.93 | 0.07% |
| 19 | GCOWPacer Global Cash Cows Dividend ETF · International | Whole market | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.78 | 0.60% |
| 20 | IWXiShares Russell Top 200 Value ETF · Broad Market | Whole market | +12.7% | 13.8% | 0.94 | −35.8% | +221% | 0.82 | 0.20% |
| 21 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Same or nearby category | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.87 | 0.35% |
| 22 | EQWLInvesco S&P 100 Equal Weight ETF · Broad Market | Whole market | +11.6% | 15.0% | 0.81 | −34.3% | +291% | 0.86 | 0.30% |
| 23 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.81 | 0.10% |
| 24 | DIVBiShares Core Dividend ETF · Dividend & Income | Whole market | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.81 | 0.05% |
| 25 | HFXINYLI FTSE International Equity Currency Neutral ETF · International | Whole market | +11.4% | 15.3% | 0.79 | −32.4% | +180% | 0.96 | 0.19% |
| 26 | DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income | Whole market | +11.1% | 11.9% | 0.95 | −30.0% | — | 0.74 | 0.56% |
| 27 | DHSWisdomTree U.S. High Dividend Fund · Dividend & Income | Whole market | +12.0% | 13.9% | 0.89 | −37.4% | +156% | 0.67 | 0.38% |
| 28 | RODMHartford Multifactor Developed Markets (ex-US) ETF · International | Whole market | +10.6% | 13.5% | 0.82 | −36.0% | +141% | 0.94 | 0.29% |
| 29 | FGDFirst Trust Dow Jones Global Select Dividend Index Fund · International | Whole market | +11.6% | 14.8% | 0.82 | −44.8% | +155% | 0.88 | 0.55% |
| 30 | FDLOFidelity Low Volatility Factor ETF · Broad Market | Whole market | +9.8% | 13.0% | 0.79 | −34.4% | +249% | 0.76 | 0.15% |
| 31 | DBMFiMGP DBi Managed Futures Strategy ETF · Alternatives | Whole market | +9.8% | 12.4% | 0.82 | −20.4% | — | -0.30 | 0.85% |
| 32 | EQLALPS Equal Sector Weight ETF · Broad Market | Whole market | +13.5% | 14.5% | 0.94 | −34.2% | +387% | 0.83 | 0.19% |
| 33 | ROUSHartford Multifactor US Equity ETF · Broad Market | Whole market | +12.3% | 14.4% | 0.88 | −35.5% | +238% | 0.82 | 0.19% |
| 34 | FDRRFidelity Dividend ETF for Rising Rates · Dividend & Income | Whole market | +12.6% | 15.0% | 0.87 | −36.5% | +265% | 0.81 | 0.15% |
| 35 | DGTState Street SPDR Global Dow ETF · International | Whole market | +13.8% | 15.1% | 0.94 | −34.4% | +261% | 0.94 | 0.50% |
| 36 | DBEUXtrackers MSCI Europe Hedged Equity ETF · International | Whole market | +11.2% | 14.4% | 0.82 | −34.5% | +178% | 0.84 | 0.46% |
| 37 | QDEFNorthern Trust Quality Dividend Defensive ETF · Dividend & Income | Whole market | +12.7% | 13.7% | 0.94 | −35.7% | +228% | 0.82 | 0.40% |
| 38 | OUSAALPS Funds O’Shares U.S. Quality Dividend ETF · Dividend & Income | Whole market | +9.4% | 13.4% | 0.74 | −33.1% | +186% | 0.79 | 0.48% |
| 39 | DJDInvesco Dow Jones Industrial Average Dividend ETF · Dividend & Income | Whole market | +11.8% | 13.3% | 0.91 | −34.7% | +227% | 0.76 | 0.07% |
| 40 | SCHYSchwab International Dividend Equity ETF · International | Whole market | +9.5% | 13.3% | 0.75 | −24.0% | — | 0.88 | 0.08% |
| 41 | TDVGT. Rowe Price Dividend Growth ETF · Dividend & Income | Whole market | +9.6% | 13.8% | 0.73 | −19.2% | — | 0.83 | 0.50% |
| 42 | FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income | Whole market | +11.5% | 14.8% | 0.82 | −19.4% | +121% | 0.69 | 0.75% |
| 43 | SSUSStrategy Shares Day Hagan Smart Sector ETF · Broad Market | Whole market | +10.5% | 15.4% | 0.73 | −23.8% | — | 0.79 | 0.77% |
| 44 | FDVVFidelity High Dividend ETF · US Dividend Equity | Whole market | +13.2% | 14.6% | 0.92 | −40.2% | +253% | 0.83 | 0.15% |
| 45 | IDViShares International Select Dividend ETF · International Equity | Same or nearby category | +12.8% | 15.5% | 0.86 | −42.5% | +159% | 0.87 | 0.50% |
| 46 | DDWMWisdomTree Dynamic International Equity Fund · International | Whole market | +12.3% | 13.4% | 0.94 | −35.0% | +149% | 0.93 | 0.40% |
| 47 | DEMWisdomTree Emerging Markets High Dividend Fund · International Equity | Same or nearby category | +9.6% | 15.5% | 0.67 | −37.8% | +133% | 0.88 | 0.63% |
| 48 | RLYState Street Multi-Asset Real Return ETF · Multi-Asset | Whole market | +9.9% | 13.3% | 0.78 | −34.2% | +128% | 0.71 | 0.50% |
| 49 | DBAInvesco DB Agriculture Fund · Alternatives | Whole market | +10.7% | 13.8% | 0.81 | −35.3% | +62.2% | 0.20 | 0.90% |
| 50 | AUSFGlobal X - Adaptive U.S. Factor ETF · International | Whole market | +13.2% | 13.6% | 0.99 | −44.2% | — | 0.67 | 0.27% |
See everything that outperformed VXUS →
VXUS against its popular alternatives
The investments people most often weigh against VXUS, compared period by period and year by year.
How do VXUS'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. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at VXUS, which divides the map into what did better or worse on each measure.
- Six of the 20 popular alternatives, led by FNDF, VT and AVDE, were both more rewarding and calmer than VXUS over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, VXUS returned 8.2% a year, less than the S&P 500's 12.7%, with lower volatility (16.4% against 17.1%).
Green points earned more than VXUS with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| FNDF Schwab Fundamental International Large Company Index ETF | +13.6% | 16.3% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| VTI Vanguard Morningstar Total Stock Market ETF | +11.5% | 17.5% |
| VT Vanguard Total World Stock ETF | +10.3% | 16.2% |
| AVDE Avantis International Equity ETF | +10.1% | 16.4% |
| DFAX Dimensional World ex U.S. Core Equity 2 ETF | +9.8% | 16.1% |
| DFAI Dimensional - International Core Equity Market ETF | +9.7% | 16.0% |
| SCHF Schwab International Equity ETF | +9.5% | 16.8% |
| AVEM Avantis Emerging Markets Equity ETF | +9.3% | 19.5% |
| SPDW State Street SPDR Portfolio Developed World ex-US ETF | +9.1% | 16.8% |
| IDEV iShares Core MSCI International Developed Markets ETF | +8.7% | 16.4% |
| EFA iShares MSCI EAFE ETF | +8.6% | 16.6% |
| VEU Vanguard FTSE All-World ex-US ETF | +8.6% | 16.4% |
| ACWX iShares MSCI ACWI ex U.S. ETF | +8.3% | 16.6% |
| IEFA iShares Core MSCI EAFE ETF | +8.3% | 16.6% |
| VXUS This pageVanguard Total International Stock ETF | +8.3% | 16.4% |
| IEMG iShares Core MSCI Emerging Markets ETF | +6.8% | 19.4% |
| EEM iShares MSCI Emerging Markets ETF | +6.3% | 20.0% |
| SPEM State Street SPDR Portfolio Emerging Markets ETF | +5.9% | 17.3% |
| VWO Vanguard FTSE Emerging Markets ETF | +5.2% | 17.5% |
| VSS Vanguard FTSE All-World ex-US Small-Cap ETF | +5.0% | 16.7% |
| BNDX Vanguard Total International Bond ETF | +0.2% | 4.9% |
Has VXUS consistently beaten its popular alternatives?
This section compares VXUS with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than VXUS helps separate lasting outperformance from a single strong stretch.
- Eight of the 23 popular alternatives, led by VTI, FNDF and VT, outperformed VXUS in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- VTI, FNDF and VT outperformed VXUS in every long-term period and in all but one short-term period, the most consistent record in the group.
- VTI, VT and DFAX earned more for the risk they took than VXUS (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than VXUS over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| VXUS Vanguard Total International Stock ETF (this page) | — | −3.9% | +1.0% | +0.9% | +10.2% | +14.6% | +77.2% | +48.6% | +140% | 16.4% | 0.57 | −36.0% | 0.05% | $666B | — |
| VTI QualifiedVanguard Morningstar Total Stock Market ETF | 5/5 short3/3 longAll-weather | −0.8% | +3.2% | +8.3% | +13.1% | +15.2% | +87.9% | +72.6% | +302% | 17.5% | 0.71 | −35.0% | 0.03% | $2.3T | 72% |
| FNDF QualifiedSchwab Fundamental International Large Company Index ETF | 5/5 short3/3 longAll-weather | −2.1% | +3.1% | +4.9% | +18.4% | +27.2% | +95.8% | +89.2% | +194% | 16.3% | 0.87 | −40.2% | 0.25% | $26B | 79% |
| VT QualifiedVanguard Total World Stock ETF | 4/5 short3/3 longAll-weather | −1.9% | +2.5% | +5.5% | +12.0% | +15.0% | +83.8% | +63.3% | +223% | 16.2% | 0.69 | −34.2% | 0.06% | $101B | 81% |
| SCHF QualifiedSchwab International Equity ETF | 3/5 short3/3 long | −3.8% | +0.7% | +1.7% | +11.7% | +17.3% | +80.9% | +57.7% | +155% | 16.8% | 0.63 | −34.9% | 0.03% | $68B | 90% |
| SPDW QualifiedState Street SPDR Portfolio Developed World ex-US ETF | 3/5 short3/3 long | −3.6% | +1.0% | +1.9% | +11.8% | +17.0% | +81.6% | +54.9% | +153% | 16.8% | 0.61 | −35.0% | 0.03% | $41B | 90% |
| AVDE QualifiedAvantis International Equity ETF | 3/5 short2/3 long | −2.6% | +1.9% | +0.9% | +10.2% | +16.4% | +83.7% | +61.8% | — | 16.4% | 0.67 | −37.0% | 0.23% | $19B | 82% |
| AVEM QualifiedAvantis Emerging Markets Equity ETF | 3/5 short2/3 long | −7.0% | +1.0% | +1.6% | +15.0% | +19.7% | +91.0% | +56.1% | — | 19.5% | 0.56 | −36.0% | 0.33% | $27B | 81% |
| DFAX QualifiedDimensional World ex U.S. Core Equity 2 ETF | 3/5 short2/3 long | −3.6% | +2.3% | +1.1% | +12.0% | +17.9% | +82.8% | +59.3% | — | 16.1% | 0.66 | −28.1% | 0.28% | $12B | 89% |
| VEA InternationalVanguard FTSE Developed Markets ETF | 2/5 short3/3 long | −3.5% | +1.0% | +1.4% | +11.5% | +17.0% | +81.0% | +55.9% | +153% | 16.9% | 0.61 | −35.8% | 0.03% | $314B | 91% |
| DFAI InternationalDimensional - International Core Equity Market ETF | 4/5 short1/3 long | −1.7% | +1.9% | +1.7% | +10.1% | +15.8% | +78.5% | +59.0% | — | 16.0% | 0.66 | −27.4% | 0.18% | $18B | 85% |
| DFIC InternationalDimensional - International Core Equity 2 ETF | 4/5 short1/3 long | −1.9% | +2.2% | +1.5% | +10.6% | +17.1% | +82.4% | — | — | — | — | −24.4% | 0.22% | $15B | 83% |
| IDEV InternationaliShares Core MSCI International Developed Markets ETF | 3/5 short1/3 long | −2.0% | +1.5% | +1.5% | +9.2% | +13.8% | +75.7% | +51.5% | — | 16.4% | 0.59 | −34.8% | 0.04% | $33B | 87% |
| IEMG InternationaliShares Core MSCI Emerging Markets ETF | 2/5 short1/3 long | −7.6% | +0.2% | +0.6% | +13.0% | +17.0% | +83.4% | +39.0% | +122% | 19.4% | 0.44 | −38.7% | 0.09% | $151B | 77% |
| EEM InternationaliShares MSCI Emerging Markets ETF | 2/5 short1/3 long | −8.0% | −0.4% | +0.7% | +13.2% | +17.6% | +84.9% | +35.7% | +110% | 20.0% | 0.41 | −39.8% | 0.72% | $29B | 79% |
| EFA InternationaliShares MSCI EAFE ETF | 1/5 short1/3 long | −2.3% | +1.1% | +1.4% | +8.6% | +12.5% | +71.2% | +51.0% | +139% | 16.6% | 0.58 | −34.2% | 0.32% | $77B | 84% |
| VEU InternationalVanguard FTSE All-World ex-US ETF | 0/5 short1/3 long | −3.8% | +1.0% | +1.4% | +10.5% | +15.1% | +78.3% | +50.7% | +143% | 16.4% | 0.58 | −35.0% | 0.04% | $96B | 95% |
| IEFA InternationaliShares Core MSCI EAFE ETF | 1/5 short0/3 long | −2.4% | +1.2% | +1.3% | +8.8% | +12.8% | +72.4% | +49.0% | +140% | 16.6% | 0.56 | −34.8% | 0.07% | $190B | 86% |
| ACWX InternationaliShares MSCI ACWI ex U.S. ETF | 1/5 short0/3 long | −3.8% | +1.0% | +1.5% | +10.6% | +15.0% | +78.1% | +49.0% | +136% | 16.6% | 0.56 | −35.3% | 0.32% | $17B | 94% |
| VSS InternationalVanguard FTSE All-World ex-US Small-Cap ETF | 1/5 short0/3 long | −4.2% | +2.2% | −3.6% | +6.0% | +10.0% | +65.4% | +27.5% | +105% | 16.7% | 0.38 | −43.5% | 0.06% | $14B | 78% |
| BNDX BondsVanguard Total International Bond ETF | 1/5 short0/3 long | 0.0% | −1.0% | −1.2% | −0.7% | −1.4% | +13.4% | +0.8% | +15.0% | 4.9% | 0.06 | −16.2% | 0.07% | $122B | — |
| IXUS InternationaliShares Core MSCI Total International Stock ETF | 0/5 short0/3 long | −3.8% | +1.1% | +1.2% | +10.6% | +14.8% | +78.3% | +48.4% | +140% | 16.6% | 0.56 | −36.2% | 0.07% | $58B | 95% |
| SPEM InternationalState Street SPDR Portfolio Emerging Markets ETF | 0/5 short0/3 long | −4.7% | +1.5% | +0.6% | +7.6% | +9.9% | +70.4% | +33.1% | +114% | 17.3% | 0.42 | −36.1% | 0.07% | $17B | 83% |
| VWO InternationalVanguard FTSE Emerging Markets ETF | 0/5 short0/3 long | −4.7% | +0.7% | −0.8% | +6.4% | +8.3% | +67.2% | +29.1% | +102% | 17.5% | 0.38 | −36.4% | 0.06% | $165B | 78% |
How did VXUS do year by year?
This table shows each investment's total return in every full calendar year since 2012, along with where VXUS ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with VXUS and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
Note: VXUS began trading on January 28, 2011, so the table starts with 2012, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or the 2010 flash crash.
- Among its popular alternatives, DFAI came out ahead of VXUS most often, in four of the five years both traded.
- VXUS finished ahead of the S&P 500 in four of its 14 full calendar years.
- Ranked against its popular alternatives each year, VXUS finished in the top quarter in no of 14 years and in the bottom quarter in no. In 2025, it ranked 14 of 22.
Newest year first. Green marks a year in which the fund came out ahead of VXUS; gray means the two finished within a fraction of a point. The rank row places VXUS among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of VXUS | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VXUS This pageVanguard Total International Stock ETF | — | +32.3% | +5.1% | +15.9% | −16.1% | +9.0% | +10.7% | +21.7% | −14.4% | +27.5% | +4.8% | −4.2% | −4.7% | +14.6% | +18.6% |
| Rank among alternatives | Top quarter in 0 of 14 | 14 of 22 | 10 of 22 | 13 of 22 | 12 of 21 | 12 of 20 | 10 of 19 | 9 of 17 | 13 of 17 | 6 of 16 | 9 of 16 | 9 of 16 | 9 of 16 | 9 of 14 | 8 of 12 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 10 of 14 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% |
| VTI Vanguard Morningstar Total Stock Market ETF | 10 of 14 | +17.1% | +23.8% | +26.0% | −19.5% | +25.7% | +21.1% | +30.7% | −5.2% | +21.2% | +12.8% | +0.4% | +12.5% | +33.4% | +16.4% |
| FNDF Schwab Fundamental International Large Company Index ETF | 5 of 12 | +40.9% | +2.3% | +20.2% | −7.8% | +14.9% | +3.6% | +18.4% | −14.2% | +24.0% | +7.9% | −5.2% | −6.5% | — | — |
| VT Vanguard Total World Stock ETF | 10 of 14 | +22.4% | +16.5% | +22.0% | −18.0% | +18.3% | +16.6% | +26.8% | −9.8% | +24.5% | +8.5% | −1.9% | +3.7% | +22.9% | +17.2% |
| SCHF Schwab International Equity ETF | 6 of 14 | +34.6% | +3.3% | +18.3% | −14.8% | +11.4% | +9.5% | +22.2% | −14.2% | +26.1% | +3.0% | −2.6% | −5.6% | +18.9% | +18.8% |
| SPDW State Street SPDR Portfolio Developed World ex-US ETF | 6 of 14 | +34.7% | +3.6% | +17.8% | −16.0% | +11.4% | +9.9% | +22.5% | −14.2% | +25.9% | +3.0% | −1.8% | −5.3% | +18.9% | +19.1% |
| AVDE Avantis International Equity ETF | 4 of 6 | +38.0% | +4.9% | +17.2% | −13.7% | +13.6% | +8.3% | — | — | — | — | — | — | — | — |
| AVEM Avantis Emerging Markets Equity ETF | 3 of 6 | +34.5% | +7.5% | +15.3% | −18.1% | +5.1% | +14.4% | — | — | — | — | — | — | — | — |
| DFAX Dimensional World ex U.S. Core Equity 2 ETF | 3 of 4 | +35.4% | +4.8% | +16.6% | −14.5% | — | — | — | — | — | — | — | — | — | — |
| DFAI Dimensional - International Core Equity Market ETF | 4 of 5 | +34.1% | +4.7% | +17.5% | −12.9% | +13.9% | — | — | — | — | — | — | — | — | — |
| DFIC Dimensional - International Core Equity 2 ETF | 2 of 3 | +37.0% | +4.1% | +17.3% | — | — | — | — | — | — | — | — | — | — | — |
| IDEV iShares Core MSCI International Developed Markets ETF | 4 of 8 | +32.6% | +4.5% | +17.3% | −15.0% | +13.0% | +8.3% | +23.2% | −14.1% | — | — | — | — | — | — |
| IEMG iShares Core MSCI Emerging Markets ETF | 5 of 13 | +32.5% | +6.5% | +11.5% | −20.0% | −0.6% | +17.8% | +17.8% | −14.9% | +37.4% | +10.3% | −14.3% | −3.4% | −2.8% | — |
| EEM iShares MSCI Emerging Markets ETF | 6 of 14 | +34.0% | +6.5% | +9.0% | −20.5% | −3.6% | +17.1% | +18.3% | −15.3% | +37.3% | +10.8% | −16.2% | −3.9% | −3.7% | +19.1% |
| EFA iShares MSCI EAFE ETF | 6 of 14 | +31.6% | +3.5% | +18.4% | −14.4% | +11.5% | +7.6% | +22.0% | −13.8% | +25.1% | +1.4% | −1.0% | −6.2% | +21.4% | +18.8% |
| VEU Vanguard FTSE All-World ex-US ETF | 0 of 14 | +32.4% | +5.6% | +15.9% | −15.6% | +8.3% | +11.1% | +21.8% | −14.2% | +27.4% | +4.9% | −4.8% | −4.5% | +14.1% | +18.9% |
| IEFA iShares Core MSCI EAFE ETF | 6 of 13 | +32.1% | +3.3% | +17.9% | −15.3% | +11.6% | +8.2% | +22.6% | −14.1% | +26.6% | +1.6% | +0.7% | −6.3% | +22.5% | — |
| ACWX iShares MSCI ACWI ex U.S. ETF | 0 of 14 | +32.6% | +5.2% | +15.7% | −16.1% | +7.7% | +10.3% | +21.1% | −13.9% | +27.2% | +4.5% | −5.8% | −5.0% | +14.8% | +17.1% |
| VSS Vanguard FTSE All-World ex-US Small-Cap ETF | 6 of 14 | +29.6% | +2.9% | +15.6% | −21.5% | +13.1% | +11.8% | +21.4% | −18.5% | +30.6% | +4.2% | 0.0% | −5.1% | +16.6% | +20.8% |
| BNDX Vanguard Total International Bond ETF | 4 of 12 | +2.9% | +3.6% | +8.8% | −12.8% | −2.3% | +4.6% | +7.8% | +2.8% | +2.4% | +4.6% | +1.2% | +8.8% | — | — |
| SPEM State Street SPDR Portfolio Emerging Markets ETF | 6 of 14 | +25.6% | +11.4% | +10.5% | −17.9% | +1.5% | +14.5% | +19.7% | −13.3% | +34.8% | +11.8% | −15.3% | −0.7% | −1.8% | +18.0% |
| VWO Vanguard FTSE Emerging Markets ETF | 6 of 14 | +25.6% | +10.6% | +9.3% | −18.0% | +1.3% | +15.2% | +20.8% | −14.8% | +31.5% | +12.2% | −15.8% | 0.0% | −4.9% | +19.2% |
Risk and diversification
How VXUS 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 VXUS's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents VXUS's five deepest drawdowns since it began trading in 2011, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
Note: VXUS began trading on January 28, 2011, so this list cannot include the dot-com bust, the 2008 financial crisis or the 2010 flash crash. The crash tests on this page show how older funds and the S&P 500 fared through those years.
- In all five of VXUS's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: VXUS fell 24.9% from July 2014 to February 2016, while the S&P 500 slipped only 4.9%.
- The longest climb back to a previous high took 19 months, after VXUS fell 29.4% from September 2021 to October 2022.
Green means VXUS fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | VXUS fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Late-2018 sell-off | −36.0% | −18.8% | Jan 2018 | Mar 2020 | 2.2 years | Nov 2020 | 8 months |
| 2022 bear market | −29.4% | −19.9% | Sep 2021 | Oct 2022 | 13 months | May 2024 | 19 months |
| 2011 euro debt crisis | −27.0% | −18.6% | Apr 2011 | Oct 2011 | 6 months | May 2013 | 19 months |
| 2015 China and oil sell-off | −24.9% | −4.9% | Jul 2014 | Feb 2016 | 19 months | May 2017 | 15 months |
| No named crash | −13.6% | −12.2% | Mar 2025 | Apr 2025 | 1 month | May 2025 | 1 month |
How did VXUS do in stock market crashes?
This section measures how far VXUS, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.
Note: VXUS began trading on January 28, 2011, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or the 2010 flash crash. The older alternatives and the S&P 500 show how those crashes played out.
- Among its popular alternatives, BNDX held up best, falling less than VXUS in all six crashes they both traded through.
- VXUS began trading after the 2008 financial crisis, but seven of its popular alternatives lived through it. The mildest fall among them was VTI's 55.5%, against 55.2% for the S&P 500.
- VXUS fell further than the S&P 500 in three of the seven crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when VXUS fell 20.2% and the S&P 500 fell 12.8%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than VXUS.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VXUS This pageVanguard Total International Stock ETF | — | −2.5% | −28.4% | −33.4% | −15.1% | −6.1% | −20.2% | −24.2% | Not yet trading | Not yet trading | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 3 of 7 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| VTI Vanguard Morningstar Total Stock Market ETF | 3 of 7 | −4.0% | −25.2% | −35.0% | −20.0% | −6.3% | −14.1% | −19.5% | −1.9% | −55.5% | — |
| FNDF Schwab Fundamental International Large Company Index ETF | 1 of 6 | −3.0% | −25.5% | −35.7% | −16.8% | −5.7% | −21.6% | — | — | — | — |
| VT Vanguard Total World Stock ETF | 3 of 7 | −3.3% | −26.2% | −34.1% | −17.8% | −6.2% | −17.2% | −21.8% | −0.7% | — | — |
| SCHF Schwab International Equity ETF | 1 of 7 | −2.4% | −28.4% | −33.5% | −16.4% | −5.8% | −20.1% | −23.5% | −0.5% | — | — |
| SPDW State Street SPDR Portfolio Developed World ex-US ETF | 1 of 7 | −2.5% | −29.0% | −33.7% | −16.5% | −5.8% | −20.6% | −23.0% | 0.0% | −60.0% | — |
| AVDE Avantis International Equity ETF | 0 of 3 | −3.0% | −28.4% | −35.7% | — | — | — | — | — | — | — |
| AVEM Avantis Emerging Markets Equity ETF | 0 of 3 | −2.5% | −29.3% | −33.2% | — | — | — | — | — | — | — |
| DFAX Dimensional World ex U.S. Core Equity 2 ETF | 1 of 2 | −2.7% | −27.9% | — | — | — | — | — | — | — | — |
| DFAI Dimensional - International Core Equity Market ETF | 1 of 2 | −2.7% | −27.1% | — | — | — | — | — | — | — | — |
| DFIC Dimensional - International Core Equity 2 ETF | 0 of 1 | −2.9% | — | — | — | — | — | — | — | — | — |
| IDEV iShares Core MSCI International Developed Markets ETF | 1 of 5 | −2.5% | −28.4% | −33.9% | −17.2% | −5.5% | — | — | — | — | — |
| IEMG iShares Core MSCI Emerging Markets ETF | 2 of 6 | −2.6% | −30.4% | −31.7% | −12.0% | −6.7% | −21.6% | — | — | — | — |
| EEM iShares MSCI Emerging Markets ETF | 2 of 7 | −2.7% | −31.4% | −30.8% | −12.1% | −6.8% | −22.3% | −28.0% | 0.0% | −66.4% | — |
| EFA iShares MSCI EAFE ETF | 2 of 7 | −2.5% | −28.7% | −32.6% | −16.3% | −5.9% | −20.7% | −22.7% | −0.2% | −61.0% | — |
| VEU Vanguard FTSE All-World ex-US ETF | 1 of 7 | −2.5% | −28.3% | −32.8% | −14.9% | −6.2% | −20.7% | −24.6% | 0.0% | −61.5% | — |
| IEFA iShares Core MSCI EAFE ETF | 0 of 6 | −2.5% | −29.2% | −33.2% | −17.1% | −5.8% | −19.9% | — | — | — | — |
| ACWX iShares MSCI ACWI ex U.S. ETF | 1 of 7 | −2.5% | −28.8% | −32.8% | −14.8% | −5.9% | −20.9% | −24.4% | −0.1% | — | — |
| VSS Vanguard FTSE All-World ex-US Small-Cap ETF | 1 of 7 | −3.0% | −31.7% | −38.2% | −18.4% | −5.8% | −16.5% | −26.8% | −1.5% | — | — |
| BNDX Vanguard Total International Bond ETF | 6 of 6 | 0.0% | −13.7% | −5.9% | −0.8% | −0.2% | −1.1% | — | — | — | — |
| SPEM State Street SPDR Portfolio Emerging Markets ETF | 3 of 7 | −2.8% | −27.8% | −30.5% | −10.7% | −6.7% | −23.4% | −25.9% | 0.0% | −64.4% | — |
| VWO Vanguard FTSE Emerging Markets ETF | 2 of 7 | −2.7% | −27.9% | −30.6% | −11.3% | −6.8% | −23.8% | −27.9% | 0.0% | −67.7% | — |
How closely does VXUS 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. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares VXUS with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- VWO took just 75% of the S&P 500's losses, against 91% for VXUS, while still keeping 63% of its gains.
- Over the past 10 years, VXUS captured 76% of the S&P 500's gains in rising months and 91% of its losses in falling months, with a beta of 0.82. Its share of the market's losses was larger than its share of the gains.
- Seven of the 15 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than VXUS's 0.84, led by VTI, FNDF and VT.
Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than VXUS's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| VXUS This pageVanguard Total International Stock ETF | 76% | 91% | 0.84 | 0.82 |
| VTI Vanguard Morningstar Total Stock Market ETF | 100% | 103% | 0.97 | 1.02 |
| FNDF Schwab Fundamental International Large Company Index ETF | 81% | 87% | 0.93 | 0.80 |
| VT Vanguard Total World Stock ETF | 90% | 98% | 0.92 | 0.94 |
| SCHF Schwab International Equity ETF | 79% | 93% | 0.86 | 0.84 |
| IEMG iShares Core MSCI Emerging Markets ETF | 71% | 83% | 0.86 | 0.77 |
| SPEM State Street SPDR Portfolio Emerging Markets ETF | 65% | 76% | 0.86 | 0.69 |
| VEU Vanguard FTSE All-World ex-US ETF | 76% | 89% | 0.85 | 0.80 |
| SPDW State Street SPDR Portfolio Developed World ex-US ETF | 80% | 95% | 0.84 | 0.86 |
| ACWX iShares MSCI ACWI ex U.S. ETF | 75% | 90% | 0.84 | 0.80 |
| VWO Vanguard FTSE Emerging Markets ETF | 63% | 75% | 0.84 | 0.69 |
| EEM iShares MSCI Emerging Markets ETF | 70% | 84% | 0.83 | 0.77 |
| EFA iShares MSCI EAFE ETF | 76% | 92% | 0.83 | 0.81 |
| BNDX Vanguard Total International Bond ETF | 11% | 13% | 0.83 | 0.14 |
| IEFA iShares Core MSCI EAFE ETF | 77% | 94% | 0.82 | 0.82 |
| VSS Vanguard FTSE All-World ex-US Small-Cap ETF | 80% | 107% | 0.74 | 0.94 |
What diversifies VXUS?
Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with VXUS's. Because such investments tend not to fall at the same time, pairing VXUS with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in VXUS into DBMF would have cut the portfolio's volatility by 23% over the past 5 years and raised its annual return (+9.4% for VXUS alone, +10.0% for the mix).
- MPC made money in three of the four calendar years in which VXUS lost money.
- Among large ETFs, MLPX, GLD and XLE have moved largely independently of VXUS over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which VXUS lost money. The last two columns show a portfolio that is 80% VXUS and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2015 | 2014 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|
| VXUS Vanguard Total International Stock ETF (this page) | 1.00 | +48.6% | 0.57 | −16.1% | −14.4% | −4.2% | −4.7% | 15.2% | +9.4% |
| MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF | 0.48 | +135% | 0.97 | +21.5% | −15.5% | −35.3% | +16.2% | 14.3% | +11.7% |
| GLD CommoditiesSPDR Gold Shares | 0.48 | +126% | 0.96 | −0.8% | −1.9% | −10.7% | −2.2% | 14.1% | +11.3% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.28 | +177% | 0.93 | +64.4% | −18.2% | −21.5% | −8.7% | 14.5% | +12.6% |
| AMLP EnergyAlerian MLP ETF | 0.34 | +111% | 0.89 | +25.5% | −12.6% | −25.7% | +4.8% | 13.8% | +11.4% |
| DBMF AlternativesiMGP DBi Managed Futures Strategy ETF | -0.30 | +59.7% | 0.82 | +21.6% | — | — | — | 11.6% | +10.0% |
| DBA AlternativesInvesco DB Agriculture Fund | 0.20 | +66.4% | 0.81 | +2.5% | −8.7% | −17.2% | +2.6% | 12.8% | +9.9% |
| USO CommoditiesUnited States Oil Fund, LP | -0.08 | +176% | 0.73 | +29.0% | −19.6% | −46.0% | −42.4% | 13.8% | +13.3% |
| FLSP AlternativesFranklin Systematic Style Premia ETF | 0.00 | +49.8% | 0.68 | +0.5% | — | — | — | 12.2% | +9.5% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2015 | 2014 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|
| VXUS Vanguard Total International Stock ETF (this page) | 1.00 | +48.6% | 0.57 | −16.1% | −14.4% | −4.2% | −4.7% | 15.2% | +9.4% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.28 | +479% | 1.55 | +54.1% | −24.5% | +12.6% | +23.0% | 14.5% | +15.2% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.29 | +3,143% | 1.47 | +1.3% | −16.3% | −6.0% | +12.9% | 19.2% | +27.6% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.39 | +1,636% | 1.46 | +17.0% | +0.8% | +67.7% | −10.4% | 17.7% | +23.6% |
| MCK Medical - DistributionMcKesson Corporation | 0.12 | +413% | 1.44 | +51.8% | −28.4% | −4.5% | +29.3% | 13.7% | +14.7% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.23 | +690% | 1.41 | +86.6% | −8.2% | +17.4% | +0.4% | 15.0% | +17.2% |
Common questions
What was VXUS's worst drawdown?
VXUS's deepest decline since it began trading in 2011 was 36.0%, from January 2018 to March 2020. It took eight months from the low to climb back to its old high. Because VXUS launched in January 2011, that record does not include the dot-com bust, the 2008 financial crisis or the 2010 flash crash.
What were VXUS's best and worst years?
Over 14 full calendar years, VXUS's best year was 2025, when it returned 32.3%. Its worst was 2022, with a return of -16.1%.
Is there a better investment than VXUS?
Among VXUS's popular alternatives, VTI and FNDF earned more than VXUS over the past 5 years with similar volatility: VTI returned 11.5% a year at 17.5% volatility, against 8.2% a year at 16.4%. A cheaper fund that has kept up over the past decade is VEA (0.03% a year against 0.05%).
Is VXUS more volatile than the S&P 500?
No. VXUS's volatility over the past 5 years was 16.4%, 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, VXUS's return lands within 16.4% 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 VXUS's Sharpe ratio?
VXUS's Sharpe ratio over the past 5 years was 0.57, against 0.79 for the S&P 500, so VXUS 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 VXUS with the S&P 500?
Over the past 5 years, VXUS's monthly returns had a correlation of 0.80 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 VXUS instead: the lower it is, the more that option would diversify a VXUS holding.
What are the best alternatives to VXUS?
Of the 23 popular alternatives we compared, eight outperformed VXUS in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: VTI, FNDF and VT.
Did VXUS outperform the S&P 500?
VXUS finished ahead of the S&P 500 (SPY) in four of 14 full calendar years. In 2025, it returned +32.3%, against +17.7% for the index.
How did VXUS do in stock market crashes?
VXUS fell less than the S&P 500 (SPY) in two of the seven major crashes it has traded through, and further in three. The clearest case was the 2015 China and oil sell-off, when VXUS fell 20.2% and the S&P 500 fell 12.8%.
What diversifies VXUS?
These had a low correlation with VXUS over the past 5 years and still earned a positive 5-year return: among large ETFs, MLPX (correlation 0.48), GLD (correlation 0.48) and XLE (correlation 0.28); among large stocks, CAH (correlation 0.28), CLS (correlation 0.29) and FIX (correlation 0.39). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than VXUS's. Returns within 0.5 points or 3% of VXUS's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
More research
Popular alternatives to VXUS
- VTIVanguard Morningstar Total Stock Market ETF
- VTVanguard Total World Stock ETF
- SCHFSchwab International Equity ETF
SPDWState Street SPDR Portfolio Developed World ex-US ETF
VEAVanguard FTSE Developed Markets ETF
IEMGiShares Core MSCI Emerging Markets ETF
EFAiShares MSCI EAFE ETF
VEUVanguard FTSE All-World ex-US ETF
IEFAiShares Core MSCI EAFE ETF
BNDXVanguard Total International Bond ETF
IXUSiShares Core MSCI Total International Stock ETF
VWOVanguard FTSE Emerging Markets ETF