VEA vs VGK: returns, risk and drawdowns compared
Vanguard FTSE Developed Markets ETF against Vanguard FTSE Europe ETF, over the same 6 years (July 2020 to October 2026) with dividends reinvested.
Data updated October 2026
From July 2020 to October 2026, VEA returned 13.0% a year and VGK 12.6% a year on average, so VEA came out ahead by 0.4% a year. VGK was the more volatile of the two (17.2% against 15.9% a year), and the deepest falls from a month-end high were 28.1% for VEA and 31.0% for VGK.
The correlation of monthly returns was 0.97: they moved almost in lockstep. Over 41 rolling 3-year periods, VEA did better in 29% and VGK in 71%.
Side by side
| VEA | VGK | |
|---|---|---|
| Annual return (CAGR) | +13.0% | +12.6% |
| Total return | +116% | +112% |
| Annual volatility | 15.9% | 17.2% |
| Maximum drawdown (month-end) | −28.1% | −31.0% |
| Worst month | −9.9% | −9.9% |
| Best month | +14.3% | +16.4% |
| Positive months | 61% | 64% |
| Best year | 2025: +35.2% | 2025: +35.8% |
| Worst year | 2022: −15.3% | 2022: −16.0% |
| 1-year return | +17.0% | +10.7% |
| 5 years, a year | +9.3% | +8.4% |
| 10 years, a year | — | — |
| Trading currency | USD | USD |
First nine rows: the same 76 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: VEA vs VGK
Returns by calendar year
| Year | VEA | VGK |
|---|---|---|
| 2025 | +35.2% | +35.8% |
| 2024 | +3.1% | +1.9% |
| 2023 | +17.9% | +20.2% |
| 2022 | −15.3% | −16.0% |
| 2021 | +11.7% | +16.9% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, VEA or VGK?
From July 2020 to October 2026, VEA returned +13.0% a year and VGK +12.6% a year, with dividends reinvested. Over rolling 3-year periods VEA did better in 29% of cases. Past returns do not predict future returns.
Which is riskier, VEA or VGK?
Over the same months annual volatility was 15.9% for VEA and 17.2% for VGK; the deepest fall from a month-end high was 28.1% and 31.0%, and the worst single month −9.9% and −9.9%.
How correlated are VEA and VGK?
The correlation of their monthly returns was 0.97: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.