VEUR vs EXS1: returns, risk and drawdowns compared
Vanguard FTSE Developed Europe UCITS ETF (Dist) against iShares Core DAX UCITS ETF (DE), over the same 7 years (February 2019 to October 2026) with dividends reinvested.
Data updated October 2026
From February 2019 to October 2026, VEUR returned 8.0% a year and EXS1 10.5% a year on average, so EXS1 came out ahead by 2.6% a year. EXS1 was the more volatile of the two (17.1% against 14.8% a year), and the deepest falls from a month-end high were 23.2% for VEUR and 25.1% for EXS1.
The correlation of monthly returns was 0.91: they moved almost in lockstep. Over 58 rolling 3-year periods, VEUR did better in 16% and EXS1 in 84%.
Side by side
| VEUR | EXS1 | |
|---|---|---|
| Annual return (CAGR) | +8.0% | +10.5% |
| Total return | +81% | +117% |
| Annual volatility | 14.8% | 17.1% |
| Maximum drawdown (month-end) | −23.2% | −25.1% |
| Worst month | −14.7% | −16.5% |
| Best month | +14.1% | +15.0% |
| Positive months | 62% | 62% |
| Best year | 2021: +21.7% | 2025: +22.6% |
| Worst year | 2022: −13.2% | 2022: −12.8% |
| 1-year return | +14.7% | +3.8% |
| 5 years, a year | +7.0% | +9.6% |
| 10 years, a year | — | +8.3% |
| Trading currency | EUR | EUR |
First nine rows: the same 93 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: VEUR vs EXS1
Returns by calendar year
| Year | VEUR | EXS1 |
|---|---|---|
| 2025 | +18.6% | +22.6% |
| 2024 | +5.9% | +18.1% |
| 2023 | +12.7% | +19.4% |
| 2022 | −13.2% | −12.8% |
| 2021 | +21.7% | +15.2% |
| 2020 | −4.9% | +3.0% |
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, VEUR or EXS1?
From February 2019 to October 2026, VEUR returned +8.0% a year and EXS1 +10.5% a year, with dividends reinvested. Over rolling 3-year periods VEUR did better in 16% of cases. Past returns do not predict future returns.
Which is riskier, VEUR or EXS1?
Over the same months annual volatility was 14.8% for VEUR and 17.1% for EXS1; the deepest fall from a month-end high was 23.2% and 25.1%, and the worst single month −14.7% and −16.5%.
How correlated are VEUR and EXS1?
The correlation of their monthly returns was 0.91: 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.