VEU vs SPY
Comparison between VANGUARD FTSE ALL-WORLD EX-US INDEX FUND ETF SHARES (VEU, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed VEU, delivering a return of +13.3% compared to +8.9%
VEU vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
VEU
$84B
Winner
SPY
$652B
Expense Ratio
Winner
VEU
0.04%
SPY
0.09%
Max Drawdown
VEU
62.81%
Winner
SPY
56.47%
Sharpe Ratio
VEU
1.90
Winner
SPY
2.07
5Y Beta
Winner
VEU
0.73
SPY
1.00
P/E Ratio
VEU
N/A
SPY
28.24
Forward P/E
VEU
N/A
SPY
21.85
5Y Dividends CAGR
Winner
VEU
15.40%
SPY
5.43%
5Y EPS CAGR
VEU
N/A
SPY
25.79%
Debt to Equity
VEU
N/A
SPY
22.35%
P/S Ratio
VEU
N/A
SPY
3.55
P/B Ratio
VEU
N/A
SPY
5.29
VEU vs SPY - Holdings Comparison
VEU and SPY have 2 common holdings. Overlap is 0.16%
VEU's top 25 holdings weight is 4.09%. SPY's top 25 holdings weight is 51.32%.
| Rank | VEU | SPY |
|---|---|---|
| #1 | ROYAL BANK OF CANADA (RY) - 0.60% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | CANADIAN PACIFIC KANSAS CITY LTD (CP) - 0.26% | APPLE INC (AAPL) - 6.48% |
| #3 | BANK OF MONTREAL (BMO) - 0.25% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | CRH PLC (CRH) - 0.23% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | CANADIAN NATURAL RESOURCES LTD (CNQ) - 0.22% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | BANK OF NOVA SCOTIA (BNS) - 0.22% | BROADCOM INC (AVGO) - 3.09% |
| #7 | CANADIAN IMPERIAL BANK OF COMMERCE (CM) - 0.20% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | MANULIFE FINANCIAL CORP (MFC) - 0.18% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | FERRARI NV (RACE) - 0.17% | TESLA INC (TSLA) - 1.73% |
| #10 | SUNCOR ENERGY INC (SU) - 0.17% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | TC ENERGY CORP (TRP) - 0.16% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | FLUTTER ENTERTAINMENT PLC (FLUT) - 0.16% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | AGNICO EAGLE MINES LTD (AEM) - 0.16% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | WASTE CONNECTIONS INC (WCN) - 0.16% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | ALCON INC (ALC) - 0.16% | WALMART INC (WMT) - 0.91% |
| #16 | WHEATON PRECIOUS METALS CORP (WPM) - 0.10% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | FRANCO-NEVADA CORP (FNV) - 0.09% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | NUTRIEN LTD (NTR) - 0.09% | VISA INC CLASS A (V) - 0.85% |
| #19 | SMURFIT WESTROCK PLC (SW) - 0.09% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | n/a (BAM) - 0.08% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | THOMSON REUTERS CORP (TRI) - 0.08% | INTEL CORP (INTC) - 0.65% |
| #22 | RESTAURANT BRANDS INTERNATIONAL INC (QSR) - 0.07% | NETFLIX INC (NFLX) - 0.64% |
| #23 | FORTIS INC (FTS) - 0.07% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | CENOVUS ENERGY INC (CVE) - 0.06% | CHEVRON CORP (CVX) - 0.58% |
| #25 | YUM CHINA HOLDINGS INC (YUMC) - 0.06% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 48 | 505 |
VEU vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
VEU
+5.15%
Winner
SPY
+9.11%
3M
VEU
+4.08%
Winner
SPY
+6.59%
6M
Winner
VEU
+17.34%
SPY
+10.56%
1Y
Winner
VEU
+36.24%
SPY
+32.04%
5Y(CAGR)
VEU
+8.88%
Winner
SPY
+13.35%
10Y(CAGR)
VEU
+10.16%
Winner
SPY
+15.49%
Max(CAGR)
VEU
+5.50%
Winner
SPY
+8.50%
VEU vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | VEU | SPY |
|---|---|---|
| 2026 | +11.69% | +8.27% |
| 2025 | +32.83% | +18.00% |
| 2024 | +6.77% | +25.59% |
| 2023 | +15.03% | +26.72% |
| 2022 | -16.14% | -18.64% |
| 2021 | +7.75% | +30.52% |
| 2020 | +9.71% | +17.28% |
| 2019 | +21.96% | +31.09% |
| 2018 | -15.11% | -5.24% |
| 2017 | +26.48% | +20.78% |
| 2016 | +6.73% | +13.59% |
| 2015 | -4.41% | +1.31% |
| 2014 | -2.58% | +14.56% |
| 2013 | +12.36% | +29.00% |
| 2012 | +15.86% | +14.17% |
| 2011 | -14.74% | +0.85% |
| 2010 | +8.46% | +13.14% |
| 2009 | +34.92% | +22.67% |
| 2008 | -43.25% | -36.25% |
| 2007 | +16.01% | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
VEU vs SPY Drawdown Comparison
The maximum drawdown for VEU was -61.54%, occurring on Mar 9, 2009. Recovery took 1677 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current VEU drawdown is -0.20%.
| Rank | VEU | SPY |
|---|---|---|
| #1 | -61.54% Oct 31, 2007 - Jul 1, 2014 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -34.98% Jan 26, 2018 - Nov 11, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -29.32% Jun 14, 2021 - May 9, 2024 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -25.04% Jul 3, 2014 - May 2, 2017 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -13.69% Mar 19, 2025 - May 2, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -13.08% Jul 23, 2007 - Sep 27, 2007 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -11.42% Feb 25, 2026 - May 6, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -9.82% Sep 26, 2024 - Mar 17, 2025 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -7.67% Jul 12, 2024 - Aug 21, 2024 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -4.92% Feb 16, 2021 - Apr 15, 2021 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -4.87% Nov 12, 2025 - Dec 10, 2025 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -4.61% Jan 21, 2021 - Feb 9, 2021 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -3.98% Jul 23, 2025 - Aug 13, 2025 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -3.76% May 7, 2021 - May 26, 2021 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -3.72% Jun 4, 2007 - Jun 21, 2007 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between VEU and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
0.97
-101
Dividend Comparison (1999 - 2026)
VEU vs SPY dividend yield comparison.
| Year | VEU | SPY |
|---|---|---|
| 2026 | 0.14% | 0.24% |
| 2025 | 3.09% | 1.07% |
| 2024 | 3.24% | 1.21% |
| 2023 | 3.32% | 1.40% |
| 2022 | 3.12% | 1.65% |
| 2021 | 3.08% | 1.20% |
| 2020 | 2.00% | 1.52% |
| 2019 | 3.10% | 1.75% |
| 2018 | 3.27% | 2.04% |
| 2017 | 2.66% | 1.80% |
| 2016 | 2.96% | 2.03% |
| 2015 | 2.95% | 2.06% |
| 2014 | 3.52% | 1.87% |
| 2013 | 2.66% | 1.81% |
| 2012 | 2.94% | 2.18% |
| 2011 | 3.45% | 2.05% |
| 2010 | 2.13% | 1.80% |
| 2009 | 1.98% | 1.95% |
| 2008 | 2.43% | 3.02% |
| 2007 | 0.87% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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