Vanguard FTSE All-World ex-US (VEU): Historical Returns

Simulation Settings
Category: Stocks
Period: January 1970 - October 2024 (~55 years)
Consolidated Returns as of 31 October 2024
Live Update: Nov 20 2024
Currency: USD
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1.00$
Initial Capital
November 1994
4.20$
Final Capital
October 2024
4.90%
Yearly Return
16.90
Std Deviation
-58.35%
Max Drawdown
114months
Recovery Period
1.00$
Initial Capital
January 1970
73.68$
Final Capital
October 2024
8.16%
Yearly Return
17.22
Std Deviation
-58.35%
Max Drawdown
114months
Recovery Period
Live update: November 2024 (USD)
-0.29%
1 day - Nov 20 2024
-2.00%
Month - November 2024

The Vanguard FTSE All-World ex-US (VEU) ETF covers to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Blend
  • Region: Global ex-US
  • Country: Broad Global ex-US

As of October 2024, in the previous 30 Years, the Vanguard FTSE All-World ex-US (VEU) ETF obtained a 4.90% compound annual return, with a 16.90% standard deviation. It suffered a maximum drawdown of -58.35% that required 114 months to be recovered.

Disclaimer: The simulations on this website are provided in good faith but should NOT be taken as investment advice. We are not liable for any errors or actions based on this information. The authors of the website are not affiliated with the ETFs/Assets issuers. Content is for informational, educational, illustrative and entertainment purposes only.

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The Vanguard FTSE All-World ex-US (VEU) ETF is part of the following Lazy Portfolios:

Portfolio Name Author VEU Weight▾ Currency
Margaritaville Scott Burns 33.00% USD
LifeStrategy Growth Fund Vanguard 32.00% USD
Ideal Index Frank Armstrong 31.00% USD
Three Funds Bogleheads 30.00% USD
Four Funds Bogleheads 30.00% USD
Second Grader's Starter Paul Farrell 30.00% USD
No Brainer Portfolio Bill Bernstein 25.00% USD
Four Square Scott Burns 25.00% USD
Core Four Rick Ferri 24.00% USD
LifeStrategy Moderate Growth Vanguard 24.00% USD
Edge Select Aggressive Merrill Lynch 21.00% USD
Ivy Portfolio Mebane Faber 20.00% USD
Five Asset Roger Gibson 20.00% USD
Five Fold Scott Burns 20.00% USD
Simple and Cheap Time Money Inc 20.00% USD
Edge Select Moderately Aggressive Merrill Lynch 17.00% USD
Six Ways from Sunday Scott Burns 16.66% USD
LifeStrategy Conservative Growth Vanguard 16.00% USD
Lazy Portfolio David Swensen 15.00% USD
Global Market Portfolio Credit Suisse 15.00% USD
Tilt Toward Value Time Money Inc 15.00% USD
Seven Value Scott Burns 14.25% USD
Lifepath Fund iShares 13.67% USD
Edge Select Moderate Merrill Lynch 13.00% USD
Coffeehouse Bill Schultheis 10.00% USD
Rob Arnott Portfolio Rob Arnott 10.00% USD
Edge Select Moderately Conservative Merrill Lynch 9.00% USD
LifeStrategy Income Fund Vanguard 8.00% USD
Sandwich Portfolio Bob Clyatt 6.00% USD
Edge Select Conservative Merrill Lynch 5.00% USD
Big Rocks Portfolio Larry Swedroe 3.00% USD
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Investment Returns as of Oct 31, 2024

The Vanguard FTSE All-World ex-US (VEU) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • dividend reinvestment, when applicable.
  • the actual US Inflation rates.
VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
1 January 1970 - 31 October 2024 (~55 years)
Live Update: Nov 20 2024
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Oct 31, 2024
  1 Day Time ET(*) Nov 2024 YTD
(10M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~55Y)
Investment Return -0.29 -2.00 8.80 -4.54 6.42 23.52 6.15 5.01 4.90 8.16
US Inflation Adjusted Return 6.48 -4.77 5.66 20.42 1.89 2.07 2.31 4.05
Returns over 1 year are annualized
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Oct 2024. Inflation (annualized) is 1Y: 2.58% , 5Y: 4.17% , 10Y: 2.88% , 30Y: 2.52%

In 2023, the Vanguard FTSE All-World ex-US (VEU) ETF granted a 3.76% dividend yield. If you are interested in getting periodic income, please refer to the Vanguard FTSE All-World ex-US (VEU) ETF: Dividend Yield page.

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Capital Growth as of Oct 31, 2024

An investment of 1$, from November 1994 to October 2024, would be worth 4.20$, with a total return of 319.50% (4.90% annualized).

The Inflation Adjusted Capital would be 1.99$, with a net total return of 98.68% (2.31% annualized).

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An investment of 1$, from January 1970 to October 2024, would be worth 73.68$, with a total return of 7268.14% (8.16% annualized).

The Inflation Adjusted Capital would be 8.81$, with a net total return of 780.57% (4.05% annualized).

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Investment Metrics as of Oct 31, 2024

Metrics of Vanguard FTSE All-World ex-US (VEU) ETF, updated as of 31 October 2024, provide a comprehensive overview of the portfolio's performance and risk characteristics.

These metrics include detailed data on returns, volatility, drawdowns and other key performance indicators. By examining them, you can gain insights into how the portfolio has performed over various time periods and understand its risk profile.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • dividend reinvestment, when applicable.
  • the actual US Inflation rates.
VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Advanced Metrics
1 January 1970 - 31 October 2024 (~55 years)
Swipe left to see all data
Metrics as of Oct 31, 2024
YTD
(10M) 		1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~55Y)
Investment Return (%)
8.80 -4.54 0.42 6.42 23.52 1.83 6.15 5.01 5.86 4.90 8.16
Growth of 1$ 1.09 0.95 1.00 1.06 1.24 1.06 1.35 1.63 3.13 4.20 73.68
Infl. Adjusted Return (%)
6.48 -4.77 -0.19 5.66 20.42 -2.56 1.89 2.07 3.24 2.31 4.05
US Inflation (%) 2.17 0.24 0.61 0.72 2.58 4.50 4.17 2.88 2.55 2.52 3.95
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
 Current 1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -4.54 -4.54 -26.80 -27.60 -27.60 -58.35 -58.35 -58.35
Start to Recovery (# months)
1* 1* 29 34 34 114 114 114
Start (yyyy mm) 2024 10 2021 11 2021 06 2021 06 2007 11 2007 11 2007 11
Start to Bottom (# months) 1 11 16 16 16 16 16
Bottom (yyyy mm) 2024 10 2022 09 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 0 18 18 18 98 98 98
End (yyyy mm) - 2024 03 2024 03 2024 03 2017 04 2017 04 2017 04
Longest Drawdown Depth (%) -1.66
same
same		 -24.27
same
same
same
Start to Recovery (# months)
2 34
Start (yyyy mm) 2024 01 2021 11 2021 06 2018 02 2007 11 2007 11 2007 11
Start to Bottom (# months) 1 11 16 26 16 16 16
Bottom (yyyy mm) 2024 01 2022 09 2022 09 2020 03 2009 02 2009 02 2009 02
Bottom to End (# months) 1 18 18 8 98 98 98
End (yyyy mm) 2024 02 2024 03 2024 03 2020 11 2017 04 2017 04 2017 04
Longest negative period (# months)
2* 30 36 65 150 150 172
Start (yyyy mm) 2024 09 2021 11 2019 11 2014 11 2007 10 2007 10 1988 12
End (yyyy mm) 2024 10 2024 04 2022 10 2020 03 2020 03 2020 03 2003 03
Annualized Return (%) -12.00 -0.32 -1.15 -0.46 -0.20 -0.20 -0.28
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -11.13 -4.77 -31.72 -34.42 -34.42 -59.03 -59.03 -59.03
Start to Recovery (# months)
41* 1* 36* 41* 41* 123 123 123
Start (yyyy mm) 2024 10 2021 11 2021 06 2021 06 2007 11 2007 11 2007 11
Start to Bottom (# months) 1 11 16 16 16 16 16
Bottom (yyyy mm) 2024 10 2022 09 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 0 25 25 25 107 107 107
End (yyyy mm) - - - - 2018 01 2018 01 2018 01
Longest Drawdown Depth (%) -1.96
same
same
same
same
same
same
Start to Recovery (# months)
2
Start (yyyy mm) 2024 01 2021 11 2021 06 2021 06 2007 11 2007 11 2007 11
Start to Bottom (# months) 1 11 16 16 16 16 16
Bottom (yyyy mm) 2024 01 2022 09 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 1 25 25 25 107 107 107
End (yyyy mm) 2024 02 - - - 2018 01 2018 01 2018 01
Longest negative period (# months)
3* 36* 52 104 200 200 263
Start (yyyy mm) 2024 08 2021 11 2020 01 2015 03 2007 11 2007 11 1987 04
End (yyyy mm) 2024 10 2024 10 2024 04 2023 10 2024 06 2024 06 2009 02
Annualized Return (%) -0.78 -2.56 -0.16 -0.03 -0.01 -0.01 -0.41
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 11.74 16.68 17.23 14.97 17.54 16.90 17.22
Sharpe Ratio 1.55 -0.10 0.23 0.23 0.25 0.15 0.22
Sortino Ratio 2.07 -0.15 0.31 0.32 0.34 0.21 0.30
Ulcer Index 1.52 10.76 10.18 9.70 16.85 18.06 15.52
Ratio: Return / Standard Deviation 2.00 0.11 0.36 0.33 0.33 0.29 0.47
Ratio: Return / Deepest Drawdown 5.18 0.07 0.22 0.18 0.10 0.08 0.14
Positive Months (%)
66.66 50.00 56.66 55.83 57.91 58.61 59.27
Positive Months 8 18 34 67 139 211 390
Negative Months 4 18 26 53 101 149 268
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 5.01 9.99 10.90 23.88
Worst 10 Years Return (%) - Annualized 1.13 -0.21 -0.21
Best 10 Years Return (%) - Annualized 2.07 8.08 8.34 16.31
Worst 10 Years Return (%) - Annualized -0.66 -2.73 -3.10
TIMEFRAMES
Inflation Adjusted:
Inflation Adjusted:
 1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
··· As of Oct 2024 - Over the previous 30Y
Best Rolling Return (%) - Annualized 66.32 32.56 25.48 10.90 7.64 4.90
Worst Rolling Return (%) - Annualized -51.47 -19.17 -6.99 -0.21 2.45
Positive Periods (%) 66.7 76.6 80.0 99.5 100.0 100.0
Best Rolling Return (%) - Annualized 62.82 28.97 21.92 8.34 5.01 2.31
Worst Rolling Return (%) - Annualized -51.48 -21.11 -9.32 -2.73 0.36
Positive Periods (%) 62.4 64.6 64.4 90.0 100.0 100.0
95% VaR - Value at Risk (%) - Cumulative
7.51 12.34 16.54 24.31 28.98 15.72 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 9.53 15.85 21.50 36.01 37.02 21.91 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
10.83 18.10 24.68 47.85 42.78 26.72 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 12.95 21.76 29.87 50.26 45.75 28.78 2.08 0.00
Short term VaRs: analytical | 1+ year VaRs: historical data
Safe Withdrawal Rate (%) 63.48 21.94 13.59 7.38 4.68 4.28
Perpetual Withdrawal Rate (%) --- --- --- --- 0.33 2.13
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
··· All available data (Jan 1970 - Oct 2024)
Best Rolling Return (%) - Annualized 88.60 57.29 40.26 23.88 16.32 12.75
Worst Rolling Return (%) - Annualized -51.47 -19.17 -6.99 -0.21 1.34 3.93
Positive Periods (%) 68.9 82.3 88.1 99.8 100.0 100.0
Best Rolling Return (%) - Annualized 85.67 52.76 35.99 16.31 9.50 7.49
Worst Rolling Return (%) - Annualized -51.48 -21.11 -9.32 -3.10 -1.45 1.40
Positive Periods (%) 61.3 65.3 70.1 89.6 98.3 100.0
95% VaR - Value at Risk (%) - Cumulative
7.40 11.82 15.35 20.15 21.04 7.20 0.00 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 9.46 15.39 20.40 30.16 31.59 16.85 0.00 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
10.78 17.69 23.64 43.45 38.41 22.45 0.00 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 12.94 21.42 28.92 48.31 42.91 26.61 0.00 0.00 0.00
Short term VaRs: analytical | 1+ year VaRs: historical data
Safe Withdrawal Rate (%) 63.48 21.94 13.59 7.38 4.48 3.38
Perpetual Withdrawal Rate (%) --- --- --- --- --- 1.22
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Value at Risk (VaR): it's an evaluation of a cumulative worst-case loss (in absolute value), associated with a probability (95%-99%) and a time horizon. For short term, it's calculated based on the expected return and standard deviation, assuming a normal distribution of monthly returns. For long term is retrieved by the historical rolling return data.
  • Conditional Value at Risk (CVaR): it represents the average expected loss if that worst-case threshold (95%-99%) is ever crossed.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.
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Correlations as of Oct 31, 2024

Correlation measures to what degree the returns of two assets move in relation to each other. It is a statistical measure that describes the extent to which the returns of one asset are related to the returns of another asset.

The following table shows the monthly correlations of Vanguard FTSE All-World ex-US (VEU) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Monthly correlations as of 31 October 2024
Swipe left to see all data
Correlation vs VEU
Asset Class 1 Year 5 Years 10 Years 30 Years
VTI
 US Total Stock Market 0.87 0.88 0.86 0.85
SPY
 US Large Cap Blend 0.84 0.87 0.86 0.83
IJH
 US Mid Cap Blend 0.84 0.88 0.83 0.81
IJR
 US Small Cap Blend 0.77 0.85 0.77 0.76
VNQ
 US REITs 0.88 0.84 0.69 0.61
QQQ
 US Technology 0.69 0.75 0.76 0.67
PFF
 US Preferred Stocks 0.77 0.81 0.71 0.50
EFA
 EAFE Stocks 0.97 0.98 0.98 0.99
VT
 World All Countries 0.95 0.95 0.95 0.90
EEM
 Emerging Markets 0.82 0.91 0.91 0.88
BND
 US Total Bond Market 0.84 0.65 0.46 0.17
TLT
 US Long Term Treasuries 0.86 0.34 0.13 -0.10
BIL
 US Cash 0.66 0.00 0.01 -0.03
TIP
 US TIPS 0.80 0.64 0.50 0.21
LQD
 US Invest. Grade Bonds 0.87 0.78 0.64 0.36
HYG
 US High Yield Bonds 0.90 0.84 0.81 0.69
CWB
 US Convertible Bonds 0.81 0.81 0.82 0.79
BNDX
 International Bonds 0.79 0.60 0.41 0.18
EMB
 Emerg. Market Bonds 0.96 0.90 0.80 0.62
GLD
 Gold 0.10 0.34 0.20 0.22
DBC
 Commodities -0.51 0.52 0.50 0.44
Terms and Definitions
Correlation values range between -1 and +1
  • A correlation of +1 indicates that the returns of the two assets move in perfect synchrony; when one asset's returns go up, the other asset's returns also go up by the same percentage, and vice versa. This perfect positive correlation implies that the assets perform similarly in different market conditions.
  • A correlation of -1 indicates a perfect inverse relationship between the returns of the two assets. When one asset's returns go up, the other asset's returns go down by the same percentage. This perfect negative correlation suggests that the assets move in opposite directions, providing a diversification benefit by reducing overall portfolio risk.
  • A correlation of 0 means that there is no linear relationship between the returns of the two assets. The returns of one asset do not predict the returns of the other.
Learn about historical correlations here: see how the main asset classes relate to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
1 November 1994 - 31 October 2024 (30 Years)
1 January 1970 - 31 October 2024 (~55 years)
Inflation Adjusted:

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Rolling Returns

For a detailed rolling return analysis, click here
Vanguard FTSE All-World ex-US (VEU) ETF: Rolling Returns

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
1 November 1994 - 31 October 2024 (30 Years)
1 January 1970 - 31 October 2024 (~55 years)
Inflation Adjusted:

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The values shown for the rolling periods represent key statistical points: the minimum, maximum, median, and the 15th and 85th percentiles. These percentiles give insight into the distribution of the data, indicating the range within which the central 70% of the values lie, while the median represents the middle value.

Seasonality

In which months is it better to invest in Vanguard FTSE All-World ex-US (VEU) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past. They are retrieved considering the time period from January 1970 to October 2024.

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For further information about the seasonality, check the Asset Class Seasonality page.

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the Vanguard FTSE All-World ex-US (VEU) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Monthly Returns Distribution
1 November 1994 - 31 October 2024 (30 Years)
1 January 1970 - 31 October 2024 (~55 years)
211 Positive Months (59%) - 149 Negative Months (41%)
390 Positive Months (59%) - 268 Negative Months (41%)

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Methodology

Returns, up to December 2007, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

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