Data as of Oct 28, 2026.
VEU vs VPU: Differences, Returns & Fees
Over the year to Oct 28, 2026, VEU returned +14.4% to VPU's −3.3%; 1% of their weight is in the same names.
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Net assets on Sep 30, 2026: $68.1bn for Vanguard FTSE All World Ex US ETF and $7.7bn for Vanguard Utilities ETF.
Pair scorecard
VEU costs 0.05 points a year less; their one-year returns differ by 17.7 points; VEU is 8.8 times larger.
| Measure | VEU | VPU |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.4% | −3.3% |
| Drawdown | ||
| Below its high | 5.0%, high on Sep 4, 2026 | 8.9%, high on Feb 27, 2026 |
| Benchmark | ||
| What it tracks | FTSE All-World ex US Index | MSCI US Investable Market Index (IMI)/Utilities 25/50 |
| Cost and size | ||
| Expense ratio | 0.04% | 0.09% |
| Net assets, as of Sep 30, 2026 | $68.1bn | $7.7bn |
| Holdings | ||
| Holdings in common | 1% | |
| Top ten holdings, share of the fund | 15.2% | 52.3% |
Holdings in common uses holdings dated Sep 30, 2026. Method
Risk and return
Mar 16, 2007 to Oct 23, 2026 · 1,023 weekly returnsVPU returned more: +340.3% to +173.1%. VPU swung slightly less: 18.3% to 19.3%. VPU fell less at its worst: −44.9% to −60.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VEU | VPU | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +173.1% | +340.3% | VPU | Price change plus distributions, reinvested. |
| Annualized | +5.2% | +7.8% | VPU | Total return as a yearly rate. |
| Price return | +59.0% | +128.6% | VPU | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.3% | 18.3% | VPU (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.0% | 13.1% | VPU (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −60.1% | −44.9% | VPU | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.28 | 0.42 | VPU | Return above Treasury bills per unit of volatility. |
| Sortino | 0.39 | 0.59 | VPU | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.09 | 0.17 | VPU | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,023 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VEU and VPU hold 1% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.
half
1% in common
Only in one fund ↓
Side by side
VEU and VPU on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VEU and VPU do different jobs. What does each one do in a portfolio?
- What each follows. VEU follows FTSE All-World ex US Index and VPU follows MSCI US Investable Market Index (IMI)/Utilities 25/50.
- Holdings in common. 1% of the weight is in the same securities (holdings dated Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VEU returned +14.4% and VPU −3.3% with distributions reinvested, a gap of 17.7 points.
Data as of Oct 28, 2026.
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VEU
VEU tracks the FTSE All-World ex-US. Over the year to Oct 28, 2026 it returned +14.4% with distributions reinvested. The prospectus expense ratio is 0.04% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 3,816 positions, with the top ten at 15.2%. It sat 5.0% below its high of Sep 4, 2026 on Oct 28, 2026.
VPU
VPU tracks an index of Utilities. Over the year to Oct 28, 2026 it returned −3.3% with distributions reinvested, against −3.3% for its benchmark, the MSCI US Investable Market Index (IMI)/Utilities 25/50. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer as of Sep 30, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 70 positions, with the top ten at 52.3%. It sat 8.9% below its high of Feb 27, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, VEU or VPU?
- In the year to Oct 28, 2026, with distributions reinvested, VEU returned +14.4% and VPU −3.3%.
- Which is cheaper, VEU or VPU?
- VEU is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, VEU against VPU, data as of Oct 28, 2026. https://etfiq.com/compare/any/veu-vs-vpu
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