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 May 2026, in the previous 30 Years, the Vanguard FTSE All-World ex-US (VEU) ETF obtained a 6.08% compound annual return, with a 16.94% 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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Table of contents

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

Investment Returns as of May 31, 2026

VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Capital Growth
Inflation Adj:
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Show Live Returns: June 2026
Chg (%) Return (%) Return (%) as of May 31, 2026
1 Day Time ET(*) Jun 2026 YTD
(5M) 		1M 6M 1Y 5Y 10Y 30Y MAX
(~56Y)
Investment Return -0.74 -1.12 14.36 3.81 17.29 32.81 8.93 10.03 6.08 8.66
US Inflation Adjusted Return 11.64 3.32 14.15 27.48 4.27 6.43 3.43 4.54
Returns over 1 year are annualized
(*) Eastern Time (ET - America/New York)
The live monthly return is calculated by assuming, for each asset, the weight defined by the base asset allocation.
US Inflation is updated to May 2026. Inflation (annualized) is 1Y: 4.18% , 5Y: 4.47% , 10Y: 3.38% , 30Y: 2.56%

Investment Metrics as of May 31, 2026

VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Advanced Metrics
1 January 1970 - 31 May 2026 (~56 years)
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Metrics as of May 31, 2026
YTD
(5M) 		1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~56Y)
Investment Return (%)
14.36 3.81 2.82 17.29 32.81 20.74 8.93 10.03 6.03 6.08 8.66
Growth of 1$ 1.14 1.04 1.03 1.17 1.33 1.76 1.53 2.60 3.23 5.88 108.21
Infl. Adjusted Return (%)
11.64 3.32 0.81 14.15 27.48 16.92 4.27 6.43 3.38 3.43 4.54
US Inflation (%) 2.44 0.47 1.99 2.75 4.18 3.27 4.47 3.38 2.57 2.56 3.94
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
 Current 1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) 0.00 -8.08 -10.57 -27.60 -27.60 -58.35 -58.35 -58.35
Start to Recovery (# months)
3 5 34 34 114 114 114
Start (yyyy mm) 2026 03 2023 08 2021 06 2021 06 2007 11 2007 11 2007 11
Start to Bottom (# months) 1 3 16 16 16 16 16
Bottom (yyyy mm) 2026 03 2023 10 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 2 2 18 18 98 98 98
End (yyyy mm) 2026 05 2023 12 2024 03 2024 03 2017 04 2017 04 2017 04
Longest Drawdown Depth (%)
same		 -7.38
same		 -24.27
same
same
same
Start to Recovery (# months)
7 34
Start (yyyy mm) 2026 03 2024 10 2021 06 2018 02 2007 11 2007 11 2007 11
Start to Bottom (# months) 1 3 16 26 16 16 16
Bottom (yyyy mm) 2026 03 2024 12 2022 09 2020 03 2009 02 2009 02 2009 02
Bottom to End (# months) 2 4 18 8 98 98 98
End (yyyy mm) 2026 05 2025 04 2024 03 2020 11 2017 04 2017 04 2017 04
Longest negative period (# months)
2 7 35 62 150 150 172
Start (yyyy mm) 2026 02 2024 06 2021 06 2017 08 2007 10 2007 10 1988 12
End (yyyy mm) 2026 03 2024 12 2024 04 2022 09 2020 03 2020 03 2003 03
Annualized Return (%) -17.92 -1.14 -0.65 -0.09 -0.20 -0.20 -0.28
Adjusting for units held makes the drawdown reflect real performance, just like in the no-cash-flow case.
Deepest Drawdown Depth (%) 0.00 -8.86 -11.42 -34.42 -34.42 -59.03 -59.03 -59.03
Start to Recovery (# months)
3 5 49 49 123 123 123
Start (yyyy mm) 2026 03 2023 08 2021 06 2021 06 2007 11 2007 11 2007 11
Start to Bottom (# months) 1 3 16 16 16 16 16
Bottom (yyyy mm) 2026 03 2023 10 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 2 2 33 33 107 107 107
End (yyyy mm) 2026 05 2023 12 2025 06 2025 06 2018 01 2018 01 2018 01
Longest Drawdown Depth (%)
same		 -8.25
same
same
same
same
same
Start to Recovery (# months)
8
Start (yyyy mm) 2026 03 2024 10 2021 06 2021 06 2007 11 2007 11 2007 11
Start to Bottom (# months) 1 3 16 16 16 16 16
Bottom (yyyy mm) 2026 03 2024 12 2022 09 2022 09 2009 02 2009 02 2009 02
Bottom to End (# months) 2 5 33 33 107 107 107
End (yyyy mm) 2026 05 2025 05 2025 06 2025 06 2018 01 2018 01 2018 01
Longest negative period (# months)
2 9 50 84 206 206 263
Start (yyyy mm) 2026 02 2024 04 2021 06 2018 02 2007 11 2007 11 1987 04
End (yyyy mm) 2026 03 2024 12 2025 07 2025 01 2024 12 2024 12 2009 02
Annualized Return (%) -23.29 -1.41 -0.26 -0.14 -0.10 -0.10 -0.41
Adjusting for units held makes the drawdown reflect real performance, just like in the no-cash-flow case.
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 13.43 12.41 15.01 14.69 17.53 16.94 17.11
Sharpe Ratio 2.15 1.30 0.37 0.53 0.26 0.23 0.25
Sortino Ratio 2.56 1.66 0.51 0.71 0.34 0.30 0.34
Ulcer Index 2.27 3.29 9.10 8.62 16.86 18.03 15.31
Ratio: Return / Standard Deviation 2.44 1.67 0.59 0.68 0.34 0.36 0.51
Ratio: Return / Deepest Drawdown 4.06 1.96 0.32 0.36 0.10 0.10 0.15
Positive Months (%)
83.33 69.44 58.33 64.16 58.75 59.72 59.82
Positive Months 10 25 35 77 141 215 405
Negative Months 2 11 25 43 99 145 272
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
 1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 10.03 10.74 10.90 23.88
Worst 10 Years Return (%) - Annualized 1.13 -0.21 -0.21
Best 10 Years Return (%) - Annualized 6.43 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 May 2026 - Over the previous 30Y
Best Rolling Return (%) - Annualized 66.32 32.56 25.48 10.90 7.64 6.08
Worst Rolling Return (%) - Annualized -51.47 -19.17 -6.99 -0.21 2.45
Positive Periods (%) 67.3 76.6 80.0 99.5 100.0 100.0
Best Rolling Return (%) - Annualized 62.82 28.97 21.92 8.34 5.01 3.43
Worst Rolling Return (%) - Annualized -51.48 -21.11 -9.32 -2.73 0.36
Positive Periods (%) 63.8 64.3 64.7 90.0 100.0 100.0
95% VaR - Value at Risk (%) - Cumulative
7.43 12.09 16.01 24.31 28.98 15.72 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 9.46 15.60 20.99 36.01 37.02 21.91 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
10.76 17.86 24.18 47.85 42.78 26.72 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 12.88 21.53 29.37 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 4.46
Perpetual Withdrawal Rate (%) --- --- --- --- 0.33 2.84
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
··· All available data (Jan 1970 - May 2026)
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 (%) 69.8 82.8 88.5 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 (%) 62.4 65.8 71.0 89.9 98.4 100.0
95% VaR - Value at Risk (%) - Cumulative
7.31 11.62 15.00 19.73 20.89 7.10 0.00 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 9.36 15.17 20.02 29.85 31.27 16.55 0.00 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
10.67 17.45 23.24 42.81 38.41 22.45 0.00 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 12.81 21.16 28.48 47.50 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
  • Annualized Portfolio Return: the annualized geometric mean return of the portfolio. When cashflows are involved, it is calculated using the Money-Weighted Rate of Return (MWRR), based on the Modified Dietz formula.
  • 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. When cashflows are involved, portfolio values are normalized by the invested capital (i.e. owned quotes) at each time step: this isolates the effect of market performance from capital contributions, avoiding misleading drawdowns caused by large inflows that artificially lift portfolio value and, as a result, the drawdowns match the ones without cash flows.
  • 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 May 31, 2026

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 May 2026
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Correlation vs VEU
Asset Class 1 Year 5 Years 10 Years 30 Years
VTI
 US Total Stock Market 0.73 0.79 0.83 0.85
SPY
 US Large Cap Blend 0.71 0.79 0.83 0.84
IJH
 US Mid Cap Blend 0.88 0.78 0.81 0.82
IJR
 US Small Cap Blend 0.78 0.71 0.75 0.76
VNQ
 US REITs 0.79 0.78 0.73 0.61
QQQ
 US Technology 0.59 0.68 0.72 0.68
PFF
 US Preferred Stocks 0.75 0.76 0.73 0.51
EFA
 EAFE Stocks 0.98 0.98 0.98 0.99
VT
 World All Countries 0.90 0.91 0.94 0.91
EEM
 Emerging Markets 0.94 0.90 0.90 0.89
BND
 US Total Bond Market 0.70 0.76 0.53 0.20
TLT
 US Long Term Treasuries 0.56 0.66 0.24 -0.08
BIL
 US Cash -0.01 0.24 0.03 -0.02
TIP
 US TIPS 0.80 0.70 0.54 0.24
LQD
 US Invest. Grade Bonds 0.66 0.80 0.67 0.38
HYG
 US High Yield Bonds 0.72 0.78 0.79 0.70
CWB
 US Convertible Bonds 0.69 0.74 0.79 0.79
BNDX
 International Bonds 0.78 0.69 0.48 0.20
EMB
 Emerg. Market Bonds 0.84 0.90 0.81 0.64
GLD
 Gold 0.62 0.49 0.34 0.24
DBC
 Commodities -0.42 0.11 0.40 0.42

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
Inflation Adj:
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Rolling Return Analysis

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 — Over Time & Distribution

Holding Periods and Returns

Holding periods are based on rolling periods: each rolling window represents the return an investor would have achieved by holding the investment for a fixed period (e.g., 10, 20, or 30 years) starting from different dates.

VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Annualized Rolling Returns
Inflation Adj:
Percentiles: – Changes pending. Click 'Update' to refresh

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Time to Target

What it shows: Months to reach your target capital from each historical entry point, accounting for your initial investment and periodic contributions.

VANGUARD FTSE ALL-WORLD EX-US (VEU) ETF
Time to reach your Target Capital

Monthly Returns and Seasonality

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

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Monthly Seasonality Analysis
56 full years are available for analysis

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.

Book Cover: Mastering ETF Investing
LazyPortfolioETF.com Logo
Your practical guide to Building Wealth.
Master ETF Investing & maximize profits with Lazy Portfolios & Passive Strategies.
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