MXF vs VEA: Correlation
Mexico Fund, Inc. (The) (MXF) and Vanguard FTSE Developed Markets ETF (VEA) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXF and VEA?
Across a 3-year window, the weekly returns of MXF and VEA correlate at 0.66, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.66 over 3. Stretching to 5 years gives 0.68, with an annualized covariance of 212.5 %².
Within MXF's tracked universe of 18 assets, VEA comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +29.5% against +28.5%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
MXF vs VEA: side by side
| MXF (Mexico Fund, Inc. (The)) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +29.5% | +28.5% |
| 5-year return | +82.1% | +63.5% |
| Volatility (ann.) | 21.3% | 15.1% |
| Beta vs S&P 500 | 0.67 | 0.79 |
| Max drawdown (3Y) | -30.7% | -13.5% |
| Market cap | $0.3B | – |
| P/E (trailing) | 3.4 | – |
| Dividend yield | 5.43% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | MXF | VEA |
|---|---|---|
| 2022 | -1.7% | -15.3% |
| 2023 | +35.8% | +17.9% |
| 2024 | -27.1% | +3.1% |
| 2025 | +61.9% | +35.2% |
| 2026 | +14.8% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXF and VEA good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MXF and VEA?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.75 over the last year and 0.68 over 5 years.
Is VEA a good diversifier for MXF?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/mxf-vs-vea/)
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Related comparisons
Hubs: MXF correlations · VEA correlations
