VEU

Vanguard FTSE All-World ex-US Index Fund

The Vanguard FTSE All-World ex-US fund seeks investment results that correspond to the price and yield performance of the FTSE All-World ex-US Index. The index consists of stocks in both developed and emerging markets outside the U.S.


International

EQUITY

Passive

MANAGEMENT STYLE

8 bp

EXPENSES

$41.0 B

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorVanguard
CategoryInternational
Asset classEquity
Websitelink...
Inception dateMar 02, 2007
Assets (mns)$41,037
Expense ratio8 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyDelayed
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
VTB BANK OJSC 9.8 %
TAIWAN SEMICONDUCTOR MANUFAC 2.2 %
NOVO NORDISK A/S-B 1.3 %
ASML HOLDING NV 1.1 %
SAMSUNG ELECTRONICS CO LTD 0.9 %
TENCENT HOLDINGS LTD 0.9 %
NESTLE SA-REG 0.9 %
TOYOTA MOTOR CORP 0.8 %
SHELL PLC 0.7 %
ASTRAZENECA PLC 0.7 %
Constituent Breakdown
Number of holdings3850
Herfindahl-Hirschman Index 30
Wgt avg mkt cap (mns)$107,203
Large cap (>$10bn)82.2%
Mid cap ($2-10bn)16.0%
Small cap (<$2bn)1.4%
Developed mkts.71.6%
Emerging mkts.28.4%
Country Exposure
JAPAN 14.2 %
RUSSIA 10.0 %
BRITAIN 7.9 %
CHINA 5.8 %
SWITZERLAND 5.6 %
INDIA 5.1 %
FRANCE 5.0 %
CANADA 4.8 %
TAIWAN 4.7 %
GERMANY 4.6 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 5.7% 12.0% 12.2% 0.8% 6.0% 4.1% 3.5%
Volatility 11.2% 12.3% 15.7% 16.0% 19.5% 17.2% --
Market Correlations
versus...BetaR-squared
S&P 5000.7972%
MSCI EAFE0.9393%
MSCI Emg Mkts0.8580%
Liquidity Measures
Avg. volume (000)1,889
Turnover0.3%
Avg. Bid/Ask (% of price)0.02%
ADV of underlying (mns)$134,651
Technical Indicators
Recent close$59.50
30d moving avg.$59.00
Annualized volatility16.7%
Relative strength (RSI)56
Short interest (ETF)0.3%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: VEU vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.2 12.9 1.6 3.2% --
Based on closing prices from 7/19/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
VEU



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

VEU

6.9%

Cat. Avg

7.1%

Fund Category: International

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™6.9%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

Category Overview
There are 258 funds in the International category, with an average ALTAR Score™ of 7.1% and a standard deviation of 2.4%. VEU's ALTAR Score™ is approximately 0.1 standard deviations below the category average. This places VEU in the 47th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
VEU
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Passive
International Equity ETFs
# of ETFs 77
Avg. Expense Ratio 38.8 bp
Std. Deviation 21.2 bp
VEU (8 bp) Percentile rank 7
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
VEU 8.0 1.9 9.9
Peer Avg. 26.0 14.3 40.2
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .