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
47.0 B
ASSETS UNDER MGMT
4 bp
EXPENSES
Fund Basics
| Fund sponsor | Vanguard |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 02, 2007 |
| Assets (mns) | $46,998 |
| Expense ratio | 4 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Delayed |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 2.8 % |
| TENCENT HOLDINGS LTD | 1.5 % |
| ASML HOLDING NV | 0.9 % |
| SAP AG | 0.9 % |
| ALIBABA GROUP HOLDING LTD. | 0.8 % |
| ASTRAZENECA PLC | 0.7 % |
| SAMSUNG ELECTRONICS CO LTD | 0.7 % |
| NESTLE SA-REG | 0.7 % |
| NOVARTIS AG | 0.7 % |
| HSBC HOLDINGS PLC | 0.7 % |
Constituent Breakdown
| Number of holdings | 3826 |
| Herfindahl-Hirschman Index | 30 |
| Wgt avg mkt cap (mns) | $110,073 |
| Large cap (>$10bn) | 79.7% |
| Mid cap ($2-10bn) | 13.4% |
| Small cap (<$2bn) | 1.1% |
| Developed mkts. | 67.7% |
| Emerging mkts. | 27.7% |
Country Exposure
 |
JAPAN | 15.7 % |
 |
BRITAIN | 8.6 % |
 |
CHINA | 8.3 % |
 |
GERMANY | 5.8 % |
 |
SWITZERLAND | 5.7 % |
 |
CANADA | 5.7 % |
 |
FRANCE | 5.6 % |
 |
TAIWAN | 5.3 % |
 |
INDIA | 4.7 % |
 |
AUSTRALIA | 4.4 % |
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 16.0% | 10.8% | 8.6% | 8.8% | 6.1% | 3.2% | -- | 1.5% |
| Dividend Yield | 0.4% | 0.8% | 2.2% | 2.6% | 2.8% | 2.8% | -- | 2.7% |
| Total Returns | 16.4% | 11.6% | 10.8% | 11.4% | 8.9% | 6.1% | -- | 4.2% | Ann. Volatility | 18.6% | 17.1% | 14.7% | 15.7% | 16.0% | 17.5% | -- | 22.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.80 | 62% |
| MSCI EAFE | 0.85 | 78% |
| MSCI Emg Mkts | 0.78 | 70% |
Liquidity Measures
| Avg. volume (000) | 2,824 |
| ADV traded (mns) | $197 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.02% |
Technical Indicators
| Recent close | $69.67 |
| 30d moving avg. | $68.19 |
| Annualized volatility | 15.6% |
| Relative strength (RSI) | 64 |
| Short interest | 1.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| VXUS | Vanguard Total International Stock ETF | 86.4% | +1 bp | +7.8% |
| ACWX | iShares MSCI ACWI ex U.S. ETF | 85.5% | +30 bp | +7.6% |
| IXUS | iShares Core MSCI Total International Stock ETF | 83.3% | +3 bp | +7.8% |
| GXUS | Goldman Sachs MarketBeta Total International Equity ETF | 77.9% | +14 bp | +7.5% |
| DBAW | Xtrackers MSCI All World ex US Hedged Equity ETF | 76.8% | +37 bp | +7.4% |
| CWI | SPDR MSCI ACWI ex-US ETF | 70.6% | +26 bp | +7.5% |
| VEA | Vanguard FTSE Developed Markets ETF | 69.8% | -1 bp | +7.0% |
| VSGX | Vanguard ESG International Stock ETF | 69.0% | +6 bp | +7.7% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 67.7% | -1 bp | +6.9% |
| SCHF | Schwab International Equity ETF | 65.9% | +2 bp | +7.2% |
Risk and Returns: VEU vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 | --% |
Based on closing prices from 8/26/2025
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
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 Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
VEU
8.0%
Cat. Avg
7.0%
ALTAR Score™ Calculation
Category Overview
There are 264 funds in the International Equity category, with an average ALTAR Score™
of 7.0% and a standard deviation of
1.8%. VEU's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places VEU in the 71st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
VEUSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive International Equity ETFs |
| # of ETFs | 77 |
| Avg. Expense Ratio | 38.8 bp |
| Std. Deviation | 21.2 bp |
| (4 bp) Percentile rank | 5 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VEU | 4.0 | 0.0 | 4 |
| Peer Avg. | 26.2 | 13.5 | 39.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .