VEXC
Vanguard Emerging Markets Ex-China ETF
Vanguard Emerging Markets Ex-China ETF seeks to provide broad exposure to emerging market equities, excluding companies in China, with the goal of tracking the performance of the FTSE Emerging Markets Ex China Index.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
$ 131.3 M
ASSETS UNDER MGMT
7 bp
EXPENSES
Fund Basics
| Fund sponsor | Vanguard |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 30, 2025 |
| Assets (mns) | $131 |
| Expense ratio | 7 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 21.0 % |
| RELIANCE INDUSTRIES LTD | 1.7 % |
| HDFC BANK LIMITED | 1.6 % |
| HON HAI PRECISION INDUSTRY | 1.2 % |
| MEDIATEK INC | 1.2 % |
| ICICI BANK LTD | 1.1 % |
| DELTA ELECTRONICS INC | 1.1 % |
| BHARTI AIRTEL LIMITED | 0.9 % |
| INFOSYS TECHNOLOGIES LTD | 0.9 % |
| VALE SA | 0.9 % |
Constituent Breakdown
| Number of holdings | 1033 |
| Herfindahl-Hirschman Index | 467 |
| Wgt avg mkt cap (mns) | $302,752 |
| Large cap (>$10bn) | 69.3% |
| Mid cap ($2-10bn) | 17.4% |
| Small cap (<$2bn) | 1.1% |
| Developed mkts. | 0.7% |
| Emerging mkts. | 90.6% |
Country Exposure
 |
TAIWAN | 35.7 % |
 |
INDIA | 22.1 % |
 |
BRAZIL | 6.5 % |
 |
SOUTH AFRICA | 4.9 % |
 |
SAUDI ARABIA | 4.7 % |
 |
MEXICO | 3.4 % |
 |
MALAYSIA | 2.3 % |
 |
UAE | 2.0 % |
 |
THAILAND | 1.6 % |
 |
TURKEY | 1.3 % |
Historical Performance
Standardized Performance (as of 01/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.6% | -- | -- | -- | -- | -- | -- | 10.2% |
| Dividend Yield | 0.0% | -- | -- | -- | -- | -- | -- | 0.5% |
| Total Returns | 5.6% | -- | -- | -- | -- | -- | -- | 10.7% | Ann. Volatility | 13.1% | -- | -- | -- | -- | -- | -- | 12.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 54 |
| ADV traded (mns) | $5 |
| Turnover | 3.7% |
| Avg. Bid/Ask (% of price) | 0.15% |
Technical Indicators
| 30d moving avg. (EMA) | $85.33 |
| Relative strength (RSI) | 68 |
| MACD/Signal | 1.60/1.60 |
| Bollinger Bands (Upper/Lower) | $89.45/$83.54 |
| Short interest (% of AUM) | 0.0% |
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. VEXC |
Expenses vs. VEXC |
ALTAR Score™ vs. VEXC |
|---|---|---|---|---|
| XCNY | SPDR S&P Emerging Markets ex-China ETF | 72.3% | +8 bp | -0.1% |
| EMXC | iShares MSCI Emerging Markets ex China ETF | 68.1% | +18 bp | -0.4% |
| STXE | Strive Emerging Markets Ex-China ETF | 60.0% | +25 bp | -0.2% |
| SCHE | Schwab Emerging Markets Equity ETF | 57.1% | +4 bp | +3.7% |
| VWO | Vanguard FTSE Emerging Markets ETF | 56.9% | 0 bp | +3.3% |
| XCEM | Columbia EM Core ex-China ETF | 52.9% | +9 bp | -0.3% |
| EEM | iShares MSCI Emerging Markets ETF | 50.9% | +62 bp | +2.4% |
| KEMX | KraneShares MSCI Emerging Markets EX China Index ETF | 50.0% | +17 bp | -0.2% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 49.9% | +8 bp | +2.5% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 49.7% | +23 bp | +2.6% |
Risk and Returns: VEXC 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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025 | 2026 | 2027 | |
| 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 2/26/2026
Peer Group Comparison Sample data. Subscribe for access.
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
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
VEXC
6.3%
Cat. Avg
7.4%
ALTAR Score™ Calculation
Category Overview
There are 201 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.4% and a standard deviation of
2.2%. VEXC's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places VEXC in the 31st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
VEXCSELL
U/W
HOLD
O/W
BUY