VSS
Vanguard FTSE All-World ex-US Small-Cap ETF
Vanguard FTSE All World ex-US Small-Cap ETF seeks to track the performance of a benchmark index that measures the investment return of both developed and emerging international small cap companies.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
10.0 B
ASSETS UNDER MGMT
8 bp
EXPENSES
Fund Basics
| Fund sponsor | Vanguard Group Inc/The |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 02, 2009 |
| Assets (mns) | $9,995 |
| Expense ratio | 8 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 +
| TOROMONT INDUSTRIES LTD | 0.3 % |
| CAPITAL POWER CORP | 0.2 % |
| ACCELLERON INDUSTRIES AG | 0.2 % |
| EQUINOX GOLD CORP. | 0.2 % |
| COLLIERS INTERNATIONAL GROUP INC. | 0.2 % |
| GAZTRANSPORT & TECHNIGAZ SA | 0.2 % |
| FINNING INTERNATIONAL INC | 0.2 % |
| LOTTOMATICA GROUP SPA | 0.2 % |
| OSISKO GOLD ROYALTIES LTD | 0.2 % |
| GAMES WORKSHOP GROUP PLC | 0.2 % |
Constituent Breakdown
| Number of holdings | 4856 |
| Herfindahl-Hirschman Index | 12 |
| Wgt avg mkt cap (mns) | $4,258 |
| Large cap (>$10bn) | 7.1% |
| Mid cap ($2-10bn) | 32.8% |
| Small cap (<$2bn) | 41.6% |
| Developed mkts. | 62.2% |
| Emerging mkts. | 20.5% |
Country Exposure
 |
JAPAN | 11.8 % |
 |
CANADA | 7.8 % |
 |
BRITAIN | 7.1 % |
 |
TAIWAN | 6.0 % |
 |
AUSTRALIA | 4.3 % |
 |
INDIA | 3.9 % |
 |
CHINA | 3.5 % |
 |
SOUTH KOREA | 3.4 % |
 |
SWITZERLAND | 2.5 % |
 |
SWEDEN | 2.4 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 24.4% | 18.5% | 18.7% | 14.0% | 6.8% | 4.1% | -- | 6.2% |
| Dividend Yield | 0.0% | 0.0% | 1.8% | 2.4% | 2.4% | 2.6% | -- | 2.7% |
| Total Returns | 24.4% | 18.5% | 20.5% | 16.3% | 9.2% | 6.7% | -- | 8.9% | Ann. Volatility | 15.9% | 15.6% | 14.6% | 15.0% | 16.3% | 17.2% | -- | 18.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.85 | 55% |
| MSCI EAFE | 0.74 | 54% |
| MSCI Emg Mkts | 0.67 | 52% |
Liquidity Measures
| Avg. volume (000) | 269 |
| ADV traded (mns) | $38 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.07% |
Technical Indicators
| Recent close | $142.36 |
| 30d moving avg. | $142.68 |
| Annualized volatility | 14.9% |
| Relative strength (RSI) | 53 |
| Short interest | 0.3% |
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. |
|---|---|---|---|---|
| SCHC | Schwab International Small-Cap Equity ETF | 52.7% | +3 bp | +7.4% |
| SCZ | iShares MSCI EAFE Small-Cap ETF | 39.4% | +32 bp | +6.8% |
| DFIS | Dimensional International Small Cap ETF | 35.0% | +31 bp | +7.0% |
| AVDS | Avantis International Small Cap Equity ETF | 33.5% | +22 bp | +6.9% |
| PDN | Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF | 31.8% | +41 bp | +6.9% |
| FNDC | Schwab Fundamental International Small Co. Index ETF | 28.6% | +31 bp | +5.8% |
| IEUS | iShares MSCI Europe Small-Cap ETF | 26.0% | +34 bp | +7.2% |
| GWX | SPDR S&P International Small Cap ETF | 22.0% | +32 bp | +6.7% |
| ISCF | iShares International SmallCap Equity Factor ETF | 20.2% | +15 bp | +8.0% |
| DXIV | Dimensional International Vector Equity ETF | 18.1% | +26 bp | +7.5% |
Risk and Returns: VSS 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 11/2/2025
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
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.
ALTAR Score™
VSS
7.1%
Cat. Avg
6.8%
ALTAR Score™ Calculation
Category Overview
There are 265 funds in the International Equity category, with an average ALTAR Score™
of 6.8% and a standard deviation of
1.8%. VSS's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places VSS in the 57th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
VSSSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 145 |
| Avg. Expense Ratio | 43.1 bp |
| Std. Deviation | 25.2 bp |
| VSS (8 bp) Percentile rank | 8 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VSS | 8.0 | 6.7 | 14.7 |
| Peer Avg. | 43.1 | 33.8 | 76.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .