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
7 bp
EXPENSES
$9.1 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Vanguard Group Inc/The |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 02, 2009 |
| Assets (mns) | $9,090 |
| Expense ratio | 7 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 +
| MEYER BURGER TECHNOLOGY AG | 4.1 % |
| FILTRONA PLC | 1.8 % |
| GENIVAR INC | 0.6 % |
| RB GLOBAL | 0.4 % |
| TFI INTERNATIONAL INC. | 0.4 % |
| KINROSS GOLD CORP | 0.3 % |
| ARC RESOURCES LTD | 0.3 % |
| STANTEC INC | 0.3 % |
| EMERA INC | 0.3 % |
| DESCARTES SYSTEMS GRP/THE | 0.3 % |
Constituent Breakdown
| Number of holdings | 4706 |
| Herfindahl-Hirschman Index | 28 |
| Wgt avg mkt cap (mns) | $3,370 |
| Large cap (>$10bn) | 5.1% |
| Mid cap ($2-10bn) | 44.6% |
| Small cap (<$2bn) | 49.9% |
| Developed mkts. | 71.2% |
| Emerging mkts. | 28.8% |
Country Exposure
 |
CANADA | 12.9 % |
 |
JAPAN | 10.4 % |
 |
BRITAIN | 9.3 % |
 |
TAIWAN | 7.4 % |
 |
SWITZERLAND | 6.5 % |
 |
INDIA | 5.0 % |
 |
AUSTRALIA | 3.7 % |
 |
SOUTH KOREA | 3.0 % |
 |
SWEDEN | 2.8 % |
 |
CHINA | 2.3 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -0.4% | 8.6% | 9.4% | -2.4% | 4.8% | 3.2% | 7.8% | Volatility | 12.0% | 13.2% | 16.9% | 16.9% | 19.9% | 17.0% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.91 | 79% |
| MSCI EAFE | 1.04 | 96% |
| MSCI Emg Mkts | 0.87 | 69% |
Liquidity Measures
| Avg. volume (000) | 312 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.09% |
| ADV of underlying (mns) | $21,823 |
Technical Indicators
| Recent close | $118.40 |
| 30d moving avg. | $119.52 |
| Annualized volatility | 18.5% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 1.2% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. VSS |
Expenses vs. VSS |
ALTAR Score™ vs. VSS |
|---|---|---|---|---|
| SCHC | Schwab International Small-Cap Equity ETF | 57.5% | +4 bp | -0.1% |
| SCZ | iShares MSCI EAFE Small-Cap ETF | 40.4% | +33 bp | -0.2% |
| DFIS | Dimensional International Small Cap ETF | 35.2% | +32 bp | +0.0% |
| PDN | Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF | 31.0% | +42 bp | +0.1% |
| FNDC | Schwab Fundamental International Small Co. Index ETF | 28.6% | +32 bp | +0.6% |
| IEUS | iShares MSCI Europe Small-Cap ETF | 27.1% | +35 bp | -0.5% |
| GWX | SPDR S&P International Small Cap ETF | 23.9% | +33 bp | -0.2% |
| ISCF | iShares International SmallCap Equity Factor ETF | 19.5% | +16 bp | +2.4% |
| EEMS | iShares MSCI Emerging Markets Small Cap ETF | 18.2% | +63 bp | +0.9% |
| DISV | Dimensional International Small Cap Value ETF | 17.2% | +35 bp | +2.4% |
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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
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 | --% |
Based on closing prices from 7/25/2024
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
VSS
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™
VSS
6.4%
Cat. Avg
7.2%
Fund Category: International
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.4% |
Recommendation
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.
Category Overview
There are 258 funds in the International category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.4%. VSS's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places VSS in the 37th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
VSS
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| VSS (7 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) |
|
|---|---|---|---|
| VSS | 7.0 | 8.6 | 15.6 |
| Peer Avg. | 33.7 | 17.7 | 51.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .