Vanguard All-World ex US Shares Index ETF
Performance
Total return to 23 Oct 2026, distributions reinvested, before franking. ASX figures are to 30 Sept 2026 and gross of franking, so they run higher for franked Australian funds.
What it costs to hold
Management fee plus trading costs, compared with similar funds.
A typical fund among United States equity funds would cost $191 (0.38% a year), so VEU is $167 cheaper.
Spread is the average gap between buying and selling prices on the ASX. Fees are shown on a flat balance, not compounded on growth. Excludes tax and any adviser or platform fees.
Calendar-year returns
Where the money is
Look-through exposure as at 31 July 2026 · 987 securities · top 10 = 14.0% · holdings coverage: most
Country
Sector
Monthly returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.8 | 2.9 | −7.7 | 4.0 | 6.3 | 3.7 | −2.0 | 0.4 | 1.0 | −4.2 | 5.4YTD | ||
| 2025 | 4.2 | 0.8 | −0.4 | 0.8 | 4.8 | 1.6 | 1.5 | 2.1 | 1.7 | 3.4 | 0.1 | 0.6 | 23.2 |
| 2024 | 2.8 | 3.7 | 2.9 | −1.2 | 0.7 | −0.1 | 3.9 | −1.3 | 1.7 | −0.2 | −0.3 | 2.6 | 16.1 |
| 2023 | 2.9 | 1.4 | 2.2 | 3.1 | −1.0 | 1.3 | 3.7 | −0.6 | −3.1 | −2.7 | 4.3 | 1.8 | 13.7 |
| 2022 | −0.6 | −5.6 | −1.2 | −2.0 | 0.2 | −4.5 | 1.8 | −1.3 | −5.2 | 4.7 | 6.2 | −0.7 | −8.7 |
| 2021 | 1.1 | −0.3 | 3.7 | 1.3 | 3.2 | 2.8 | −0.3 | 2.7 | −1.4 | −2.2 | 2.1 | 0.9 | 14.1 |
| 2020 | 2.5 | −5.8 | −10.9 | 4.2 | 0.8 | 0.9 | 0.3 | 2.5 | −0.4 | −0.3 | 8.6 | 0.8 | 1.9 |
| 2019 | 4.2 | 3.8 | 1.0 | 3.5 | −3.6 | 4.1 | 1.0 | −0.8 | 2.5 | 1.4 | 2.9 | 0.5 | 22.2 |
| 2018 | 2.4 | −1.3 | −1.0 | 3.8 | −2.1 | −0.5 | 2.4 | 0.7 | 1.4 | −8.2 | −0.5 | −1.6 | −4.9 |
| 2017 | −0.8 | 0.5 | 3.0 | 4.1 | 3.8 | −2.4 | −0.8 | 1.3 | 2.5 | 4.4 | 2.4 | −0.8 | 18.0 |
| 2016 | −5.6 | −1.3 | 1.6 | 1.9 | 5.3 | −5.7 | 3.8 | 2.1 | −1.1 | −0.3 | −0.8 | 5.5 | 4.7 |
| 2015 | 6.3 | 4.1 | 1.1 | 0.3 | 3.7 | −3.9 | 4.0 | −5.0 | −3.6 | 7.4 | −3.1 | −3.2 | 7.4 |
| 2014 | −3.1 | 2.8 | −2.8 | 0.7 | 1.7 | 0.8 | 1.3 | −0.9 | 1.6 | −1.5 | 5.0 | −0.5 | 4.9 |
| 2013 | 5.2 | −0.5 | −1.6 | 4.2 | 6.5 | −0.2 | 6.5 | −0.7 | 2.7 | 1.1 | 4.8 | 2.8 | 34.8 |
| 2012 | 3.4 | 4.9 | 1.2 | −0.9 | −5.8 | 0.8 | −0.8 | 3.2 | 3.1 | 0.3 | 0.7 | 2.1 | 12.4 |
| 2011 | 2.5 | 0.5 | −0.7 | −1.1 | −1.4 | −1.7 | −4.1 | −7.0 | −0.2 | 2.7 | −5.3 | −3.4 | −18.0 |
| 2010 | −5.1 | −0.5 | 4.2 | −1.5 | −3.0 | −1.1 | 3.4 | −2.7 | 2.6 | 2.2 | −1.7 | −0.8 | −4.4 |
| 2009 | −1.1 | 6.0 | 3.1 | 0.7 | −3.7 | 1.0 | 2.1 | 8.1 |
Total return each month in %, distributions reinvested, before franking. The latest month runs to the last price date. The first year starts from listing.
Top holdings
Most similar funds
Overlap is the share of the portfolio held in common, look-through. Correlation is of daily returns. High overlap means close substitutes.
VEU questions answered
Written from the latest data on this page. General information only, not financial advice.
How diversified is Vanguard All-World ex US Shares Index ETF?
Vanguard All-World ex US Shares Index ETF holds 987 securities, and its ten largest positions make up 14.0% of the fund, more spread out than the 37.6% typical of United States equity funds. That makes it widely diversified.
Its largest country exposure is Japan at 15.0%, and its biggest sector is Financials at 32.8%, based on holdings as at 31 July 2026.
Which ETFs does VEU double up with most?
VEU shares the most holdings with Betashares Global Shares EX US ETF (EXUS) (53% overlap), Vanguard International Shares High Yield ETF (VIHY) (49% overlap) and Vanguard FTSE Europe Shares ETF (VEQ) (34% overlap). Overlap is the share of the portfolio the two funds hold in common, looking through to the underlying securities.
At 53%, owning both VEU and EXUS would mostly double up on the same investments rather than spread your money further.
How is Vanguard All-World ex US Shares Index ETF managed – active or passive?
Vanguard All-World ex US Shares Index ETF is passively managed: it follows an index and holds what that index holds, rather than relying on a manager's stock picks.
Among United States equity funds, active funds charge a median 0.43% a year and index funds 0.32%.
What will I pay in fees for VEU?
VEU charges a management fee of 0.04% a year, about $4 for every $10,000 invested. That is cheaper than 99% of the 471 ASX ETFs we track, where the median fee is 0.44%. Among United States equity funds, the median is 0.35%.
Lower-cost funds with a similar focus include Vanguard US Total Market Shares Index ETF (VTS) at 0.03%.
The fee is taken from the fund's assets and is already reflected in its returns. You'll also pay brokerage when you buy or sell, and the bid-ask spread, which has averaged 0.04% for VEU.
Does Vanguard All-World ex US Shares Index ETF follow a theme?
No. Vanguard All-World ex US Shares Index ETF is a broad equity fund: it aims to cover a wide slice of its market (United States) rather than one theme or sector. Its largest sector, Financials, is 32.8% of the fund.
What is under the hood of VEU?
As at 31 July 2026, VEU's ten largest holdings are Taiwan Semiconductor Manufacturing Co Ltd (4.3%), Samsung Electronics Co Ltd (1.9%), ASML Holding NV (1.5%), SK hynix Inc (1.5%), Tencent Holdings Ltd (0.9%), HSBC Holdings PLC (0.9%), Roche Holding AG (0.7%), Royal Bank of Canada (0.7%), Novartis AG (0.7%) and Alibaba Group Holding Ltd (0.7%). Together they make up 14.0% of the fund.
It follows an index. Most broad share indices weight companies by market size, so the largest companies take the biggest share; the exact rules for VEU's index are in the issuer's PDS. Its top 10 weighting of 14.0% compares with 37.6% for similar funds.
How well has Vanguard All-World ex US Shares Index ETF performed?
Based on its category, Vanguard All-World ex US Shares Index ETF aims to grow your capital in line with the index it tracks.
To 23 Oct 2026, with distributions reinvested, it returned 6.1% over 1 year (median 7.0%; ranked 20 of 27), 16.5% a year over 3 years (median 16.2% a year; ranked 9 of 18) and 9.8% a year over 5 years (median 12.2% a year; ranked 9 of 11). The medians and rankings compare it with United States equity funds. Since listing in 2009 it has returned 7.8% a year.
Tracking difference is the gap between a fund's return and its index's return. We don't hold index returns, so we can't measure it for VEU; the issuer reports it in the monthly fact sheet. As a guide, a well-run index fund trails its index by about its fee, here 0.04% a year, and a much bigger gap is a warning sign.
Past performance is not a reliable indicator of future performance.