Vanguard ETFs Australia 2026: The Complete Guide

Last updated: Q2 2026. Fund fees and sizes on this page reflect publicly available information as at Q2 2026, sourced from each issuer's published disclosure documents and reviewed quarterly. Always verify current figures directly with Vanguard at vanguard.com.au before making any investment decisions.

Vanguard manages more Australian ETF money than any other provider. As of March 2026, that figure sits at $90.6 billion, which is 27.5% of the entire Australian ETF market. If you invest in ETFs in Australia, there is a strong chance you already own at least one Vanguard fund, or you are thinking about it.

This guide covers every Vanguard ETF available on the ASX in 2026. For each fund you will find the management fee, fund size, what it actually holds, and who it suits. There is no ranking, no best pick, and no financial advice here. This is a reference guide to help you understand what each fund does before you do your own research.

Why Vanguard dominates the Australian ETF market

Vanguard's position in Australia comes down to a few things that compound over time.

First, fees. Vanguard was built on the premise that low costs beat high costs over the long run, and their Australian range reflects that. VAS charges 0.07% per year. VGS charges 0.18%. These are among the cheapest funds in their categories globally, not just in Australia.

Second, scale. Vanguard's Australian ETF range sits inside a much larger global fund structure. When you buy VGS, the ASX-listed ETF size is $15.5B, but the total fund size including all share classes is materially larger. That scale means tighter spreads, lower transaction costs, and a more stable fund.

Third, structure. Vanguard is owned by its US fund investors, not by shareholders. That structure removes the profit motive that drives fees up at most fund managers. It does not guarantee future fees will stay low, but it creates different incentives than a listed company trying to grow earnings.

Australian shares ETFs

VAS, Vanguard Australian Shares Index ETF

VAS is the largest ETF in Australia and the one most Australian investors encounter first.

Management fee	0.07% p.a.
ETF size	$24.3 billion
Holdings	316
Benchmark	S&P/ASX 300 Index
Distribution frequency	Quarterly
Dividend yield (equity)	3.3%
ASX listed	May 2009

VAS tracks the S&P/ASX 300 Index, which covers the 300 largest companies listed on the ASX plus A-REITs. The top holdings as of Q2 2026 are Commonwealth Bank of Australia (10.68%), BHP Group Limited (10.03%), Westpac Banking Corporation (4.84%), National Australia Bank Limited (4.5%), ANZ Group Holdings Limited (4.06%), Macquarie Group Limited (3.06%), Wesfarmers Limited (3.04%), Woodside Energy Group Limited (2.34%), Rio Tinto Limited (2.29%), Goodman Group (2.22%). The top 10 holdings represent about 47% of the total fund. For a full breakdown of holdings, fees, distributions and franking treatment, see the VAS ETF review.

That concentration is worth understanding. The ASX 300 is heavily weighted toward financials and resources, which means VAS is too. If those sectors underperform global equities, VAS will underperform too. That is not a flaw in VAS, it is just what the Australian sharemarket looks like.

VAS pays quarterly distributions and includes franking credits, which is one of its most practical advantages for Australian tax residents.

Who typically uses VAS: Long-term investors who want broad exposure to Australian shares at a very low cost. It is commonly paired with VGS to create a simple two-ETF portfolio.

Closest alternatives on the ASX: A200 (0.04% MER, tracks ASX 200), IOZ (0.05% MER, also ASX 200).

VHY, Vanguard Australian Shares High Yield ETF

Management fee	0.25% p.a.
ETF size	$7.2 billion
Holdings	73
Benchmark	FTSE Australia High Dividend Yield Index
Distribution frequency	Quarterly
ASX listed	May 2011

VHY targets ASX-listed companies with higher forecast dividend yields than the broader market. It excludes A-REITs and caps any single industry at 40% of the fund and any single company at 10%. With only 73 holdings compared to VAS's 316, VHY is a more concentrated bet on income-producing sectors. For a full breakdown of yield, franking and holdings, see the VHY ETF review.

Who typically uses VHY: Investors in or approaching retirement who prioritise income over total return, or those who specifically want to maximise franking credits from dividend-heavy Australian companies.

VETH, Vanguard Ethically Conscious Australian Shares ETF

Management fee	0.16% p.a.
ETF size	$624 million
Holdings	229
Benchmark	FTSE Australia 300 Choice Index
Distribution frequency	Quarterly
ASX listed	October 2020

VETH is essentially VAS with a filter applied. It tracks the FTSE Australia 300 Choice Index, which excludes companies involved in fossil fuel extraction, gambling, weapons, tobacco, alcohol, and certain other activities as determined by FTSE Russell's screening methodology. The result is 229 holdings instead of VAS's 316, at a fee of 0.16% versus VAS's 0.07%.

Who typically uses VETH: Investors who want broad Australian equity exposure but want to avoid the sectors covered by the ethical screen.

VLC, Vanguard MSCI Australian Large Companies Index ETF

Management fee	0.2% p.a.
ETF size	$309.1 million
Holdings	15
Benchmark	MSCI Australian Shares Large Cap Index
Distribution frequency	Quarterly

VLC holds only the largest companies on the ASX. Commonwealth Bank alone is 19.23% of the fund. VLC is a niche product and the $309.1 million fund size reflects that.

VSO, Vanguard MSCI Australian Small Companies Index ETF

Management fee	0.3% p.a.
ETF size	$1.1 billion
Holdings	188
Benchmark	MSCI Australian Shares Small Cap Index
Distribution frequency	Semi-annually

VSO gives exposure to smaller ASX-listed companies not included in large-cap indexes like the S&P/ASX 100. Small-cap Australian stocks tend to be more volatile than large caps, which is why VSO charges 0.3%.

Who typically uses VSO: Investors who want a deliberate small-cap tilt in their Australian equity allocation, usually as a complement to VAS rather than a replacement.

VAP, Vanguard Australian Property Securities Index ETF

Management fee	0.23% p.a.
ETF size	$3.0 billion
Holdings	28
Benchmark	S&P/ASX 300 A-REIT Index
Distribution frequency	Quarterly

VAP gives exposure to Australian Real Estate Investment Trusts (A-REITs) listed on the ASX. The largest holding is Goodman Group at 38.96%, followed by Scentre Group, Stockland, Charter Hall, and GPT Group. With 28 holdings and one stock at 38.96%, VAP is highly concentrated. Goodman is an industrial logistics REIT, so VAP's sector exposure is different from what many people expect when they think of Australian property.

International shares ETFs

VGS, Vanguard MSCI Index International Shares ETF

VGS is the international counterpart to VAS and the second-largest ETF on the ASX.

Management fee	0.18% p.a.
ETF size	$15.5 billion
Holdings	1,252
Benchmark	MSCI World ex-Australia Index
Distribution frequency	Quarterly
ASX listed	November 2014

VGS tracks the MSCI World ex-Australia Index, covering approximately 1,252 large and mid-cap companies across 23 developed markets. The fund explicitly excludes Australia, so it complements VAS rather than overlapping with it. For a full breakdown of holdings, currency risk and historical returns, see the VGS ETF review.

The top holdings as of Q2 2026 are NVIDIA Corporation (5.6%), Apple Inc. (4.61%), Microsoft Corporation (3.33%), Amazon.com Inc. (2.95%), Alphabet Inc. (2.59%), Broadcom Inc. (2.17%), Meta Platforms Inc. (1.54%), Tesla Inc. (1.25%), JPMorgan Chase & Co. (0.87%), Eli Lilly and Company (0.87%). The fund has heavy US exposure because the US represents roughly 70% of developed market capitalisation.

VGS is unhedged, meaning your returns will be affected by changes in the AUD/USD exchange rate. When the Australian dollar falls, VGS returns look better in AUD terms.

Who typically uses VGS: Investors who want broad international developed market exposure paired with VAS to build a simple two-ETF core portfolio. It is one of the most widely held ETFs in Australia.

Closest alternatives: BGBL (0.08% MER, tracks FTSE Developed ex Australia Index), IVV (0.04% MER, US only).

VGAD, Vanguard MSCI Index International Shares (Hedged) ETF

Management fee	0.21% p.a.
ETF size	$6.8 billion
Holdings	1,252
Benchmark	MSCI World ex-Australia Index (hedged to AUD)
Distribution frequency	Semi-annually

VGAD holds exactly the same underlying stocks as VGS but with currency hedging applied. The hedging eliminates most of the exchange rate effect. Neither fund is inherently better, the choice between VGS and VGAD depends on your view of currency risk.

VESG, Vanguard Ethically Conscious International Shares Index ETF

Management fee	0.18% p.a.
ETF size	$1.4 billion
Holdings	1,381
Benchmark	FTSE Developed ex-Australia Choice Index
Distribution frequency	Quarterly

VESG is to VGS what VETH is to VAS, international developed market exposure with an ethical screen applied. At 0.18% it is priced in line with VGS at 0.18%, making it one of the cheapest ethical international ETFs in Australia.

VGE, Vanguard FTSE Emerging Markets Shares ETF

Management fee	0.48% p.a.
ETF size	$1.9 billion
Benchmark	FTSE Emerging Markets All Cap China A Inclusion Index
Distribution frequency	Quarterly

VGE gives exposure to emerging markets including China, India, Taiwan, South Korea, and Brazil. The top holdings include Taiwan Semiconductor Manufacturing Co., Ltd. (14.02%), Tencent Holdings Limited (3.13%), Alibaba Group Holding Limited (2.45%). Emerging markets carry higher political and currency risk than developed markets, reflected in the 0.48% fee.

VTS, Vanguard US Total Market Shares Index ETF

Management fee	0.03% p.a.
ETF size	$6.7 billion (ASX CDI)
Holdings	3,383
Benchmark	CRSP US Total Market Index
Distribution frequency	Quarterly

VTS is a US-domiciled fund listed on the ASX as a CHESS Depositary Interest (CDI), not an Australian-domiciled ETF. At 0.03% it has the lowest fee of any Vanguard ETF on the ASX, covering the entire US market including large, mid, small, and micro-cap stocks.

The tax considerations for VTS include potential US estate tax exposure for Australians with holdings above $60,000 USD and a W-8BEN form requirement. Speak to a tax professional about your specific situation. No DRP is available.

VEU, Vanguard All-World ex-US Shares Index ETF

Management fee	0.04% p.a.
ETF size	$0 million (ASX CDI)
Holdings	3,597
Benchmark	FTSE All World ex-US Index
Distribution frequency	Quarterly

VEU is also a US-domiciled CDI covering the rest of the world excluding the US. The same US tax considerations that apply to VTS apply to VEU. VTS and VEU are sometimes held together as an alternative to VGS, but the tax complexity means this approach is not for everyone.

VISM, Vanguard MSCI International Small Companies Index ETF

Management fee	0.32% p.a.
ETF size	$842.4 million
Holdings	3,645
Benchmark	MSCI World ex-Australia Small Cap Index

VISM gives exposure to smaller international companies across developed markets, complementing VGS in the same way VSO complements VAS.

VEQ, Vanguard FTSE Europe Shares ETF

Management fee	0.35% p.a.
ETF size	$580 million
Benchmark	FTSE Developed Europe All Cap Index

VEQ invests in the Vanguard FTSE Europe ETF (NYSE: VGK) and provides targeted exposure to European developed markets. Top holdings include ASML, Roche, AstraZeneca, HSBC, Novartis, Nestle, SAP, Shell, Siemens, and LVMH. VEQ is a regional tilt, not a global diversifier.

VAE, Vanguard FTSE Asia ex Japan Shares Index ETF

Management fee	0.4% p.a.
ETF size	$814 million
Holdings	1,733
Benchmark	FTSE Asia Pacific ex Japan, Australia and New Zealand Net Index

VAE focuses on Asia Pacific markets excluding Japan, Australia, and New Zealand, primarily China, Taiwan, South Korea, India, and Hong Kong. The top holdings include Taiwan Semiconductor Manufacturing Co., Ltd. (14.28%), Samsung Electronics Co., Ltd. (6.11%), SK hynix Inc. (4.09%).

Fixed income ETFs

VAF, Vanguard Australian Fixed Interest Index ETF

Management fee	0.1% p.a.
ETF size	$3.5 billion
Holdings	843
Benchmark	Bloomberg AusBond Composite 0+ Year Index
Distribution frequency	Quarterly

VAF is the standard choice for Australian investors who want bond exposure. It holds Australian government and corporate bonds, with the Commonwealth of Australia as the largest issuer at 46.8%. Bond ETFs like VAF tend to move in the opposite direction to interest rates.

VGB, Vanguard Australian Government Bond Index ETF

Management fee	0.16% p.a.
ETF size	$1.3 billion
Holdings	166
Benchmark	Bloomberg AusBond Government 0+ Year Index

VGB focuses specifically on Australian government bonds, excluding corporate bonds. It is more interest-rate sensitive than VAF because government bonds tend to have longer durations.

VACF, Vanguard Australian Corporate Fixed Interest Index ETF

Management fee	0.2% p.a.
ETF size	$695.4 million
Holdings	547
Benchmark	Bloomberg AusBond Credit 0+ Year Index

VACF holds Australian corporate bonds. Corporate bonds offer higher yields than government bonds but come with more credit risk. The top issuers include CPPIB Capital, NAB, Westpac, and Commonwealth Bank.

VBND, Vanguard Global Aggregate Bond Index (Hedged) ETF

Management fee	0.2% p.a.
ETF size	$4.3 billion
Holdings	14,411
Benchmark	Bloomberg Global Aggregate Float-Adjusted and Scaled Index (hedged to AUD)

VBND holds 13,499 bonds from governments and corporations across global markets, hedged to Australian dollars. It is the global bond building block used inside VDHG and the other diversified Vanguard ETFs.

VIF, Vanguard International Fixed Interest Index (Hedged) ETF

Management fee	0.2% p.a.
ETF size	$941 million
Holdings	1,861
Benchmark	Bloomberg Global Treasury Scaled Index (hedged to AUD)

VIF focuses on government bonds from developed markets, excluding corporate bonds. The US (39.4%), Japan (15.9%), the UK (6.3%), and France (6.3%) are the four largest country exposures.

VCF, Vanguard International Credit Securities Index (Hedged) ETF

Management fee	0.3% p.a.
ETF size	$170 million
Holdings	6,356
Benchmark	Bloomberg Global Aggregate Corporate and Government-Related Scaled Index (hedged to AUD)

VCF is the smallest of the Vanguard fixed income ETFs. It focuses on international corporate and government-related bonds hedged to AUD.

Diversified ETFs

The diversified Vanguard ETFs are single-fund portfolios that hold a pre-set mix of growth and defensive assets. Each one invests in a range of underlying Vanguard index funds and automatically rebalances. VDCO, VDBA, VDGR, VDHG and VDAL all charge 0.27% per year; VDIF charges 0.32%.

VDCO, Vanguard Diversified Conservative Index ETF

Management fee	0.27% p.a.
ETF size	$288 million
Asset mix	Approximately 30% growth, 70% defensive

VDCO is the most conservative of the Vanguard diversified range. The largest underlying holdings as at Q2 2026 are Vanguard Global Aggregate Bond Index Fund Hedged (36.95%), Vanguard Australian Fixed Interest Index Fund (16.25%), Vanguard Australian Shares Index Fund (10.32%), Vanguard Cash Reserve Fund (9.78%).

VDBA, Vanguard Diversified Balanced Index ETF

Management fee	0.27% p.a.
ETF size	$881 million
Asset mix	Approximately 50% growth, 50% defensive

VDBA sits in the middle of the diversified range. The largest underlying holdings as at Q2 2026 are Vanguard Global Aggregate Bond Index Fund Hedged (28.27%), Vanguard Australian Shares Index Fund (17.97%), Vanguard International Shares Index Fund (13.39%), Vanguard Australian Fixed Interest Index Fund (12.67%).

VDGR, Vanguard Diversified Growth Index ETF

Management fee	0.27% p.a.
ETF size	$1.4 billion
Asset mix	Approximately 70% growth, 30% defensive

VDGR tilts toward growth assets while keeping some defensive exposure. The largest underlying holdings as at Q2 2026 are Vanguard Australian Shares Index Fund (24.83%), Vanguard International Shares Index Fund (19.1%), Vanguard Global Aggregate Bond Index Fund Hedged (15.12%), Vanguard International Shares Index Fund Hedged (12.04%).

VDHG, Vanguard Diversified High Growth Index ETF

Management fee	0.27% p.a.
ETF size	$3.7 billion
Asset mix	Approximately 90% growth, 10% defensive
ASX listed	November 2017

VDHG is the most widely held of the diversified range and one of the most discussed ETFs on Australian investing forums. It holds around 90% in growth assets and approximately 10% in fixed income. That 10% bond allocation is frequently debated, some investors prefer the bonds-free DHHF, while others see the small defensive buffer as useful. For a full breakdown of underlying funds, fees and distributions, see the VDHG ETF review.

VDHG automatically rebalances because all underlying funds are held inside the one structure. One consideration: VDHG distributes the income from all its underlying funds, which can create a larger tax distribution than you might expect from a growth-oriented fund.

Closest alternatives: DHHF (Betashares Diversified All Growth ETF, 0.19% MER, no bonds), VDAL (Vanguard's own 100% growth option, 0.27% MER).

VDAL, Vanguard Diversified All Growth Index ETF

Management fee	0.27% p.a.
ETF size	$339.4 million
Asset mix	100% growth
ASX listed	March 2025

VDAL launched in March 2025 and holds 100% growth assets with no bond allocation. The largest underlying holdings as at Q2 2026 are Vanguard Australian Shares Index ETF (36.15%), Vanguard MSCI Index International Shares ETF (27.14%), Vanguard MSCI Index International Shares Hedged ETF (16.44%), Vanguard MSCI International Small Companies Index ETF (5.65%), Vanguard Emerging Markets Shares Index Fund (5.42%). Given the March 2025 launch date, there is limited performance history available yet.

VDIF, Vanguard Diversified Income ETF

Management fee	0.32% p.a.
ETF size	$40 million
ASX listed	March 2025

VDIF is Vanguard's newest diversified product and the only one focused on income rather than total return. It blends Australian high dividend shares, international high dividend shares, and fixed income. At $40 million it is very new and small, and should be assessed carefully given its limited track record.

Infrastructure and active ETFs

VBLD, Vanguard Global Infrastructure Index ETF

Management fee	0.47% p.a.
ETF size	$608.4 million
Holdings	136
Benchmark	FTSE Developed Core Infrastructure Index

VBLD gives exposure to listed infrastructure companies globally, utilities, toll roads, airports, pipelines, and communications towers. Top holdings include NextEra Energy, Union Pacific, Enbridge, Southern Company, and Duke Energy. Infrastructure companies tend to generate stable cash flows and have some inflation linkage.

VMIN, Vanguard Global Minimum Volatility Active ETF

Management fee	0.28% p.a.
ETF size	$14 million
Holdings	191

VMIN is an actively managed fund that uses a quantitative model to construct a portfolio targeting lower volatility than the broad global equity market. The benchmark (FTSE Global All Cap Index) is used for reference only, not tracking.

VVLU, Vanguard Global Value Equity Active ETF

Management fee	0.28% p.a.
ETF size	$1.1 billion
Holdings	937

VVLU uses a quantitative model to identify companies trading below what the model estimates as fair value based on their fundamentals. At $1.1 billion in ETF size, VVLU is unusually small for a listed fund, investors should be aware of this when assessing long-term viability.

All 36 Vanguard ETFs covered by ETFLens

Ticker	Name	MER	ETF Size	Category
VAS	Australian Shares Index	0.07% p.a.	$24.3B	Australian shares
VHY	Australian Shares High Yield	0.25% p.a.	$7.2B	Australian shares
VETH	Ethically Conscious Australian Shares	0.16% p.a.	$624M	Australian shares
VLC	MSCI Australian Large Companies	0.2% p.a.	$309.1M	Australian shares
VSO	MSCI Australian Small Companies	0.3% p.a.	$1.1B	Australian shares
VAP	Australian Property Securities	0.23% p.a.	$3.0B	Property
VGS	MSCI International Shares	0.18% p.a.	$15.5B	International shares
VGAD	MSCI International Shares (Hedged)	0.21% p.a.	$6.8B	International shares (hedged)
VESG	Ethically Conscious International Shares	0.18% p.a.	$1.4B	International shares
VGE	FTSE Emerging Markets Shares	0.48% p.a.	$1.9B	Emerging markets
VTS	US Total Market Shares (CDI)	0.03% p.a.	$6.7B	US shares
VEU	All-World ex-US Shares (CDI)	0.04% p.a.	Not available	International shares
VISM	MSCI International Small Companies	0.32% p.a.	$842.4M	International small cap
VEQ	FTSE Europe Shares	0.35% p.a.	$580M	European shares
VAE	FTSE Asia ex Japan	0.4% p.a.	$814M	Asian shares
VAF	Australian Fixed Interest	0.1% p.a.	$3.5B	Australian bonds
VGB	Australian Government Bond	0.16% p.a.	$1.3B	Australian government bonds
VACF	Australian Corporate Fixed Interest	0.2% p.a.	$695.4M	Australian corporate bonds
VBND	Global Aggregate Bond (Hedged)	0.2% p.a.	$4.3B	Global bonds
VIF	International Fixed Interest (Hedged)	0.2% p.a.	$941M	International government bonds
VCF	International Credit Securities (Hedged)	0.3% p.a.	$170M	International corporate bonds
VDCO	Diversified Conservative	0.27% p.a.	$288M	Diversified (30/70)
VDBA	Diversified Balanced	0.27% p.a.	$881M	Diversified (50/50)
VDGR	Diversified Growth	0.27% p.a.	$1.4B	Diversified (70/30)
VDHG	Diversified High Growth	0.27% p.a.	$3.7B	Diversified (90/10)
VDAL	Diversified All Growth	0.27% p.a.	$339.4M	Diversified (100% growth)
VDIF	Diversified Income	0.32% p.a.	$40M	Diversified income
VBLD	Global Infrastructure	0.47% p.a.	$608.4M	Infrastructure
VMIN	Global Minimum Volatility (Active)	0.28% p.a.	$14M	Active
VVLU	Global Value Equity (Active)	0.28% p.a.	$1.1B	Active

ETF size figures are sourced from Vanguard's official December 2025 "ETFs at a Glance" document and the March 2026 VAS fact sheet. Fund sizes change daily with market movements and investor flows.

Before you invest

Every Vanguard ETF listed in this guide has a Product Disclosure Statement (PDS) and Target Market Determination (TMD) available at vanguard.com.au. Reading the PDS before investing is not just a legal formality, it is the most direct way to understand what you are buying.

Past performance figures referenced in this article are from Vanguard's official December 2025 "ETFs at a Glance" document and the March 2026 VAS fact sheet. Past performance is not a reliable indicator of future returns. All investments carry risk including the possible loss of capital.

Check how your Vanguard ETFs fit together

If you hold more than one Vanguard ETF, or a mix of Vanguard and other providers, it is worth understanding how much overlap exists between your holdings. Use the ETFLens overlap checker to see exactly how your ETFs combine before making any changes to your portfolio.

Not financial advice.