Vanguard All-World ex-US Shares Index ETF vs Vanguard MSCI Index International Shares (Hedged) ETF
Overlap is calculated from each fund's full published holdings list. Where there are no shared listed holdings it is shown as not reliably estimable.
Vanguard All-World ex-US Shares Index ETF
Vanguard
Vanguard MSCI Index International Shares (Hedged) ETF
Vanguard
Comparison scores reflect how each ETF compares to the other on these specific dimensions only. They are not absolute ratings or recommendations.
VEU and VGAD are both Global Broad Market ETFs. VEU tracks the FTSE All-World ex US Index and VGAD tracks the MSCI World ex-Australia (Hedged into AUD). VEU has the lower management fee (0.04% vs 0.21% p.a.). Holdings overlap is approximately 26% (full holdings data).
Key differences at a glance
VEU and VGAD suit different goals rather than one being "better" than the other. The clearest differences:
Category scores compare these two ETFs only and are not absolute ratings.
VEU has the lower management fee - the one objective "cheaper" axis.
VGAD is the larger fund. Larger is not inherently better, but greater scale can support tighter spreads and lower closure risk.
VEU and VGAD offer similar breadth of exposure.
VEU distributes approximately 2.4% and VGAD approximately 1.5%; VEU carries the higher estimated distribution yield. A higher yield may suit an income focus; a lower one may suit a growth or tax-efficiency focus. Yields are estimates and are not guaranteed; past performance is not a reliable indicator of future returns.
Green highlights the factually lower fee or higher scale/income figure. Performance is never highlighted. Data from issuer disclosures, reviewed quarterly.
Yield figures are estimates based on recent distributions and may vary. Past distributions are not a reliable indicator of future distributions.
Past performance is not a reliable indicator of future returns.
Top shared holdings ranked by overlap contribution, the smaller of each company's weight in the two funds. Basis: full holdings data.
Top 10 listed holdings for each fund, from issuer disclosures.
VEU top holdings
VGAD top holdings
Based on each fund's most recently published sector and geographic weightings; figures are approximate. Full breakdowns are shown below.
Sector weights for VGADare approximate, inferred from the fund's category.
VEU sectors
VGAD sectors
VEU geography
VGAD geography
VEU and VGAD can each make sense depending on your objectives, horizon and existing portfolio. The key differences are near the top of this page, and the full side-by-side data is below.
VEU and VGAD have approximately 26% holdings overlap, based on each fund's full published holdings list. This is considered low overlap.
VEU has the lower management fee. VEU charges 0.04% per year ($4 per year on a $10,000 investment) and VGAD charges 0.21% per year ($21 per year on a $10,000 investment). The difference is $17 per year per $10,000 invested.
VEU (Vanguard All-World ex-US Shares Index ETF) manages approximately $5.5B and VGAD (Vanguard MSCI Index International Shares (Hedged) ETF) manages approximately $6.8B. Fund size can affect liquidity and bid-ask spreads but does not by itself change the management fee.
You can hold both, but with approximately 26% estimated holdings overlap the two funds hold mostly different companies, so they can be more complementary. Whether that suits you depends on your own objectives.
There is no universally right choice. It depends on your goals, time horizon and existing holdings. VEU charges 0.04% and VGAD charges 0.21%, so VEU has the lower management fee, and they have approximately 26% estimated holdings overlap. Compare their fees, holdings and sectors above and consider each fund's Product Disclosure Statement and Target Market Determination.
General information only.This comparison and the ETFLens tools on this page provide general information about two exchange-traded funds and do not take into account your personal objectives, financial situation or needs. It is not personal financial product or investment advice. ETFLens does not hold an Australian Financial Services Licence (AFSL). Holdings overlap is calculated from each fund's published holdings (full lists where the issuer publishes one, listed top holdings otherwise), and fee data is sourced from fund manager PDS documents and updated quarterly. Past performance is not a reliable indicator of future returns. Consider each fund's Product Disclosure Statement (PDS) and Target Market Determination (TMD), and seek advice from a registered tax agent or licensed financial adviser, before making investment decisions.
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