Vanguard MSCI Index International Shares (Hedged) ETF vs Vanguard MSCI Index International Shares 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.
VGS and VGAD track the same underlying index (the MSCI World ex-Australia Index) but differ in currency treatment.
Vanguard MSCI Index International Shares (Hedged) ETF
Vanguard
Vanguard MSCI Index International Shares ETF
Vanguard
Comparison scores reflect how each ETF compares to the other on these specific dimensions only. They are not absolute ratings or recommendations.
Key differences at a glance
VGAD and VGS 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.
VGS has the lower management fee - the one objective "cheaper" axis.
VGS is the larger fund. Larger is not inherently better, but greater scale can support tighter spreads and lower closure risk.
VGAD and VGS offer similar breadth of exposure.
VGAD distributes approximately 1.5% and VGS approximately 1.6%; VGS 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; sector and geography figures for some funds are category-inferred estimates, clearly labelled on each fund's page.
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.
VGAD top holdings
VGS top holdings
Sector weights for VGAD are approximate, inferred from the fund's category.
VGAD sectors
VGS sectors
VGAD geography
VGS geography
VGS and VGAD track the same underlying index (the MSCI World ex-Australia Index) but differ in currency treatment. VGS is unhedged, meaning its Australian dollar returns are affected by currency movements. VGAD is hedged back to Australian dollars, reducing currency risk but introducing hedging costs. The choice between the two depends on an investor's view on currency exposure, not on the underlying share market.
Investors deciding between hedged and unhedged global developed market exposure from the same index provider.
VGAD and VGS have approximately 99% holdings overlap, based on each fund's full published holdings list. This is considered high overlap.
VGS has the lower management fee. VGAD charges 0.21% per year ($21 per year on a $10,000 investment) and VGS charges 0.18% per year ($18 per year on a $10,000 investment). The difference is $3 per year per $10,000 invested.
VGAD (Vanguard MSCI Index International Shares (Hedged) ETF) manages approximately $6.8B and VGS (Vanguard MSCI Index International Shares ETF) manages approximately $17.2B. 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 99% estimated holdings overlap the two funds hold a high proportion of the same companies, so holding both means paying two sets of management fees on largely the same exposure. 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. VGAD charges 0.21% and VGS charges 0.18%, so VGS has the lower management fee, and they have approximately 99% 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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