Investment objective & strategy
As of Feb. 27, 2026 · prospectusObjective. Vanguard FTSE All-World ex-US Small-Cap ETF, an exchange-traded share class of Vanguard FTSE All-World ex-US Small-Cap Index Fund (the Fund), seeks to track the performance of a benchmark index that measures the investment return of stocks of international small-cap companies.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the FTSE Global Small Cap ex US Index (the Target Index), a float-adjusted, market-capitalization-weighted index designed to measure equity market performance of international small-capitalization stocks. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics. The Fund employs an indexing investment approach designed to track the performance of the FTSE Global Small Cap ex US Index (the Target Index), a float-adjusted, market-capitalization-weighted index designed to measure equity market performance of international small-capitalization stocks. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Vanguard Market Liquidity Fund | — | $690.81M | 5.23% |
| Vanguard Market Liquidity Fund | — | $64.67M | 0.49% |
| PHISON ELEC | — | $45.70M | 0.35% |
| EQUINOX GOLD COR | — | $38.73M | 0.29% |
| TOROMONT INDS | — | $37.87M | 0.29% |
| IAMGOLD CORP | — | $36.19M | 0.27% |
| FIRST MAJESTIC S | — | $34.86M | 0.26% |
| ACCELLERON INDUS | — | $32.90M | 0.25% |
| HUDBAY MINERALS | — | $32.86M | 0.25% |
| ELDORADO GOLD | — | $31.57M | 0.24% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Schwab International Small-Cap Equity ETF · SCHC | 62% | 0.08% |
| iShares MSCI EAFE Small-Cap ETF · SCZ | 41% | 0.40% |
| Fidelity SAI International Small Cap Index Fund · FSISX | 41% | 0.10% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of February 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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