Total International Stock Index Fund Institutional Shares (VTSNX)

OPTIONS as of
02/22/2018

Options Expense ratio Minimum
Admiral 0.11% N/A
Investor 0.17% N/A
Inst 0.09% $5.0 Million
Inst Plus 0.07% $100.0 Million
Inst Select 0.045% $3.0 Billion
ETF 0.11%

Vanguard ETF Shares can be bought and sold only through a broker (who may charge a commission) and cannot be redeemed with the issuing fund. The market price of Vanguard ETF Shares may be more or less than net asset value.

About our options  


 

Fees

A fee charged by some mutual funds when an investor buys shares. This fee is not a sales charge or load because it is paid directly to the fund to offset the costs of trading certain securities.

 None

A fee charged by some mutual funds when an investor sells shares. A redemption fee differs from a back-end load because the money is paid back into the fund. Many funds charge redemption fees only when shares are bought and then sold within a specific period of time, generally in an effort to discourage market-timing and short-term trading. Some brokers also charge their clients redemption fees for the sale of securities.

 None

KEY FACTS

Product typeInternational Large Blend
VTSNX
 inception on 11/29/2010
Earliest share class inception on 04/29/1996
$327.1 billion

This represents the total net assets for all share classes of Vanguard's U.S. funds, as well as any collective trust that shares the same investment strategy, management and holdings.

 as of 12/31/2018
$28.0 billion net assets for
VTSNX
 as of 12/31/2018
6,374 holdings as of 12/31/2018
Indexed to the FTSE Global All Cap ex US Index (TGPVAN17)
Turnover rate (Fiscal year-end  10/31/2018) 3.40%
CUSIP: 921909784

STYLEBOX

Stock


Diversified index portfolio of non-US stocks representing the major developed and emerging equity markets.



Central tendency
Expected range

How to read our stylebox  

Investment approach



  • Seeks to track the performance of the FTSE Global All Cap ex US Index.
  • Broad exposure across developed and emerging non-U.S. equity markets.
  • Passively managed.
  • Fund remains fully invested.
  • Low expenses minimize net tracking error.

Total returns

as of 12/31/2018

View as:

as of 12/31/2018

10%
0
-10
-20%
 
 
 
 
  1 year 3 year 5 year 10 year

11/29/2010

NAV 
– 14.39% 4.56% 0.97% 3.38%

Spliced Total International Stock Index

*
– 14.61% 4.44% 1.05%

In order to determine the performance of the fund prior to adjustments for fair value pricing, simply subtract the Fair value impact figure from the NAV performance figure. For example, by subtracting -0.09% from 18.23%, we arrive at a performance figure of 18.32% [18.23% - (-0.09%) = 18.32%].

0.27% 0.17% – 0.01%

Note: Fee adjusted for mutual funds where applicable.

* Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex USA IMI Index through June 2, 2013; and FTSE Global All Cap ex US Index thereafter. Benchmark returns are adjusted for withholding taxes.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited.


Regional exposure as of 12/31/2018

  Region  VTSNX

FTSE Global All Cap ex US Index

+/- Weight
Europe 41.4% 41.2% 0.2%
Pacific 29.6% 29.9% – 0.3%
Emerging Markets 21.8% 21.6% 0.2%
North America 6.3% 6.5% – 0.2%
Middle East 0.4% 0.4% 0.0%
Other 0.5% 0.4% 0.1%
0%
45%
Total 100.0% 100.0%  

Top 10 markets as of 12/31/2018

Market Region VTSNX

FTSE Global All Cap ex US Index

+/- Weight
Japan Pacific 17.4% 17.7% – 0.3%
United Kingdom Europe 11.9% 11.7% 0.2%
China Emerging Markets 6.8% 6.8% 0.0%
France Europe 6.5% 6.5% 0.0%
Canada North America 6.3% 6.5% – 0.2%
Germany Europe 5.7% 5.7% 0.0%
Switzerland Europe 5.5% 5.5% 0.0%
Australia Pacific 4.8% 4.8% 0.0%
Korea Pacific 3.5% 3.5% 0.0%
Taiwan Emerging Markets 3.2% 3.2% 0.0%
Top 10 equals 71.6% of stock

Market allocation details  

Sector weightings as of 12/31/2018

  Sector  VTSNX

FTSE Global All Cap ex US Index

+/- Weight
Financials 25.0% 25.0% 0.0%
Consumer Goods 14.4% 14.5% – 0.1%
Industrials 14.1% 14.1% 0.0%
Consumer Services 9.2% 9.2% 0.0%
Health Care 8.4% 8.3% 0.1%
Technology 8.0% 8.0% 0.0%
Basic Materials 7.1% 7.1% 0.0%
Oil & Gas 6.8% 6.8% 0.0%
Telecommunications 3.7% 3.7% 0.0%
Utilities 3.3% 3.3% 0.0%
Other 0.0% 0.0% 0.0%
0%
25%
Total 100.0% 100.0%

Sector categories are based on the Industry Classification Benchmark, except for the "Other" category (if applicable), which includes securities that have not been provided a Industry Classification Benchmark as of the effective reporting period.

Top 10 Equity Holdings as of 12/31/2018

Rank Holding
1 Royal Dutch Shell plc
2 Nestle SA
3 Tencent Holdings Ltd.
4 Samsung Electronics Co. Ltd.
5 Novartis AG
6 Roche Holding AG
7 Taiwan Semiconductor Manufacturing Co. Ltd.
8 HSBC Holdings plc
9 Alibaba Group Holding Ltd.
10 Toyota Motor Corp.
Top 10 equals 9.0% of net assets

Portfolio holdings may exclude any temporary cash investments and equity index products.

Fundamentals

Stock

as of 12/31/2018
VTSNX

FTSE Global All Cap ex US Index

Number of stock 6,374 6,001
Avg market cap $52.6 billion $52.7 billion
Median market cap $23.7 billion $23.7 billion
P/E ratio 12.0x 12.1x
P/B ratio 1.4x 1.4x
Turnover rate 3.4% Fiscal year end 10/2018 N/A
% Emerging 21.80% 21.60%
% Developed 78.20% 78.40%

Risk and volatility as of 12/31/2018

  VTSNX

Spliced Total International Stock Index

R-squared N/A 0.98
Beta N/A 0.97
Alpha 0.01 N/A
Standard deviation 11.31% 11.60%
Sharpe ratio 0.31 0.30

Risk and volatility are based on the share class with the earliest inception date.

Risk measures are calculated from trailing 36-month fund returns relative to the associated benchmarks.

An investment in the fund could lose money over short or even long periods. You should expect the fund’s share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The fund’s performance could be hurt by:

Stock market risk
: The chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. The fund’s investments in foreign stocks can be riskier than U.S. stock investments. Foreign stocks tend to be more volatile and less liquid than U.S. stocks. The prices of foreign stocks and the prices of U.S. stocks may move in opposite directions. In addition, the fund’s target index may, at times, become focused in stocks of a particular market sector, which would subject the fund to proportionately higher exposure to the risks of that sector.
Country/Regional risk: The chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value of securities issued by companies in foreign countries or regions. Because the fund may invest a large portion of its assets in securities of companies located in any one country or region, its performance may be hurt disproportionately by the poor performance of its investments in that area. Country/Regional risk is especially high in emerging markets.
Currency risk: The chance that the value of a foreign investment, measured in U.S. dollars, will decrease because of unfavorable changes in currency exchange rates.
Investment style risk: The chance that returns from small- and mid-capitalization stocks, to the extent that the fund invests in them, will trail returns from the overall stock market. Historically, these stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.
Emerging markets risk: The chance that the stocks of companies located in emerging markets will be substantially more volatile, and substantially less liquid, than the stocks of companies located in more developed foreign markets because, among other factors, emerging markets can have greater custodial and operational risks; less developed legal, tax, regulatory, and accounting systems; and greater political, social, and economic instability than developed markets.