FTSE All-World ex-US Small-Cap ETF (VSS)

OPTIONS as of
02/23/2018

Options Expense ratio Minimum
Investor 0.25% N/A
Inst 0.12% $5.0 Million
ETF 0.13%

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  


 

KEY FACTS

Product typeInternational Small/Mid Growth
VSS
 inception on 04/02/2009
$6.7 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 07/31/2018
$5.5 billion net assets for
VSS
 as of 07/31/2018
3,614 holdings as of 07/31/2018
Indexed to the FTSE Global Small-Cap ex US Index (TGPVA09U)
Turnover rate (Fiscal year-end  10/31/2017) 13.90%
CUSIP: 922042718

TRADING

Intraday Optimized Value Ticker
Intraday Optimized Value (IOV), also known as the Intraday Indicative Value (IIV), is the calculated per share price of the ETF which is published every 15 seconds based on the last sale price of each of the underlying securities in the portfolio basket, plus any estimated cash amounts associated with the creation unit.

 VSS.IV
Outstanding shares: 46,712,966 as of 07/31/2018
ETF exchange: NYSE Arca

STYLEBOX

Stock


Diversified index portfolio of non-U.S. small cap stocks in 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 Small Cap ex US Index.
  • Passively managed, using index sampling.
  • Fund remains fully invested.
  • Broad exposure across developed and emerging non-U.S. small-cap equity markets around the world.

Total returns

as of 06/30/2018

View as:

as of 06/30/2018

15%
10
5
0%
 
 
 
 
  1 year 3 year 5 year 10 year

04/02/2009

Market price  9.82% 7.26% 8.17% 11.98%
NAV 
9.92% 7.24% 8.26% 11.97%

FTSE Global Small-Cap ex US Index

*
10.16% 7.08% 8.12%

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%].

– 0.33% – 0.04% – 0.04%

* Tracks more than 3,300 small-capitalization stocks in 47 countries, excluding the United States. Index 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 07/31/2018

  Region  VSS

FTSE Global Small-Cap ex US Index

+/- Weight
Europe 37.9% 38.0% – 0.1%
Pacific 28.6% 28.4% 0.2%
Emerging Markets 20.2% 20.5% – 0.3%
North America 12.8% 12.8% 0.0%
Middle East 0.3% 0.3% 0.0%
Other 0.2%
0%
40%
Total 100.0% 100.0%  

Top 10 markets as of 07/31/2018

Market Region VSS

FTSE Global Small-Cap ex US Index

+/- Weight
Japan Pacific 15.8% 15.7% 0.1%
Canada North America 12.8% 12.8% 0.0%
United Kingdom Europe 11.9% 11.9% 0.0%
Taiwan Emerging Markets 7.0% 7.1% – 0.1%
Australia Pacific 4.8% 4.8% 0.0%
Germany Europe 4.4% 4.4% 0.0%
Korea Pacific 4.3% 4.3% 0.0%
Sweden Europe 4.0% 4.0% 0.0%
China Emerging Markets 3.7% 3.8% – 0.1%
India Emerging Markets 3.0% 3.1% – 0.1%
Top 10 equals 71.7% of stock

Market allocation details  

Sector weightings as of 07/31/2018

  Sector  VSS

FTSE Global Small-Cap ex US Index

+/- Weight
Industrials 23.8% 23.8% 0.0%
Financials 20.5% 20.5% 0.0%
Consumer Services 11.4% 11.4% 0.0%
Consumer Goods 11.2% 11.2% 0.0%
Basic Materials 9.4% 9.4% 0.0%
Technology 8.8% 8.8% 0.0%
Health Care 7.2% 7.2% 0.0%
Oil & Gas 4.5% 4.5% 0.0%
Utilities 2.3% 2.3% 0.0%
Telecommunications 0.9% 0.9% 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 07/31/2018

Rank Holding
1 First Quantum Minerals Ltd.
2 Yageo Corp.
3 Open Text Corp.
4 GVC Holdings plc
5 Ocado Group plc
6 Bombardier Inc.
7 CCL Industries Inc.
8 GN Store Nord A/S
9 Onex Corp.
10 Keyera Corp.
Top 10 equals 3.0% of net assets

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

Fundamentals

Stock

as of 07/31/2018
VSS

FTSE Global Small-Cap ex US Index

Number of stock 3,614 3,425
Avg market cap $2.4 billion $2.4 billion
Median market cap $1.8 billion $1.8 billion
P/E ratio 15.2x 15.3x
P/B ratio 1.6x 1.6x
Turnover rate 13.9% Fiscal year end 10/2017 N/A
% Emerging 20.20% 20.50%
% Developed 79.80% 79.50%

Risk and volatility as of 07/31/2018

  VSS

FTSE Global Small-Cap ex US Index

R-squared N/A 0.98
Beta N/A 0.94
Alpha 0.06 N/A
Standard deviation 10.68% 11.22%
Sharpe ratio 0.72 0.66

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. Although FTSE All-World ex-US Small-Cap ETFs are listed for trading on the NYSE Arca , it is possible that an active trading market may not be maintained. Trading of FTSE All-World ex-US Small-Cap ETFs on the NYSE Arca may be halted if NYSE Arca officials deem such action appropriate, if FTSE All-World ex-US Small-Cap ETFs are delisted from the NYSE Arca, or if the activation of marketwide “circuit breakers” halts stock trading generally. 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 stock markets can be riskier than U.S. stock investments. The prices of foreign stocks and the prices of U.S. stocks have, at times, moved in opposite directions. In addition, the fund’s target index may, at times, become focused in stocks of a particular sector, category, or group of companies.
  • 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.
  • Emerging markets risk: The chance 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.
  • 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.
  • Index sampling risk: The chance that the securities selected for the fund, in the aggregate, will not provide investment performance matching that of the index. Index sampling risk for the fund should be low.
  • Investment style risk: The chance that returns from non-U.S. small-capitalization stocks will trail returns from the overall stock market. Historically, non-U.S. small-capitalization stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.




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. Investments are subject to market risk. Go to the performance page to read more about risk and volatility.