Updated
20/06/2024
09:38
VEQ
Updated 20/06/2024 09:38
MM is cautiously bullish towards European stocks
Vanguard FTSE Europe Shares ETF (VEQ)
VEQ $88.45
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Performance
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Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 88.45
- Change
- ▲ 0.99 (1.13)
- Bid / Ask
- 88.45 - 88.49
- Volume
- 36,433
- Turnover
- 3,230,117
- Open
- 87.80
- Day Range
- 87.80 - 88.92
- VWAP
- 88.66
- Prev Close
- 87.46
- Last Trade
- 30/10 4:10pm
Fund profile
Displays who issues the fund, how it is structured and invests, its Morningstar category and benchmark, size, headline costs and dates, sourced from Morningstar. Fund size counts every class of the fund; ETF net assets is this listing alone.
Fund size
$433.3M
SEP 2026
Total cost ratio
0.35%
per year
Distributions
Quarterly
Since inception
10.9 yrs
DEC 2015
- Legal name
- Vanguard FTSE Europe Shares ETF
- Issuer
- Vanguard Investments Australia Ltd
- Type
- Exchange-Traded Fund
- Structure
- Open Ended Investment Company
- Management style
- Index fund
- Morningstar category
- Equity Europe
- Category index
- MSCI Europe NR USD
- Benchmark
- FTSE Developed Europe All Cap NR USD
- ETF net assets
- $433.3M
- Units on issue
- 7.0M
- Management fee
- 0.35% p.a.
- Domicile
- Australia
- Base currency
- AUD
- ISIN
- AU000000VEQ7
- Inception
- 9 DEC 2015
- Listed
- 11 DEC 2015
- Index provider
- FTSE International Ltd Index
Objective and strategy
VGK).
Asset allocation · 30 SEP 2026
Displays how the fund is split between shares, bonds, cash and other assets, sourced from Morningstar.
US equity 1.19%Non-US equity 97.76%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 98.95 | 98.95 | 0.00 |
| Bond | 0.00 | 0.00 | 0.00 |
| Cash | 0.78 | 2.23 | 1.45 |
| Other | 0.26 | 0.26 | 0.00 |
Sector exposure
Displays the share of the fund held in each sector, sourced from Morningstar.
Cyclical 39.21%Sensitive 36.57%Defensive 24.22%
- Financial Services
- 25.64%
- Industrials
- 19.73%
- Healthcare
- 12.20%
- Technology
- 9.55%
- Consumer Defensive
- 7.55%
- Consumer Cyclical
- 6.68%
- Basic Materials
- 5.48%
- Energy
- 4.47%
- Utilities
- 4.46%
- Communication Services
- 2.82%
- Real Estate
- 1.41%
Region exposure
Displays the share of the fund held in each region, sourced from Morningstar.
Developed markets 98.77%Emerging markets 1.23%
- Europe Developed
- 75.21%
- United Kingdom
- 21.88%
- North America
- 1.20%
- Europe Emerging
- 1.15%
- Asia Developed
- 0.46%
- Latin America
- 0.05%
- Africa / Middle East
- 0.04%
- Asia Emerging
- 0.01%
- Japan
- 0.00%
- Australasia
- 0.00%
Country exposure
Displays the twelve countries the fund holds most of, sourced from Morningstar.
- United Kingdom
- 21.87%
- Switzerland
- 14.55%
- Germany
- 13.05%
- France
- 11.67%
- Netherlands
- 9.10%
- Spain
- 6.01%
- Sweden
- 5.90%
- Italy
- 5.10%
- Denmark
- 2.64%
- Belgium
- 1.53%
- Finland
- 1.50%
- Norway
- 1.39%
Style box
Displays where the fund's shareholdings sit on Morningstar's style box: size (large, mid, small) down and investment style (value, blend, growth) across, sourced from Morningstar.
LargeMidSmallValueBlendGrowth
- Style
- Large Blend
- Average moat
- Narrow
Size score
280
Small
Mid
Large
Value-growth score
165
Value
Blend
Growth
Economic moat
Wide 42%Narrow 29%None 29%
Market capitalisation
Displays the share of the fund's shareholdings in giant, large, mid, small and micro cap companies, sourced from Morningstar.
- Giant
- 48.12%
- Large
- 31.58%
- Mid
- 16.90%
- Small
- 3.24%
- Micro
- 0.15%
Giant 48%Large 32%Mid 17%Small 3%Micro 0%
- Average market cap
- $88.20B
- Number of holdings
- 1,263
- Shares held
- 1,227
Portfolio statistics · 30 SEP 2026
Displays the valuation, yield, size, concentration and quality of the fund's shareholdings taken together (trailing twelve months), sourced from Morningstar.
- Price / earnings
- 17.39
- Price / book
- 2.25
- Price / sales
- 1.60
- Price / cash flow
- 10.28
- Dividend yield
- 2.84%
- Assets in top 10
- 19.27%
- Return on equity
- 20.39%
- Net margin
- 16.89%
- Earnings growth (3 yr)
- 10.65%
Top holdings · top 10 = 19.27% of assets
Displays the fund's ten largest holdings and their weight in the portfolio, sourced from Morningstar.
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| ASML Holding NV ASML | 4.49 | JAN 2016 | 27.6M | EUR | 10,715 | Technology | Netherlands | |
| HSBC Holdings PLC HSBA | 2.20 | FEB 2018 | 13.5M | GBP | 476,407 | Financial Services | United Kingdom | |
| Roche Holding AG Ordinary Shares new ROP | 1.90 | MAR 2017 | 11.7M | CHF | 19,532 | Healthcare | Switzerland | |
| Shell PLC SHEL | 1.80 | JAN 2016 | 11.0M | GBP | 162,155 | Energy | United Kingdom | |
| Novartis AG Registered Shares NOVN | 1.73 | FEB 2018 | 10.6M | CHF | 51,800 | Healthcare | Switzerland | |
| AstraZeneca PLC AZN | 1.57 | JAN 2016 | 9.7M | GBP | 41,643 | Healthcare | United Kingdom | |
| Nestle SA NESN | 1.51 | FEB 2018 | 9.3M | CHF | 71,462 | Consumer Defensive | Switzerland | |
| Siemens AG SIE | 1.46 | JAN 2016 | 9.0M | EUR | 20,141 | Industrials | Germany | |
| SAP SE SAP | 1.33 | JAN 2016 | 8.2M | EUR | 27,146 | Technology | Germany | |
| Banco Santander SA SAN | 1.30 | JAN 2016 | 8.0M | EUR | 401,059 | Financial Services | Spain |
Trailing returns · 30 SEP 2026
Displays total returns after fees at net asset value, the return at the ASX market price, the return before fees, and where the fund ranks among funds in its Morningstar category, sourced from Morningstar.
Fund (NAV) Market price
1M
-5.1
3M
-1.8
6M
6.6
YTD
5.4
1Y
11.3
3Y
17.2
5Y
8.4
10Y
8.5
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | -5.12 | -4.18 | -5.09 | 86 / 9 |
| 3 months | -1.82 | -0.66 | -1.73 | 58 / 9 |
| 6 months | 6.60 | 11.07 | 6.79 | 50 / 8 |
| Year to date | 5.44 | 6.91 | 5.72 | 50 / 8 |
| 1 year | 11.27 | 13.11 | 11.66 | 50 / 8 |
| 3 years p.a. | 17.18 | 17.74 | 17.59 | 60 / 7 |
| 5 years p.a. | 8.43 | 8.37 | 8.81 | 60 / 7 |
| 10 years p.a. | 8.52 | 8.80 | 8.90 | 60 / 6 |
Returns to 30 SEP 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Calendar year returns
Displays the total return after fees and the capital (price) return for each calendar year, with the fund's rank in its Morningstar category, sourced from Morningstar.
Total Capital
2016
1.2
2017
15.2
2018
-5.6
2019
22.7
2020
-4.0
2021
23.3
2022
-12.1
2023
22.2
2024
10.9
2025
26.3
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | 26.33 | 22.39 | 50 / 8 |
| 2024 | 10.88 | 8.72 | 20 / 8 |
| 2023 | 22.15 | 15.60 | 80 / 7 |
| 2022 | -12.11 | -13.23 | 54 / 8 |
| 2021 | 23.26 | 20.80 | 17 / 8 |
| 2020 | -4.02 | -6.76 | 60 / 9 |
| 2019 | 22.65 | 20.80 | 40 / 10 |
| 2018 | -5.64 | -8.85 | 70 / 10 |
| 2017 | 15.16 | 14.41 | 40 / 9 |
| 2016 | 1.16 | -3.30 | 40 / 7 |
Financial year returns
Displays the total return after fees for each financial year to 30 June, sourced from Morningstar.
FY17
17.5
FY18
8.5
FY19
5.7
FY20
-4.8
FY21
25.1
FY22
-11.7
FY23
23.7
FY24
10.6
FY25
21.3
FY26
10.6
| Financial year | Total % |
|---|---|
| Financial year to date | -2.23 |
| Year to 30 JUN 2026 | 10.56 |
| Year to 30 JUN 2025 | 21.26 |
| Year to 30 JUN 2024 | 10.60 |
| Year to 30 JUN 2023 | 23.73 |
| Year to 30 JUN 2022 | -11.68 |
| Year to 30 JUN 2021 | 25.07 |
| Year to 30 JUN 2020 | -4.81 |
| Year to 30 JUN 2019 | 5.71 |
| Year to 30 JUN 2018 | 8.49 |
| Year to 30 JUN 2017 | 17.47 |
Risk statistics · 30 SEP 2026
Displays how the fund has moved relative to its category index: alpha (return beyond the index), beta (sensitivity to it), R-squared (how much the index explains), volatility and risk-adjusted returns, sourced from Morningstar.
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | -0.74 | 0.14 | -1.25 | -0.70 |
| Beta | 0.81 | 0.95 | 1.05 | 1.03 |
| R-squared | 94.23 | 93.12 | 93.78 | 95.76 |
| Standard deviation | 13.66 | 13.23 | 17.13 | 16.87 |
| Sharpe ratio | 0.28 | 1.14 | 0.55 | 0.65 |
| Sortino ratio | 0.32 | 2.11 | 0.76 | 0.93 |
| Tracking error | 2.61 | 2.29 | 2.98 | 2.51 |
| Information ratio | -0.51 | -0.15 | -0.35 | -0.26 |
| Upside capture % | 85.54 | 97.75 | 99.61 | 99.32 |
| Downside capture % | 87.83 | 97.54 | 108.22 | 103.95 |
| Maximum drawdown % | -4.49 | -4.49 | -21.78 | -21.98 |
Measured against MSCI Europe NR USD with RBA Bank accepted Bills 90 Days as the risk-free rate, to 30 SEP 2026. Maximum drawdown is on gross returns at the latest quarter end.
Portfolio risk score
Displays Morningstar's Portfolio Risk Score for the fund's holdings, how closely the ETF tracks its index day to day, the estimated cost of holding it against the index, the cost of trading it at market size, and its best and worst quarters since inception, sourced from Morningstar.
Risk score
86.5
Cash 0
Global shares 100
Morningstar Portfolio Risk Score at 30 SEP 2026.
- Tracking volatility
- 3.316
- Est. holding cost %
- 0.421
- Market impact cost %
- 0.196
- Best quarter
- 17.49% · MAY 2017
- Worst quarter
- -16.55% · APR 2020
Fees and costs
Displays the fund's ongoing costs as a percentage of assets per year: the PDS management fees and costs, performance fee and transaction costs that make up the total cost ratio (the RG 97 forward estimate, and what was charged last financial year), and the buy / sell spread, sourced from Morningstar.
- Management fees and costs
- 0.35% p.a.
- Performance fee costs
- 0.00% p.a.
- Transaction costs
- 0.00% p.a.
- Total cost ratio
- 0.35% p.a.
- Total cost ratio (last FY)
- 0.35% p.a.
- Buy / sell spread
- 0.05% / 0.05%
- Performance fee
- Not Disclosed
- PDS dated
- 1 SEP 2026
Distributions
Displays the most recent distribution paid per unit and its key dates, sourced from Morningstar.
- Latest distribution
- 0.1229
- Ex Date
- 1 OCT 2026
- Record Date
- 2 OCT 2026
- Pay Date
- 16 OCT 2026
- NAV at ex date
- 87.55
- Paid this year
- 1.9860
Distributions by year
Displays the total distributions paid per unit in each calendar year, sourced from Morningstar.
2024
2.0
2023
1.8
2022
1.7
2021
1.7
2020
1.3
2019
1.3
2018
1.6
2017
1.4
2016
1.2
2015
1.3
| Year | Per unit ($) |
|---|---|
| 2024 | 2.0422 |
| 2023 | 1.8180 |
| 2022 | 1.7239 |
| 2021 | 1.7135 |
| 2020 | 1.2954 |
| 2019 | 1.3175 |
| 2018 | 1.5809 |
| 2017 | 1.4278 |
| 2016 | 1.1946 |
| 2015 | 1.2890 |
Distribution history
Displays the most recent distributions by ex date, sourced from Morningstar.
| Ex Date | Per unit ($) |
|---|---|
| 1 OCT 2026 | 0.1229 |
| 1 JUL 2026 | 0.9763 |
| 1 APR 2026 | 0.2708 |
| 2 JAN 2026 | 0.6160 |
| 1 OCT 2025 | 0.1290 |
| 1 JUL 2025 | 1.0317 |
| 1 APR 2025 | 0.3148 |
| 2 JAN 2025 | 0.5666 |
| 1 OCT 2024 | 0.1121 |
| 1 JUL 2024 | 0.9072 |
| 2 APR 2024 | 0.3720 |
| 2 JAN 2024 | 0.4267 |
Sustainability rating · 31 AUG 2026
Displays the Morningstar Sustainability Rating (1 to 5 globes, more is better) and the portfolio ESG risk score behind it (lower is less risk), against the average of the fund's global category, sourced from Morningstar and Sustainalytics.
Below Average
ESG risk score
17.34
Negligible
Low
Medium
High
Severe
Category average 16.81
- Rank in category
- 70th percentile of 2,513 funds
- Environmental risk
- 5.33
- Social risk
- 7.70
- Governance risk
- 3.91
- Portfolio covered
- 99.1%
ESG risk of holdings
Displays the share of the covered portfolio held in companies with negligible, low, medium, high and severe ESG risk, sourced from Morningstar and Sustainalytics.
- Negligible
- 12.50%
- Low
- 60.21%
- Medium
- 22.67%
- High
- 4.32%
- Severe
- 0.30%
4.45% of assets are in companies with high or severe controversies.
Carbon · 31 AUG 2026
Displays the portfolio carbon risk score (lower is less exposure to the transition to a low-carbon economy), the share of the portfolio in companies with fossil fuel revenue, and whether the fund earns Morningstar's Low Carbon Designation, sourced from Morningstar and Sustainalytics.
Carbon risk score
7.72
Low
Medium
High
Severe
Category average 7.04
- Carbon risk
- Low Risk
- Rank in category
- 60th percentile of 7 funds
- Fossil fuel involvement
- 9.27%
- Category average
- 8.34%
- Low Carbon Designation
- No
- Portfolio covered
- 99.0%
Fund managers
Displays the people Morningstar lists as managers of the fund, sourced from Morningstar.
- Christine D. Franquin
- Scott E. Geiger
Tenure
Displays how long the managers have run the fund: the average and longest tenure, who has served longest, the latest appointment and how many other funds the team manages, sourced from Morningstar.
- Number of managers
- 2
- Average tenure
- 7.5 years
- Longest tenure
- 10.7 years
- Longest serving
- Christine D. Franquin · since 26 FEB 2016
- Most recent appointment
- Scott E. Geiger · since 1 JUL 2022
- Managed since
- 26 FEB 2016
- Other funds managed
- 21
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
No opinions for this company yet.
Action
Updated
16/11/2020
09:45
VEQ
Updated 16/11/2020 09:45
MM is bullish the VEQ ETF.
Business Summary
Vanguard FTSE Europe Shares ETF seeks to track the return of the FTSE Developed Europe All Cap Index (with net dividends reinvested) in Australian dollars, before taking into account fees, expenses and tax. The ETF provides low-cost exposure to securities listed in major European markets. The ETF is exposed to the fluctuating values of foreign currencies, as there will not be any hedging of foreign currencies to the Australian dollar. The Fund invests in a diversified portfolio of securities, which means the Fund is less exposed to the performance fluctuations of individual securities.
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