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Fund size
$36.51B
SEP 2026
Total cost ratio
0.18%
per year
Distributions
Quarterly
Since inception
12.0 yrs
NOV 2014
The Vanguard Index International Shares Fund gains its exposure to securities in the index by investing in the Vanguard International Shares Index Fund (Underlying Fund). The Fund is exposed to all of the securities in the index most of time, allowing for individual security weightings to vary marginally from the index from time to time. The Fund may be exposed to securities that have been removed from or are expected to be included in the index.
US equity 73.29%Non-US equity 25.63%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 98.92 | 98.92 | 0.00 |
| Bond | 0.00 | 0.00 | 0.00 |
| Cash | 0.95 | 4.69 | 3.74 |
| Other | 0.13 | 0.13 | 0.00 |
Cyclical 27.59%Sensitive 56.18%Defensive 16.24%
Developed markets 99.73%Emerging markets 0.27%
Size score
283
Value-growth score
148
Economic moat
Wide 60%Narrow 26%None 14%
Giant 47%Large 35%Mid 18%Small 1%
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| NVIDIA Corp NVDA | 5.82 | MAR 2010 | 3.54B | USD | 10.8M | Technology | United States | |
| Apple Inc AAPL | 5.43 | MAR 2010 | 3.29B | USD | 6.9M | Technology | United States | |
| Microsoft Corp MSFT | 4.01 | MAR 2010 | 2.44B | USD | 3.3M | Technology | United States | |
| Amazon.com Inc AMZN | 2.68 | MAR 2010 | 1.62B | USD | 4.5M | Consumer Cyclical | United States | |
| Alphabet Inc Class A GOOGL | 2.25 | MAR 2010 | 1.37B | USD | 2.8M | Communication Services | United States | |
| Meta Platforms Inc Class A META | 1.77 | JUN 2012 | 1.07B | USD | 1.0M | Communication Services | United States | |
| Broadcom Inc AVGO | 1.76 | SEP 2016 | 1.07B | USD | 2.1M | Technology | United States | |
| Alphabet Inc Class C GOOG | 1.75 | OCT 2015 | 1.07B | USD | 2.2M | Communication Services | United States | |
| Micron Technology Inc MU | 1.33 | MAR 2010 | 810.2M | USD | 529,193 | Technology | United States | |
| Tesla Inc TSLA | 1.13 | SEP 2013 | 683.7M | USD | 1.3M | Consumer Cyclical | United States |
Fund (NAV) Market price
1M
-1.1
3M
1.9
6M
16.0
YTD
11.8
1Y
15.3
3Y
21.6
5Y
12.0
10Y
13.0
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | -1.12 | -1.05 | -1.10 | 32 / 313 |
| 3 months | 1.86 | 1.92 | 1.91 | 60 / 309 |
| 6 months | 16.05 | 18.47 | 16.15 | 45 / 300 |
| Year to date | 11.78 | 11.98 | 11.93 | 43 / 290 |
| 1 year | 15.34 | 15.63 | 15.55 | 46 / 283 |
| 3 years p.a. | 21.57 | 21.61 | 21.79 | 29 / 237 |
| 5 years p.a. | 12.02 | 11.69 | 12.22 | 24 / 202 |
| 10 years p.a. | 12.97 | 13.04 | 13.17 | 24 / 140 |
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.
Total Capital
2016
10.0
2017
11.7
2018
2.2
2019
26.7
2020
6.4
2021
29.7
2022
-13.9
2023
27.0
2024
30.6
2025
13.6
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | 13.61 | 9.83 | 37 / 286 |
| 2024 | 30.56 | 27.53 | 18 / 281 |
| 2023 | 27.02 | 20.75 | 27 / 296 |
| 2022 | -13.88 | -14.11 | 47 / 297 |
| 2021 | 29.72 | 27.35 | 25 / 279 |
| 2020 | 6.41 | 3.48 | 42 / 266 |
| 2019 | 26.71 | 25.05 | 28 / 264 |
| 2018 | 2.20 | -1.07 | 34 / 233 |
| 2017 | 11.68 | 10.30 | 63 / 224 |
| 2016 | 10.04 | 4.10 | 14 / 221 |
| 2015 | 13.64 | 8.76 | 27 / 196 |
FY17
14.8
FY18
15.4
FY19
12.1
FY20
5.3
FY21
27.6
FY22
-6.5
FY23
22.7
FY24
20.0
FY25
18.6
FY26
15.0
| Financial year | Total % |
|---|---|
| Financial year to date | 1.44 |
| Year to 30 JUN 2026 | 14.97 |
| Year to 30 JUN 2025 | 18.62 |
| Year to 30 JUN 2024 | 19.98 |
| Year to 30 JUN 2023 | 22.65 |
| Year to 30 JUN 2022 | -6.47 |
| Year to 30 JUN 2021 | 27.57 |
| Year to 30 JUN 2020 | 5.25 |
| Year to 30 JUN 2019 | 12.08 |
| Year to 30 JUN 2018 | 15.43 |
| Year to 30 JUN 2017 | 14.80 |
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | 0.00 | 0.04 | 0.05 | 0.08 |
| Beta | 1.00 | 1.00 | 1.00 | 1.00 |
| R-squared | 100.00 | 100.00 | 100.00 | 99.94 |
| Standard deviation | 12.93 | 11.82 | 15.03 | 14.84 |
| Sharpe ratio | 0.63 | 1.42 | 0.87 | 1.08 |
| Sortino ratio | 1.15 | 2.83 | 1.41 | 1.81 |
| Tracking error | 0.03 | 0.04 | 0.04 | 0.25 |
| Information ratio | 0.23 | 0.75 | 1.01 | 0.22 |
| Upside capture % | 100.08 | 100.03 | 100.04 | 100.13 |
| Downside capture % | 100.09 | 99.71 | 99.74 | 99.80 |
| Maximum drawdown % | -7.00 | -7.00 | -16.00 | -16.00 |
Measured against MSCI World Ex Australia NR AUD 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.
Risk score
82.8
Morningstar Portfolio Risk Score at 30 SEP 2026.
2024
3.8
2023
4.0
2022
2.3
2021
1.7
2020
1.9
2019
1.9
2018
2.0
2017
1.7
2016
1.8
2015
2.2
| Year | Per unit ($) |
|---|---|
| 2024 | 3.8351 |
| 2023 | 4.0242 |
| 2022 | 2.3162 |
| 2021 | 1.7356 |
| 2020 | 1.8746 |
| 2019 | 1.8857 |
| 2018 | 1.9739 |
| 2017 | 1.7254 |
| 2016 | 1.8400 |
| 2015 | 2.2449 |
| Ex Date | Per unit ($) |
|---|---|
| 1 OCT 2026 | 0.2872 |
| 1 JUL 2026 | 0.7998 |
| 1 APR 2026 | 0.3941 |
| 2 JAN 2026 | 0.4736 |
| 1 OCT 2025 | 0.3693 |
| 1 JUL 2025 | 1.2787 |
| 1 APR 2025 | 1.4703 |
| 2 JAN 2025 | 0.7168 |
| 1 OCT 2024 | 0.2871 |
| 1 JUL 2024 | 2.1813 |
| 2 APR 2024 | 1.0029 |
| 2 JAN 2024 | 0.5530 |
Average
ESG risk score
18.59
Category average 18.57
8.02% of assets are in companies with high or severe controversies.
Carbon risk score
7.14
Category average 6.81
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
The VGS ETF, which has attracted significant inflows in recent months, provides broad exposure to a diversified portfolio of large- and mid-cap companies across developed global markets, excluding Australia. Two important points to recognise:
This ETF provides broad exposure to a diversified portfolio of large and mid-cap companies across developed global markets, excluding Australia. We particularly like this huge ETF’s sector mix—over 20% in semiconductors and internet names versus just ~6% in software, even for a relatively tech-heavy fund. Global equities haven’t retreated as far as they did during the Liberation Day sell-off, but they are now within ~70% of the move. Assuming the current war doesn’t send the global economy into a recession, we are seeing another pullback to buy - our preferred scenario at this stage.
We like global equities into Christmas as we’ve discussed through 2025, again there are a number of ASX-traded ETFs available but our favourite is the Vanguard VGS which is the largest at $12.7bn and has a low 0.18% cost - note its not hedged to FX moves.
s global equities continue to post new all-time highs, we have to embrace the bullish trend until further notice; from a technical perspective, the MSCI World Index is in a “buy the dip” cycle unless we see a break back below the 3150 level, or just over 6% lower. Many investors, including ourselves, thought equities might struggle to add to their late 2023 gains, but the grind higher has been unrelenting, and as the likes of the Nikkei and Bitcoin have demonstrated, there's plenty of money looking for a home
The term ESG stands for Environmental, Social & Governance and is a set of standards of behaviour that socially conscious investors are now demanding from their investments. There are more investors building ESG into their process, which is a good thing, and companies are now investing more heavily here and making decisions through a more...
At MM we are believers in the global economy and by definition stocks, we only have to look at history to give us confidence in equities although of course, they do at times go down as well as up i.e. stocks move short-term on news and liquidity but it’s the underlying company performance that determines where a stock will be changing hands a few years down the track. A couple of very important points that MM wants to reiterate to nervous subscribers:
Emerging Markets (EM) have experienced a tumultuous year so far which is easy to comprehend with the geopolitical upheaval the world’s experienced but it’s important to recognise the EM had already been struggling since the $US started rallying in Q1 of 2021. Our current view towards EM is mixed depending on the timeframe:
Moving on to our main area of focus, stocks and it’s a scary picture as global equity indices halved in well under 2-years when oil prices surged in 1973. While there were no real alternative energy sources on the table back then, we are always cognisant of history and if MM develops a view that a repeat performance is likely we will quickly be adopting a very defensive strategy for obvious reasons.
Firstly and very importantly while MM remains long term believers in the stock market we have no issue holding an elevated cash position for a few days / weeks especially in today’s volatile environment where opportunities are presenting themselves almost daily on the stock level. MM currently expects equities to bounce into Q2 however unlike recent years our preferred scenario is indices...
Remain open minded has been one of our catchphrases this year and we believe it definitely will apply again through 2022, not many pundits picked the ASX200’s best 10 stocks of 2021:
MM is bullish towards the VGS ETF around $160
MM remains bullish toward global equities
MM is bullish towards the VGS ETF ~$142
MM is bullish on the VGS ETF into Christmas
MM is cautiously bullish towards global equities into 2026
MM remains bullish on equities this year but in a cautious manner
MM remains bullish on equities this year but in a cautious manner
MM is cautiously bullish towards global equities short-term
MM is cautiously bullish about global equities in 2025
MM is bullish on equities into 2025
Vanguard MSCI Index International Shares ETF (VGS) is an exchange traded fund incorporated in Australia.The Fund seeks to track the return of the MSCI World ex-Australia (with net dividends reinvested), in Australian dollars Index, before taking into account fees, expenses and tax.
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