VSS — Vanguard FTSE All-World ex-US Small-Cap Index Fund ETF Shares

VSS Price Performance — Growth of $10,000

Value of a $10,000 investment in VSS over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

VSS Drawdown

The "underwater" chart: VSS's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

Vanguard FTSE All-World ex-US Small-Cap Index Fund ETF Shares is an International Developed category fund issued by Vanguard with $14.3 billion in assets under management. It holds a C grade and ranks 16th out of 22 peers, placing it in the lower half of its specific category while sitting at #160 overall among 458 tracked ETFs. The fund’s 0.06% expense ratio is significantly below the category median of 0.165%, offering a cost advantage to investors. Its 3.10% dividend yield also exceeds the category median of 2.53%, providing a higher income profile relative to similar funds. The top 10 holdings represent only 8.7% of assets, with the largest position being the Vanguard Cmt Funds-Vanguard Market Liquidity Fund at 6.4%.

The fund has delivered a 1-year return of 19.66%, which trails the category median of 22.96%, indicating underperformance over the past year. Short-term momentum is visible with a 1-month return of 2.66% and a year-to-date gain of 12.08%, suggesting recent positive trends. However, the 3-year return of 61.84% highlights a longer-term accumulation of value despite the recent lag. The price of $161.34 sits at 94.0% of its 52-week range, indicating it is near the top of its recent trading band. The ETFValuer grade has remained unchanged at C over the last 35 tracked days, showing stability in its assessment. Historical data is available for only 3.0 years, limiting the depth of long-term performance analysis.

With a beta of 1.00, the fund moves in lockstep with the broader market, reflecting no additional systematic risk or leverage. Its annualized volatility of 16.43% is labeled as Moderate, suggesting a standard level of price fluctuation for this asset class. The Sharpe ratio of 0.89 indicates that the fund has generated reasonable risk-adjusted returns relative to its volatility. A maximum drawdown of -15.73% shows the largest peak-to-trough decline experienced during the tracked period. Liquidity is supported by an average daily volume of 208,514 shares, though the bid/ask spread of 1.86% suggests some trading friction. These metrics together describe a fund that tracks its benchmark closely with moderate risk characteristics.

AI-generated summary based on the data on this page.

VSS Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 8.7% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how VSS's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With VSS

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with VSS's top 10 — SCHC overlaps most, holding 6 of the same companies as VSS's top 10 (1.5% of VSS's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 118.75 (as of 2026-08-28) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

VSS Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 1.86% and average daily volume is 209K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $14.3B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: VSS is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

VSS Performance History

How VSS Compares to Other International Developed ETFs