VEA Fund Description

The Vanguard FTSE Developed Markets ETF tracks a market-cap weighted index of large- and midcap stocks from developed markets outside the US and Canada.

VEA ETF.com Insight

VEA delivers excellent coverage of developed-market equities outside the US at a very low all-in price. The fund the market well, with two caveats: It favors large firm, and it ignoresVEA's low-cost basket of marketlike stocks is tough to beat Canadian securities. VEA's basket is easy to access, especially at the retail level, where bid/ask spreads are minscule. The fund's 9 bp fee is among the segment's lowest. In all, VEA's low-cost basket of marketlike stocks is tough to beat. (Insight updated 12/08/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

VEA
-2.38% -6.06% -4.91% -1.60% 12.50% 5.90% --

VEA (NAV)
-2.31% -6.08% -4.63% -1.30% 12.53% 5.94% --

FTSE Developed ex North America Net Tax (US RIC) Index
-3.16% -6.89% -5.38% -1.66% 12.00% 5.85% 4.77%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

VEA Top 10 Countries View All

VEA Top 10 Sectors

VEA Top 10 Holdings View All

VEA Summary Data

Issuer Vanguard

A company that produces and manages ETFs.

Inception Date 07/20/07

The first date of a fund's operations, as documented by the issuer.

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

Expense Ratio 0.09%

The net total annual fee a fund holder pays to the issuer.

Assets Under Management $23.79 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

Average Daily $ Volume $177.54 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

(%) | The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 0.03%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

VEA Portfolio Data

Weighted Average Market Cap $59.89 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

Price / Earnings Ratio 16.87

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

Price / Book Ratio 1.56

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

Distribution Yield 3.55%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

Next Ex-Dividend Date --

The date on which a security's price excludes an upcoming dividend.

Number of Holdings 1,368

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

VEA Index Data

Index Tracked FTSE Developed ex North America Net Tax (US RIC) Index

This is the benchmark an ETF is desigend to track or replicate.

Index Weighting Methodology Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Index Selection Methodology Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

Segment Benchmark MSCI World Ex-USA
Investable Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to VEA

Top Competing ETFs EFA, DWM, SCHF, PXF, GWL

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

VEA Commentary & News

11 December 2014
Search | ETF.com
11 December 2014
Search | ETF.com
8 December 2014
Daily ETF Flows

VEA ETF.com Efficiency Insight

VEA's 9 bp expense ratio–reduced on 4/7/14 –is among the lowest in the segment. VEA changed its underlying index on May 29, 2013 from the MSCI EAFE to a very similar FTSE index. The fund tracked its old index extremely well and we expect the same going forward. The fund boasts a massive asset base of over $20B, the segment's second highest. (Insight updated 12/08/2014)


Total Return - 12/18/2014

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

VEA
-2.38% -6.06% -4.91% -1.60% 12.50% 5.90% --

VEA (NAV)
-2.31% -6.08% -4.63% -1.30% 12.53% 5.94% --

FTSE Developed ex North America Net Tax (US RIC) Index
-3.16% -6.89% -5.38% -1.66% 12.00% 5.85% 4.77%

MSCI World Ex-USA Investable Markets
-3.33% -7.33% -5.18% -1.41% 11.54% 6.01% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

VEA Portfolio Management

Expense Ratio 0.09%

The net annual fee a fund holder pays to the issuer.

(12 Mo) | Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results." href="javascript:void(0)" class="term">Median Tracking Difference (12 Mo) -0.03%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

VEA Tax Exposures

Max LT/ST Capital Gains Rate 20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

Tax on Distributions Qualified dividends

IRS treatment of the majority of the fund's distributions.

Distributes K1 No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

VEA Fund Structure

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

OTC Derivative Use No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Securities Lending Active Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

ETN Counterparty N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

ETN Counterparty Risk N/A

The risk of default by the ETN counterparty.

Fund Closure Risk Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Portfolio Disclosure Monthly

The frequency of an issuer's disclosure of all fund holdings.

VEA ETF.com Tradability Insight

VEA trades extremely well at the retail level. With well over $100M traded most days, the fund is extremely liquid. The fund's penny-wide spreads are extremely tight. Block trades are unlikely to affect prices in the underlying market, even when trading creation units. (Insight updated 12/08/2014)

Average Spread

Premium/Discount

Volume

VEA ETF.com/ Block LiquidityAs of 12/19/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of VEA. VEA is rated a 5 out of 5.

VEA Tradability

Avg. Daily Share Volume 4,593,872

It is the daily number of shares traded, averaged over the past 45 trading days.

Average Daily $ Volume $177.54 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

Median Daily Share Volume 3,738,962

Median number of shares traded over the past 45 trading days.

(%) | The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 0.03%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

($) | The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars." href="javascript:void(0)" class="term">Average Spread ($) $0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

(12 Mo) | The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period." href="javascript:void(0)" class="term">Max. Premium / Discount (12 Mo) 0.52% / -0.49%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

Impediment to Creations None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

Market Hours Overlap 18.70%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

(Shares) | The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund." href="javascript:void(0)" class="term">Creation Unit Size (Shares) 500,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

(45 Day Average) | The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots." href="javascript:void(0)" class="term">Creation Unit/Day (45 Day Average) 7.48

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

(%) | The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit." href="javascript:void(0)" class="term">Creation Unit Cost (%) 0.05%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

Underlying Volume / Unit 0.06%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

Open Interest on ETF Options 3,677

The total number of net outstanding options contracts for an ETF.

ETF.com Implied Liquidity 5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

VEA ETF.com Fit Insight

Recent index change notwithstanding, VEA provides an excellent take on international equities. The fund exhibits only two major deviations from marketlike coverage. First, it leans slightly towards large caps. Second, it omits Canadian equities, which fall outside of fund's index universe. Still, VEA's offers solid coverage of developed market equities outside the US. (Insight updated 12/08/2014)

VEA Sector/Industry BreakdownView All

Sector VEA Segment Benchmark
Financials 26.46% 25.02%

Industrials 13.67% 13.53%

Consumer Cyclicals 12.47% 12.97%

Healthcare 10.04% 10.74%

Consumer Non-Cyclicals 9.65% 10.62%

Basic Materials 7.75% 7.47%

Energy 7.54% 5.92%

Technology 4.18% 5.25%

Utilities 3.29% 3.54%

VEA Geographic ExposureView All

Countries VEA Segment Benchmark
Japan 19.83% 21.53%

United Kingdom 18.85% 19.51%

Switzerland 7.90% 8.75%

France 7.87% 8.51%

Germany 7.88% 8.44%

Australia 6.40% 7.06%

Hong Kong 2.75% 3.35%

Spain 3.11% 3.28%

Other 25.43% 15.63%

Regions VEA Segment Benchmark
Europe 58.65% 61.63%

Asia-Pacific 30.66% 37.58%

Middle East & Africa 0.55% 0.65%

North America 10.12% 0.12%

Latin America 0.02% 0.01%

Developed /
Emerging Split
99.95% / 0.05% 99.84% / 0.16%

VEA Performance Statistics

Beta 1.01

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

Up Beta 1.01

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

Down Beta 1.03

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

Downside Standard Deviation 0.08%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

Segment Benchmark MSCI World Ex-USA
Investable Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

VEA Benchmark Comparison

VEA
1368 Holdings
Segment Benchmark
3435 Constituents
Shared Holdings
1189 (Count)
 
80.85% (Weight)
VEASegment Benchmark
Market Cap | The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio." href="javascript:void(0)" class="term">Weighted Average
Market Cap
$53.3 B$59.89 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

Size Split

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

Large (>12.9B)68%75%
Mid (>2.7B)22%23%
Small (>600M)8%3%
Micro (<600M)1%0%
Price / Book Ratio1.621.56

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

Dividend Yield2.57%2.50%

The weighted average of the current yield on the portfolio’s holdings.

Holdings | The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper." href="javascript:void(0)" class="term">Number Of
Holdings
34351368

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

ConcentrationLowLow

The level of return contribution attributable to the average portfolio constituent.