ACWX vs VEU: Grades, Fees and Holdings Compared

iShares MSCI ACWI ex U.S. ETF

ACWXBNasdaq

Vanguard FTSE All-World ex-US ETF

VEUANYSE Arca

Overlap

83.8%by weight

Expense ratio

VEU −0.28pt a year

ACWX0.32%VEU0.04%

Avg volume · 30D

ACWX 1.2×the volume

ACWX2.98MVEU2.57M

10Y return · a year

VEU +0.3pt

ACWX+8.9%VEU+9.2%

ACWX vs VEU Performance

Oct 29, 2021 – Oct 30, 2026

+48.3%ACWX+49.8%VEU

Expense ratio: ACWX 0.32%; VEU 0.04%, better
Fund size: ACWX $17.7B; VEU $95.7B
1Y total return: ACWX +13.6%; VEU +13.8%, better
Yield (12M): ACWX 2.59%, better; VEU 2.43%
Holdings: ACWX 1895; VEU 3820
Avg volume (30D): ACWX 2.98M sh, better; VEU 2.57M sh
NAV per share: ACWX $73.27; VEU $80.49
52W range

ETF.net Grade

Pillar letters and Scores for ACWX, VEU, with each pillar’s weight
Pillar	ACWX	VEU
Cost30% weight	F23	A93Higher
Mission25% weight	A100	A100
Risk15% weight	B55	B55
Tradability15% weight	A73Higher	B55
Holdings10% weight	C46	B60Higher
Durability5% weight	B62	A82Higher

Rank among Total International Market funds

How we build Categories ›

Same Category. ACWX and VEU are both graded against the same 8 Total International Market funds, so their Grades compare head to head.

Total International Market⁠

Category · 8 funds

See all 8 ›

VEU ranks 2nd and ACWX 5th of 8 funds in the Total International Market Category.

Rank 1AVXUSVanguard Total International Stock ETFScore 80
Rank 2AVEUVanguard FTSE All-World ex-US ETFScore 79
Rank 3AIXUSiShares Core MSCI Total International Stock ETFScore 76
Rank 4BDFAXDimensional World ex U.S. Core Equity 2 ETFScore 64
Rank 5BACWXiShares MSCI ACWI ex U.S. ETFScore 58
Rank 5BCWIState Street SPDR MSCI ACWI ex-US ETFScore 58

Our read on each fund

ETF.net Research

ACWXBiShares MSCI ACWI ex U.S. ETF

VEUAVanguard FTSE All-World ex-US ETF

In short

ACWX One ticker for everything outside America: roughly 1,900 large and mid-cap stocks across developed and emerging markets, running since 2008. The convenience is real, and so is the price tag next to its cheaper index cousins.

VEU One ticker for everything outside America: roughly 3,800 stocks spanning developed and emerging markets, for 0.04% a year. Vanguard has run it since 2007, and it costs a fraction of what the typical international blend fund charges.

Stated mandate

ACWX The Fund seeks to track an index of large- and mid-capitalization non-U.S. equities. Its index covers developed and emerging markets excluding the United States, and the Fund uses representative sampling while generally investing at least 80% in index components or substantially identical instruments.

VEU The fund seeks to track the investment performance of the FTSE All-World ex US Index, providing broad exposure to developed and emerging non-U.S. equity markets.

Why people hold it

ACWX Owns the world minus the US in a single trade: developed and emerging markets, large and mid caps, roughly 1,900 stocks.
Trading since 2008 and now a multi-billion-dollar fund that changes hands actively, which matters when you want in or out without friction.
No style drift. It keeps at least 80% in index components and stays a plain vanilla ex-US index fund, one of the cleaner implementations in its peer group.ishares.com

VEU At 0.04% a year, it undercuts the typical international blend fund (0.28% median) and comes in below IXUS and VPL at 0.07%, never mind ACWX at 0.32%.
About 3,800 stocks across developed and emerging markets outside the US. One line in your portfolio, most of the planet's listed companies behind it.vanguard.com
Trading since 2007, now a multi-billion-dollar fund that changes hands actively, and it has stayed tight to its stated job of tracking the FTSE All-World ex US Index.
One of the strongest builds in the international blend group: broad mandate, rock-bottom fee, steady index discipline.

Worth knowing

ACWX 0.32% a year sits above the peer median of 0.28%, and well above iShares' own IXUS (0.07%) or VEU (0.04%), which cover similar ground.
Representative sampling means it holds a slice of the index rather than every name, so results can diverge somewhat from the benchmark.ishares.com
Payouts land once or twice a year rather than quarterly, and the basket mixes emerging markets in with developed ones.

VEU No US stocks, by design. This is the other half of a portfolio rather than the whole of one.vanguard.com
Emerging markets come baked in, not bolted on. Hold a dedicated EM fund alongside it and you'll own some of the same names twice.
Everything inside is priced in foreign currency, so exchange rates push returns around on top of what the stocks do. Income arrives quarterly.

Full ACWX profile⁠

Full VEU profile⁠

ACWX vs VEU Holdings

How ACWX and VEU differ

Overlap by weight

83.8%

Shared holdings make up 94.8% of ACWX and 86.3% of VEU.

Level by level

Holdings1,662 in both83.8%
Countryby domicile90.0%
Sector11 Sectors97.4%
Asset classEquity100%

Sector

Sector weights in ACWX and VEU, widest gap first
Sector	More in ACWXMore in VEU	ACWX	VEU
Technology	VEU +1.0 points	20.9%	21.9%
Financials	ACWX +0.8 points	24.9%	24.1%
Industrials	VEU +0.7 points	13.7%	14.4%
Real Estate	VEU +0.6 points	1.2%	1.8%
Consumer Staples	ACWX +0.6 points	5.3%	4.7%
Health Care	ACWX +0.5 points	7.3%	6.8%
Energy	ACWX +0.4 points	5.2%	4.8%
Materials	VEU +0.2 points	6.6%	6.8%
Communication	VEU +0.2 points	4.2%	4.4%
Utilities	ACWX +0.2 points	3.1%	2.9%
Consumer Discretionary	ACWX +0.1 points	7.5%	7.4%

Country, concentration and asset class

Country by domicile

Country weights in ACWX and VEU, widest gap first
Country	More in ACWXMore in VEU	ACWX	VEU
South Africa	VEU +3.0 points	0.0%	3.0%
Canada	ACWX +1.9 points	9.6%	7.7%
United Kingdom	ACWX +1.4 points	9.5%	8.1%
Switzerland	ACWX +1.4 points	6.4%	5.0%
France	ACWX +1.1 points	6.1%	5.0%
Germany	ACWX +1.1 points	5.8%	4.7%
Denmark	VEU +0.8 points	0.0%	0.8%
Israel	VEU +0.8 points	0.0%	0.8%
Other countries (30)	VEU +2.3 points	62.5%	64.8%

Outside the US: ACWX 70% developed, 30% emerging. VEU 65% developed, 35% emerging.

Concentration

Weight in the 10 largest Holdings

ACWX15.7%
VEU15.2%

Securities held

ACWX1,860
VEU3,778

Asset class

ACWX: Equity
VEU: Equity

Holdings

Only in ACWX198
In both1,662
Only in VEU2,116

Only in ACWX

198 securities, 4.8% of ACWX by weight

Spotify Technology0.24%
Reliance Industries Ltd0.19%
Basf N0.15%
Nordea Bank0.14%
Teva Pharmaceutical Industries0.14%
Ferrari0.13%
Al Rajhi Bank0.13%
Nu Holdings Class A0.12%
Nebius NV Class A0.09%
Adidas N AG0.09%
Stmicroelectronics0.08%
Sea Ads Representing Ltd Class A0.08%
Teck Resources Subordinate Voting0.08%
Ferrovial NV0.08%
The Saudi National Bank0.08%
Larsen and Toubro Ltd0.07%
Aercap Holdings0.07%
Credicorp Ltd0.07%
Coca Cola Europacific Partners PLC0.06%
Aib Group PLC0.06%
First Abu Dhabi Bank0.06%
Tata Consultancy Services Ltd0.06%
Bombardier Class B0.06%
Emirates Telecommunications Group0.05%
Delta Electronics (Thailand) Non-V0.05%
Bt Group PLC0.05%
Eternal0.05%
State Bank of India0.05%
Southern Copper Corp0.05%
Edp Energias De Portugal0.05%
Kerry Group PLC0.05%
Cgi Inc Class A0.04%
Abu Dhabi Commercial Bank0.04%
Check Point Software Technologies0.04%
Henkel & Kgaa Pref AG0.04%
Ntpc Ltd0.04%
Ptt Non-Voting Dr0.03%
Rogers Communications Non-Voting I0.03%
Adani Ports and Special Economic Z0.03%
Vonovia SE0.03%
Ccl Industries Class B0.03%
Tech Mahindra0.03%
Banco Comercial Portugues SA0.03%
Advanced Info Service Non-Voting D0.03%
H World Group Adr0.03%
Jardine Matheson Holdings0.03%
Grasim Industries0.03%
Galp Energia Sgps SA Class B0.03%
Power Grid Corporation of India0.03%
Interglobe Aviation Ltd0.03%

Only in VEU

2,116 securities, 12.9% of VEU by weight

SLBBH11420.91%
Reliance Industries Ltd0.21%
Air Liquide SA0.18%
Nordea Bank Abp0.16%
L'Oreal SA0.15%
Basf SE0.12%
Al Rajhi Bank0.12%
Teva Pharmaceutical Industries Ltd0.11%
Ferrari NV0.11%
Waste Connections Inc0.10%
STMicroelectronics NV0.08%
Teck Resources Ltd0.08%
Saudi National Bank/The0.08%
Engie SA0.07%
AIB Group PLC0.07%
adidas AG0.07%
Larsen & Toubro Ltd0.07%
Ferrovial NV0.06%
Itau Unibanco H-Spon Prf Adr0.06%
First Abu Dhabi Bank PJSC0.06%
Tata Consultancy Services Ltd0.05%
United Microelectron-Sp Adr0.05%
Relx PLC0.05%
Amrize Ltd0.05%
Emirates Telecommunications Group Co PJSC0.05%
Coca-Cola Europacific Partners PLC0.05%
Investor AB0.05%
Bombardier Inc0.05%
State Bank of India0.05%
Barrick Mining Corp0.04%
Edp SA0.04%
NTPC Ltd0.04%
Kerry Group PLC0.04%
Eternal Ltd0.04%
Ptt Pcl/Foreign0.04%
Abu Dhabi Commercial Bank PJSC0.04%
UPM-Kymmene Oyj0.04%
BT Group PLC0.03%
James Hardie Industries-Cdi0.03%
Vonovia SE0.03%
Adani Ports & Special Economic Zone Ltd0.03%
Henkel AG & Co Kgaa Vor-Pref0.03%
Infosys Ltd-Sp Adr0.03%
CGI Inc0.03%
Power Grid Corp of India Ltd0.03%
International Consolidated Airlines Group SA0.03%
Banco Comercial Portugues SA0.03%
Taiwan Union Technology Corp0.03%
JSW Steel Ltd0.03%
Grasim Industries Ltd0.03%

Weight gaps

The 100 widest of 1,662 Holdings in both funds.

Holding weights in ACWX and VEU, widest gap first
Holding	More in ACWXMore in VEU	ACWX	VEU
Taiwan Semiconductor Manufacturing	ACWX +0.30 points	5.00%	4.70%
Loreal SA	ACWX +0.24 points	0.33%	0.09%
Lair Liquide Societe Anonyme Pour	ACWX +0.24 points	0.35%	0.11%
Roche Ps Par AG	ACWX +0.24 points	0.96%	0.72%
Sk Hynix	VEU +0.19 points	1.64%	1.83%
ShellSHEL.L	ACWX +0.19 points	0.87%	0.68%
Astrazeneca PLCAZN.L	ACWX +0.19 points	0.79%	0.60%
Novartis AG	ACWX +0.18 points	0.84%	0.66%
Nestle SA	ACWX +0.16 points	0.74%	0.58%
Sap	ACWX +0.17 points	0.67%	0.50%
Delta Electronics	VEU +0.12 points	0.22%	0.34%
Commonwealth Bank of Australia	ACWX +0.12 points	0.55%	0.43%
Royal Bank of Canada	ACWX +0.11 points	0.79%	0.68%
Relx PLCREL.L	ACWX +0.11 points	0.20%	0.09%
Toronto Dominion	ACWX +0.09 points	0.57%	0.48%
Recruit Holdings Ltd	ACWX +0.10 points	0.45%	0.35%
Engie SA	ACWX +0.09 points	0.14%	0.05%
Totalenergies	ACWX +0.09 points	0.52%	0.43%
Canadian Natural Resources Ltd	ACWX +0.09 points	0.33%	0.24%
Shopify Subordinate Voting Class A	ACWX +0.08 points	0.53%	0.45%
Bp PLCBP.L	ACWX +0.08 points	0.36%	0.28%
Unilever PLCULVR.L	ACWX +0.08 points	0.39%	0.31%
Hong Kong Exchanges and Clearing	VEU +0.07 points	0.07%	0.14%
Softbank Group Corp	VEU +0.07 points	0.30%	0.37%
Mediatek	VEU +0.08 points	0.48%	0.56%
British American TobaccoBATS.L	ACWX +0.07 points	0.34%	0.27%
Sony Group	ACWX +0.07 points	0.42%	0.35%
Allianz	ACWX +0.07 points	0.51%	0.44%
Suncor Energy Inc	ACWX +0.07 points	0.27%	0.20%
Aia Group	ACWX +0.06 points	0.30%	0.24%
Novo Nordisk Class B	ACWX +0.06 points	0.36%	0.30%
Advantest	ACWX +0.05 points	0.45%	0.40%
Itau Unibanco Holding Pref SA	ACWX +0.06 points	0.11%	0.05%
Zurich Insurance Group AG	ACWX +0.05 points	0.30%	0.25%
Sanofi SA	ACWX +0.05 points	0.27%	0.22%
Ubs Group AG	ACWX +0.05 points	0.42%	0.37%
Kioxia Holdings	VEU +0.05 points	0.28%	0.33%
Canadian Imperial Bank of Commerce	ACWX +0.05 points	0.30%	0.25%
Essilorluxottica SA	ACWX +0.05 points	0.17%	0.12%
Tokio Marine Holdings	ACWX +0.05 points	0.28%	0.23%
Toyota Motor	ACWX +0.04 points	0.52%	0.48%
Barrick Mining	ACWX +0.05 points	0.17%	0.12%
Muenchener Rueckversicherungs-Gese	ACWX +0.04 points	0.22%	0.18%
Enbridge	ACWX +0.05 points	0.30%	0.25%
Genmab	ACWX +0.05 points	0.10%	0.05%
National Australia Bank	ACWX +0.04 points	0.25%	0.21%
Bank of Nova Scotia	ACWX +0.04 points	0.32%	0.28%
Siemens N AG	ACWX +0.04 points	0.60%	0.56%
Infosys	ACWX +0.05 points	0.11%	0.06%
Lonza Group AG	ACWX +0.04 points	0.16%	0.12%
National Grid PLCNG.L	ACWX +0.04 points	0.23%	0.19%
Airbus Group	ACWX +0.04 points	0.35%	0.31%
Givaudan SA	ACWX +0.04 points	0.12%	0.08%
Anz Group Holdings Ltd	ACWX +0.04 points	0.24%	0.20%
Bhp Group Ltd	ACWX +0.05 points	0.58%	0.53%
Banco Santander	VEU +0.04 points	0.45%	0.49%
Westpac Banking Corporation	ACWX +0.05 points	0.25%	0.20%
Alibaba Group Holding	VEU +0.04 points	0.59%	0.63%
Ucb SA	ACWX +0.04 points	0.11%	0.07%
Iberdrola	ACWX +0.05 points	0.43%	0.38%
Deutsche Boerse AG	ACWX +0.04 points	0.19%	0.15%
China Construction Bank Corp H	ACWX +0.04 points	0.31%	0.27%
Tc Energy	ACWX +0.04 points	0.19%	0.15%
Investor Class B	ACWX +0.04 points	0.21%	0.17%
Bank of Montreal	ACWX +0.04 points	0.33%	0.29%
GlaxosmithklineGSK.L	ACWX +0.04 points	0.28%	0.24%
Sumitomo Mitsui Financial Group	ACWX +0.04 points	0.43%	0.39%
Enel	ACWX +0.04 points	0.22%	0.18%
Samsung Electronics Ltd	VEU +0.04 points	2.20%	2.24%
Constellation Software	ACWX +0.04 points	0.14%	0.10%
Canadian Pacific Kansas City	ACWX +0.04 points	0.23%	0.19%
Csl	ACWX +0.04 points	0.19%	0.15%
Bae Systems PLCBA.L	ACWX +0.03 points	0.22%	0.19%
Bank of China Ltd H	ACWX +0.04 points	0.17%	0.13%
Mitsubishi Ufj Financial Group	ACWX +0.04 points	0.66%	0.62%
London Stock Exchange Group PLCLSEG.L	ACWX +0.04 points	0.16%	0.12%
Macquarie Group Ltd Def	ACWX +0.03 points	0.18%	0.15%
Galderma Group N AG	ACWX +0.03 points	0.12%	0.09%
Compass Group PLCCPG.L	ACWX +0.04 points	0.16%	0.12%
Sandoz Group AG	ACWX +0.03 points	0.12%	0.09%
Pdd Holdings AdsPDD	VEU +0.04 points	0.11%	0.15%
Kb Financial Group	ACWX +0.03 points	0.11%	0.08%
Tesco PLCTSCO.L	ACWX +0.04 points	0.13%	0.09%
Grupo Cibest Pref SA	ACWX +0.03 points	0.03%	<0.01%
Tokyo Electron	VEU +0.03 points	0.38%	0.41%
Petroleo Brasileiro Pref SA	ACWX +0.03 points	0.13%	0.10%
Eni	ACWX +0.04 points	0.16%	0.12%
Xiaomi	ACWX +0.03 points	0.17%	0.14%
Schneider Electric	VEU +0.03 points	0.41%	0.44%
Manulife Financial	ACWX +0.03 points	0.21%	0.18%
Anheuser-Busch Inbev SA	ACWX +0.03 points	0.20%	0.17%
Rheinmetall AG	ACWX +0.03 points	0.15%	0.12%
Fast Retailing	ACWX +0.03 points	0.23%	0.20%
Dbs Group Holdings Ltd	ACWX +0.03 points	0.33%	0.30%
Dollarama	ACWX +0.03 points	0.11%	0.08%
Murata Manufacturing	VEU +0.03 points	0.18%	0.21%
Petroleo Brasileiro SA Petrobras	ACWX +0.03 points	0.11%	0.08%
Hitachi	ACWX +0.03 points	0.41%	0.38%
Kddi	ACWX +0.03 points	0.16%	0.13%
Equinor	ACWX +0.03 points	0.09%	0.06%

All 1,864 ACWX holdings⁠All 3,823 VEU holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ACWX vs VEU Cost

Overpaying ACWX vs VEU

$5,693

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ACWX 0.32%
$6,542
VEU 0.04%
$849

Amount$10,000

Years30 years

Cost over time

ACWX 0.32%
VEU 0.04%
Overpaying

Year by year

Year	ACWX	VEU	Overpaying
10	$580	$73	$507
20	$2,250	$288	$1,962
30	$6,542	$849	$5,693

Expense ratio

0.32%ACWX
0.04%VEU, cheaper

VEU0.04%ACWX0.32%

0.04%0.55%

Middle half of Total International Market funds
Median 0.23%

VEU cheapest of 8 funds

ACWX 7th cheapest of 8 funds

ACWX vs VEU Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ACWX 2.59%, better; VEU 2.43%
Payout (12M): ACWX $1.90; VEU $1.96
Last payment: ACWX $0.85; VEU $0.20
Ex-dividend: ACWX Jun 15, 2026; VEU Sep 18, 2026
Paid on: ACWX Jun 18, 2026; VEU Sep 22, 2026
Frequency: ACWX Twice a year; VEU Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ACWXTwice a year · 21 paymentsAll ACWX payments⁠

VEUQuarterly · 39 paymentsAll VEU payments⁠

ACWX vs VEU Risk

Fall from peak · 5 years

ACWX
VEU

Risk facts

VolatilityStd dev, 3 years: ACWX 11.9%VEU 11.9%
Return per unit of riskSharpe ratio, 3 years: ACWX 1.27VEU 1.27
Worst fallMax drawdown, 5 years: ACWX −29.1%VEU −28.5%, better
Market sensitivityBeta, 5 years: ACWX 0.84VEU 0.91; Market = 1

ACWX and VEU in the news

All news⁠

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Updated Nov 2, 2026VEU
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MFS Blended Research International Equity ETF turns one ahead of its index
Oct 22, 2026ACWX
New ETFs
Healthcare is 31% of Invesco's new QQI fund
Oct 5, 2026VEU
New ETFs
Avantis lists an international stock ETF with Vanguard on top
Oct 5, 2026VEU

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ACWX vs VEU

In short

Stated mandate

Why people hold it