CEFA vs VSGX: Grades, Fees and Holdings Compared

Global X S&P Catholic Values Developed ex-U.S. ETF

CEFACNasdaq

Vanguard ESG International Stock ETF

VSGXACboe

Overlap

28.3%by weight

Expense ratio

VSGX −0.25pt a year

CEFA0.35%VSGX0.10%

Avg volume · 30D

VSGX 13.3×the volume

CEFA12.4KVSGX166K

5Y return · a year

VSGX +0.6pt

CEFA+6.8%VSGX+7.4%

CEFA vs VSGX Performance

Nov 9, 2021 – Nov 9, 2026

+38.9%CEFA+43.0%VSGX

Expense ratio: CEFA 0.35%; VSGX 0.10%, better
Fund size: CEFA $70M; VSGX $6.7B
1Y total return: CEFA +13.0%; VSGX +16.9%, better
Yield (12M): CEFA 2.70%; VSGX 3.07%, better
Holdings: CEFA 331; VSGX 6691
Avg volume (30D): CEFA 12.4K sh; VSGX 166K sh, better
NAV per share: CEFA $38.84; VSGX $76.60
52W range

ETF.net Grade

Pillar letters and Scores for CEFA, VSGX, with each pillar’s weight
Pillar	CEFA	VSGX
Cost30% weight	D35	A100Higher
Mission25% weight	A100	A100
Risk15% weight	D33	D36Higher
Tradability15% weight	C40	B61Higher
Holdings10% weight	C44	B59Higher
Durability5% weight	C43	A90Higher

Rank among International ESG & Values Index funds

How we build Categories ›

Same Category. CEFA and VSGX are both graded against the same 18 International ESG & Values Index funds, so their Grades compare head to head.

International ESG & Values Index⁠

Category · 18 funds

See all 18 ›

VSGX ranks 1st and CEFA 14th of 18 funds in the International ESG & Values Index Category.

Rank 1AVSGXVanguard ESG International Stock ETFScore 79
Rank 2AESGDiShares ESG Aware MSCI EAFE ETFScore 78
Rank 13BESGGNorthern Trust STOXX Global ESG Select ETFScore 55
Rank 14CCEFAGlobal X S&P Catholic Values Developed ex-U.S. ETFScore 53
Rank 15CWWJDInspire International ETFScore 47

Our read on each fund

ETF.net Research

CEFACGlobal X S&P Catholic Values Developed ex-U.S. ETF

VSGXAVanguard ESG International Stock ETF

In short

CEFA Developed-market stocks outside the U.S., run through a Catholic values screen. Roughly 400 names, index-tracked, at a fee that sits square in the middle of the international pack.

VSGX Most ex-US ESG funds stop at big developed-market names. VSGX casts a wider net: large, mid and small caps across developed and emerging markets, minus the industries its index screens out, for 0.10% a year.

Stated mandate

CEFA The Fund seeks to track, before fees and expenses, the price and yield performance of the S&P Developed ex-U.S. Catholic Values Index.

VSGX The Fund seeks to track an index of large-, mid-, and small-capitalization stocks from developed and emerging markets outside the United States, subject to environmental, social, and corporate-governance screening.

Why people hold it

CEFA The screen is the product: a passive index of developed-market companies outside the U.S., built around Catholic values criteria rather than a factor tilt.
Roughly 400 holdings, so the values filter trims the developed ex-U.S. universe instead of shrinking it to a concentrated handful.
0.35% expense ratio, the median for its international peer group. The screen is not priced as a premium product.
Rules-based and index-tracking since its 2020 launch: the portfolio follows the S&P Developed ex-U.S. Catholic Values Index, not a manager's discretion.

VSGX 0.10% a year, well under half the typical fee in its international ESG peer group. Vanguard's usual move: undercut the room.
Reaches past the usual EAFE box, holding thousands of stocks across developed and emerging markets. EAFE-based rivals like ESGD and DMXF cover developed large and mid caps only.msci.com
The screen is FTSE's rulebook, not Vanguard's opinion: out go fossil fuel reserves, weapons, tobacco, alcohol, gambling, adult entertainment and nuclear power, plus conduct flags.ftserussell.com
What survives the screen stays market-cap weighted, with no factor tilts or manager stock picks. Distributions land quarterly.lseg.com

Worth knowing

CEFA Unscreened international beta costs less: VXUS charges 0.05% and IPAC 0.09%. The values filter is what the extra basis points buy.
Thinly traded, so bid-ask spreads can run wider than in the giant international index funds, especially around the open and close.
Distributions arrive once or twice a year, not monthly, so cash flow is lumpy by design.

VSGX Cutting oil, gas, coal, nuclear and weapons names removes whole slices of the market, so results can drift from a plain ex-US index in either direction.ftserussell.com
Emerging markets, small caps and foreign currency all ride along, which can mean wider swings than a developed large-cap-only ex-US fund.
It de-selects rather than rewards: clearing the screen isn't the same as being a sustainability leader, and there's no carbon or Paris-alignment target.lseg.com

Full CEFA profile⁠

Full VSGX profile⁠

CEFA vs VSGX Holdings

How CEFA and VSGX differ

Overlap by weight

28.3%

Shared holdings make up 64.4% of CEFA and 28.3% of VSGX.

Level by level

Holdings193 in both28.3%
Countryby domicile56.2%
Sector11 Sectors79.6%
Asset classStocks100%

Sector

Sector weights in CEFA and VSGX, widest gap first
Sector	Gap	CEFA	VSGX
Technology	VSGX +15.9 points	11.7%	27.6%
Industrials	CEFA +8.7 points	17.0%	8.3%
Energy	CEFA +5.0 points	5.0%	0.0%
Utilities	CEFA +2.6 points	3.2%	0.6%
Health Care	CEFA +2.4 points	11.4%	9.0%
Real Estate	VSGX +1.7 points	1.0%	2.7%
Consumer Staples	CEFA +1.6 points	6.2%	4.6%
Financials	VSGX +1.5 points	26.9%	28.4%
Consumer Discretionary	VSGX +0.7 points	7.9%	8.6%
Materials	VSGX +0.6 points	5.1%	5.7%
Communication	CEFA +0.2 points	4.6%	4.4%

Country, concentration and asset class

Country by domicile

Country weights in CEFA and VSGX, widest gap first
Country	Gap	CEFA	VSGX
Taiwan	VSGX +12.4 points	0.0%	12.4%
Japan	CEFA +10.7 points	27.8%	17.1%
South Korea	VSGX +8.0 points	0.0%	8.0%
China	VSGX +6.6 points	0.2%	6.8%
France	CEFA +6.5 points	9.4%	2.9%
Canada	VSGX +6.4 points	0.0%	6.4%
Australia	CEFA +5.2 points	9.1%	3.9%
Germany	CEFA +5.1 points	9.2%	4.1%
Other countries (31)	CEFA +5.8 points	44.3%	38.5%

Outside the US: CEFA 98% developed, 2% emerging. VSGX 61% developed, 39% emerging.

Concentration

Weight in the 10 largest Holdings

CEFA17.6%
VSGX18.0%

Securities held

CEFA327
VSGX6,651

Asset class

CEFA: Stocks
VSGX: Stocks

Holdings

Only in CEFA134
In both193
Only in VSGX6,458

Only in CEFA

134 securities, 35.6% of CEFA by weight

Siemens Ag-Reg1.68%
Hsbc Holdings PLC1.67%
Shell PLC1.62%
Schneider Electric SE1.15%
Bhp Group Ltd1.15%
Totalenergies SE1.02%
Abb Ltd-Reg0.99%
Iberdrola SA0.86%
Itochu Corp0.79%
Siemens Energy AG0.78%
Anheuser-Busch Inbev Sa/Nv0.77%
Air Liquide SA0.76%
Lvmh Moet Hennessy Louis Vui0.72%
Cie Financiere Richemo-A Reg0.69%
Mitsui & Co Ltd0.67%
Bp PLC0.66%
Dbs Group Holdings Ltd0.62%
Diageo PLC0.54%
Rio Tinto PLC0.51%
Spotify Technology SA0.49%
Vinci SA0.49%
National Grid PLC0.48%
Oversea-Chinese Banking Corp0.47%
Enel Spa0.46%
Muenchener Rueckver Ag-Reg0.45%
Mitsubishi Electric Corp0.45%
Investor Ab-B Shs0.44%
Volvo Ab-B Shs0.40%
Marubeni Corp0.39%
Sumitomo Corp0.38%
Atlas Copco Ab-A Shs0.38%
Glencore PLC0.35%
Nordea Bank Abp0.35%
Anglo American PLC0.33%
Assa Abloy Ab-B0.31%
Basf SE0.31%
Engie0.29%
Other Payable & Receivables0.29%
Eni Spa0.28%
Komatsu Ltd0.27%
Prysmian Spa0.27%
E.on SE0.27%
Holcim Ltd0.26%
Rwe AG0.25%
Heineken NV0.25%
United Overseas Bank Ltd0.23%
Woodside Energy Group Ltd0.23%
Ferrovial NV0.22%
Rio Tinto Ltd0.22%
Coca-Cola Europacific Partners PLC0.22%

Only in VSGX

6,458 securities, 71.9% of VSGX by weight

Taiwan Semiconductor Manufacturing Co Ltd5.75%
Samsung Electronics Co Ltd2.74%
SK hynix Inc2.24%
SLCMT11421.11%
Roche Holding AG0.88%
Royal Bank of Canada0.83%
Novartis AG0.80%
Alibaba Group Holding Ltd0.77%
AstraZeneca PLC0.73%
Nestle SA0.71%
MediaTek Inc0.68%
Shopify Inc0.55%
MSCI EAFE Dec260.44%
Sony Group Corp0.42%
Delta Electronics Inc0.41%
DBS Group Holdings Ltd0.37%
Novo Nordisk A/S0.36%
Bank of Montreal0.36%
Samsung Electronics-Pref0.35%
Bank of Nova Scotia/The0.34%
China Construction Bank Corp0.33%
Canadian Imperial Bank of Commerce0.31%
Hon Hai Precision Industry Co Ltd0.29%
Gsk PLC0.29%
Agnico Eagle Mines Ltd0.28%
MSCI EmgMkt Dec260.28%
Sanofi SA0.27%
HDFC Bank Ltd0.26%
Oversea-Chinese Banking Corp Ltd0.24%
Industrial & Commercial Bank of China Ltd0.24%
SK Square Co Ltd0.23%
ICICI Bank Ltd0.22%
ASE Technology Holding Co Ltd0.22%
Manulife Financial Corp0.22%
Investor AB0.21%
L'Oreal SA0.19%
Nordea Bank Abp0.19%
Samsung Electro-Mechanics Co Ltd0.18%
Wheaton Precious Metals Corp0.18%
Pdd Holdings Inc0.18%
Takeda Pharmaceutical Co Ltd0.18%
Bharti Airtel Ltd0.17%
United Microelectronics Corp0.17%
Xiaomi Corp0.17%
National Bank of Canada0.17%
Bayer AG0.16%
Bank of China Ltd0.16%
Basf SE0.15%
Meituan0.15%
Atlas Copco AB0.15%

Weight gaps

The 100 widest of 193 Holdings in both funds.

Holding weights in CEFA and VSGX, widest gap first
Holding	Gap	CEFA	VSGX
Csl Ltd	CEFA +1.68 points	1.87%	0.18%
Essilorluxottica	CEFA +1.63 points	1.78%	0.15%
Argenx SE	CEFA +1.42 points	1.60%	0.18%
Hoya Corp	CEFA +1.18 points	1.33%	0.15%
Galderma Group AG	CEFA +1.11 points	1.22%	0.11%
Asml Holding NV	CEFA +1.06 points	3.15%	2.09%
Ucb SA	CEFA +1.02 points	1.10%	0.08%
L'oreal	CEFA +1.01 points	1.11%	0.10%
Unilever PLCULVR.L	CEFA +0.98 points	1.36%	0.38%
Toyota Motor Corp	CEFA +0.97 points	1.55%	0.58%
Otsuka Holdings Co Ltd	CEFA +0.85 points	0.95%	0.10%
Recruit Holdings Co Ltd	CEFA +0.77 points	1.20%	0.43%
Sap SE	CEFA +0.73 points	1.35%	0.62%
Mitsubishi Ufj Financial Gro	CEFA +0.59 points	1.35%	0.76%
Commonwealth Bank of Austral	CEFA +0.54 points	1.07%	0.53%
Allianz Se-Reg	CEFA +0.52 points	1.06%	0.54%
Siemens Healthineers AG	CEFA +0.46 points	0.51%	0.05%
Fisher & Paykel Healthcare C	CEFA +0.39 points	0.44%	0.05%
Fast Retailing Co Ltd	CEFA +0.40 points	0.65%	0.25%
Banco Santander SA	CEFA +0.39 points	1.00%	0.61%
Relx PLCREL.L	CEFA +0.39 points	0.56%	0.17%
Shionogi & Co Ltd	CEFA +0.38 points	0.42%	0.04%
Ubs Group Ag-Reg	CEFA +0.37 points	0.82%	0.45%
Zurich Insurance Group AG	CEFA +0.34 points	0.64%	0.30%
Danone	CEFA +0.33 points	0.46%	0.13%
Sumitomo Mitsui Financial Gr	CEFA +0.33 points	0.81%	0.48%
Unicredit Spa	CEFA +0.32 points	0.72%	0.40%
Banco Bilbao Vizcaya Argenta	CEFA +0.32 points	0.79%	0.47%
Tokio Marine Holdings Inc	CEFA +0.30 points	0.58%	0.28%
Dhl AG	CEFA +0.29 points	0.47%	0.18%
Sigma Healthcare Ltd	CEFA +0.28 points	0.31%	0.03%
Aia Group Ltd	CEFA +0.28 points	0.57%	0.29%
Advantest Corp	CEFA +0.26 points	0.74%	0.48%
Industria De Diseno Textil	CEFA +0.26 points	0.46%	0.20%
Bnp Paribas	CEFA +0.24 points	0.56%	0.32%
Intesa Sanpaolo	CEFA +0.25 points	0.59%	0.34%
Woolworths Group Ltd	CEFA +0.24 points	0.34%	0.10%
Dsv A/S	CEFA +0.24 points	0.34%	0.10%
Westpac Banking Corp	CEFA +0.23 points	0.48%	0.25%
Anz Group Holdings Ltd	CEFA +0.22 points	0.46%	0.24%
National Australia Bank Ltd	CEFA +0.23 points	0.48%	0.25%
Mizuho Financial Group Inc	CEFA +0.22 points	0.62%	0.40%
Wesfarmers Ltd	CEFA +0.22 points	0.40%	0.18%
Axa SA	CEFA +0.21 points	0.45%	0.24%
Deutsche Telekom Ag-Reg	CEFA +0.20 points	0.51%	0.31%
Ing Groep NV	CEFA +0.20 points	0.51%	0.31%
Keyence Corp	CEFA +0.20 points	0.49%	0.29%
Compass Group PLCCPG.L	CEFA +0.20 points	0.35%	0.15%
Seven & I Holdings Co Ltd	CEFA +0.20 points	0.28%	0.08%
Tokyo Electron Ltd	CEFA +0.19 points	0.69%	0.50%
Sandvik Ab	CEFA +0.19 points	0.31%	0.12%
Deutsche Boerse AG	CEFA +0.19 points	0.37%	0.18%
Deutsche Bank Ag-Registered	CEFA +0.18 points	0.37%	0.19%
Hermes International	CEFA +0.18 points	0.34%	0.16%
Ferrari NV	CEFA +0.17 points	0.31%	0.14%
Barclays PLCBARC.L	CEFA +0.17 points	0.42%	0.25%
Prosus NV	CEFA +0.17 points	0.31%	0.14%
Lloyds Banking Group PLCLLOY.L	CEFA +0.16 points	0.41%	0.25%
Transurban Group	CEFA +0.16 points	0.25%	0.09%
Honda Motor Co Ltd	CEFA +0.16 points	0.28%	0.12%
Vestas Wind Systems A/S	CEFA +0.16 points	0.25%	0.09%
Swiss Re AG	CEFA +0.15 points	0.30%	0.15%
Nintendo Co Ltd	CEFA +0.15 points	0.31%	0.16%
East Japan Railway Co	CEFA +0.15 points	0.22%	0.07%
London Stock Exchange GroupLSEG.L	CEFA +0.15 points	0.30%	0.15%
Shin-Etsu Chemical Co Ltd	CEFA +0.15 points	0.36%	0.21%
Kao Corp	CEFA +0.15 points	0.21%	0.06%
Kone Oyj-B	CEFA +0.14 points	0.20%	0.06%
Fanuc Corp	CEFA +0.14 points	0.25%	0.11%
Aeon Co Ltd	CEFA +0.15 points	0.21%	0.06%
Macquarie Group Ltd	CEFA +0.14 points	0.32%	0.18%
Generali	CEFA +0.14 points	0.28%	0.14%
Central Japan Railway Co	CEFA +0.14 points	0.20%	0.06%
Hong Kong Exchanges & Clear	CEFA +0.13 points	0.31%	0.18%
Techtronic Industries Co Ltd	CEFA +0.13 points	0.20%	0.07%
Natwest Group PLCNWG.L	CEFA +0.13 points	0.35%	0.22%
Kddi Corp	CEFA +0.12 points	0.28%	0.16%
Caixabank SA	CEFA +0.11 points	0.27%	0.16%
Infineon Technologies AG	CEFA +0.12 points	0.38%	0.26%
Oriental Land Co Ltd	CEFA +0.11 points	0.17%	0.06%
MS&AD Insurance Group Holdin	CEFA +0.11 points	0.23%	0.12%
Brambles Ltd	CEFA +0.11 points	0.16%	0.05%
Standard Chartered PLCSTAN.L	CEFA +0.11 points	0.27%	0.16%
Erste Group Bank AG	CEFA +0.10 points	0.22%	0.12%
Societe Generale SA	CEFA +0.10 points	0.26%	0.16%
Goodman Group	CEFA +0.11 points	0.22%	0.11%
Suzuki Motor Corp	CEFA +0.10 points	0.17%	0.07%
Bandai Namco Holdings Inc	CEFA +0.10 points	0.16%	0.06%
Bridgestone Corp	CEFA +0.10 points	0.18%	0.08%
Nec Corp	CEFA +0.10 points	0.21%	0.11%
Mercedes-Benz Group AG	CEFA +0.10 points	0.20%	0.10%
Sompo Holdings Inc	CEFA +0.09 points	0.20%	0.11%
Daiichi Life Group Inc	CEFA +0.10 points	0.22%	0.12%
Smc Corp	CEFA +0.09 points	0.17%	0.08%
Panasonic Holdings Corporation	CEFA +0.09 points	0.29%	0.20%
Softbank Corp	CEFA +0.09 points	0.22%	0.13%
Mitsubishi Estate Co Ltd	CEFA +0.10 points	0.17%	0.07%
Secom Co Ltd	CEFA +0.08 points	0.13%	0.05%
Asics Corp	CEFA +0.09 points	0.14%	0.05%
Bank Leumi Le-Israel	CEFA +0.08 points	0.19%	0.11%

All 326 CEFA holdings⁠All 6,648 VSGX 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.

CEFA vs VSGX Cost

Overpaying CEFA vs VSGX

$5,020

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

CEFA 0.35%
$7,126
VSGX 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

CEFA 0.35%
VSGX 0.10%
Overpaying

Year by year

Year	CEFA	VSGX	Overpaying
10	$634	$183	$451
20	$2,454	$717	$1,737
30	$7,126	$2,106	$5,020

Expense ratio

0.35%CEFA
0.10%VSGX, cheaper

VSGX0.10%CEFA0.35%

0.10%0.95%

Middle half of International ESG & Values Index funds
Median 0.23%

VSGX cheapest of 18 funds

CEFA 12th cheapest of 18 funds

CEFA vs VSGX Dividends

Last 12 months to Nov 9, 2026

Yield (12M): CEFA 2.70%; VSGX 3.07%, better
Payout (12M): CEFA $1.08; VSGX $2.43
Last payment: CEFA $0.42; VSGX $0.47
Ex-dividend: CEFA Jun 29, 2026; VSGX Sep 18, 2026
Paid on: CEFA Jul 7, 2026; VSGX Sep 22, 2026
Frequency: CEFA Twice a year; VSGX Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

CEFATwice a year · 12 paymentsAll CEFA payments⁠

VSGXQuarterly · 31 paymentsAll VSGX payments⁠

CEFA vs VSGX Risk

Fall from peak · 5 years

CEFA
VSGX

Risk facts

VolatilityStd dev, 3 years: CEFA 12.0%, betterVSGX 12.8%
Return per unit of riskSharpe ratio, 3 years: CEFA 1.08VSGX 1.20, better
Worst fallMax drawdown, 5 years: CEFA −31.0%, betterVSGX −31.2%
Market sensitivityBeta, 5 years: CEFA 0.94VSGX 0.97; Market = 1

CEFA and VSGX in the news

All news⁠

ETF Filings
Calamos to liquidate its Giannis Antetokounmpo sustainable ETF
Sep 11, 2026VSGX

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CEFA vs VSGX

In short

Stated mandate

Why people hold it

Worth knowing

How CEFA and VSGX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CEFA

Only in VSGX

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Calamos to liquidate its Giannis Antetokounmpo sustainable ETF

How CEFA and VSGX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CEFA

Only in VSGX

Weight gaps