LCTD vs VSGX: Grades, Fees and Holdings Compared

iShares World ex U.S. Carbon Transition Readiness Aware Active ETF

LCTDBNYSE Arca

Vanguard ESG International Stock ETF

VSGXACboe

Overlap

31.0%by weight

Expense ratio

VSGX −0.12pt a year

LCTD0.22%VSGX0.10%

Avg volume · 30D

VSGX 11.1×the volume

LCTD15KVSGX166K

5Y return · a year

VSGX +0.2pt

LCTD+7.2%VSGX+7.4%

LCTD vs VSGX Performance

Oct 29, 2021 – Oct 30, 2026

+41.5%LCTD+43.0%VSGX

Expense ratio: LCTD 0.22%; VSGX 0.10%, better
Fund size: LCTD $318M; VSGX $6.7B
1Y total return: LCTD +11.3%; VSGX +14.4%, better
Yield (12M): LCTD 3.36%, better; VSGX 3.11%
Holdings: LCTD 352; VSGX 6667
Avg volume (30D): LCTD 15K sh; VSGX 166K sh, better
NAV per share: LCTD $58.04; VSGX $77.91
52W range

ETF.net Grade

Pillar letters and Scores for LCTD, VSGX, with each pillar’s weight
Pillar	LCTD	VSGX
Cost30% weight	B59	A100Higher
Mission25% weight	Not scored	A100
Risk15% weight	B59Higher	C49
Tradability15% weight	B59	B64Higher
Holdings10% weight	B66Higher	B60
Durability5% weight	C49	A92Higher

Rank among International ESG & Values Index funds

How we build Categories ›

Same Category. LCTD 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 LCTD 9th of 18 funds in the International ESG & Values Index Category.

Rank 1AVSGXVanguard ESG International Stock ETFScore 82
Rank 2AESGDiShares ESG Aware MSCI EAFE ETFScore 79
Rank 9BDFSIDimensional International Sustainability Core 1 ETFScore 59
Rank 9BLCTDiShares World ex U.S. Carbon Transition Readiness Aware Active ETFScore 59
Rank 12BESGGNorthern Trust STOXX Global ESG Select ETFScore 56

Our read on each fund

ETF.net Research

LCTDBiShares World ex U.S. Carbon Transition Readiness Aware Active ETF

VSGXAVanguard ESG International Stock ETF

In short

LCTD Instead of banning fossil fuels, LCTD stays inside the MSCI World ex USA universe and tilts toward the companies BlackRock scores as readiest for the low-carbon shift. 0.22% net of a waiver through June 30, 2027.

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

LCTD The Fund seeks to outperform the MSCI World ex USA Index before expenses by applying BlackRock's proprietary Low Carbon Economy Transition Readiness score criteria.

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

LCTD Not a purity screen. It buys index members and over- or underweights each against industry peers, targeting a readiness score at least 10% better than the index at purchase.sec.gov
The climate tilt sits on market-shaped risk: the prospectus has it matching the risk profile of MSCI World ex USA, spread across roughly 300 developed-market stocks outside the US.sec.gov
Active stock-picking at 0.22% net of a waiver through June 30, 2027 (0.37% gross), a fee that lands near the median of its international sustainable-equity peers.
One of BlackRock's two 2021 carbon-transition launches, and the one that looks outside the US. Live since April 2021, with a few hundred million dollars behind it.blackrock.com

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

LCTD Index rivals cost less: VSGX at 0.10%, DMXF at 0.12% and FEDM at 0.12% net of a waiver through March 1, 2027. LCTD's own waiver runs to June 30, 2027; gross is 0.37%.
Thinly traded, so spreads can run wider than the big index names in the category and larger orders meet less depth on screen.
Everything hinges on BlackRock's proprietary score. The 10% readiness uplift is measured at the time of investment and can drift with markets and data changes.sec.gov

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 LCTD profile⁠

Full VSGX profile⁠

LCTD vs VSGX Holdings

How LCTD and VSGX differ

Overlap by weight

31.0%

Shared holdings make up 71.0% of LCTD and 35.3% of VSGX.

Level by level

Holdings236 in both31.0%
Countryby domicile58.8%
Sector11 Sectors78.5%
Asset classEquity100%

Sector

Sector weights in LCTD and VSGX, widest gap first
Sector	More in LCTDMore in VSGX	LCTD	VSGX
Technology	VSGX +17.4 points	10.7%	28.1%
Industrials	LCTD +8.8 points	17.0%	8.2%
Energy	LCTD +5.8 points	5.9%	0.1%
Utilities	LCTD +3.0 points	3.6%	0.6%
Consumer Staples	LCTD +1.9 points	6.6%	4.7%
Materials	LCTD +1.3 points	7.3%	6.0%
Real Estate	VSGX +1.3 points	1.4%	2.7%
Communication	VSGX +1.1 points	3.1%	4.2%
Financials	VSGX +1.0 points	27.3%	28.3%
Consumer Discretionary	VSGX +0.7 points	7.5%	8.2%
Health Care	LCTD +0.6 points	9.6%	9.0%

Country, concentration and asset class

Country by domicile

Country weights in LCTD and VSGX, widest gap first
Country	More in LCTDMore in VSGX	LCTD	VSGX
Taiwan	VSGX +12.4 points	0.0%	12.4%
South Korea	VSGX +8.0 points	0.0%	8.0%
Canada	LCTD +7.5 points	13.9%	6.4%
China	VSGX +6.8 points	0.0%	6.8%
Japan	LCTD +5.7 points	22.8%	17.1%
France	LCTD +5.6 points	8.5%	2.9%
United Kingdom	LCTD +5.4 points	11.3%	5.9%
Germany	LCTD +4.5 points	8.6%	4.1%
Other countries (30)	VSGX +1.7 points	34.8%	36.5%

Outside the US: LCTD 100% developed, 0% emerging. VSGX 61% developed, 39% emerging.

Concentration

Weight in the 10 largest Holdings

LCTD15.8%
VSGX18.1%

Securities held

LCTD336
VSGX6,625

Asset class

LCTD: Equity
VSGX: Equity

Holdings

Only in LCTD100
In both236
Only in VSGX6,389

Only in LCTD

100 securities, 27.0% of LCTD by weight

Hitachi1.13%
Enbridge1.09%
Hsbc Holdings PLC1.05%
Shell1.01%
Toronto Dominion0.99%
Totalenergies0.97%
Eni0.97%
Schneider Electric0.94%
Iberdrola0.94%
Siemens N AG0.88%
Bhp Group Ltd0.81%
Engie SA0.77%
Bp PLC0.76%
Edp Energias De Portugal0.72%
Franco Nevada0.64%
Airbus Group0.64%
Siemens Energy N AG0.59%
Alfa Laval0.55%
Rolls-Royce Holdings PLC0.53%
Dassault Systemes0.39%
Bae Systems PLC0.38%
Alimentation Couche Tard Inc0.38%
Abb Ltd0.37%
Kawasaki Kisen Ltd0.37%
Mitsubishi Heavy Industries0.34%
Inpex0.33%
Spotify Technology0.32%
Lvmh0.31%
Adidas N AG0.30%
Wsp Global Inc0.29%
Sumitomo Metal Mining0.29%
Glencore PLC0.28%
Stantec0.27%
Sse PLC0.25%
Komatsu0.24%
Anheuser-Busch Inbev SA0.23%
Mitsui0.21%
Saab Class B0.21%
Orsted A/S0.21%
Fortum0.19%
Aib Group PLC0.19%
Diageo PLC0.17%
Asahi Group Holdings0.17%
Toyota Tsusho0.16%
Mitsubishi Electric0.15%
Bombardier Class B0.15%
Teva Pharmaceutical Industries0.15%
Jeronimo Martins SA0.15%
Teck Resources Subordinate Voting0.14%
Kajima0.14%

Only in VSGX

6,389 securities, 64.3% of VSGX by weight

Taiwan Semiconductor Manufacturing Co Ltd5.79%
Samsung Electronics Co Ltd2.76%
SK hynix Inc2.26%
SLCMT11421.12%
Alibaba Group Holding Ltd0.78%
MediaTek Inc0.69%
Banco Bilbao Vizcaya Argentaria SA0.48%
Delta Electronics Inc0.41%
Samsung Electronics-Pref0.35%
China Construction Bank Corp0.34%
Deutsche Telekom AG0.31%
Hon Hai Precision Industry Co Ltd0.29%
Agnico Eagle Mines Ltd0.28%
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%
Investor AB0.21%
Shin-Etsu Chemical Co Ltd0.21%
L'Oreal SA0.19%
Nordea Bank Abp0.19%
Samsung Electro-Mechanics Co Ltd0.19%
Pdd Holdings Inc0.18%
Wesfarmers Ltd0.18%
Deutsche Boerse AG0.18%
Hong Kong Exchanges & Clearing Ltd0.18%
Takeda Pharmaceutical Co Ltd0.18%
Bharti Airtel Ltd0.17%
United Microelectronics Corp0.17%
Xiaomi Corp0.17%
Standard Chartered PLC0.16%
CaixaBank SA0.16%
Bank of China Ltd0.16%
Hoya Corp0.15%
Basf SE0.15%
Meituan0.15%
Al Rajhi Bank0.15%
Swiss Re AG0.15%
EssilorLuxottica SA0.15%
Unimicron Technology Corp0.15%
Lonza Group AG0.15%
Volvo AB0.14%
Itau Unibanco Holding S-Pref0.14%
ASM International NV0.14%
Teva Pharmaceutical Industries Ltd0.14%
Ferrari NV0.14%
Elite Material Co Ltd0.14%
NetEase Inc0.13%

Weight gaps

The 100 widest of 236 Holdings in both funds.

Holding weights in LCTD and VSGX, widest gap first
Holding	More in LCTDMore in VSGX	LCTD	VSGX
Royal Bank of Canada	LCTD +1.32 points	2.16%	0.84%
Givaudan SA	LCTD +1.16 points	1.25%	0.09%
Novartis AG	LCTD +0.99 points	1.80%	0.81%
Bank of Montreal	LCTD +0.94 points	1.30%	0.36%
Sap	LCTD +0.85 points	1.47%	0.62%
Sanofi SA	LCTD +0.83 points	1.10%	0.27%
Aia Group	LCTD +0.82 points	1.11%	0.29%
Gea Group AG	LCTD +0.79 points	0.82%	0.03%
Orkla	LCTD +0.71 points	0.73%	0.02%
Koninklijke Kpn NV	LCTD +0.71 points	0.76%	0.05%
Swiss Life Holding AG	LCTD +0.67 points	0.76%	0.09%
Eqt	LCTD +0.65 points	0.69%	0.04%
Nestle SA	LCTD +0.63 points	1.34%	0.71%
Roche Ps Par AG	VSGX +0.62 points	0.27%	0.89%
Intesa Sanpaolo	LCTD +0.59 points	0.94%	0.35%
Astellas Pharma	LCTD +0.58 points	0.66%	0.08%
Admiral Group PLCADM.L	LCTD +0.57 points	0.61%	0.04%
Daiwa House Industry	LCTD +0.56 points	0.61%	0.05%
Kao	LCTD +0.56 points	0.62%	0.06%
Macquarie Group Ltd Def	LCTD +0.56 points	0.74%	0.18%
Astrazeneca PLCAZN.L	LCTD +0.54 points	1.28%	0.74%
Loreal SA	LCTD +0.54 points	0.65%	0.11%
Banco Santander	LCTD +0.53 points	1.14%	0.61%
Industria De Diseno Textil SA	LCTD +0.52 points	0.73%	0.21%
Intact Financial Corp	LCTD +0.52 points	0.61%	0.09%
Asml Holding	LCTD +0.51 points	2.61%	2.10%
Fujifilm Holdings	LCTD +0.49 points	0.57%	0.08%
Koninklijke Philips	LCTD +0.50 points	0.56%	0.06%
Canadian Imperial Bank of Commerce	LCTD +0.49 points	0.80%	0.31%
Advantest	LCTD +0.49 points	0.98%	0.49%
Wheaton Precious Metals	LCTD +0.48 points	0.66%	0.18%
Toray Industries	LCTD +0.46 points	0.49%	0.03%
Bank of Nova Scotia	LCTD +0.45 points	0.79%	0.34%
Ubs Group AG	LCTD +0.43 points	0.88%	0.45%
Bmw	LCTD +0.43 points	0.49%	0.06%
Transurban Group Stapled Units	LCTD +0.42 points	0.51%	0.09%
Dhl AG	LCTD +0.42 points	0.60%	0.18%
Kuehne Und Nagel International AG	LCTD +0.40 points	0.44%	0.04%
Sonova Holding AG	LCTD +0.39 points	0.43%	0.04%
Asics	LCTD +0.38 points	0.43%	0.05%
Commonwealth Bank of Australia	LCTD +0.37 points	0.90%	0.53%
Genmab	LCTD +0.37 points	0.43%	0.06%
Commerzbank AG	LCTD +0.34 points	0.43%	0.09%
Knorr Bremse AG	LCTD +0.34 points	0.36%	0.02%
Unicredit	VSGX +0.32 points	0.08%	0.40%
Ing Groep	LCTD +0.31 points	0.62%	0.31%
Brambles	LCTD +0.29 points	0.35%	0.06%
Bnp Paribas SA	VSGX +0.30 points	0.02%	0.32%
Ucb SA	LCTD +0.30 points	0.38%	0.08%
Westpac Banking Corporation	LCTD +0.29 points	0.54%	0.25%
Asahi Kasei	LCTD +0.28 points	0.32%	0.04%
National Bank of Canada	LCTD +0.28 points	0.45%	0.17%
Tokyo Electron	LCTD +0.28 points	0.78%	0.50%
Pan American Silver	LCTD +0.27 points	0.33%	0.06%
Nomura Holdings	LCTD +0.26 points	0.35%	0.09%
Kubota	LCTD +0.26 points	0.31%	0.05%
Prosus NV Class N	LCTD +0.25 points	0.40%	0.15%
Klepierre Reit SA	LCTD +0.25 points	0.28%	0.03%
Deutsche Bank AG	LCTD +0.25 points	0.44%	0.19%
Mizuho Financial Group	VSGX +0.25 points	0.15%	0.40%
Shiseido	LCTD +0.25 points	0.28%	0.03%
Softbank	LCTD +0.25 points	0.38%	0.13%
Denso	LCTD +0.25 points	0.31%	0.06%
Chugai Pharmaceutical Ltd	LCTD +0.23 points	0.31%	0.08%
Boliden	LCTD +0.24 points	0.28%	0.04%
Symrise AG	LCTD +0.22 points	0.26%	0.04%
GlaxosmithklineGSK.L	LCTD +0.23 points	0.52%	0.29%
Infineon Technologies AG	VSGX +0.22 points	0.05%	0.27%
Amundi SA	LCTD +0.21 points	0.23%	0.02%
Ericsson B	LCTD +0.21 points	0.29%	0.08%
Relx PLCREL.L	LCTD +0.19 points	0.37%	0.18%
Stora Enso Class R	LCTD +0.20 points	0.22%	0.02%
Kone	LCTD +0.19 points	0.25%	0.06%
Bank of Ireland Group PLC	LCTD +0.19 points	0.25%	0.06%
Axa SA	VSGX +0.19 points	0.05%	0.24%
Olympus	LCTD +0.18 points	0.22%	0.04%
Natwest Group PLCNWG.L	LCTD +0.19 points	0.41%	0.22%
Nec	LCTD +0.18 points	0.29%	0.11%
Secom	LCTD +0.17 points	0.22%	0.05%
Compass Group PLCCPG.L	LCTD +0.17 points	0.32%	0.15%
Toyota Motor	LCTD +0.17 points	0.75%	0.58%
Recruit Holdings Ltd	LCTD +0.16 points	0.60%	0.44%
Keyence	VSGX +0.17 points	0.12%	0.29%
Mercedes-Benz Group N AG	LCTD +0.16 points	0.27%	0.11%
Mowi	LCTD +0.16 points	0.19%	0.03%
Informa PLCINF.L	LCTD +0.17 points	0.21%	0.04%
Hermes International	LCTD +0.16 points	0.32%	0.16%
Allianz	LCTD +0.17 points	0.71%	0.54%
Telstra Group	LCTD +0.16 points	0.20%	0.04%
Lloyds Banking Group PLCLLOY.L	LCTD +0.16 points	0.41%	0.25%
Argenx	VSGX +0.15 points	0.03%	0.18%
Unilever PLCULVR.L	VSGX +0.16 points	0.23%	0.39%
Daiichi Sankyo Ltd	LCTD +0.15 points	0.25%	0.10%
Legal and General Group PLCLGEN.L	LCTD +0.15 points	0.21%	0.06%
Nitto Denko	LCTD +0.15 points	0.19%	0.04%
Cellnex Telecom	LCTD +0.15 points	0.19%	0.04%
Sainsbury(J) PLCSBRY.L	LCTD +0.14 points	0.17%	0.03%
Vestas Wind Systems	LCTD +0.13 points	0.22%	0.09%
Suncorp Group	LCTD +0.13 points	0.18%	0.05%
Screen Holdings Ltd	LCTD +0.13 points	0.18%	0.05%

All 336 LCTD holdings⁠All 6,429 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.

LCTD vs VSGX Cost

Overpaying LCTD vs VSGX

$2,452

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

LCTD 0.22%
$4,558
VSGX 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

LCTD 0.22%
VSGX 0.10%
Overpaying

Year by year

Year	LCTD	VSGX	Overpaying
10	$401	$183	$218
20	$1,561	$717	$844
30	$4,558	$2,106	$2,452

Expense ratio

0.22%LCTD
0.10%VSGX, cheaper

VSGX0.10%LCTD0.22%

0.10%0.95%

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

VSGX cheapest of 18 funds

LCTD 8th cheapest of 18 funds

LCTD vs VSGX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): LCTD 3.36%, better; VSGX 3.11%
Payout (12M): LCTD $1.95; VSGX $2.43
Last payment: LCTD $0.96; VSGX $0.47
Ex-dividend: LCTD Jun 15, 2026; VSGX Sep 18, 2026
Paid on: LCTD Jun 18, 2026; VSGX Sep 22, 2026
Frequency: LCTD Twice a year; VSGX Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

LCTDTwice a year · 11 paymentsAll LCTD payments⁠

VSGXQuarterly · 31 paymentsAll VSGX payments⁠

LCTD vs VSGX Risk

Fall from peak · 5 years

LCTD
VSGX

Risk facts

VolatilityStd dev, 3 years: LCTD 11.7%, betterVSGX 12.8%
Return per unit of riskSharpe ratio, 3 years: LCTD 1.14VSGX 1.20, better
Worst fallMax drawdown, 5 years: LCTD −29.7%, betterVSGX −31.2%
Market sensitivityBeta, 5 years: LCTD 0.80VSGX 0.97; Market = 1

LCTD and VSGX in the news

All news⁠

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

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LCTD vs VSGX

In short

Stated mandate

Why people hold it

Worth knowing

How LCTD and VSGX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in LCTD

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 LCTD and VSGX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in LCTD

Only in VSGX

Weight gaps