Vanguard Diversified All Growth Index ETF (VDAL) — Review & Analysis

VDAL is Vanguard's all-equity diversified ETF — 100% growth assets with no bond allocation. Listed in March 2025, VDAL is Vanguard's direct response to DHHF (Betashares' all-equity diversified ETF), giving Vanguard a competitor in the all-growth segment that the existing VDHG at 10% bonds didn't address. The 0.27% p.a. fee matches the rest of the Vanguard diversified series. Compare VDAL across the all-in-one cohort on our all ETFs directory.

VDAL competes most directly with DHHF (Betashares Diversified All Growth, 0.19% MER) and GHHF (Geared Diversified All Growth). DHHF undercuts VDAL by 8bp on fee but offers similar 100% equity allocation across Australian, US, international developed, emerging markets and small caps. GHHF adds internal leverage on the same underlying mix, amplifying returns and risk. Vanguard's pitch for VDAL over DHHF is index methodology, brand and the institutional flow that comes with being part of the Vanguard ecosystem.

VDAL also competes with VDHG within Vanguard's own range. The difference is the bond sleeve — VDHG holds 10% in Australian and international bonds, while VDAL is 100% equities. For investors who specifically don't want any bond exposure (typically younger investors with long time horizons), VDAL is the cleaner option. For those who want a small defensive cushion, VDHG. The 100% equity structure means VDAL will fall materially harder than VDHG in equity drawdowns.

The fund is partially hedged for currency on its international bond component (which VDAL doesn't carry, given it's all equities) and is exposed to AUD/USD on the unhedged international equity portion. Our VDHG vs DHHF vs GHHF blog compares the all-growth diversified options head-to-head.