Vanguard FTSE Europe Shares ETF (VEQ) Review & Analysis

MER · Top 50%AUM · Top 25%1Y Return · Top 50%3Y Return · Top 50%5Y Return · Top 50%
What's new this monthData to 30 September 2026
  • −1.3% in September (total return), behind the median international shares ETF at +0.0%.
  • Investors added a net $3.6m (0.6% of the fund).
  • The unit price closed the month at $89.97, 3% below its 12-month high (range $80.01 to $93.15).

About VEQ

VEQ is an international shares ETF from Vanguard, listed on the ASX since December 2015. With $632m under management it is number 54 of 254 international shares ETFs by size. The management fee is 0.35% a year, about $35 on every $10,000 invested, cheaper than the typical international shares ETF at 0.55%.

Its largest holdings are ASML Holding NV, HSBC Holdings PLC and Roche Holding AG, and the top 10 make up 19% of the fund. By sector it leans towards financials (27%) and industrials (15%). United Kingdom is the biggest country exposure at 23%.

Over five years it has returned +8.5% a year including distributions, against +8.8% for the median international shares ETF.

VEQ distributions and dividend dates

VEQ pays distributions monthly, with payment about 15 days after the ex-date. (Pattern estimated from recent payments.)

The latest distribution was $0.1229 per unit (0% franked), ex-distribution on 1 October 2026 and paid on 16 October 2026. To receive it you need to own VEQ before the ex-date.

Its distribution yield over the past 12 months is about 2.1%. Distributions vary and past payments are not a guide to future ones.

From ASX announcements, updated nightly. See every ETF in the dividend calendar.

Compare VEQCheck overlapVanguard website ↗

Compare VEQ with

VEQvsIEU
iShares Europe ETF
Fee0.35%0.58%
1 year+7.7%+8.3%
5 yrs p.a.+8.5%+9.3%
Size$632m$1.3bn
Same holdings86%Near identical
Full comparison →
VEQvsVGE
Vanguard FTSE Emerging Markets Shares ETF
Fee0.35%0.48%
1 year+7.7%+6.0%
5 yrs p.a.+8.5%+5.8%
Size$632m$2.2bn
Same holdings0%No companies in common
Full comparison →
VEQvsVAE
Vanguard FTSE Asia Ex-Japan Shares Index ETF
Fee0.35%0.40%
1 year+7.7%+22.7%
5 yrs p.a.+8.5%+9.1%
Size$632m$815m
Same holdings0%No companies in common
Full comparison →
VEQvsIZZ
iShares FTSE China Large-Cap ETF
Fee0.35%0.60%
1 year+7.7%−19.5%
5 yrs p.a.+8.5%+0.1%
Size$632m$452m
Same holdings0%No companies in common
Full comparison →

VEQ price by TradingView

Stock CodeVEQ
Fund ManagerVanguard
Asset ClassInternational shares
AUM$632m
MER (%)0.35%
Net flows (Sep)+$3.6m
Last Price$89.97
52-Week Range$80.01 – $93.15
Bid/Ask Spread0.07%
Listing Date11/12/2015
ExchangeASX
Index trackedFTSE Developed Europe All Cap Index
Issuer websiteVanguard ↗

Performance (% return)

-1%16%33%50%1M-1.3%1Y7.7%3Y49.7%5Y50.2%
1 month−1.3%
1 year+7.7%
3 years p.a.+14.4%
5 years p.a.+8.5%

$10,000 invested…

1 year ago$10,7713 years ago$14,9665 years ago$15,022

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

VEQ at a glance: strengths and things to watch

👍 Strengths

  • Low cost. At 0.35% a year it is cheaper than 79% of international shares ETFs.
  • Cheap to trade. A bid/ask spread of 0.07%, so buying and selling costs little extra.
  • Long track record. Listed since 2015, through several market cycles.

⚠️ Things to watch

  • Nothing stands out against its category.

Worked out from VEQ's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

Joshua StegaetfadviserTrend check
Base since 3 Sep 2026

VEQ is in a base. Here's why that matters.

VEQ's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet. Its price is 2.3% below its 12-month high.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 daysHow base and trend works →See every ETF's stage →Visit etfadviser.com.au →
Oct 25Jan 26Apr 26Jul 26Oct 26
UptrendBaseDowntrend

VEQ weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

VEQ vs its benchmark

How VEQ has done against the FTSE Developed Europe All Cap Index (AUD), after fees. For an index fund, a small shortfall roughly the size of the fee is normal.

VEQBenchmarkDifference
1 year+6.00%+7.54%-1.54%
3 years p.a.+14.28%+15.16%-0.88%
5 years p.a.+9.25%+10.09%-0.84%

Issuer figures to 30 September 2026, fund returns after fees. Source: Vanguard. Compare more ETFs vs their benchmark →

Investment Focus

Exposure Regions

Europe & UK

Portfolio Breakdown

Top 10 holdings (18.9% of the fund)

SymbolCompany% assets
ASML4.44%
HSBA2.17%
ROP1.88%
NOVN1.71%
SHEL1.62%
AZN1.55%
NESN1.50%
SIE1.44%
SAP1.31%
SAN1.28%

Sector breakdown

  • Financials26.9%
  • Industrials15.4%
  • Health Care12.4%
  • Information Technology9.1%
  • Consumer Staples7.5%
  • Utilities7.4%
  • Consumer Discretionary6.4%
  • Energy6.0%
  • Other8.9%

Country breakdown

  • United Kingdom23.1%
  • France14.1%
  • Switzerland14.1%
  • Germany13.2%
  • Netherlands9.0%
  • ES6.3%
  • IT5.5%
  • SE5.2%
  • Other9.6%

Holdings from the issuer's published portfolio as at 30 September 2026. Breakdowns are based on the largest 400 positions, covering 89% of the fund. Compare VEQ's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

CodeNameSame holdingsMERAUM1Y3Y p.a.5Y p.a.
IEUiShares Europe ETF
86%
0.58%$1.3bn+8.3%+14.2%+9.3%
IVEiShares MSCI EAFE ETF
60%
0.32%$624m+10.1%+14.8%+8.8%
EXUSBetashares Global Shares Ex Us ETF
57%
0.14%$158m–––
ESTXGlobal X EURO STOXX 50 ETF
35%
0.35%$490m+7.6%+16.7%+10.6%
HEURBetashares Europe Currency Hedged ETF Currency hedged
34%
0.56%$88m+17.2%+16.5%+8.8%
GOATVanEck Dynamic International Equity ETF
23%
0.55%$76m+3.9%+9.5%+6.0%

Same holdings is the share of VEQ's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like VEQ →

VEQ vs its closest alternatives

What actually differs between VEQ and the ETFs most like it. Data to 30 Sep 2026.

IEU iShares Europe ETF

  • They share 86% of their holdings: largely the same companies.
  • VEQ is cheaper (0.35% vs 0.58%), worth about $15,316 on $100,000 over 20 years.
  • Over 3 years, a year: VEQ +14.4%, IEU +14.2% (almost identical).
  • IEU is about 2 times larger ($1.3bn vs $632m), which usually means tighter trading spreads.

Full VEQ vs IEU comparison →

IVE iShares MSCI EAFE ETF

  • They share 60% of their holdings: a lot of doubling up.
  • IVE is cheaper (0.32% vs 0.35%), worth about $2,044 on $100,000 over 20 years.
  • Over 3 years, a year: VEQ +14.4%, IVE +14.8% (almost identical).

Compare VEQ and IVE side by side →

EXUS Betashares Global Shares Ex Us ETF

  • They share 57% of their holdings: a lot of doubling up.
  • EXUS is cheaper (0.14% vs 0.35%), worth about $14,543 on $100,000 over 20 years.
  • VEQ is about 4 times larger ($632m vs $158m), which usually means tighter trading spreads.

Compare VEQ and EXUS side by side →

General information only. Past performance is not a reliable indicator of future performance.

Popular comparisons

IEU vs VEQVGE vs VEQVAE vs VEQ

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VEQ FAQs

What is the fee for VEQ?

VEQ charges a management fee (MER) of 0.35% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is VEQ?

VEQ had $632m in funds under management as at 30 September 2026.

How has VEQ performed?

VEQ returned +7.7% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +14.4% a year. Past performance is not a reliable indicator of future performance.

Who manages VEQ?

VEQ is managed by Vanguard and has been listed since December 2015.

Is VEQ franked?

Generally no. VEQ invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

What does VEQ hold?

VEQ's largest holdings are ASML Holding NV (4.4%), HSBC Holdings PLC (2.2%), Roche Holding AG (1.9%), Novartis AG (1.7%), Shell PLC (1.6%). The biggest sector is financials at 24%. Holdings as at 30 September 2026.

Is VEQ currency hedged?

No, VEQ is unhedged. Its returns move with the Australian dollar: a falling dollar adds to returns and a rising dollar reduces them.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Vanguard product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.