Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
VEU vs VWO: how they differ
VEU and VWO hold 24% of their weight in the same names, and VEU returned more over the year.
Vanguard FTSE All-World ex-US Index Fund and Vanguard Emerging Markets Stock Index Fund.
What they hold in common
By the books each fund has filed, VEU and VWO hold 24% of their money in the same securities at the same weight.
| Holding | VEU | VWO |
|---|---|---|
| Tencent Holdings Ltd | 0.97% | 3.28% |
| Alibaba Group Holding Ltd | 0.76% | 2.57% |
| Delta Electronics Inc | 0.35% | 1.18% |
| MediaTek Inc | 0.32% | 1.07% |
| Reliance Industries Ltd | 0.27% | 0.90% |
| HDFC Bank Ltd | 0.24% | 0.81% |
| Hon Hai Precision Industry Co Ltd | 0.22% | 0.75% |
| PDD Holdings Inc | 0.20% | 0.66% |
| ICICI Bank Ltd | 0.18% | 0.62% |
| Bharti Airtel Ltd | 0.15% | 0.52% |
| Vale SA | 0.15% | 0.51% |
| Meituan | 0.15% | 0.50% |
| Only in VEU | Only in VWO |
|---|---|
| Samsung Electronics Co Ltd 1.83% | Macronix International Co Ltd 0.08% |
| ASML Holding NV 1.45% | WinWay Technology Co Ltd 0.07% |
| SK hynix Inc 1.24% | Taiwan Union Technology Corp 0.07% |
| HSBC Holdings PLC 0.81% | Compeq Manufacturing Co Ltd 0.07% |
| AstraZeneca PLC 0.73% | LandMark Optoelectronics Corp 0.06% |
| Novartis AG 0.73% | Kinsus Interconnect Technology Corp 0.05% |
| Nestle SA 0.67% | ADATA Technology Co Ltd 0.04% |
| Shell PLC 0.67% | XtalPi Holdings Ltd 0.03% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026.
| VEU Vanguard FTSE All-World ex-US Index Fund | VWO Vanguard Emerging Markets Stock Index Fund | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Vanguard | Vanguard |
| What it is | FTSE All-World ex-US | Emerging markets |
| Total return, 1 year | +22.9% | +15.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +5.4 pts | −1.9 pts |
| Expense ratio | 0.04% | 0.06% |
| Already in the S&P 500 | 0.0% | 0.0% |
| Holdings | 3860 | 6355 |
VEU in plain words
VEU is an index equity fund tracking the FTSE All-World ex-US. Over the year to Sep 11, 2026 it returned +22.9% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.04% a year. By its holdings filed for Apr 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 3860 positions, with the top ten at 13.6%.
VWO in plain words
VWO is an index equity fund tracking the Emerging markets. Over the year to Sep 11, 2026 it returned +15.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.06% a year. By its holdings filed for Apr 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 6355 positions, with the top ten at 26.8%.
Questions people ask
- Which returned more over the last year, VEU or VWO?
- In the year to Sep 12, 2026, with distributions reinvested, VEU returned +22.9% and VWO returned +15.6%, so VEU returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, VEU or VWO?
- VEU charges 0.04% a year and VWO charges 0.06%, so VEU is cheaper. Fees come from each fund's prospectus.
- How much do VEU and VWO overlap with the S&P 500?
- By their latest filed holdings, 0% of VEU and 0% of VWO by weight is stocks the S&P 500 already holds. Between the two funds, 24% of their books are the same securities at the same weight.
Other comparisons
Where to next
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, VEU against VWO, data as of Sep 12, 2026. https://etfiq.com/compare/any/VEU-VWO Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources