VEU vs ACWX: Holdings Overlap
VEUVanguard FTSE All-world Ex-us Index Fund
Vanguard · 3855 holdings · $69.8B · as of 2026-04-30
ACWXiShares MSCI ACWI ex U.S. ETF
iShares · 1761 holdings · $11.7B · as of 2026-04-30
How similar are VEU and ACWX?
Vanguard FTSE All-world Ex-us Index Fund (VEU, by Vanguard) holds 3855 positions; iShares MSCI ACWI ex U.S. ETF (ACWX, by iShares) holds 1761. They have 1657 holdings in common, and by portfolio weight the two funds are 88.7% identical. In practical terms the pair is essentially interchangeable, so holding both adds little diversification.
- Overlap by Weight
- 88.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1657VEU holds 3855 · ACWX holds 1761
- Weight in Shared Holdings
- VEU 89%·ACWX 98%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in VEU
2198 of 3855 positions (9.4% of the fund) are not held by ACWX. Showing the top 30 by weight.
Only in ACWX
104 of 1761 positions (1.7% of the fund) are not held by VEU. Showing the top 30 by weight.
Sector Breakdown
| Sector | VEU | ACWX |
|---|---|---|
| Financials | 20.0% | 21.6% |
| Information Technology | 16.2% | 17.5% |
| Industrials | 11.7% | 12.5% |
| Consumer Discretionary | 6.1% | 6.5% |
| Health Care | 5.6% | 6.1% |
| Other Sectors | 21.9% | 23.9% |
| Unclassified | 17.4% | 11.4% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (18% of VEU, 11% of ACWX).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VEU | +2.8% | +16.6% | +28.4% | +19.2% | +9.6% | +9.9% | 2.48% |
| ACWX | +3.0% | +16.6% | +28.7% | +19.1% | +9.3% | +9.6% | 2.46% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in VEU vs ACWX →
Shared Holdings(1657)
The top 10 shared positions account for 15% of the overlap, led by TSMWF, 005930 and ASML.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 4.28% | 4.67% | 4.28% |
|---|---|---|---|
 005930Samsung Electronics Co Ltd | 1.81% | 1.95% | 1.81% |
 ASMLASML Holding NV | 1.43% | 1.54% | 1.43% |
 000660SK hynix Inc | 1.23% | 1.33% | 1.23% |
 700Tencent Holdings Ltd. | 0.96% | 1.07% | 0.96% |
 HSBAHSBC Holdings PLC | 0.80% | 0.86% | 0.80% |
 9988Alibaba Group Holding Ltd | 0.75% | 0.79% | 0.75% |
 ROPRoche Holding AG | 0.73% | 0.78% | 0.73% |
 AZNAstraZeneca PLC ORD USD0.25 | 0.72% | 0.80% | 0.72% |
 NOVNNovartis AG (Registered) | 0.72% | 0.76% | 0.72% |
 NESNNestle SA (Registered) | 0.66% | 0.71% | 0.66% |
 SHELShell PLC | 0.66% | 0.71% | 0.66% |
 RYGovernment Long Bond 1.2x Strategy Fund | 0.64% | 0.69% | 0.64% |
 SIESiemens AG (Registered) | 0.56% | 0.62% | 0.56% |
 CBACommonwealth Bank of Australia | 0.54% | 0.57% | 0.54% |
 7203Toyota Motor Corp. NPV | 0.52% | 0.51% | 0.51% |
 8306Mitsubishi UFJ Financial Group Inc. NPV | 0.50% | 0.57% | 0.50% |
 BHPBHP Group Ltd. | 0.49% | 0.55% | 0.49% |
 TDThe Toronto-Dominion Bank COM NEW | 0.46% | 0.50% | 0.46% |
 SANBanco Santander SA | 0.45% | 0.49% | 0.45% |
 ALVAllianz SE (Registered) | 0.44% | 0.47% | 0.44% |
 SAPSAP SE | 0.44% | 0.48% | 0.44% |
 SUSchneider Electric SE | 0.44% | 0.47% | 0.44% |
 TTETotalEnergies SE EUR2.5 | 0.43% | 0.50% | 0.43% |
 ENRSiemens Energy AG | 0.40% | 0.45% | 0.40% |
Showing the top 250 of 1657 shared holdings by overlap weight.
Frequently Asked Questions
How much do VEU and ACWX overlap?
VEU and ACWX overlap by 88.7% of portfolio weight. They share 1657 holdings (VEU holds 3855 positions and ACWX holds 1761), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VEU and ACWX?
The two portfolios are 88.7% identical by weight. Owning both is largely redundant: they are close to the same portfolio, so a second position mostly duplicates the first.
What are the biggest shared holdings of VEU and ACWX?
The largest positions held by both funds are TSMWF, 005930, ASML, 000660 and 700. Together the top 10 shared positions account for 15% of the total overlap.
What does VEU own that ACWX doesn't?
2198 positions (9.4% of VEU) are unique to VEU, led by AIR LIQUIDE-PRIM, L'OREAL SA and WCN. In the other direction, 104 positions (1.7% of ACWX) are unique to ACWX.