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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX) has returned -1.08% so far this year and 26.81% over the past 12 months. Over the last ten years, VFSNX has returned 7.33% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares
- 1D
- -0.56%
- 1M
- -11.47%
- YTD
- -1.08%
- 6M
- 1.46%
- 1Y
- 26.81%
- 3Y*
- 12.77%
- 5Y*
- 5.20%
- 10Y*
- 7.33%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Mar 20, 2009, VFSNX's average daily return is +0.04%, while the average monthly return is +0.84%. At this rate, your investment would double in approximately 6.9 years.
Historically, 58% of months were positive and 42% were negative. The best month was May 2009 with a return of +17.2%, while the worst month was Mar 2020 at -20.5%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VFSNX closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +7.9%, while the worst single day was Mar 12, 2020 at -10.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.29% | 5.13% | -11.47% | -1.08% | |||||||||
| 2025 | 0.90% | 0.40% | 0.09% | 4.06% | 6.39% | 5.48% | -0.39% | 4.57% | 2.75% | -0.27% | 0.76% | 2.06% | 29.97% |
| 2024 | -3.03% | 1.78% | 2.81% | -1.66% | 4.29% | -1.48% | 3.35% | 1.69% | 2.86% | -4.70% | 0.20% | -3.02% | 2.63% |
| 2023 | 8.32% | -2.94% | 0.81% | 1.21% | -3.17% | 3.95% | 4.67% | -3.59% | -4.25% | -4.83% | 9.30% | 6.14% | 15.18% |
| 2022 | -5.86% | -1.73% | 0.19% | -7.20% | 0.45% | -10.57% | 5.71% | -4.05% | -11.20% | 3.51% | 11.29% | -1.79% | -21.26% |
| 2021 | -0.75% | 3.49% | 1.95% | 4.66% | 2.27% | -0.09% | 0.75% | 1.85% | -3.88% | 2.93% | -4.64% | 3.98% | 12.74% |
Benchmark Metrics
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares has an annualized alpha of -0.78%, beta of 0.77, and R² of 0.68 versus S&P 500 Index. Calculated based on daily prices since March 23, 2009.
- This fund participated in 104.18% of S&P 500 Index downside but only 86.32% of its upside — more exposed to losses than it benefited from rallies.
- Alpha
- -0.78%
- Beta
- 0.77
- R²
- 0.68
- Upside Capture
- 86.32%
- Downside Capture
- 104.18%
Expense Ratio
VFSNX has an expense ratio of 0.11%, which is considered low.
Return for Risk
Risk / Return Rank
VFSNX ranks 85 for risk / return — in the top 85% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX) and compare them to a chosen benchmark (S&P 500 Index).
| VFSNX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.78 | 0.90 | +0.89 |
Sortino ratioReturn per unit of downside risk | 2.29 | 1.39 | +0.91 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.21 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 2.09 | 1.40 | +0.69 |
Martin ratioReturn relative to average drawdown | 8.39 | 6.61 | +1.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore VFSNX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares provided a 3.40% dividend yield over the last twelve months, with an annual payout of $9.21 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $9.21 | $9.21 | $7.44 | $6.83 | $4.45 | $6.92 | $4.42 | $6.90 | $5.08 | $6.48 | $5.26 | $4.76 |
Dividend yield | 3.40% | 3.36% | 3.41% | 3.11% | 2.26% | 2.70% | 1.90% | 3.25% | 2.81% | 2.85% | 2.93% | 2.69% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.38 | $0.00 | $0.00 | $1.44 | $0.00 | $0.00 | $6.39 | $9.21 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.56 | $0.00 | $0.00 | $1.05 | $0.00 | $0.00 | $4.84 | $7.44 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.87 | $0.00 | $0.00 | $1.05 | $0.00 | $0.00 | $3.91 | $6.83 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.69 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $3.47 | $4.45 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.06 | $0.00 | $0.00 | $1.11 | $0.00 | $0.00 | $4.74 | $6.92 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares was 43.65%, occurring on Mar 23, 2020. Recovery took 179 trading sessions.
The current Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares drawdown is 11.47%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -43.65% | Jan 29, 2018 | 541 | Mar 23, 2020 | 179 | Dec 4, 2020 | 720 |
| -33.75% | Sep 7, 2021 | 278 | Oct 12, 2022 | 656 | May 27, 2025 | 934 |
| -28.01% | May 2, 2011 | 108 | Oct 3, 2011 | 492 | Sep 18, 2013 | 600 |
| -23.53% | Jul 7, 2014 | 405 | Feb 11, 2016 | 302 | Apr 25, 2017 | 707 |
| -17.47% | Apr 16, 2010 | 29 | May 26, 2010 | 80 | Sep 20, 2010 | 109 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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