- ISIN
- US9220427267
- CUSIP
- 922042726
- Issuer
- Vanguard
- Inception Date
- Apr 2, 2009
- Category
- Foreign Small & Mid Cap Equities
- Min. Investment
- $5,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
VFSNX Performance Chart
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX) is up 10.4% since the beginning of the year. VFSNX is currently trading at $301 per share. Investors who bought $1,000 worth of VFSNX shares 5 years ago would now be looking at an investment worth $1,364.
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Returns By Period
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX) has returned 10.43% so far this year and 26.42% over the past 12 months. Over the last ten years, VFSNX has returned 8.19% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares
- 1D
- 0.42%
- 1M
- -0.55%
- YTD
- 10.43%
- 6M
- 10.96%
- 1Y
- 26.42%
- 3Y*
- 15.62%
- 5Y*
- 6.40%
- 10Y*
- 8.19%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VFSNX Monthly Returns History
Based on dividend-adjusted daily data since Mar 20, 2009, VFSNX's average daily return is +0.04%, while the average monthly return is +0.88%. At this rate, an investment would double in approximately 6.6 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% | -9.35% | 8.81% | 1.84% | -1.62% | 10.43% | ||||||
| 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 -0.82%, beta of 0.77, and R2 of 0.68 versus S&P 500 Index. Calculated based on daily prices since March 20, 2009.
- This fund participated in 104.59% of S&P 500 Index downside but only 86.00% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -0.82%
- Beta
- 0.77
- R²
- 0.68
- Upside Capture
- 86.00%
- Downside Capture
- 104.59%
Expense Ratio
VFSNX has an expense ratio of 0.11%, which is considered low.
Return for Risk
Risk / Return Rank
VFSNX ranks 42 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
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 S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VFSNX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 2.78 | -0.56 |
| Martin ratioReturn relative to average drawdown | 8.30 | 12.44 | -4.14 |
Dividends
Dividend History
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares provided a 3.14% dividend yield over the last twelve months, with an annual payout of $9.45 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 | $9.45 | $9.21 | $7.44 | $6.83 | $4.45 | $6.92 | $4.42 | $6.90 | $5.08 | $6.48 | $5.26 | $4.76 |
Dividend yield | 3.14% | 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 | $0.00 | $1.63 | $1.63 | ||||||
| 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 2.27%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -43.65%Mar 2020 | 2y 1mo | 8mo 16d | 2y 10moJan 2018 - Dec 2020 |
Bear market2022 | -33.75%Oct 2022 | 1y 1mo | 2y 7mo | 3y 8moSep 2021 - May 2025 |
2011 bear market2011 | -28.01%Oct 2011 | 5mo 4d | 1y 11mo | 2y 4moMay 2011 - Sep 2013 |
2016 bear market2016 | -23.53%Feb 2016 | 1y 7mo | 1y 2mo | 2y 9moJul 2014 - Apr 2017 |
2010 correction2010 | -17.47%May 2010 | 1mo 10d | 3mo 27d | 5mo 7dApr 2010 - Sep 2010 |
Drawdown Indicators
| VFSNX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.65% | -56.78% | +13.13% |
Max Drawdown (1Y)Largest decline over 1 year | -11.47% | -9.10% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -14.70% | -18.90% | +4.20% |
Max Drawdown (5Y)Largest decline over 5 years | -33.75% | -25.43% | -8.32% |
Max Drawdown (10Y)Largest decline over 10 years | -43.65% | -33.92% | -9.73% |
Current DrawdownCurrent decline from peak | -2.27% | -1.80% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -10.71% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 2.03% | +1.04% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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