At a glance
VEA charges 0.03% a year, below the 0.09% average of the 8 funds most like it (the cheapest of 9). It has $316.42B in assets, the 2nd largest of that group; it paid 2.46% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +16.8% with distributions reinvested (S&P 500: +11.5%), 3rd of those 9 funds; over three years it returned +21.7% a year. At its worst it fell 28.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 17 months after the low. Its ten largest positions make up 13.1% of the fund, out of 3,870 in all.
The short version
Vanguard FTSE Developed Markets ETF (VEA) is an index fund tracking the FTSE Developed All Cap ex US Index, which spans large, mid-size and small companies in Canada, Europe and the Pacific region. As of June 30, 2026, it held about 3,870 stocks outside the US. Its annual fee of 0.03% ties for the lowest among the similar funds we compared, which average 0.09%. Currency moves add another layer of risk.
Price history
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VEA +16.8% over the year to Oct 30, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| VEA official prospectus, to Dec 31, 2025 | — | +35.15% | — | +9.14% | +8.74% | — |
| VEA price data to Oct 30, 2026 | +12.2% | +16.8% | +21.7% | +9.2% | — | +12.7% |
- Over the year to Oct 30, 2026, VEA returned +16.8%, 3rd of 9 among similar funds.
- Its 5-year annualized return was +9.2%.
- Its worst full calendar year was 2022 (-15.4%); its best was 2025 (+35.2%).
- The deepest fall in its price history was 29.7% (Sep 3, 2021 to Sep 27, 2022), recovered by Mar 6, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +12.2% | — |
| 2025 | +35.2% | +35.15% |
| 2024 | +3.1% | +3.07% |
| 2023 | +17.9% | +17.77% |
| 2022 | -15.4% | -15.35% |
| 2021 | +11.7% | +11.49% |
| 2020 | — | +10.29% |
| 2019 | — | +22.08% |
| 2018 | — | -14.47% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Not in the price data, which starts Jun 2, 2020 |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 28.3% over that stretch · deepest drop along the way 28.8%, back to its old high 16.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.6700 | |
| 2025 | $2.0100 | +25.6% |
| 2024 | $1.6000 | +6.0% |
| 2023 | $1.5100 | +23.8% |
| 2022 | $1.2200 | -24.2% |
| 2021 | $1.6100 |
What's inside
As of Jun 30, 2026, the fund held 3,870 securities; the ten largest made up 13.11% of assets.
| Holding | Weight | |
|---|---|---|
| ASML Holding NV | 2.36% | |
| SK hynix Inc | 1.63% | |
| Samsung Electronics Co Ltd | 1.61% | |
| Samsung Electronics Co Ltd | 1.55% | |
| SK hynix Inc | 1.39% | |
| HSBC Holdings PLC | 1.00% | |
| Novartis AG | 0.90% | |
| Royal Bank of Canada | 0.90% | |
| Roche Holding AG | 0.89% | |
| AstraZeneca PLC | 0.87% | |
| Nestle SA | 0.82% | |
| Siemens AG | 0.73% | |
| Shell PLC | 0.67% | |
| Mitsubishi UFJ Financial Group Inc | 0.67% | |
| Tokyo Electron Ltd | 0.66% |
By country
Japan 20.88%United Kingdom 10.88%Canada 10.51%South Korea 7.13%Switzerland 6.92%By asset type
Stocks 99.01%Preferred stock 0.52%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $1.45B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.75%, +4.39%, -0.23%.
How it works
VEA is the exchange-traded share class of Vanguard Developed Markets Index Fund. It tracks the FTSE Developed All Cap ex US Index, which covers large, mid-size and small companies in Canada and the major markets of Europe and the Pacific region. The index is weighted by market capitalization, the total value of a company's shares, so bigger companies count for more. As of June 30, 2026, top holdings included the Netherlands' ASML Holding, South Korea's SK hynix and Samsung Electronics, the UK's HSBC and Switzerland's Novartis. The top 10 positions made up 13.11% of assets.
Vanguard aims to replicate the index. That means holding all or nearly all of its stocks, about 3,870 as of June 30, 2026, in roughly the same proportions. Under normal conditions, at least 80% of net assets must be in index stocks. Trading is light: portfolio turnover, a gauge of how much of the fund changes hands in a year, was 4%. Cash was 1.49% of assets, and some futures and currency contracts made up a negligible share.
Two practical points. Because the stocks are priced in yen, pounds, euros and other currencies, exchange-rate swings against the dollar can add to returns or cut them. And ETF shares trade on NYSE Arca at market prices, which can differ slightly from the value of the holdings.
What it really costs
- VEA charges 0.03% a year, versus an average of 0.09% for the similar funds below (1st of 9, cheapest first).
- Of that, 0.02% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $3 in the first year and $39 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| VEA | $3 | $10 | $17 | $39 |
In a retirement portfolio
It offers broad, low-cost exposure to about 3,870 stocks in developed markets outside the US, the kind of fund that can serve as the international piece of a core stock allocation.
VEA could serve as the international stock part of a long-term portfolio, spreading money across about 3,870 companies outside the US for 0.03% a year. It pays dividends quarterly, and its yield over the past 12 months was 2.45% as of October 27, 2026.
Figures for 2008 aren't available, but the prospectus shows a 24.01% loss in the first quarter of 2020. In the 2022 market slide, the fund fell 28.8% from January to September and did not regain its peak until February 2024, 16.9 months after the low. Its worst calendar year was 2022, a 15.35% loss. Its deepest drop, 29.7% from September 2021 to September 2022, took 17.3 months to recover. Anyone cashing in shares for income then would have done so at low prices. Past results don't predict future ones, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want one low-cost fund for stocks in Japan, Canada, South Korea, the UK and the rest of Europe, at a 0.03% expense ratio.
- Those wanting breadth: about 3,870 large, mid-size and small stocks as of June 30, 2026, with the top 10 positions at 13.11%.
- Long-term holders who like modest quarterly income and little trading inside the fund: a 2.45% trailing yield as of October 27, 2026, and 4% turnover.
Look elsewhere if
- Investors wanting emerging-market stocks in the same fund; this index covers only developed markets in Canada, Europe and the Pacific region.
- Anyone hoping to avoid currency swings: returns rise and fall with foreign currencies against the dollar, a principal risk in the prospectus.
- Investors who may need to cash out in a slump: it fell 29.7% from September 2021 to September 2022, recovering only in March 2024.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| VEA this fund | — | 0.03% | $316.42B | +16.8% | +21.7% |
| SCHF Schwab International Equity ETF | 76% | 0.06% | $69.68B | +17.7% | +20.4% |
| SPDW SPDR Portfolio Developed World ex-US ETF | 73% | 0.03% | $40.29B | +17.3% | +20.5% |
| IDEV iShares Core MSCI International Developed M… | 70% | 0.04% | $31.64B | +14.6% | +19.2% |
| EFA iShares MSCI EAFE ETF | 62% | 0.32% | $77.98B | +13.5% | +18.2% |
| IEFA iShares Core MSCI EAFE ETF | 62% | 0.07% | $190.11B | +13.7% | +18.5% |
| VEU Vanguard FTSE All-World ex-US Index Fund | 60% | 0.04% | $95.84B | +13.4% | +20.6% |
| IXUS iShares Core MSCI Total International Stock… | 56% | 0.07% | $58.39B | +13.8% | +19.5% |
Compared head to head: VEA vs VXUS · all comparisons →
Questions investors ask
What countries are in VEA?
VEA invests in Canada and the major markets of Europe and the Pacific region. As its index name says, it excludes the US. As of June 30, 2026, Japan was the largest country at 20.88% of assets, followed by the United Kingdom at 10.88%, Canada at 10.51%, South Korea at 7.13%, Switzerland at 6.92% and France at 6.86%. Because the fund weights companies by size, these shares shift as markets move.
What's the difference between VEA and SCHF?
Mostly cost and size, since their holdings overlap by about 76% based on each fund's latest holdings report. VEA charges 0.03% a year versus 0.06% for Schwab International Equity ETF (SCHF). VEA had $316.4 billion in net assets across all share classes as of June 30, 2026, while SCHF had $69.7 billion as of August 31, 2026. Returns have been close: as of October 27, 2026, SCHF returned 16.8% over one year versus 16.3% for VEA, and both averaged 22.5% a year over three years.
Does VEA pay monthly dividends?
No. VEA pays dividends quarterly. Over the 12 months through October 27, 2026, it paid $1.71 per share, a trailing yield of 2.45%. That yield is the past year's payouts divided by the share price. The money comes from dividends paid by the companies the fund owns, so the amount can vary from quarter to quarter. Exchange-rate moves can also raise or lower the dollar value of those payouts.
What is VEA's expense ratio?
VEA's expense ratio, the yearly fee taken from fund assets, is 0.03%, according to its April 2026 prospectus. That ties SPDR Portfolio Developed World ex-US ETF (SPDW) for the lowest among the similar funds we compared, which average 0.09%. The SEC's standard example assumes $10,000 invested, a 5% annual return and shares cashed in at the end of each period. On that basis, costs total about $3 after one year, $17 after five years and $39 after 10 years.
What is VEA's 10-year average return?
VEA averaged 8.74% a year over the 10 years through December 31, 2025, according to its prospectus. The five-year figure was 9.14% a year, and 2025 alone returned 35.15%. The ride was uneven: the fund lost 14.47% in 2018 and 15.35% in 2022, and it fell 24.01% in the first quarter of 2020. Past returns don't predict future ones.