Vanguard FTSE All-World ex-US Index Fund Admiral Shares
Figures last verified October 31, 2026
Tracks the FTSE All-World ex US Index — large and mid-cap stocks in developed and emerging markets outside the US.
Vanguard sells two nearly identical total-international funds, and the difference fits in a sentence: VTIAX includes international small caps, VFWAX doesn't. Both span developed and emerging markets; both charge single-digit basis points; both will produce returns within shouting distance of each other over any horizon that matters.
VFWAX exists largely for investors who want to add a separate international small-cap fund and avoid overlap, or who simply prefer the slightly cheaper fee. If you don't have a strong view, VTIAX's broader coverage makes it the marginally better default — but agonizing over this pair is a sign you've run out of real decisions to make, which is its own kind of success.
All-world ex-US exposure, large and mid caps only.
VFWAX alternatives & comparable funds
If you’re weighing VFWAX against the field, these are the funds most investors line it up against — same job, different provider, slightly different terms.
| Fund | Family | Expense Ratio | Minimum |
|---|---|---|---|
| VFWAX — Vanguard FTSE All-World ex… | Vanguard | 0.08% | $3,000 |
| VTIAX — Vanguard Total Internation… | Vanguard | 0.09% | $3,000 |
| FTIHX — Fidelity Total International Index Fund | Fidelity | 0.06% | $0 |
| VTMGX — Vanguard Developed Markets… | Vanguard | 0.08% | $3,000 |
Frequently asked questions
What is the expense ratio of VFWAX?
VFWAX (Vanguard FTSE All-World ex-US Index Fund Admiral Shares) has an expense ratio of 0.08%, which works out to roughly $8 per year for every $10,000 invested. That is very low by industry standards, where the average fund still charges well over 0.40%.
What is the minimum investment for VFWAX?
VFWAX requires a minimum initial investment of $3,000.
What does VFWAX invest in?
Tracks the FTSE All-World ex US Index — large and mid-cap stocks in developed and emerging markets outside the US. It falls in the international category and is an index fund.
What are good alternatives to VFWAX?
The funds most often compared with VFWAX are VTIAX, FTIHX, VTMGX — broadly similar exposure from different providers, with small differences in fee, minimum, and portability that usually come down to which brokerage holds your account.
Expense ratio and minimum for VFWAX drawn from Vanguard fund documentation; last verified October 31, 2026. Figures change — confirm against the official prospectus before investing. This review is editorial opinion, not investment advice.