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VYMI Vanguard International High Dividend Yield ETF

Also available as an Admiral™ Shares mutual fund.

Management style

Index

Asset class

International/Global Stock

Category

Foreign Large Value

Risk / reward scale

Start of Risk Scale. On a scale of 1 to 5, 1 is less risk less reward, 5 is more risk more reward
The fund risk level is a 5

Less

More

End of Risk Scale.

Expense ratio

0.17%

as of 02/28/2025

Market price (MP)

$78.91

as of 05/23/2025

NAV price

$78.72

as of 05/23/2025

Overview

Key facts

IOV ticker symbol

VYMI.IV

CUSIP

921946794

Management style

Index

Asset class

International/Global Stock

Category

Foreign Large Value

Inception date

02/25/2016

Fund Number

4430

Ratings

Risk / reward scale

Start of Risk Scale. On a scale of 1 to 5, 1 is less risk less reward, 5 is more risk more reward
The fund risk level is a 5

Less

More

End of Risk Scale.
Price

Minimum Investment

$1.00

as of 05/23/2025

Market price

$78.91

as of 05/23/2025

Market price change

increased$0.25 (0.32%)

as of 05/23/2025

Expense Ratio

0.17%

as of 02/28/2025

NAV Price

$78.72

as of 05/23/2025

NAV Change

increased$0.27 (0.34%)

as of 05/23/2025

Performance

YTD returns (MP)

17.18%

as of 05/23/2025

YTD returns (NAV)

17.20%

as of 05/23/2025

Product summary
  • Seeks to track the performance of the FTSE All-World ex US High Dividend Yield Index.
  • Provides a convenient way to get exposure to international stocks that are forecasted to have above-average dividend yields.
  • Employs a passively managed, sampling strategy.
Fund management

Vanguard Equity Index Group

Performance & fees

Total returns
Month-end/Quarterly Pre-Tax Toggle

as of 04/30/2025

Recent returns

Average annual

Month-end3-Month totalYTD1-yr3-yr5-yr10-yr

Since inception

02/25/2016

VYMI (Market price)2.74%8.67%12.43%16.99%11.12%14.51%8.97%
VYMI (NAV)
3.02%8.77%12.72%17.11%11.16%14.44%8.98%

Benchmark

3.52%8.21%12.51%16.62%11.05%14.57%5.84%9.34%
Market Price/Nav Toggle

as of 03/31/2025

Year1st Qtr2nd Qtr3rd Qtr4th QtrYear-end

Benchmark

20259.43%
20244.44%1.05%8.17%-6.22%7.06% 7.26%
20234.54%3.88%-0.98%8.84%17.03% 17.34%
20221.15%-11.37%-10.35%15.82%-6.92% -6.73%
20218.15%5.06%-1.59%3.01%15.18% 15.41%
2020-28.58%14.14%2.73%18.14%-1.06% -0.65%
20199.01%2.52%-2.05%8.42%18.68% 18.63%
2018-0.66%-4.67%1.85%-9.61%-12.81% -12.43%
20177.76%4.53%5.76%2.87%22.55% 22.55%
2016-0.27%6.23%1.02%16.06%

as of 12/31/2024

Year

Capital return by NAV

Income return by NAV

Total return by NAV

Total return by Market Price

Benchmark

20241.99% 4.98%6.97% 7.06%7.26%
202311.41% 5.47%16.88% 17.03%17.34%
2022-11.18% 4.28%-6.90% -6.92%-6.73%
202110.11% 4.89%15.00% 15.18%15.41%
2020-4.32% 3.67%-0.65% -1.06%-0.65%
201913.19% 5.12%18.31% 18.68%18.63%
2018-15.75% 3.36%-12.39% -12.81%-12.43%
201718.32% 4.05%22.37% 22.55%22.55%
201612.88% 2.87%15.75%

as of 04/30/2025

1-yr3-yr5-yr10-yr

Since inception

02/25/2016

VYMI (Market price)16.99%37.20%96.88%119.89%
VYMI (NAV)17.11% 37.34%96.30% 120.08%

Benchmark

16.62%36.96%97.40%76.42%

Expense ratio

VYMI

0.17%

Average expense ratio of similar funds3

0.95%

Historical volatility measures
as of 04/30/2025
BenchmarkR-Squared4Beta4
FTSE All-World ex US High Dividend Yield Index20.981.03
FTSE Global All Cap ex US Index0.930.95

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate so that investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.

Price

Current market price

Current price as of Fri May 23 20:15:00GMT+0 2025

Market price change

increased$0.25 (0.32%)

Open

$78.08

High

$78.99

Low

$78.04

Bid/Ask spread

$0.99 (1.25%)

Volume

1,043,379

Size

3 X 1

Tick

UP

Quotes delayed at least 15 minutes. Source: FactSet.

Closing price

Closing price as of 05/23/2025

Market price change

increased$0.25 (0.32%)

NAV

$78.72

NAV change

increased$0.27 (0.34%)

30-day Median Bid/Ask spread

0.00%

52-week High

$78.72

as of 05/23/2025

52-week Low

$66.03

as of 04/08/2025

52-week Difference

$12.69 (19.22%)

Premium/Discount

$0.19

25-day Avg Volume

789,383.68

50-day Avg Volume

806,924.06

Historical prices
Chart/Table Toggle
NameDateNAV
VYMI 05/23/2025
$78.72

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Portfolio composition

Characteristics

as of 04/30/2025

FundamentalVYMI
Benchmark
Number of stocks 1560 1516
Median market cap $51.8 B $51.4 B
Earnings growth rate 12.8% 12.8%
Short-term reserves
P/E ratio 11.6x 11.6x
P/B ratio 1.4x 1.4x
Turnover rate (Fiscal Year-end 10/31/2024) 11.5%
Return on equity 11.8% 11.8%
Foreign holdings 99.1%
Fund total net assets as of 04/30/2025 $10.2 B
Share class total net assets $9.6 B
Weighted exposures

as of 04/30/2025

21.10%Emerging Markets
RegionsVYMIEmerging Markets 21.10%Europe 44.50%Pacific 26.20%Middle East 0.60%North America 7.60%

Weighted equity exposures exclude any temporary cash investments and equity index futures. Some short-term fixed income securities are classified as cash and are excluded from the weighted bond exposures.

Holding details

as of 04/30/2025

Ticker Holdings CUSIP SEDOL % of fundShares Market value
NESN Nestle SA H57312649 7123870 1.90 % 1,844,179 $196,289,589
ROG Roche Holding AG H69293217 7110388 1.57 % 497,024 $162,520,065
NOVN Novartis AG H5820Q150 7103065 1.56 % 1,416,000 $161,505,005
7203 Toyota Motor Corp. 6900643 1.53 % 8,298,261 $158,491,903
HSBA HSBC Holdings plc 0540528 1.38 % 12,804,939 $142,741,513
SHEL Shell plc BP6MXD8 1.36 % 4,361,365 $140,748,868
CBA Commonwealth Bank of Australia 6215035 1.24 % 1,200,450 $127,954,874
RY Royal Bank of Canada 780087102 2754383 1.17 % 1,010,489 $121,286,533
ALV Allianz SE 5231485 1.10 % 276,027 $114,158,337
ULVR Unilever plc B10RZP7 1.08 % 1,747,327 $111,252,102
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
H57312649
H69293217
H5820Q150
780087102
Ticker Description Shares
NESN
ROG
NOVN
7203
HSBA
SHEL
CBA
RY
ALV
ULVR
Ticker Holdings CUSIP SEDOL % of fundShares Market value
NESN Nestle SA H57312649 7123870 1.90 % 1,844,179 $196,289,589
ROG Roche Holding AG H69293217 7110388 1.57 % 497,024 $162,520,065
NOVN Novartis AG H5820Q150 7103065 1.56 % 1,416,000 $161,505,005
7203 Toyota Motor Corp. 6900643 1.53 % 8,298,261 $158,491,903
HSBA HSBC Holdings plc 0540528 1.38 % 12,804,939 $142,741,513
SHEL Shell plc BP6MXD8 1.36 % 4,361,365 $140,748,868
CBA Commonwealth Bank of Australia 6215035 1.24 % 1,200,450 $127,954,874
RY Royal Bank of Canada 780087102 2754383 1.17 % 1,010,489 $121,286,533
ALV Allianz SE 5231485 1.10 % 276,027 $114,158,337
ULVR Unilever plc B10RZP7 1.08 % 1,747,327 $111,252,102
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
H57312649
H69293217
H5820Q150
780087102
Ticker Description Shares
NESN
ROG
NOVN
7203
HSBA
SHEL
CBA
RY
ALV
ULVR
Ticker Holdings CUSIP SEDOL % of fundShares Market value
NESN Nestle SA H57312649 7123870 1.90 % 1,844,179 $196,289,589
ROG Roche Holding AG H69293217 7110388 1.57 % 497,024 $162,520,065
NOVN Novartis AG H5820Q150 7103065 1.56 % 1,416,000 $161,505,005
7203 Toyota Motor Corp. 6900643 1.53 % 8,298,261 $158,491,903
HSBA HSBC Holdings plc 0540528 1.38 % 12,804,939 $142,741,513
SHEL Shell plc BP6MXD8 1.36 % 4,361,365 $140,748,868
CBA Commonwealth Bank of Australia 6215035 1.24 % 1,200,450 $127,954,874
RY Royal Bank of Canada 780087102 2754383 1.17 % 1,010,489 $121,286,533
ALV Allianz SE 5231485 1.10 % 276,027 $114,158,337
ULVR Unilever plc B10RZP7 1.08 % 1,747,327 $111,252,102
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
H57312649
H69293217
H5820Q150
780087102
Ticker Description Shares
NESN
ROG
NOVN
7203
HSBA
SHEL
CBA
RY
ALV
ULVR
Ticker Holdings CUSIP SEDOL % of fundShares Market value
NESN Nestle SA H57312649 7123870 1.90 % 1,844,179 $196,289,589
ROG Roche Holding AG H69293217 7110388 1.57 % 497,024 $162,520,065
NOVN Novartis AG H5820Q150 7103065 1.56 % 1,416,000 $161,505,005
7203 Toyota Motor Corp. 6900643 1.53 % 8,298,261 $158,491,903
HSBA HSBC Holdings plc 0540528 1.38 % 12,804,939 $142,741,513
SHEL Shell plc BP6MXD8 1.36 % 4,361,365 $140,748,868
CBA Commonwealth Bank of Australia 6215035 1.24 % 1,200,450 $127,954,874
RY Royal Bank of Canada 780087102 2754383 1.17 % 1,010,489 $121,286,533
ALV Allianz SE 5231485 1.10 % 276,027 $114,158,337
ULVR Unilever plc B10RZP7 1.08 % 1,747,327 $111,252,102
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
H57312649
H69293217
H5820Q150
780087102
Ticker Description Shares
NESN
ROG
NOVN
7203
HSBA
SHEL
CBA
RY
ALV
ULVR

Distributions

Realized/Unrealized gains

as of 04/30/2025

Realized gain

-$0.80

% of NAV

decreased-1.05%

Unrealized gains of NAV

$11.89

% of NAV

increased15.71%

Fiscal year end

10/31/2025

Distribution schedule

Quarterly

How your fund can affect your taxes

A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses.

These tax implications don't apply to investors holding a fund in a tax-deferred account, such as an IRA or employer-sponsored retirement plan.

Learn about realized and unrealized gains and losses

How your fund can affect your taxes

A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses.

These tax implications don't apply to investors holding a fund in a tax-deferred account, such as an IRA or employer-sponsored retirement plan.

Learn about realized and unrealized gains and losses
Dividend income and capital gains
Type$/Share Payable date Record date Ex-dividend date
Dividend$0.60030003/25/202503/21/202503/21/2025
Dividend$0.96470012/24/202412/20/202412/20/2024
Dividend$0.69670009/24/202409/20/202409/20/2024
Dividend$1.00870006/25/202406/21/202406/21/2024
Dividend$0.61580003/20/202403/18/202403/15/2024
Dividend$0.86440012/21/202312/19/202312/18/2023

Fund management

Vanguard International High Dividend Yield ETF seeks to track the performance of the FTSE All-World ex US High Dividend Yield Index, which focuses on companies located in developed and emerging markets, excluding the United States, that are forecasted to have above-average dividend yields. The fund invests by sampling the index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full index in terms of key characteristics. These key characteristics include industry weightings and market capitalization, as well as certain financial measures, such as price/earnings ratio and dividend yield. The experience and stability of Vanguard’s Equity Index Group have permitted continuous refinement of techniques for reducing tracking error. The group uses proprietary software to implement trading decisions that accommodate cash flow and maintain close correlation with index characteristics. Vanguard’s refined indexing process, combined with low management fees and efficient trading, has provided tight tracking net of expenses.

Vanguard Equity Index Group
Launched in 1975, The Vanguard Group, Malvern, Pennsylvania, is among the world’s largest equity and fixed income managers. As chief investment officer, Gregory Davis, CFA, oversees Vanguard’s Equity Index, Investment Strategy, Quantitative Equity, and Fixed Income Groups. Rodney Comegys, Principal and global head of Vanguard's Equity Index Group, is responsible for all equity index funds. The Equity Index Group manages indexed equity portfolios covering U.S. and international markets. It has developed sophisticated portfolio construction methodologies and efficient trading strategies that seek to deliver returns that are highly correlated with target portfolio benchmarks. The group has advised Vanguard International High Dividend Yield ETF since 2016.
Michael Perre
Principal, Portfolio manager.
Advised the fund since 2016. Worked in investment management since 1990. B.A., Saint Joseph’s University. M.B.A., Villanova University.
Aaron Choi
CFA, Portfolio manager.
Advised the fund since 2021. Worked in investment management since 2015. B.S., Pennsylvania State University.
Scott E. Geiger
CFA, Portfolio manager.
Advised the fund since 2025. Worked in investment management since 2008. B.S., Millersville University.

Performance & fees

1
Effective July 15, 2024, the market price returns are calculated using the official closing price as reported by the ETF’s primary exchange. Prior to July 15, 2024, the market price returns were calculated using the midpoint between the bid and ask prices as of the closing time of the New York Stock Exchange (typically 4 p.m., Eastern time). The returns shown do not represent the returns you would receive if you traded shares at other times.
2
Focuses on companies located in developed and emerging markets, excluding the United States, that are expected to have above-average dividend yields.
3

Most recent data available. © 2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) does not constitute investment advice offered by Morningstar; and (4) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

4

R-squared and beta are calculated from trailing 36-month fund returns relative to the associated benchmark.

© 2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Vanguard ETFs as a share class: Vanguard ETFs® (exchange-traded funds) are a class of shares listed for trading on an exchange. The shares are available only through a broker, including Vanguard Brokerage Services®.

Vanguard ETF® Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.

Total returns: Short-term total return information is provided only as a service. Historical performance—particularly short-term performance—is no guarantee of future returns. Price, yield, and return on an actual investment will fluctuate, and you may have a gain or loss when you sell. Average annual returns include changes in price and reinvestments of dividends and capital gains. Since-inception returns for less than 1 year and year-to-date returns aren't annualized. Index performance is provided as a benchmark but isn't illustrative of any particular investment. You can't invest in an index.

Standardized returns: To see quarterly fee-adjusted returns, refer to the Price & Performance details.

Expense ratios: Expense ratios are displayed on Overview. For investments that are less than 1 fiscal year old, expense ratios are estimated.

Risk: All investing is subject to risk, including the possible loss of the money you invest. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.

Vanguard average ETF expense ratio: 0.05%. Industry average ETF expense ratio: 0.22%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2023.

An investment in the fund could lose money over short or even long periods. You should expect the fund’s share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. Although International High Dividend Yield ETF is listed for trading on NASDAQ, it is possible that an active trading market may not be maintained. Trading of International High Dividend Yield ETF on NASDAQ may be halted if NASDAQ officials deem such action appropriate, if International High Dividend Yield ETF is delisted from NASDAQ, or if the activation of marketwide “circuit breakers” halts stock trading generally. Performance could be hurt by:

  • Stock market risk: The chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. The fund’s investments in foreign stocks can be riskier than U.S. stock investments. Foreign stocks tend to be more volatile and less liquid than U.S. stocks. The prices of foreign stocks and the prices of U.S. stocks may move in opposite directions. In addition, the fund’s target index may, at times, become focused in stocks of a particular market sector, which would subject the fund to proportionately higher exposure to the risks of that sector.
  • Country/Regional risk: The chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value of securities issued by companies in foreign countries or regions. Because the fund may invest a large portion of its assets in securities of companies located in any one country or region, its performance may be hurt disproportionately by the poor performance of its investments in that area. Country/Regional risk is especially high in emerging markets.
  • Emerging markets risk: The chance the stocks of companies located in emerging markets will be substantially more volatile, and substantially less liquid, than the stocks of companies located in more developed foreign markets because, among other factors, emerging markets can have greater custodial and operational risks; less developed legal, tax, regulatory, and accounting systems; and greater political, social, and economic instability than developed markets.
  • Special risks of investing in China: The fund’s investments in companies or issuers economically tied to China are subject to the country/regional, emerging markets, and currency risks described above, in addition to unique risks. Investments economically tied to China are associated with considerable degrees of social and humanitarian, legal, regulatory, political, and economic uncertainty. Risks described above may be more pronounced for the fund. All of these factors, among others, could have negative impacts on the fund. For example, the fund may not be able to access its desired amount of shares of companies incorporated in China that trade on the Shanghai and Shenzhen Stock Exchanges (A-shares) and/or the Hong Kong Stock Exchange (H-shares), which may cause the fund to miss out on investment opportunities. Investments economically tied to China may be (or become in the future) restricted or sanctioned by the U.S. government or another government, which could cause these securities to decline in value or become less liquid. If the fund’s holdings become impacted by restrictions or sanctions, the fund may incur losses. Additionally, the fund may gain exposure to certain companies in China through legal structures known as variable interest entities (VIEs), which provide exposure to Chinese companies through contractual arrangements instead of equity ownership. Investing through a VIE does not offer the same level of investor protection as direct ownership and is subject to risks including breach of the contractual arrangements, difficulty in enforcing the contractual arrangements outside of the U.S., and intervention by the U.S. government. These risks could significantly affect a VIE’s market value, which in turn could impact the fund’s performance.
  • Currency risk: The chance that the value of a foreign investment, measured in U.S. dollars, will decrease because of unfavorable changes in currency exchange rates.
  • Index sampling risk: The chance that the securities selected for the fund, in the aggregate, will not provide investment performance matching that of the index. Index sampling risk for the fund should be low.
  • Investment style risk: The chance that returns from dividend-paying stocks will trail returns from the overall stock market. Specific types of stocks tend to go through cycles of doing better—or worse—than the stock market in general. These periods have, in the past, lasted for as long as several years.
  • Index-related risks: The fund is subject to risks associated with index investing, which include passive management risk, tracking error risk, and index provider risk. Passive management risk is the chance that the fund's use of an indexing strategy will negatively impact the fund's performance. Because the fund seeks to track the performance of its target index regardless of how that index is performing, the fund's performance may be lower than it would be if the fund were actively managed. Tracking error risk is the chance that the fund's performance will deviate from the performance of its target index. Tracking error risk may be heightened during times of increased market volatility or under other unusual market conditions. Index provider risk is the chance that the fund will be negatively impacted by changes or errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the fund and, as a result, the fund's shareholders.