IXUS vs VXUS: Which ETF Is Better in 2026?

The label is the same; the portfolio is not. Their top holdings overlap about 10% by weight (7 shared names: TSM, ASML, TCEHY, HSBC, RHHBY, RY). They share a theme but hold largely different names, so they are more complementary than interchangeable.

Overlap reflects top holdings by weight (an approximation of full-fund overlap), as of October 2026. Verify full holdings with each issuer.

IXUS tracks MSCI ACWI ex USA IMI, and VXUS tracks FTSE Global All Cap ex US. Because they follow different benchmarks, the two funds screen and weight their holdings differently, and that is what produces any gap in exposure, concentration, and return between them.

On construction, IXUS is market-cap-weighted and VXUS is market-cap-weighted. They share a weighting approach, so any difference comes from the underlying index rather than the method.

So the funds cover similar ground under different rules. Read the holdings overlap above alongside the methodology here to see how much of the difference is real exposure versus labeling.

VXUS is the cheaper fund at 0.05% versus 0.07%, a gap of about $2 a year on a $10,000 holding. When two funds track the same or a very similar index, that fee gap is close to pure savings: it compounds into roughly $60 of fees avoided over 30 years on that $10,000 (more as the balance grows), with essentially no change in what you own.

On scale, IXUS holds about approximately $58.8 billion and VXUS about ~$649 billion (all share classes). Larger funds generally trade at tighter bid-ask spreads and carry deeper options markets, which matters if you trade actively or in size; for buy-and-hold investors it rarely changes the outcome. IXUS currently pays the higher dividend yield (approximately 2.95% versus ~2.3%), which shifts more of its return into cash today.

IXUS concentrates more weight in its largest holdings (top three about 8%), so it suits an investor who wants the theme expressed through its biggest winners and can tolerate more single-name risk. VXUS spreads weight more evenly (top three about 7%), which suits an investor who wants the same theme with less dependence on any one company. Match the fund to how much concentration you actually want.

These are descriptive profiles, not recommendations. What fits you depends on your goals, horizon, and what you already own. Walnut is not an investment adviser.

The overlap that decides most ETF purchases is not between IXUS and VXUS, it is with what you already hold. ETF redundancy is invisible without looking through to the underlying holdings: you can already own most of IXUS inside a broad fund like an S&P 500 or total-market ETF and not realize it.

This is the part a generic comparison cannot answer, because it depends on your account. Connect your brokerage and Walnut looks through your funds to show your real, combined exposure, flags how much of IXUS or VXUS you already own elsewhere, and tells you whether adding either just buys the same companies twice, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

The iShares Core MSCI Total International Stock ETF (IXUS) tracks the MSCI ACWI ex USA IMI Index, which captures large-, mid-, and small-cap stocks from developed and emerging markets outside the United States. With roughly 4,000 to 4,400 holdings, the fund covers the vast majority of the investable non-US equity market in one position. It is one of BlackRock's low-cost Core building blocks, carrying a 0.07% expense ratio, and is commonly paired with a US total-market fund to assemble a globally diversified portfolio. Top country and company exposures lean toward developed Europe and Japan alongside major emerging markets such as Taiwan, South Korea, China, and India. As of October 2026 the largest positions were chipmakers: Taiwan Semiconductor (about 4.5%), Samsung Electronics, SK hynix and ASML, ahead of HSBC, Tencent and Roche. Technology and financials were each a bit over a fifth of the fund. On price, IXUS was up 9.5% year to date and 12.6% over one year as of October 16, 2026, and assets had grown to about $58.8 billion.

Full IXUS guide

Tracks the FTSE Global All Cap ex US Index, which covers roughly 8,500 stocks across developed and emerging markets outside the US. It is the mirror image of VTI (total US market): together VTI plus VXUS equals VT, the whole world. The standard single-ticker way to add international exposure to a US core.

Full VXUS guide

This is a choice of which bet you are making. If you want the theme concentrated in its biggest winners, the more top-heavy fund suits you; if you want the theme spread more evenly so no single name dominates, the more diversified one fits. Match the construction to your conviction, then check overlap with what you already own.

For the full detail, see the IXUS and VXUS guides.

Approximate as of October 2026; verify with each issuer.

iShares (BlackRock) is the largest ETF issuer, with deep liquidity across its range. Vanguard is investor-owned and known for rock-bottom fees.

IXUS and VXUS share a theme but are built differently (about 10% overlap by weight), so pick the construction that matches your conviction. Either way, the decisive check is overlap with your real portfolio. Walnut can show that before you buy. It is not an investment adviser.

Both funds lean on TSM, so understanding that one company explains a lot of what drives either ETF.