What Is VGK? Vanguard FTSE Europe ETF
Short answer
VGK is a Vanguard index ETF that provides broad, low-cost exposure to developed-Europe equities, tracking the FTSE Developed Europe All Cap Index across roughly 1,200 stocks. Its holdings include well-known European multinationals such as Nestle, ASML, Novo Nordisk, SAP, Roche, and AstraZeneca, spanning the UK, France, Switzerland, Germany, the Netherlands, and the Nordics. The fund has historically offered a higher dividend yield than broad US index funds. Because its holdings are priced in euros, pounds, and other currencies, US investors take on currency exposure on top of the stocks themselves.
VGK is issued by Vanguard and tracks FTSE Developed Europe All Cap Index. It charges a 0.06% expense ratio, holds approximately approximately $30 billion in assets under management, yields about approximately 2.8%, and launched in 2005-03-04.
What is VGK?
VGK is a Vanguard index ETF that provides broad, low-cost exposure to developed-Europe equities, tracking the FTSE Developed Europe All Cap Index across roughly 1,200 stocks. Its holdings include well-known European multinationals such as Nestle, ASML, Novo Nordisk, SAP, Roche, and AstraZeneca, spanning the UK, France, Switzerland, Germany, the Netherlands, and the Nordics. The fund has historically offered a higher dividend yield than broad US index funds. Because its holdings are priced in euros, pounds, and other currencies, US investors take on currency exposure on top of the stocks themselves.
VGK is issued by Vanguard and tracks FTSE Developed Europe All Cap Index, so a single ticker gives you the whole basket of underlying holdings weighted by the index's methodology rather than by any active stock-picking.
VGK holdings: what's actually inside
VGK is weighted toward its largest constituents. As of early 2026, the top holdings are:
| Rank | Ticker | Company | % of VGK | |
|---|---|---|---|---|
| 1 | SAP | SAP SE | 2.3% | |
| 2 | NVO | Novo Nordisk A/S | 2.1% | |
| 3 | ASML | ASML Holding NV | 2.1% | |
| 4 | NSRGY | Nestle SA | 1.9% | |
| 5 | RHHBY | Roche Holding AG | 1.7% | |
| 6 | AZN | AstraZeneca PLC | 1.7% | |
| 7 | NVS | Novartis AG | 1.6% | |
| 8 | HSBC | HSBC Holdings PLC | 1.6% | |
| 9 | SHEL | Shell PLC | 1.4% | |
| 10 | LVMUY | LVMH Moet Hennessy Louis Vuitton SE | 1.3% |
The remaining holdings make up the balance of the fund, with weights tapering off below the top names. Because the index reconstitutes on a rolling basis, the roster stays current without active management. Each ticker above links to its individual stock guide in Walnut.
The bottom line on VGK
VGK is a cheap, diversified, one-ticker way to add developed-Europe stocks to a portfolio, with a 0.06% expense ratio and a yield that has typically run above broad US funds. Its returns for a US investor depend on both the underlying European companies and how the euro, pound, and other currencies move against the dollar.
More on VGK
Whether VGK is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is VGK a buy?
VGK yields approximately 2.8% as of early 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see VGK dividend: yield and schedule.
Build a portfolio around VGK with Walnut
Use VGK as your core holding, then let Walnut's AI propose thematic satellites: AI infrastructure, dividend growth, clean energy, whatever you believe in. Connect your broker, build the basket in conversation, track it as one unit.
FAQ
What is VGK?
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VGK is the Vanguard FTSE Europe ETF, an index fund that holds roughly 1,200 stocks across developed European markets. It tracks the FTSE Developed Europe All Cap Index, covering large, mid, and small-cap companies in countries such as the UK, France, Switzerland, Germany, the Netherlands, and the Nordics. It gives broad European equity exposure in a single ticker.
What is VGK's expense ratio?
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VGK has an expense ratio of 0.06%, which works out to about $6 per year on a $10,000 investment. That is very low for an international equity fund and is one of the cheapest ways to own broad developed-Europe stocks.
How does VGK compare to IEUR or VEA?
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VGK and iShares Core MSCI Europe ETF (IEUR) both target developed Europe and are close substitutes, though they track different indexes and hold slightly different stocks. VEA (Vanguard FTSE Developed Markets ETF) is broader: it covers developed markets worldwide, including Japan, Canada, and Australia, so Europe is only part of it. Choose VGK or IEUR for Europe-only exposure and VEA for global developed-market exposure. Walnut is informational, not investment advice.
What does VGK hold?
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VGK holds a market-cap-weighted basket of developed-Europe stocks. Top positions include SAP, Novo Nordisk, ASML, Nestle, Roche, AstraZeneca, Novartis, HSBC, Shell, and LVMH. The fund is well diversified, with the top ten holdings making up under 20% of assets across roughly 1,200 names.
Does VGK pay a dividend?
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Yes. VGK pays dividends, typically on a quarterly schedule, passing through the dividends of its underlying European companies. Its yield has historically run higher than broad US index funds, often in the range of roughly 2.5% to 3%, because many large European companies pay relatively generous dividends. The exact yield varies with prices and payouts.
Is VGK a good investment?
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Whether VGK fits depends on your goals, time horizon, and how much international exposure you want. It is a low-cost, diversified way to add developed-Europe stocks and can complement a US-heavy portfolio, but it carries equity risk and currency risk. Walnut is informational, not investment advice.
Does VGK carry currency risk?
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Yes. VGK holds stocks priced in euros, British pounds, Swiss francs, and other currencies, and it is not currency-hedged. A US investor's returns reflect both how the underlying stocks perform and how those currencies move against the dollar. A stronger dollar can reduce returns, while a weaker dollar can add to them.
Which countries and sectors does VGK cover?
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VGK spans developed European markets, with the largest country weights typically in the United Kingdom, France, Switzerland, Germany, and the Netherlands, plus the Nordics, Italy, Spain, and others. Sector exposure leans toward financials, industrials, health care, and consumer staples, reflecting the makeup of large European multinationals. It does not include emerging European markets.
How do I compare VGK to similar ETFs?
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Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. VGK's figures are above; the full method is in Walnut's guide on how to compare ETFs.
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Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to early 2026; verify current figures against Vanguard's fund page or your broker before investing.