Vanguard® MSCI
Australian Small
Companies Index ETF
ETF
VSO
ASX Code: VSO
Vanguard exchange traded funds (ETFs) are diversified portfolios of securities
constructed using an indexing approach that can be readily traded on the ASX.
Summary
As at 31 December 2014
ETF name
Vanguard® MSCI Australian
Small Companies Index ETF
ASX code
VSO
ISIN
Benchmark
Management costs
Distribution frequency
Distribution reinvestment plan
ETF listed on ASX
Underlying fund
Underlying fund
commencement date
AU000000VSO2
As an index manager, Vanguard Investments Australia Ltd (Vanguard) aims to
deliver the index return, before fees, by building investment portfolios using
similar assets and weightings to the benchmark index. This means Vanguard
ETF returns, before costs, should closely match the indices they track.
MSCI Australian Shares Small Cap Index
0.30% p.a.
Semi-annually (Jun, Dec)
Yes
26 May 2011
Vanguard® Australian Small
Companies Index Fund
Objective
The Vanguard® MSCI Australian Small Companies Index ETF (ASX code: VSO)
provides a low cost way to invest in a portfolio of the smallest Australian
companies (by market capitalisation) listed on the ASX. The investment
objective is to seek to track the return (income and capital appreciation) of the
MSCI Australian Shares Small Cap Index before taking into account fund fees
and expenses.
23 May 2011
About the Index
The MSCI Australian Shares Small Cap Index includes the smaller Australian
companies (by market capitalisation) targeting coverage of around 14% of free
float-adjusted market capitalisation of the Australian share market. The number
of securities in the Index may vary over time.
Summary Risk Level
High- the potential for higher returns than lower risk investments, however
there is potential for below average returns and/or some loss of capital. Please
see Product Disclosure Statement for further details.
About Vanguard
The Vanguard Group, Inc. is one of the world’s largest investment groups. In
Australia, Vanguard has established a reputation as an indexing specialist,
using our low cost and diversified approach to investment management.
Vanguard launched its first ETFs in the Australian marketplace in May 2009. In
the US, Vanguard is one of the largest providers in the well established ETF
market, since launching ETFs in 2001.
Vanguard ETF Product Profile
Vanguard® MSCI Australian Small Companies Index ETF
Dated 31 December 2014
Holdings6
Overview
ETF
Size (AUD)
Inception date
Management costs
No. of securities
Benchmark
Underlying fund
$43.6 million
$43.6 million
23 May 2011
23 May 2011
0.30% p.a
154
MSCI Australian Shares Small Cap Index
Vanguard Australian Shares Small Companies
Index Fund
Underlying fund
Performance return1,2,3 (%)
1 month
3 months
6 months
1 year
3 years (pa)
5 years (pa)
10 years (pa)
Inception (pa)
ETF
Gross
Bmk
ETF
Total
Dist
Growth
2.13
-0.76
-1.38
-0.96
4.49
n/a
n/a
-0.52
2.13
-0.84
-1.41
-1.05
4.51
n/a
n/a
-0.66
2.10
-0.84
-1.53
-1.26
4.18
n/a
n/a
-0.82
1.68
1.63
1.62
3.10
3.43
n/a
n/a
3.49
0.42
-2.47
-3.15
-4.36
0.75
n/a
n/a
-4.31
Top 10 holdings
1
Challenger
2
Duet Group
3
Aristocrat Leisure Ltd
4
Ansell
5
Bluescope Steel
6
Echo Entertainment Group Ltd
7
Spark Infrastructure
8
Orora Ltd
9
Recall Holdings Ltd
10 Primary Health Care
The Top 10 holdings represent 21.3% of the total underlying fund
Sector allocation6 (%)
4.4
4.4
Energy
16.9
16.8
Materials
15.0
15.0
Industrials
Year to year franking levels and gross return1,2,3 (%)
Dec - Dec
YTD
2014
2013
2012
2011
June - June
Bmk
ETF
Bmk
Franking
-0.96
-0.96
5.04
9.68
n/a
-1.05
-1.05
4.99
9.89
n/a
-1.38
15.63
2.04
-13.72
n/a
-1.41
15.65
2.07
-13.88
n/a
78.6
64.7
41.7
66.1
n/a
Prices4
3.5
3.6
7.7
7.8
Health Care
11.6
11.6
Financials ex Property
7.5
7.5
Net asset value
31 December 2014
$43.3554
Income distribution5
31 December 2014
Consumer Staples
Property Trusts
Month ended
Half year ended
21.8
21.7
Consumer Discretionary
ETF
Telecom. Services
Amount (CPU)
Reinvestment price
71.4082
$42.6413
4.1
4.1
Information Technology
Utilities
2.5
2.5
5.0
5.0
Notes
1. Past performance is not an indication of future performance
2. Returns assume reinvestment of all distributions. Returns for periods longer than 1 year are
annualised. ETF gross returns are before management costs and taxes, but after transaction and
operational costs. ETF total return is the ETF gross return less management costs. Index returns do not
allow for taxes, management, transaction and operational costs.
3. Returns assume that an investor purchased shares at Net Asset Value (NAV) and does not reflect the
transaction costs imposed on the creation and redemptions of ETF Units, brokerage or the bid ask
spread that investors pay to buy and sell ETF securities on the Australian Securities Exchange.
4. Month end cumulative-distribution
5. Past distributions are not an indication of future distributions
6. Figures as per underlying fund
Further information
Personal investors can transact in Vanguard ETFs through their financial adviser or stockbroker.
Connect with Vanguard TM > vanguard.com.au > 1300 655 888
In preparing the above information, individual cirumstances, for example tax implications, have not been taken into account and it may therefore not be applicable to an individual's situtation. Before making an investment decision, you should consider
your or your clients' circumstances and whether the above information is applicable to your or your clients' situation. © 2015 Vanguard Investments Australia Ltd (ABN 72 072 881 086/AFS Licence 227263)("Vanguard") is the issuer of the Vanguard®
MSCI Australian Small Companies Index ETF. Vanguard ETFs will only be issued to Authorised Participants, that is persons who have been authorised as trading participants under the ASX Operating Rules ("Eligible Investors"). Retail investors can
transact in Vanguard ETFs through a stockbroker or financial adviser on the secondary market. Investors should consider the Product Disclosure Statement in deciding whether to acquire Vanguard ETFs. Retail investors can only use the Product
Disclosure Statement for informational purposes only. You can access the Product Disclosure Statement on our website.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities. The PDS contains a more detailed description of the limited relationship MSCI has
with Vanguard and any related funds.