VGK(VGK)
AI Look-Through Summary
AI GeneratedThe ETF's sector allocation is heavily skewed towards Other, which likely represents European large-cap stocks not categorized under traditional sectors such as Technology or Healthcare. This suggests that the fund's holdings are primarily composed of established multinational corporations from Europe.
A notable concentration risk exists in the Top Holdings list, with semiconductor equipment manufacturer ASML holding a significant 3.9% allocation. The sector mix is also distinctly European-focused, which may be influenced by the ETF's tracking index. A favorable macro environment for this portfolio would likely include sustained economic growth in Europe and continued demand for technology products, while an unfavorable environment could arise from increased trade tensions or global recessionary pressures.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-14 07:48:17.452794+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 95/100The investment theme implied by the ticker VGK is a broad exposure to developed markets, specifically Europe and Japan. The actual holdings list confirms this alignment through significant representation of major European blue chips such as HSBA, NOVN, NESN, SIE, ALV, TTE, IBE, ABBN, ENR, AZN, ROP, ASML, SAP, SHEL, SU, and others. There are no holdings that appear unrelated to the general developed market theme; even sectors like Energy and Financial Services serve as standard components of a diversified regional portfolio rather than thematic outliers. The inclusion of mega-cap stocks provides stability without detracting from the fund's core objective of tracking a wide swath of international equities, suggesting the fund maintains its intended geographic focus effectively.
Sector coherence is high, with weights distributed across Technology, Healthcare, Energy, and Industrials in proportions that mirror typical developed market indices rather than following a narrow thematic tilt. The top-10 concentration of 17.8% indicates a well-diversified structure where no single stock or small group dominates the portfolio to an extent that would distort performance relative to its benchmark. This distribution demonstrates that the fund is genuinely differentiated from broad domestic US indices by its specific regional weighting and sector composition, yet it remains consistent with what one would expect from a comprehensive developed market exposure. The data reflects a stable, diversified vehicle designed for long-term regional growth without evidence of deviation into unrelated strategies or excessive concentration risks.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-24 04:12:51.534109+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of VGK presents a distinct divergence from the broad market, characterized by an intentional underweighting in traditional growth and cyclical sectors. With technology holdings comprising only 7% of the portfolio compared to its typical dominance in equity indices, and healthcare capped at 3%, the fund appears designed to mitigate exposure to high-beta drivers often associated with rapid valuation expansion. The significant presence of energy (2.9%) and industrials (2.5%), alongside minimal allocations to consumer cyclicals (1.4%) and communication services (0.3%), suggests a strategic tilt toward value-oriented, income-generating assets rather than capital appreciation through tech or media growth stocks. This structural composition implies an investment thesis focused on stability and dividend yield preservation during periods of market volatility or high interest rates, effectively acting as a defensive overlay within the equity complex.
Despite the broad diversification across eleven sectors, concentration risk remains a notable feature driven by the top ten holdings accounting for 17.8% of assets under management. The prominence of ASML at 3.6%, followed closely by HSBA and ROP each holding nearly double that weight, indicates that while sector weights are low, individual stock influence is substantial within those specific industries. This concentration pattern reveals a reliance on large-cap European equities to anchor the portfolio's performance, as evidenced by the top five holdings representing major international firms rather than domestic U.S. giants. The presence of non-U.S. entities like HSBA and NOVN in significant positions further highlights an international mandate that seeks exposure to developed markets outside North America. Ultimately, the fund's structure balances sector neutrality with specific concentration points on established global leaders, creating a profile that prioritizes income generation while maintaining a unique geographic and style bias distinct from standard large-cap blends.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 02:26:29.454969+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share VGK's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of VGK's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| SPDWSPDW | $36B | — | 451 | 84.7% |
| VEAVanguard FTSE Developed Markets Index Fund ETF Shares | $290B | — | 239 | 78.2% |
| CWICWI | $2B | — | 278 | 76.9% |
| VEUVEU | $86B | — | 194 | 74.6% |
| VXUSVXUS | $624B | — | 192 | 74.2% |
85% of VGK's portfolio by weight is also held by SPDW. When SPDW receives inflows, it mechanically buys these shared stocks — dragging VGK's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofVGK's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 29% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 30% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside VGK collectively pay out 49% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 21% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryVGK is up 16.7% over the last 12 months. The underlying weighted earnings growth of its constituents is +17.7%. Price performance is closely aligned with fundamental earnings growth — valuations are roughly unchanged.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 29% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of VGK's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of VGK's analyzed weight, 74% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 26% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 21% of fund weight with available data. Not investment advice.
Passive Crowding Score
SEVEREHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
VGK has a Passive Crowding Score of 100/100. On average, 31.9% of the market capitalization of VGK's underlying holdings is structurally locked in passive ETF vehicles. In the event of a broad sell-off, VGK faces elevated "gap-down" risk — as passive redemptions force simultaneous selling of constituents where a large portion of the float is not actively trading.
Passive $ = Σ(ETF AUM × holding weight) across all 10 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | ASML | ASML Holding NV Technology | 4.80% | 56.8x | 8/9 |
| 2 | HSBA | HSBC Holdings plc | 2.04% | — | — |
| 3 | NOVN | Novartis AG | 1.83% | — | — |
| 4 | ROP | Roche Holding AG Technology | 1.81% | 22.7x | 5/9 |
| 5 | AZN | AstraZeneca plc Healthcare | 1.76% | 25.5x | 7/9 |
| 6 | NESN | Nestle SA | 1.66% | — | — |
| 7 | SIE | Siemens AG | 1.48% | — | — |
| 8 | SHEL | Shell plc Energy | 1.25% | 13.3x | 5/9 |
| 9 | ALV | Allianz SE Consumer Cyclical | 1.13% | 13.5x | 7/9 |
| 10 | SU | Schneider Electric SE Energy | 1.11% | 16.4x | 7/9 |
| 11 | ABBN | ABB Ltd. | 1.06% | — | — |
| 12 | IBE | Iberdrola SA | 1.05% | — | — |
| 13 | RR. | Rolls-Royce Holdings plc | 1.01% | — | — |
| 14 | SAP | SAP SE Technology | 1.00% | 22.7x | 8/9 |
| 15 | UBSG | UBS Group AG | 0.97% | — | — |
Historical Holdings Snapshots
Browse how VGK’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-19
15 holdings · 24.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ASML | 4.80% | 927,679 | $1.8B |
| 2 | HSBA | 2.04% | 41,249,985 | $780.0M |
| 3 | NOVN | 1.83% | 4,484,812 | $700.9M |
| 4 | ROP | 1.81% | 1,690,794 | $695.1M |
| 5 | AZN | 1.76% | 3,605,502 | $673.2M |
| 6 | NESN | 1.66% | 6,186,934 | $634.6M |
| 7 | SIE | 1.48% | 1,763,791 | $567.1M |
| 8 | SHEL | 1.25% | 12,302,627 | $478.0M |
| 9 | ALV | 1.13% | 915,154 | $433.2M |
| 10 | SU | 1.11% | 1,304,540 | $426.9M |
| 11 | ABBN | 1.06% | 3,722,847 | $405.0M |
| 12 | IBE | 1.05% | 16,219,414 | $403.7M |
| 13 | RR. | 1.01% | 20,172,748 | $386.7M |
| 14 | SAP | 1.00% | 2,474,574 | $381.5M |
| 15 | UBSG | 0.97% | 7,516,772 | $372.5M |
2026-07-18
15 holdings · 24.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ASML | 4.80% | 927,679 | $1.8B |
| 2 | HSBA | 2.04% | 41,249,985 | $780.0M |
| 3 | NOVN | 1.83% | 4,484,812 | $700.9M |
| 4 | ROP | 1.81% | 1,690,794 | $695.1M |
| 5 | AZN | 1.76% | 3,605,502 | $673.2M |
| 6 | NESN | 1.66% | 6,186,934 | $634.6M |
| 7 | SIE | 1.48% | 1,763,791 | $567.1M |
| 8 | SHEL | 1.25% | 12,302,627 | $478.0M |
| 9 | ALV | 1.13% | 915,154 | $433.2M |
| 10 | SU | 1.11% | 1,304,540 | $426.9M |
| 11 | ABBN | 1.06% | 3,722,847 | $405.0M |
| 12 | IBE | 1.05% | 16,219,414 | $403.7M |
| 13 | RR. | 1.01% | 20,172,748 | $386.7M |
| 14 | SAP | 1.00% | 2,474,574 | $381.5M |
| 15 | UBSG | 0.97% | 7,516,772 | $372.5M |
2026-07-17
15 holdings · 24.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ASML | 4.80% | 927,679 | $1.8B |
| 2 | HSBA | 2.04% | 41,249,985 | $780.0M |
| 3 | NOVN | 1.83% | 4,484,812 | $700.9M |
| 4 | ROP | 1.81% | 1,690,794 | $695.1M |
| 5 | AZN | 1.76% | 3,605,502 | $673.2M |
| 6 | NESN | 1.66% | 6,186,934 | $634.6M |
| 7 | SIE | 1.48% | 1,763,791 | $567.1M |
| 8 | SHEL | 1.25% | 12,302,627 | $478.0M |
| 9 | ALV | 1.13% | 915,154 | $433.2M |
| 10 | SU | 1.11% | 1,304,540 | $426.9M |
| 11 | ABBN | 1.06% | 3,722,847 | $405.0M |
| 12 | IBE | 1.05% | 16,219,414 | $403.7M |
| 13 | RR. | 1.01% | 20,172,748 | $386.7M |
| 14 | SAP | 1.00% | 2,474,574 | $381.5M |
| 15 | UBSG | 0.97% | 7,516,772 | $372.5M |
2026-07-16
15 holdings · 24.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ASML | 4.80% | 927,679 | $1.8B |
| 2 | HSBA | 2.04% | 41,249,985 | $780.0M |
| 3 | NOVN | 1.83% | 4,484,812 | $700.9M |
| 4 | ROP | 1.81% | 1,690,794 | $695.1M |
| 5 | AZN | 1.76% | 3,605,502 | $673.2M |
| 6 | NESN | 1.66% | 6,186,934 | $634.6M |
| 7 | SIE | 1.48% | 1,763,791 | $567.1M |
| 8 | SHEL | 1.25% | 12,302,627 | $478.0M |
| 9 | ALV | 1.13% | 915,154 | $433.2M |
| 10 | SU | 1.11% | 1,304,540 | $426.9M |
| 11 | ABBN | 1.06% | 3,722,847 | $405.0M |
| 12 | IBE | 1.05% | 16,219,414 | $403.7M |
| 13 | RR. | 1.01% | 20,172,748 | $386.7M |
| 14 | SAP | 1.00% | 2,474,574 | $381.5M |
| 15 | UBSG | 0.97% | 7,516,772 | $372.5M |
2026-07-15
15 holdings · 23.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ASML | 3.93% | 937,849 | $1.5B |
| 2 | HSBA | 2.02% | 41,513,279 | $779.5M |
| 3 | ROP | 1.85% | 1,698,334 | $714.6M |
| 4 | NOVN | 1.81% | 4,640,597 | $698.0M |
| 5 | AZN | 1.74% | 3,623,753 | $672.8M |
| 6 | NESN | 1.64% | 6,220,918 | $631.2M |
| 7 | SIE | 1.44% | 1,775,231 | $556.6M |
| 8 | SHEL | 1.38% | 12,568,338 | $531.1M |
| 9 | SAP | 1.17% | 2,485,385 | $449.6M |
| 10 | SU | 1.07% | 1,310,362 | $411.6M |
| 11 | ALV | 1.06% | 919,898 | $407.7M |
| 12 | ABBN | 1.04% | 3,761,675 | $402.2M |
| 13 | TTE | 1.00% | 4,387,324 | $385.0M |
| 14 | RR. | 0.96% | 20,504,891 | $368.9M |
| 15 | IBE | 0.93% | 15,856,586 | $360.0M |
2026-07-14
15 holdings · 23.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | ASML | 3.93% | 937,849 | $1.5B |
| 2 | HSBA | 2.02% | 41,513,279 | $779.5M |
| 3 | ROP | 1.85% | 1,698,334 | $714.6M |
| 4 | NOVN | 1.81% | 4,640,597 | $698.0M |
| 5 | AZN | 1.74% | 3,623,753 | $672.8M |
| 6 | NESN | 1.64% | 6,220,918 | $631.2M |
| 7 | SIE | 1.44% | 1,775,231 | $556.6M |
| 8 | SHEL | 1.38% | 12,568,338 | $531.1M |
| 9 | SAP | 1.17% | 2,485,385 | $449.6M |
| 10 | SU | 1.07% | 1,310,362 | $411.6M |
| 11 | ALV | 1.06% | 919,898 | $407.7M |
| 12 | ABBN | 1.04% | 3,761,675 | $402.2M |
| 13 | TTE | 1.00% | 4,387,324 | $385.0M |
| 14 | RR. | 0.96% | 20,504,891 | $368.9M |
| 15 | IBE | 0.93% | 15,856,586 | $360.0M |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove VGK Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How VGK’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-17.
SecuritiesDB is for informational purposes only. Not investment advice.