VGS and BGBL overlap by about 92%: owning both mostly doubles up. BGBL is cheaper (0.08% vs 0.18% a year), about $100 a year less on $100,000. VGS is the bigger fund ($18.7b vs $5.5b). Both own the same big developed-market companies outside Australia, unhedged. The main differences are the fee and the size and age of the fund.
📅 As at 30 September 2026: fees, size, flows and returns from the TMX Australia funds report; overlap from published holdings as at 30 September 2026.
VGS
Vanguard MSCI Index International Shares ETFVGS invests in more than a thousand large companies across the world’s developed markets outside Australia, weighted by size. It is one of the most popular ways for Australians to own global shares.
BGBL
Betashares Global Shares ETFBGBL invests in more than a thousand large and mid-sized companies across developed markets outside Australia, for one of the lowest fees available.
VGS vs BGBL side by side
Green marks the cheaper, bigger or better-performing fund on each line. Past returns are not a reliable guide to the future.
| VGS | BGBL | |
|---|---|---|
| Issuer | Vanguard | Betashares |
| Index | MSCI World ex Australia Index | Solactive GBS Developed Markets ex Australia Large & Mid Cap Index |
| Fee (a year) | 0.18% | 0.08% |
| Size | $18.7b | $5.5b |
| Net money in, September | +$532m | +$220m |
| 1-year return | +10.1% | +10.4% |
| 5-year return | +75% | Not 5 years old |
| Listed | 2014 | 2023 |
| Top 10 holdings | 35% of fund | 34% of fund |
| Trend now | Base | Base |
How much do VGS and BGBL overlap?
About 92% of their holdings are the same, by weight: high overlap, so owning both mostly doubles up.
The biggest companies they both own
| Company | VGS | BGBL |
|---|---|---|
| Apple IncInformation Technology | 6.5% | 6.7% |
| NVIDIA CorpInformation Technology | 7.0% | 6.5% |
| Microsoft CorpInformation Technology | 4.8% | 5.2% |
| Alphabet (Google)Communication Services | 4.8% | 4.1% |
| Amazon.com IncConsumer Discretionary | 3.2% | 3.1% |
| Broadcom IncInformation Technology | 2.1% | 2.1% |
| Meta Platforms IncCommunication Services | 2.1% | 1.8% |
| Tesla IncConsumer Discretionary | 1.4% | 1.7% |
| Micron Technology IncInformation Technology | 1.6% | 1.3% |
| Eli Lilly & CoHealth Care | 1.2% | 1.6% |
Only in VGS
- No holdings above 0.5%: the differences are all small positions.
Only in BGBL
- Roper Technologies Inc 0.5%
Sectors and countries
Sectors
Countries
Trend: base, uptrend or downtrend?
Past year of prices, shaded by trend stage. The dashed line is the 200-day exponential average. As at 4 November 2026. How base and trend works.
VGS or BGBL: which suits who?
Where either fits depends on the rest of your portfolio: whether it’s your core or a satellite. See core and satellite investing and our full profiles of VGS and BGBL.
See the exact overlap with everything you hold, plus the trend of each ETF, in our free calculator.
More comparisons
VGS vs BGBL FAQs
Is VGS or BGBL better?
Neither is better for everyone. Both own the same big developed-market companies outside Australia, unhedged. The main differences are the fee and the size and age of the fund. Choose VGS if you want the biggest, longest-running global shares ETF on the ASX, with a track record back to 2014. Choose BGBL if keeping costs as low as possible matters most to you. It is one of the cheapest global shares ETFs available.
What is the difference between VGS and BGBL?
VGS and BGBL overlap by about 92%: owning both mostly doubles up. BGBL is cheaper (0.08% vs 0.18% a year), about $100 a year less on $100,000. VGS is the bigger fund ($18.7b vs $5.5b). Both own the same big developed-market companies outside Australia, unhedged. The main differences are the fee and the size and age of the fund.
Should I own both VGS and BGBL?
Usually there’s little point. With 92% overlap, owning both mostly doubles up on the same companies. Pick one.
Which is cheaper, VGS or BGBL?
BGBL is cheaper (0.08% vs 0.18% a year), about $100 a year less on $100,000. Fees are taken from the fund’s returns, not charged separately.
Fees, size, flows and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns and the 5-year figure is cumulative. Overlap, sectors and countries are based on each fund’s published holdings, scaled to the part of each fund we can see. Trend stages are a technical indicator based on 10, 20, 50 and 200-day exponential moving averages; they describe the past, not the future. General information only, not a recommendation to buy or sell VGS or BGBL. Consider the PDS and TMD, and your own circumstances, before investing.