VGS and QUAL overlap by about 41%: there is a fair amount of double-up. VGS is cheaper (0.18% vs 0.40% a year), about $220 a year less on $100,000. VGS is the bigger fund ($18.7b vs $9.2b). Both hold developed-market companies outside Australia. QUAL picks around 300 with high profits, stable earnings and low debt; VGS holds the whole market for a lower fee.
📅 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.
QUAL
VanEck MSCI International Quality ETFQUAL invests in around 300 global companies outside Australia with high returns on equity, stable earnings and low debt.
VGS vs QUAL 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 | QUAL | |
|---|---|---|
| Issuer | Vanguard | VanEck |
| Index | MSCI World ex Australia Index | MSCI World ex Australia Quality Index |
| Fee (a year) | 0.18% | 0.40% |
| Size | $18.7b | $9.2b |
| Net money in, September | +$532m | +$195m |
| 1-year return | +10.1% | +10.1% |
| 5-year return | +75% | +71% |
| Listed | 2014 | 2014 |
| Top 10 holdings | 35% of fund | 40% of fund |
| Trend now | Base | Base |
How much do VGS and QUAL overlap?
About 41% of their holdings are the same, by weight: medium overlap, so there is a fair amount of double-up.
The biggest companies they both own
| Company | VGS | QUAL |
|---|---|---|
| Apple IncInformation Technology | 6.5% | 5.6% |
| Microsoft CorpInformation Technology | 4.8% | 6.0% |
| NVIDIA CorpInformation Technology | 7.0% | 4.5% |
| Alphabet (Google)Communication Services | 4.8% | 3.5% |
| Meta Platforms IncCommunication Services | 2.1% | 4.7% |
| Broadcom IncInformation Technology | 2.1% | 3.8% |
| Eli Lilly & CoHealth Care | 1.2% | 4.3% |
| Asml Holding NVInformation Technology | 0.9% | 2.5% |
| Johnson & JohnsonHealth Care | 0.9% | 2.1% |
| Visa IncFinancials | 0.8% | 3.0% |
Only in VGS
- Amazon.com Inc 3.2%
- Micron Technology Inc 1.6%
- Tesla Inc 1.4%
- Advanced Micro Devices Inc 1.3%
- JPMorgan Chase & Co 1.2%
Only in QUAL
- No holdings above 0.5%: the differences are all small positions.
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 QUAL: 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 QUAL.
See the exact overlap with everything you hold, plus the trend of each ETF, in our free calculator.
More comparisons
VGS vs QUAL FAQs
Is VGS or QUAL better?
Neither is better for everyone. Both hold developed-market companies outside Australia. QUAL picks around 300 with high profits, stable earnings and low debt; VGS holds the whole market for a lower fee. Choose VGS if you want the whole market at a low fee. Choose QUAL if you want a quality tilt and accept a higher fee and a different mix of companies.
What is the difference between VGS and QUAL?
VGS and QUAL overlap by about 41%: there is a fair amount of double-up. VGS is cheaper (0.18% vs 0.40% a year), about $220 a year less on $100,000. VGS is the bigger fund ($18.7b vs $9.2b). Both hold developed-market companies outside Australia. QUAL picks around 300 with high profits, stable earnings and low debt; VGS holds the whole market for a lower fee.
Should I own both VGS and QUAL?
You can, but check the double-up: about 41% of their holdings are the same. Use the overlap calculator to see how they fit with your other ETFs.
Which is cheaper, VGS or QUAL?
VGS is cheaper (0.18% vs 0.40% a year), about $220 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 QUAL. Consider the PDS and TMD, and your own circumstances, before investing.