VAS invests in around 300 of the largest companies listed on the ASX, weighted by size. It charges 0.07% a year, has $26.7b invested and returned +2.2% over the past year. The most similar ETF is A200, which overlaps with it by about 94%.
📅 As at 30 September 2026: fee, size and 1-year return from the TMX Australia funds report; holdings and overlap from VAS’s published holdings as at 30 September 2026.
Is it a good time to buy VAS?
Nobody can time the market perfectly, but you can check the trend before you buy. Here’s where VAS stands right now.
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| Net flow, September | +$449m |
| Net flow, 2026 so far | +$3.8b |
| Average month in 2026 | +$421m |
Is the whole market risk on, caution or risk off this week? Members see it every Sunday, with the core ETF check-up.
🔒 See it free for 30 days →VAS is in a base. Prices moving sideways can be a time to build a position gradually and watch which way the trend breaks. There’s no rush either way.
General information only, not a recommendation to buy or sell VAS. Whether it suits you depends on your goals and the rest of your portfolio. Trend updated weekly; flows from the TMX Australia funds report (September 2026) and the Global X weekly market monitor. See every ETF’s trend in the ETF trend scanner, or read when to buy an ETF.
What is VAS?
Index: S&P/ASX 300 Index · Distributions: Quarterly · Issuer: Vanguard · Exchange: ASX
Top 10 holdings
The 10 largest companies make up 47% of VAS.
| # | Company | Weight | |
|---|---|---|---|
| 1 | BHP Group LtdMaterials | 11.19% | |
| 2 | Commonwealth Bank of AustraliaFinancials | 9.15% | |
| 3 | National Australia Bank LtdFinancials | 4.42% | |
| 4 | Westpac Banking CorpFinancials | 4.34% | |
| 5 | ANZ Group Holdings LtdFinancials | 4.18% | |
| 6 | CSL LtdHealth Care | 3.20% | |
| 7 | Wesfarmers LtdConsumer Discretionary | 3.15% | |
| 8 | Macquarie Group LtdFinancials | 3.04% | |
| 9 | Rio Tinto LtdMaterials | 2.25% | |
| 10 | Woodside Energy Group LtdEnergy | 2.19% |
Sector breakdown
ETFs most similar to VAS
How much each ETF’s holdings overlap with VAS, by weight. High overlap means owning both mostly doubles up.
| ETF | Overlap | |
|---|---|---|
| A200Betashares Australia 200 ETF | 94% | VAS vs A200 → |
| A300Global X Australia 300 ETF | 93% | Compare in calculator → |
| IOZiShares Core S&P/ASX 200 ETF | 91% | VAS vs IOZ → |
| AYLDGlobal X S&P/ASX 200 Covered Call Complex ETF | 91% | Compare in calculator → |
| STWSPDR S&P/ASX 200 ETF | 90% | VAS vs STW → |
| QOZBetashares Australia 200 Fundamental Value ETF | 77% | Compare in calculator → |
Head to head: VAS vs IOZ · VAS vs STW · VAS vs VHY · all comparisons
Check VAS against your own ETFs →Core or satellite?
CORE Australian shares
VAS is a core building block: the Australian half of a two-ETF core (paired with a global ETF such as VGS or BGBL), or replaced entirely by an all-in-one ETF like DHHF or VDHG. On its own it isn’t a complete portfolio. Read more in core and satellite investing.
Read more: VAS vs A200 · VDHG vs VAS and VGS · Franking credits and ETFs
VAS FAQs
Is VAS a good ETF?
VAS is one of the largest and lowest-cost ways to invest in Australian shares, with a long track record since 2009. Whether it suits you depends on your goals and the rest of your portfolio: on its own it only covers Australia, so most investors pair it with a global shares ETF.
What does VAS invest in?
Around 300 of the largest ASX-listed companies, weighted by size. The biggest holdings are BHP, Commonwealth Bank, the other big banks and CSL. Financials and materials together make up more than half the fund.
What is the difference between VAS and A200?
They are almost the same investment: their holdings overlap by about 94%. A200 tracks the top 200 companies and has a lower fee; VAS tracks the top 300, so it adds about 100 smaller companies. See our full VAS vs A200 comparison.
How often does VAS pay distributions?
VAS pays distributions quarterly. Distributions usually include franking credits from the Australian companies it holds.
Should I own VAS and A200 together?
Usually there is little point: they hold almost the same companies, so owning both mostly doubles up. Use the free ETF overlap calculator to check your own mix.
Fee, size and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns, 5-year figure is cumulative. Holdings from Vanguard as at 30 September 2026. Chart: TradingView. General information only, not a recommendation to buy or sell VAS. Consider the PDS and TMD before investing.