# Vanguard ESG Emerging Markets All Cap UCITS ETF USD (V3MM)

**Page:** https://fundology.uk/fund/v3mm · ISIN IE0001VXZTV7

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, V3MM (Vanguard ESG Emerging Markets All Cap UCITS ETF USD, ISIN IE0001VXZTV7) closed at £6.18 on the London Stock Exchange. Its ongoing charge is 0.19% a year (about £19 on £10,000). Over the three years to 13/11/2026 its total return was +28.9%, or +16.5% after UK CPIH inflation.

## Summary

Vanguard ESG Emerging Markets All Cap UCITS ETF USD is an exchange-traded fund (ETF) from Vanguard, launched in 2022. It tracks the FTSE Emerging All Cap Choice index - Benchmark TR Net — companies in emerging economies such as China, India, Taiwan and Brazil. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.19% a year — about £19 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£6.18** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | V3MM |
| ISIN | IE0001VXZTV7 |
| Also listed as | V3ML (London Stock Exchange, US dollars) |
| Category | Emerging markets |
| Type | ETF |
| Provider | Vanguard |
| Tracks | FTSE Emerging All Cap Choice index - Benchmark TR Net |
| Income | Distributing |
| Ongoing charge | 0.19% a year (£19 per £10,000) |
| Fund size | £18.0m |
| Launched | 2022 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 11/10/2022 |

## Income and distributions

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 14/11/2026, the latest distribution of V3MM was US$0.059077 per share: it went ex-dividend on 17/09/2026 and was paid on 30/09/2026. In the 12 months to 14/11/2026 V3MM declared 4 distributions, together US$0.16342 per share. V3MM has a distribution yield of 2.00% as at 31/10/2026.

Latest distributions of V3MM per share, as of 14/11/2026:

| Ex-dividend date | Payment date | Amount per share |
|---|---|---|
| 17/09/2026 | 30/09/2026 | US$0.059077 |
| 18/06/2026 | 01/07/2026 | US$0.054854 |
| 19/03/2026 | 01/04/2026 | US$0.021774 |
| 18/12/2025 | 31/12/2025 | US$0.027715 |
| 18/09/2025 | 01/10/2025 | US$0.055796 |
| 19/06/2025 | 02/07/2025 | US$0.05499 |
| 20/03/2025 | 02/04/2025 | US$0.028717 |
| 12/12/2024 | 27/12/2024 | US$0.014363 |

V3MM declares its distributions in US dollars; what reaches an account in pounds depends on the exchange rate the platform uses.

Distributions are not guaranteed: they can rise, fall or stop. Future dates are set and announced by the fund manager. 16 distributions are on record since 15/12/2022.

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +8.51% | +4.67% | income reinvested |
| 3 years | +28.90% | +16.45% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Vanguard ESG Emerging Markets All Cap UCITS ETF USD in pounds (price only, income paid out not included): 2023 −0.2%, 2024 +11.8%, 2025 +14.5%; 2026 to 13/11/2026 +6.0%. Returns of Vanguard ESG Emerging Markets All Cap UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +14.0%; to 30/09/2025: +14.6%; to 30/09/2024: +12.9%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2023 | -0.2% | -4.2% | Price |
| 2024 | +11.8% | +8.0% | Price |
| 2025 | +14.5% | +10.6% | Price |
| 2026 to 13/11/2026 | +6.0% | +2.6% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 15.46% | -10.16% |
| 3 years | 13.70% | -12.87% |

## Largest fall

Volatility of Vanguard ESG Emerging Markets All Cap UCITS ETF USD in pounds, annualised from weekly returns to 13/11/2026: 15.5% over 1 year, 13.7% over 3 years. Largest fall in the price of Vanguard ESG Emerging Markets All Cap UCITS ETF USD since October 2022, in pounds: −12.9% from 21/02/2025 to 11/04/2025. The lowest 12-month return of Vanguard ESG Emerging Markets All Cap UCITS ETF USD in pounds (price only, income paid out not included) since October 2022 was −9.5% (12 months to 02/02/2024); the highest was +36.9% (12 months to 17/04/2026). On 13/11/2026 the price of Vanguard ESG Emerging Markets All Cap UCITS ETF USD was 7.9% below its highest weekly close since October 2022 (19/06/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Vanguard ESG Emerging Markets All Cap UCITS ETF USD 0.19% a year. Compared on 14/11/2026, 115 of the 151 other emerging-market share funds charge more, 8 the same and 28 less (share classes counted once).

## Funds tracking the same index

2 funds track FTSE Emerging All Cap Choice index - Benchmark TR Net, this one included and share classes counted once; their ongoing charges range from 0.19% to 0.19% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Vanguard ESG Emerging Markets All Cap UCITS ETF Accum USD | 0.19% | +8.5% | — | — |
| Vanguard ESG Emerging Markets All Cap UCITS ETF USD (this fund) | 0.19% | +8.5% | +28.9% | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.19%** per year (as of 14/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 31/10/2026, V3MM holds 3,836 positions, according to its published holdings. The largest is TSMC at 18.68% of the fund; the ten largest make up 31.0%.

### Top holdings

Largest positions (as of 31/10/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | TSMC | [2330](https://fundology.uk/stock/2330) | 18.68% |
| 2 | Alibaba Group | [BABA](https://fundology.uk/stock/BABA) | 2.48% |
| 3 | Cash and cash equivalents | — | 2.32% |
| 4 | MediaTek | [2454](https://fundology.uk/stock/2454) | 1.86% |
| 5 | China Construction Bank | [601939](https://fundology.uk/stock/601939) | 1.25% |
| 6 | Hon Hai Precision Industry | [2317](https://fundology.uk/stock/2317) | 0.97% |
| 7 | Industrial and Commercial Bank of China | [601398](https://fundology.uk/stock/601398) | 0.92% |
| 8 | HDFC Bank | [HDFCBANK](https://fundology.uk/stock/HDFCBANK) | 0.88% |
| 9 | Delta Electronics | [2308](https://fundology.uk/stock/2308) | 0.83% |
| 10 | ICICI Bank | [ICICIBANK](https://fundology.uk/stock/ICICIBANK) | 0.83% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

Added up from the fund’s published holdings, as of 30/09/2026.

| Sector | Weight |
|---|---|
| Information Technology | 39.3% |
| Financials | 23.2% |
| Consumer Discretionary | 10.0% |
| Materials | 5.6% |
| Industrials | 5.5% |
| Health Care | 4.6% |
| Communication Services | 3.5% |
| Consumer Staples | 3.3% |
| Other sectors | 3.3% |
| Not classified | 1.1% |

### By country

Added up from the fund’s published holdings, as of 30/09/2026.

| Country | Weight |
|---|---|
| Taiwan | 40.9% |
| Hong Kong | 17.1% |
| India | 13.1% |
| China | 5.5% |
| South Africa | 3.7% |
| Brazil | 2.8% |
| Saudi Arabia | 2.8% |
| Mexico | 1.8% |
| Other countries | 10.5% |
| Not classified | 1.0% |

### By type of asset

Added up from the fund’s published holdings, as of 30/09/2026.

| Type of asset | Weight |
|---|---|
| Equity | 98.2% |
| Cash and money market | 1.0% |

The 1,607 holdings on record (of 3,836 reported): https://fundology.uk/fund/v3mm/holdings

## Questions people ask

**What is the ongoing charge of V3MM?**

The ongoing charge of V3MM is 0.19% a year — about £19 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Vanguard ESG Emerging Markets All Cap UCITS ETF USD 0.19% a year. Compared on 14/11/2026, 115 of the 151 other emerging-market share funds charge more, 8 the same and 28 less (share classes counted once).

**What does V3MM track?**

V3MM tracks the FTSE Emerging All Cap Choice index - Benchmark TR Net — companies in emerging economies such as China, India, Taiwan and Brazil.

**Is V3MM accumulating or distributing?**

V3MM is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.

**When does V3MM pay dividends?**

V3MM pays its income out quarterly. In the 12 months to 14/11/2026 it went ex-dividend on 18/12/2025, 19/03/2026, 18/06/2026 and 17/09/2026. The latest distribution went ex-dividend on 17/09/2026 and was paid on 30/09/2026. Future dates are set and announced by the fund manager; distributions are not guaranteed and can change.

**What is V3MM’s dividend yield?**

V3MM has a distribution yield of 2.00% as at 31/10/2026. In UK fund terms, a distribution yield is the income expected to be paid over the next 12 months as a percentage of the price on that date — an estimate, not a promise. Yields change with the fund’s price and income; a yield describes the fund, not what any investor will receive.

**What is the ISIN of V3MM?**

The ISIN of V3MM is IE0001VXZTV7. An ISIN identifies one exact share class of a fund; V3MM is its ticker on the London Stock Exchange. The same share class is also listed as V3ML (London Stock Exchange, US dollars).

**What does V3MM hold?**

As of 31/10/2026, V3MM holds 3,836 positions, according to its published holdings. The largest is TSMC at 18.68% of the fund; the ten largest make up 31.0%. Its ten largest holdings are TSMC (18.68%), Alibaba Group (2.48%), Cash and cash equivalents (2.32%), MediaTek (1.86%), China Construction Bank (1.25%), Hon Hai Precision Industry (0.97%), Industrial and Commercial Bank of China (0.92%), HDFC Bank (0.88%), Delta Electronics (0.83%) and ICICI Bank (0.83%).

**What were V3MM’s returns in each of the last five years?**

Calendar-year returns of V3MM in pounds (price only, income paid out not included): 2023 −0.2%, 2024 +11.8%, 2025 +14.5%; 2026 to 13/11/2026 +6.0%. Past performance is not a guide to future returns.

**How has V3MM done after inflation?**

Over the three years to 13/11/2026 V3MM’s total return was +28.9%, or +16.5% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at Vanguard](https://www.vanguard.co.uk/professional/product/etf/equity/E039/esg-emerging-markets-all-cap-ucits-etf-usd-distributing)
- [Key investor information document (KIID)](https://fund-docs.vanguard.com/ie0001vxztv7-en.pdf)
- [Factsheet](https://fund-docs.vanguard.com/ESG_Emerging_Markets_All_Cap_UCITS_ETF_USD_Distributing_E039_EU_INT_UK_EN.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.