# Vanguard ESG North America All Cap UCITS ETF USD (V3NM)

**Source:** https://fundology.uk/fund/v3nm · ISIN IE000L2ZNB07 · Data: TradingView (LSE closes and returns, delayed), issuer documents and holdings (Vanguard), ONS CPIH, FCA FIRDS

## 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 01/10/2026, V3NM (Vanguard ESG North America All Cap UCITS ETF USD, ISIN IE000L2ZNB07) closed at £6.66 on the London Stock Exchange. Its ongoing charge is 0.12% a year (about £12 on £10,000). Over the three years to 01/10/2026 its total return was +24.5%, or +12.4% after UK CPIH inflation.

## Summary

Vanguard ESG North America All Cap UCITS ETF USD is an exchange-traded fund (ETF) from Vanguard, launched in 2022. It tracks the FTSE North America All Cap Choice Index - Benchmark TR Gross. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.12% a year — about £12 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: **£6.66** (01/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | V3NM |
| ISIN | IE000L2ZNB07 |
| Category | US shares |
| Type | ETF |
| Provider | Vanguard |
| Tracks | FTSE North America All Cap Choice Index - Benchmark TR Gross |
| Income | Distributing |
| Ongoing charge | 0.12% a year (£12 per £10,000) |
| Fund size | £19.4m |
| Launched | 2022 |
| Domicile | Ireland |

## Past returns (periods to 01/10/2026)

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

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +17.17% | +13.49% | income reinvested |
| 3 years | +24.51% | +12.35% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Vanguard ESG North America All Cap UCITS ETF USD in pounds (price only, income paid out not included): 2023 +22.2%, 2024 +25.7%, 2025 +7.5%; 2026 to 01/10/2026 +12.8%. Returns of Vanguard ESG North America All Cap UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +17.7%; to 30/09/2025: +15.4%; to 30/09/2024: +22.1%; to 30/09/2023: +6.9%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2023 | +22.2% | +17.3% | Price |
| 2024 | +25.7% | +21.4% | Price |
| 2025 | +7.5% | +3.8% | Price |
| 2026 to 01/10/2026 | +12.8% | +9.7% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.01% | -10.31% |
| 3 years | 13.82% | -20.59% |

## Largest fall

Volatility of Vanguard ESG North America All Cap UCITS ETF USD in pounds, annualised from weekly returns to 01/10/2026: 13.0% over 1 year, 13.8% over 3 years. Largest fall in the price of Vanguard ESG North America All Cap UCITS ETF USD since August 2022, in pounds: −20.6% from 31/01/2025 to 18/04/2025. The lowest 12-month return of Vanguard ESG North America All Cap UCITS ETF USD in pounds (price only, income paid out not included) since August 2022 was −5.3% (12 months to 18/08/2023); the highest was +32.7% (12 months to 25/10/2024). On 01/10/2026 the price of Vanguard ESG North America All Cap UCITS ETF USD was 1.0% below its highest weekly close since August 2022 (25/09/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Vanguard ESG North America All Cap UCITS ETF USD 0.12% a year, as of 02/10/2026: 137 of the 208 other US share funds charge more, 5 the same and 66 less (share classes counted once).

## Funds tracking the same index

2 funds track FTSE North America All Cap Choice Index - Benchmark TR Gross, this one included and share classes counted once; their ongoing charges range from 0.12% to 0.12% a year (01/10/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Vanguard ESG North America All Cap UCITS ETF USD (this fund) | 0.12% | +17.2% | +24.5% | — |
| Vanguard ESG North America All Cap UCITS ETF USD | 0.12% | +17.2% | +24.6% | — |

Returns are the data vendor’s, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.12%** per year
- ISA eligible: yes
- SIPP eligible: yes

## What it holds

As of 31/08/2026, V3NM holds 1,388 positions, according to the holdings Vanguard publishes. The largest is NVIDIA at 8.27% of the fund; the ten largest make up 41.2%.

### Top holdings

Largest positions (as of 31/08/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | NVIDIA | [NVDA](https://fundology.uk/stock/NVDA) | 8.27% |
| 2 | Apple | [AAPL](https://fundology.uk/stock/AAPL) | 7.35% |
| 3 | Microsoft | [MSFT](https://fundology.uk/stock/MSFT) | 6.05% |
| 4 | Alphabet | [GOOG](https://fundology.uk/stock/GOOG) | 5.73% |
| 5 | Amazon | [AMZN](https://fundology.uk/stock/AMZN) | 4.04% |
| 6 | Broadcom | [AVGO](https://fundology.uk/stock/AVGO) | 2.77% |
| 7 | Meta Platforms | [META](https://fundology.uk/stock/META) | 2.02% |
| 8 | Micron Technology | [MU](https://fundology.uk/stock/MU) | 1.73% |
| 9 | Tesla | [TSLA](https://fundology.uk/stock/TSLA) | 1.73% |
| 10 | JP Morgan Chase | [JPM](https://fundology.uk/stock/JPM) | 1.53% |

Source: Vanguard, holdings as published, as of 31/08/2026.

## Where it invests

Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed.

### By sector

Added up from the holdings Vanguard publishes, as of 31/08/2026.

| Sector | Weight |
|---|---|
| Information Technology | 40.4% |
| Financials | 13.9% |
| Consumer Discretionary | 10.7% |
| Communication Services | 10.6% |
| Health Care | 10.2% |
| Industrials | 4.8% |
| Consumer Staples | 3.6% |
| Materials | 2.7% |
| Other sectors | 2.7% |
| Not classified | 0.2% |

### By country

Added up from the holdings Vanguard publishes, as of 31/08/2026.

| Country | Weight |
|---|---|
| United States | 96.1% |
| Canada | 3.6% |
| Not classified | 0.2% |

### By type of asset

Added up from the holdings Vanguard publishes, as of 31/08/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.7% |
| Cash and money market | 0.2% |

The 1,044 holdings on record (of 1,388 Vanguard reports): https://fundology.uk/fund/v3nm/holdings

## Questions people ask

**What is the ongoing charge of V3NM?**

The ongoing charge of V3NM is 0.12% a year — about £12 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 North America All Cap UCITS ETF USD 0.12% a year, as of 02/10/2026: 137 of the 208 other US share funds charge more, 5 the same and 66 less (share classes counted once).

**What does V3NM track?**

V3NM tracks the FTSE North America All Cap Choice Index - Benchmark TR Gross.

**Is V3NM accumulating or distributing?**

V3NM is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.

**What is the ISIN of V3NM?**

The ISIN of V3NM is IE000L2ZNB07. An ISIN identifies one exact share class of a fund; V3NM is its ticker on the London Stock Exchange.

**What does V3NM hold?**

As of 31/08/2026, V3NM holds 1,388 positions, according to the holdings Vanguard publishes. The largest is NVIDIA at 8.27% of the fund; the ten largest make up 41.2%. Its ten largest holdings are NVIDIA (8.27%), Apple (7.35%), Microsoft (6.05%), Alphabet (5.73%), Amazon (4.04%), Broadcom (2.77%), Meta Platforms (2.02%), Micron Technology (1.73%), Tesla (1.73%) and JP Morgan Chase (1.53%).

**What were V3NM’s returns in each of the last five years?**

Calendar-year returns of V3NM in pounds (price only, income paid out not included): 2023 +22.2%, 2024 +25.7%, 2025 +7.5%; 2026 to 01/10/2026 +12.8%. Past performance is not a guide to future returns.

**How has V3NM done after inflation?**

Over the three years to 01/10/2026 V3NM’s total return was +24.5%, or +12.4% after UK CPIH inflation. Past performance is not a guide to future returns.

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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.