VANGUARD GLOBAL WELLINGTON FUND
Aggressive allocation fund
As of its 2026 Q2 report, VANGUARD GLOBAL WELLINGTON FUND held 668 positions with $3.16B in net assets. Its ten largest holdings made up 19.0% of the fund. The VGWAX share class costs 0.3% a year. Over the 12 months to May 2026, VGWAX returned 22.4%, with dividends reinvested. In 2026 Q2 it added 94 new positions and exited 75.
Vanguard Global Wellington Fund (the Fund) seeks to provide long-term capital appreciation and moderate current income.
The fund actively selects undervalued equity securities of large- and mid-size U.S. and foreign companies expected to improve, allocating 60% to 70% of assets to stocks and the remainder to fixed income securities including corporate bonds, government bonds, and mortgage-backed securities across U.S. and foreign markets. The fund may hedge foreign currency exposure through currency exchange forward contracts. Returns depend on the advisor's security selections and the timing of those choices.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 3.09% | $97.74M | — | — |
MSFTMicrosoft Corp | 2.54% | $80.44M | 178.7K | $450.24 |
GOOGLAlphabet Inc | 2.25% | $71.16M | 187.1K | $380.34 |
SSNLFSamsung Electronics Co Ltd | 1.96% | $62.04M | 295.7K | $209.79 |
Taiwan Semiconductor Manufacturing Co Ltd | 1.95% | $61.74M | 833.4K | $74.09 |
1.63% | $51.71M | 435.6K | $118.72 | |
TotalEnergies SE | 1.50% | $47.58M | 542.2K | $87.74 |
1.43% | $45.21M | 375.4K | $120.42 | |
MediaTek Inc | 1.33% | $42.23M | 310.7K | $135.95 |
AstraZeneca PLC | 1.30% | $41.15M | 221.6K | $185.66 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
The 200 largest of 668 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 65.66% |
| Bonds | 27.29% |
| Securitized | 3.57% |
| Cash & short-term | 3.09% |
| Derivatives | -0.02% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- International
- 36.2%
- Government
- 9.7%
- Financials
- 7.4%
- Information Technology
- 7.2%
- 11 other sectors
- 39.5%
- International
- 36.2%
- Government
- 9.7%
- Financials
- 7.4%
- Information Technology
- 7.2%
- Health Care
- 6.5%
- Industrials
- 5.7%
- Other
- 4.7%
- Utilities
- 4.2%
- Communication Services
- 4.0%
- Securitized
- 3.6%
- Cash
- 3.1%
- Consumer Discretionary
- 2.8%
- Energy
- 2.6%
- Consumer Staples
- 2.0%
- Real Estate
- 0.3%
How it has done
VGWAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 9.02%. Past returns are a record, not a forecast.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.30% | +22.45% | +52.17% | +50.43% | -4.94% | |
| 0.43% | +22.30% | +51.53% | +49.43% | -4.95% |
These classes hold the same portfolio, so the 1.00pp spread over 5 years is the cost difference between them — roughly 0.20pp a year — not a difference in what they own.
Fees & fund details
VANGUARD GLOBAL WELLINGTON FUND is an aggressive allocation fund.
- Asset class
- Allocation (multi-asset)
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Aggressive
- Expense ratio, by class
- 0.30% – 0.43%· VGWAX 0.30%
- Portfolio turnover
- 74.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
94 new· the largest 6
75 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 87.1% |
| Floating rate | 12.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.8% |
| 1-3y | 18.6% |
| 3-5y | 18.7% |
| 5-10y | 32.0% |
| 10y+ | 28.9% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 59% |
| Credit spreads | 41% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.20 yr |
| High yield | +0.03 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 1% |
| 1 yr | 0.19 yr | 10% |
| 5 yr | 0.56 yr | 32% |
| 10 yr | 0.69 yr | 39% |
| 30 yr | 0.33 yr | 18% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.12 yr | 10% |
| 5 yr | 0.44 yr | 36% |
| 10 yr | 0.49 yr | 40% |
| 30 yr | 0.17 yr | 14% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | +0.00 | $1.2k | $23 |
| 1 yr | +0.19 | +0.11 | +0.01 | $35.6k | $1.7k |
| 5 yr | +0.56 | +0.43 | +0.01 | $135.6k | $4.7k |
| 10 yr | +0.69 | +0.49 | +0.01 | $153.8k | $2.2k |
| 30 yr | +0.33 | +0.17 | +0.00 | $53.7k | $165 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 1.78 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Understand how this fund fits with the rest.
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