VANGUARD GLOBAL WELLINGTON FUND
VANGUARD WORLD FUND · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2026 Q2
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.
| Share class | Expense ratio |
|---|---|
| VGWAX | 0.30% |
| VGWLX | 0.43% |
Portfolio turnover 74.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| 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.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 36.2% |
| Government | 9.7% |
| Financials | 7.5% |
| Information Technology | 7.2% |
| 11 smaller | 39.5% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: DVN, Bundesrepublik Deutschland Bundesanleihe, United States Treasury Note/Bond ×3, Maple Parent Holdings Corp, T-Mobile USA Inc, United States Treasury Inflation Indexed Bonds
Largest exited: Coterra Energy Inc, Diageo PLC, United States Treasury Note/Bond, Intesa Sanpaolo SpA, Morgan Stanley, Citizens Financial Group Inc, UniCredit SpA, Fannie Mae Pool
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +22.87% | +45.31% | +50.00% | 9.06% | -4.94% | |
| +22.68% | +44.69% | +49.04% | 9.08% | -4.95% |
These classes hold the same portfolio, so the 0.96pp spread over 5 years is the cost difference between them — roughly 0.19pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 3.09% | — | $97.74M | — |
| MSFT | Microsoft CorpMSFT | 2.54% | $450.24 | $80.44M | 178.7K |
| GOOGL | Alphabet IncGOOGL | 2.25% | $380.34 | $71.16M | 187.1K |
| SSNLF | Samsung Electronics Co LtdSSNLF | 1.96% | $209.79 | $62.04M | 295.7K |
| — | Taiwan Semiconductor Manufacturing Co Ltd | 1.95% | $74.09 | $61.74M | 833.4K |
| MRK | Merck & Co IncMRK | 1.63% | $118.72 | $51.71M | 435.6K |
| — | TotalEnergies SE | 1.50% | $87.74 | $47.58M | 542.2K |
| CSCO | Cisco Systems IncCSCO | 1.43% | $120.42 | $45.21M | 375.4K |
| — | MediaTek Inc | 1.33% | $135.95 | $42.23M | 310.7K |
| — | AstraZeneca PLC | 1.30% | $185.66 | $41.15M | 221.6K |
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.
Top 10 positions are 18.99% of net assets, top 25 34.31%, across 312 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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