Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) Performance
VSS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +5.0% since Dec 31, 2025
- 1 year
- +7.4% total return
- 5 years
- +4.6% a year
- 10 years
- +7.3% a year
- Since first price
- +9.1% a year since 2009
VSS trailing returns vs SPY, QQQ, AGG
| Period | VSS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.9% | −4.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.6% | −0.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −3.4% | −4.2% | +7.8% | +8.4% | −1.5% |
| YTD | +5.0% | +4.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.4% | +4.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +62.7%+17.6%/yr | +48.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +25.4%+4.6%/yr | +7.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +101.9%+7.3%/yr | +52.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +174.7%+7.0%/yr | +77.1% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionApr 6, 2009 | +361.7%+9.1%/yr | +183.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: VSS vs SPY
From Apr 6, 2009: VSS grew to $46,166, SPY to $124,051.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VSS returns by calendar year
11 of 16 full years positive. Best 2017 (+30.6%), worst 2022 (−21.5%). 2026 is year to date.
VSS annual returns table
| Year | VSS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +5.0% | −11.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +29.6% | −13.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +2.9% | −8.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +15.6% | −13.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −21.5% | −31.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +13.0% | −7.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +11.8% | −39.8% | +18.3% | +48.6% | +7.5% |
| 2019 | +21.4% | −8.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −18.5% | −26.4% | −4.6% | −0.1% | +0.1% |
| 2017 | +30.6% | −2.7% | +21.7% | +32.7% | +3.6% |
| 2016 | +4.2% | −11.1% | +12.0% | +7.1% | +2.4% |
| 2015 | −0.0% | −17.4% | +1.2% | +9.4% | +0.5% |
| 2014 | −5.1% | −16.3% | +13.5% | +19.2% | +6.0% |
| 2013 | +16.6% | −10.8% | +32.3% | +36.6% | −2.0% |
| 2012 | +20.7% | −16.1% | +16.0% | +18.1% | +3.8% |
| 2011 | −19.6% | −29.1% | +1.9% | +3.4% | +7.7% |
| 2010 | +25.6% | −18.5% | +15.1% | +19.9% | +6.4% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
VSS largest drawdowns
Now 7.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | −43.5% | Mar 23, 2020 | Dec 3, 2020 | 2.2 years | 2.9 years |
| Sep 3, 2021 | −33.9% | Oct 14, 2022 | May 23, 2025 | 1.1 years | 3.7 years |
| Apr 29, 2011 | −29.1% | Oct 3, 2011 | Sep 18, 2013 | 5 months | 2.4 years |
| Jul 3, 2014 | −24.2% | Feb 11, 2016 | Apr 25, 2017 | 1.6 years | 2.8 years |
| Apr 14, 2010 | −18.5% | May 26, 2010 | Sep 20, 2010 | 42 days | 5 months |
| Jan 14, 2010 | −12.5% | Feb 8, 2010 | Apr 1, 2010 | 25 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
VSS risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | +17.1% | +6.2% | +7.6% | +8.9% |
| Volatility (annualized) | 14.2% | 16.7% | 16.9% | 17.3% |
| Sharpe ratio | 0.88 | 0.23 | 0.38 | 0.51 |
| Sortino ratio | 1.52 | 0.33 | 0.54 | 0.77 |
| Best month | +9.4% | +11.3% | +13.1% | +16.8% |
| Worst month | −8.9% | −10.8% | −20.6% | −20.6% |
| Best 12 months | +43.8% | +43.8% | +67.3% | +67.3% |
| Worst 12 months | +2.3% | −28.9% | −28.9% | −28.9% |
| Positive months | 67% | 60% | 63% | 58% |
| Beta vs S&P 500 | 0.77 | 0.86 | 0.94 | — |
| Correlation with S&P 500 | 0.68 | 0.81 | 0.85 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
VSS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 199 | −28.9% | +9.7% | +67.3% | 67% |
| 3-year (a year) | 175 | −5.9% | +6.0% | +19.1% | 87% |
| 5-year (a year) | 151 | −1.9% | +5.9% | +16.8% | 96% |
| 10-year (a year) | 91 | +2.0% | +5.2% | +9.4% | 100% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
VSS performance overview
Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) returned +7.4% over the past year and +7.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned +9.1% a year, turning $10,000 into about $46,166. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −43.5%, from Jan 26, 2018 to Mar 23, 2020, and it took 8 months to get back to the old high. VSS finished 11 of its 16 full calendar years with a gain; the best year was 2017 (+30.6%) and the worst 2022 (−21.5%). Volatility has been 17.3% a year.
Related: VSS chart, VSS holdings, VSS dividends. See the VSS overview for the latest quote and fund facts.
VSS performance FAQ
What is the VSS return over the past year?
VSS returned +7.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.1%.
What is the average annual return of VSS?
VSS has returned +4.6% a year over 5 years, +7.3% a year over 10 years, +9.1% a year since April 6, 2009 (total return, distributions reinvested).
How much would $10,000 invested in VSS be worth?
$10,000 invested in VSS at its first recorded close on April 6, 2009 would be worth about $46,166 on October 23, 2026 with distributions reinvested.
What was the worst year for VSS?
The worst calendar year was 2022, with a total return of −21.5%. The best was 2017 at +30.6%.
What is the biggest drawdown of VSS?
The largest peak-to-trough decline was −43.5% between January 26, 2018 and March 23, 2020. It recovered to the old high on December 3, 2020, 8 months after the bottom.
How volatile is VSS?
Over the past 3 years VSS had an annualized volatility of 14.2% and a Sharpe ratio of 0.88 (excess return over 1–3 month T-bills per unit of risk).