Fund Evaluator:
Vanguard International Core Stock Adm (VZICX)
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Best Performing in Foreign Large Blend Over the Last Year
| 38.7% | AB International Strat Eqs Z (STEZX) |
| 31.6% | Vanguard International Core Stock Adm (VZICX) |
| 31.4% | Vanguard International Core Stock Inv (VWICX) |
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Fund Details
Vanguard International Core Stock Adm Overview
Vanguard International Core Stock Adm (VZICX) is an actively managed International Equity Foreign Large Blend fund. Vanguard launched the fund in 2019.
The investment seeks to provide long-term capital appreciation. The fund invests predominantly in the stocks of companies located outside the United States that its advisor believes offer a good balance between reasonable valuations and attractive growth prospects relative to their peers. The advisor expects to diversify its assets in countries across developed and emerging markets. In selecting stocks, the fund's advisor evaluates foreign markets around the world and chooses large- and mid-capitalization companies based on its assessment of each company's management teams, capital allocation, and competitive advantage.
About Vanguard International Core Stock Adm (VZICX)
There are 2 members of the management team with an average tenure of 4.91 years: Anna Lunden (2023), F. Halsey Morris (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI ACWI Ex USA NR USD index with a weighting of 100%. Vanguard International Core Stock Adm has 121 securities in its portfolio. The top 10 holdings constitute 21.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Vanguard International Core Stock Adm is part of the Equity global asset class and is within the International Equity fund group. Vanguard International Core Stock Adm has 95.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.0%. There is 95.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Vanguard International Core Stock Adm has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $7 billion in total assets, which is above the $2 billion average for the Foreign Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VZICX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Vanguard International Core Stock Adm expense ratio is below average compared to funds in the Foreign Large Blend category. Vanguard International Core Stock Adm has an expense ratio of 0.38%, which is 60% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Vanguard International Core Stock Adm has a portfolio turnover rate of 87%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 61% for the Foreign Large Blend category.
Recently, in the month of June 2026, Vanguard International Core Stock Adm returned 1.0%, which earned it a grade of B, as the Foreign Large Blend category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Vanguard International Core Stock Adm has a trailing yield of 1.20%, which is below the 2.19% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Vanguard International Core Stock Adm Grades
Year to date, the fund has returned 14.7%, 3.8 percentage points better than the category, which translates into a grade of A. The fund has returned 31.6% over the past year (grade of A), 22.5% over the past three years (grade of A) and 12.3% per year over the past five years (grade of A).
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VZICX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VZICX Return (NAV) | 1.0% | 11.6% | 31.6% | 22.5% | 12.3% | na |
| VZICX Grade | B | B | A | A | A | na |
| +/- Category | 0.5% | 1.0% | 10.3% | 5.8% | 4.1% | na |
| Foreign Large Blend Avg | 0.5% | 10.6% | 21.3% | 16.7% | 8.2% | 9.5% |
| VZICX Tax Cost Ratio | na | na | 1.2% | 0.8% | 0.8% | na |
VZICX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VZICX Return (NAV) | 14.7% | 38.5% | 8.7% | 14.4% | -10.7% | 11.9% | 9.2% | na | na | na | na |
| VZICX Grade | A | A | A | D | A | B | C | na | na | na | na |
| +/- Category | 3.8% | 8.0% | 3.9% | -1.8% | 5.7% | 1.7% | -2.5% | na | na | na | na |
| Foreign Large Blend Avg | 10.9% | 30.5% | 4.9% | 16.2% | -16.4% | 10.2% | 11.8% | 22.9% | -15.2% | 26.4% | 1.0% |
| Risk Measures | |
| Standard Deviation: | 12.0% |
| Total Risk Index: | 0.99 - Average |
| Category Risk Index: | 0.93 - Low |
| Category Risk Grade: | A (10% Rank) |
| Beta: | 0.84 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $9292 Mil |
| Fund Total Assets: | $7,221 Mil |
| Share Class Type: | ADM |
| Portfolio Turnover: | 87% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 6.7 years | |||
| Average Tenure: 4.9 years | |||
| Managers (Year): Morris F. Halsey (2019), Lunden Anna (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 121 |
| % in Top 10 Holdings: | 21.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 95.8% |
Portfolio Allocation |
|
| Domestic Stock: | 2.0% |
| Foreign Stock: | 95.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | October 16, 2019 |
| Min. Initial Purchase: | $50,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.38% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Vanguard International Core Stock Adm |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
