Vanguard just launched an ETF version of one of its most popular mutual funds. The new Vanguard FTSE Global All-Cap UCITS ETF gives instant global diversification — investing in over 7,000 companies, large to small, across developed and emerging markets — for an ongoing charge of just 0.07%.
How is the new Vanguard Global All-Cap ETF different to the popular Vanguard FTSE All-World ETF?
Here’s what Vanguard said in its own words:
“FTSE All-World ETF focuses on large and medium-sized companies, whereas the new FTSE Global All-Cap ETF also includes smaller businesses, helping investors spread their money across more of the global market.”
What is the objective of the new Vanguard Global All-Cap UCITS ETF?
The fund aims to track the FTSE Global All Cap Index by physically buying the underlying shares — large, medium and small companies across developed and emerging markets, weighted by size — rather than using derivatives to replicate it synthetically.
It holds a representative sample rather than every constituent, to keep costs down, and stays fully invested.
Vanguard FTSE Global All Cap: ETF vs Fund — what’s the difference?
Vanguard already runs a similar traditional fund (OEIC), priced at 0.23% — over three times the new ETF’s 0.07%.
The fund is priced once a day and dealt through the fund manager, while the ETF trades all day on an exchange like a share, with a live price.
Which wrapper is cheaper also depends on the platform. Here are some common examples:
- Hargreaves Lansdown — Fund: 0.35% (tiered, falling to 0% above £2m) — ETF: 0.35%, capped at £12.50/month
- AJ Bell — Fund: 0.10%, uncapped — ETF: 0.25%, capped at £3.50/month
- InvestEngine (DIY) — Fund: not offered — ETF: 0%
On InvestEngine that trade-off doesn’t exist — we only offer ETFs, with no platform fee at all, so 0.07% is always the full cost.
Just remember though, we’re all about long-term investing so our trading is all done within a single aggregated window. That means we combine orders for any given ETF and invest all at once. This process keeps costs down.
Want to buy the new Vanguard ETF? Don’t forget about platform fees
The new Vanguard FTSE Global All-Cap UCITS ETF has a very competitive ETF fee (often called a total expense ratio) of 0.07%. But not everyone will get it for that low.
It depends on who you invest with.
With InvestEngine you’ll only pay 0.07% as we don’t charge any platform fees.
However, if you invest directly with Vanguard, it charges its own account fee on top of the fund: £4 a month (£48 a year) on balances under £32,000, or 0.15% a year (capped at £375) above that.
Add that to the ETF’s 0.07%, and the ‘cheapest global ETF’ quietly gets a lot less cheap.
| Portfolio size | Via Vanguard’s own platform | Via InvestEngine (DIY) |
|---|---|---|
| £10,000 invested | £55/yr (0.55%) | £7/yr (0.07%) |
| £50,000 invested | £110/yr (0.22%) | £35/yr (0.07%) |
Figures above are illustrative, based on competitor’s published fee schedules as of 21 August 2026, and exclude market spread and fund-level trading costs. Platform costs vary depending on the provider and wrapper chosen.
Important information
Capital at risk. The value of your investments may go down as well as up, and you may get back less than you invest. Past performance is not indicative of future performance. ETF costs apply. If in doubt, you may wish to consult a professional adviser for guidance.