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 FTSE 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 FTSE 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.
How to buy the new Vanguard FTSE Global All-Cap UCITS ETF
The Vanguard FTSE Global All-Cap UCITS ETF is now live and available to buy on InvestEngine.
You can invest through an ISA, SIPP, general investment account, or business account — all with no platform fees on DIY portfolios.
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.
Top Vanguard ETFs for 2026: Top Funds for UK Investors
Thinking of buying 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.
InvestEngine versus Vanguard — how do they compare
Vanguard FTSE Global All-Cap ETF (VALL): frequently asked questions
What is the Vanguard FTSE Global All-Cap UCITS ETF (VALL)?
VALL is a passive index tracker from Vanguard that charges an ongoing charge figure (OCF) of just 0.07% a year. It tracks the FTSE Global All Cap Index, which — unlike most ‘global’ trackers — includes small-cap companies as well as large and mid-caps, across both developed and emerging markets. It’s available to buy on InvestEngine within a Stocks and Shares ISA, SIPP, or general investment account.
How does VALL differ from Vanguard’s FTSE All-World ETF (VWRP)?
The main difference is coverage and cost. VWRP tracks large and mid-cap companies only — InvestEngine lists over 4,000 holdings — with an OCF of 0.14%. VALL adds thousands of companies on top of that, including small-cap stocks, and costs half as much to hold. VALL itself only started trading as an ETF in August 2026, though it tracks the same FTSE Global All Cap Index that Vanguard’s mutual fund version has run since 2016, with around £10bn in assets across that fund today.
How much does it cost to invest in VALL through InvestEngine?
VALL’s own annual charge is 0.07%, set by Vanguard and taken from within the fund — it isn’t an InvestEngine fee. InvestEngine doesn’t charge a platform fee on DIY portfolios, so that 0.07% is the only ongoing cost investors pay to hold it here.
How do I buy VALL on InvestEngine?
Search “VALL” or “Vanguard FTSE Global All-Cap” within a DIY portfolio on InvestEngine, then add it like any other ETF — it can go into a Stocks and Shares ISA, SIPP, or general investment account. As with any investment, the value of VALL can go down as well as up, and this isn’t personal advice.
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.