The Fund aims to preserve capital, maintain a high level of liquidity within the Fund’s portfolio of assets and provide a return in line with Euro money market rates. Money invested in the Fund is not protected or guaranteed.
The Fund is a Short-Term Variable NAV Money Market Fund in accordance with the EU Money Market Fund Regulation and will comply with the investment and diversification restrictions set out in the Fund Supplement.
The Fund employs an “active management” strategy in seeking to achieve its objective by investing in securities that are eligible assets according to Article 9 of the EU MMFR . The Fund seeks to primarily invest in high-quality EUR denominated Treasury Bills (short-term securities issued by Governments), Agency and Supranational issued commercial paper (unsecured short-term debt instruments issued by corporations or other entities including public or local authorities), Time Deposits (fixed term investment that gathers interest over the period of its term) and reverse repurchase agreements (instruments under which the Fund acquires ownership of securities from a seller who agrees to repurchase the securities at a mutually agreed date and at an agreed repurchase price).
The Fund may measure its performance against the compounded Euro Short-Term Rate (€STR), the rate published by the European Central Bank, which reflects the wholesale euro unsecured overnight borrowing costs of banks located in the Euro area. The Investment Manager has discretion to select the Fund’s investments and is not restricted to selecting investments from any benchmark.
The securities held by the Fund may be issued or guaranteed by Governments, Government Agencies or Local Authorities (including those that do not participate in the Economic and Monetary Union (EMU)), Supranational bodies or corporate issuers.
The weighted average maturity of the Fund’s portfolio will not exceed 60 days, and the weighted average life of the Fund’s portfolio will not exceed 120 days. At least 7.5% of the Fund’s portfolio will be daily maturing assets, reverse repurchase agreements or cash which may be terminated or withdrawn by giving prior notice of one working day. At least 15% of the Fund’s portfolio will be comprised of weekly maturing assets, reverse repurchase agreements or cash which may be terminated or withdrawn by giving prior notice of five working days and money market instruments or units or shares in other money market funds provided they can be redeemed and settled within five working days (provided such money market instrument or units or shares will only constitute a maximum of 7.5% of the weekly maturing assets).
The Fund will only invest in EUR denominated securities (which may include securities from issuers inside and outside the EMU) that are high credit quality pursuant to the Manager's internal credit quality assessment procedure and with a maturity at issuance or residual term to maturity of 397 days or less.
Information on the Fund's portfolio can be found at https:// www.ie.vanguard/ products. The Indicative Net Asset Value for the Fund is calculated throughout the trading day and is published on Bloomberg or Reuters.
Fund facts
Share class inception
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Listing date
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Investment structure
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Share Class Assets'
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Total Assets
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Risk indicator
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Strategy
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Asset Class
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Domicile
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Tax status
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Investment method
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Index ticker
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Dividend schedule
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Benchmark
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Legal entity
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Investment manager
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The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Performance
Risk and Volatility
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Sorry, this information is not available yet. It will display a year after inception date.
Please note Beta and R-squared data will only display for funds with 3 full years of history.
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Portfolio data
Characteristics
Fundamentals
Fund
Benchmark
As at
Number of issuers
32
—
06 Mar 2026
43.0 Days
—
06 Mar 2026
43.0 Days
—
06 Mar 2026
Net yield
2.02%
—
06 Mar 2026
Yield to maturity
2.02%
—
06 Mar 2026
Market allocation
As at 31 Jan 2026
Country
Region
Fund
Benchmark
Variance +/-
As at 06 Mar 2026
Credit Rating
A-1
27.32%
A-1+
67.47%
Cash
5.11%
Total
100.00%
Distribution by credit issuer (% of funds)
As at 06 Mar 2026
Issuers
Fund
Treasury / Agency
22.02%
Repurchase Agreements
18.78%
Covered Bonds
17.93%
Other
16.11%
Time Deposit
15.65%
Cash
5.11%
Commercial Paper
4.30%
Total
100.00%
Distribution by credit maturity (% of funds)
As at 06 Mar 2026
Maturity
Fund
Other
0.10%
Under 1 Week
53.41%
1 Week - 1 Month
5.74%
1 - 3 Months
27.16%
3 - 6 Months
9.76%
6 Months - 1 Year
3.83%
Total
100.00%
Top 10 holdings
As at 11 Mar 2026
Rank
Holding
Country
Maturity
Asset type
% Market Value
1
BNP PARIBAS SA
US
12/03/26
Repurchase Agreement
9.87%
2
JP MORGAN SECURITIES PLC
FR
12/03/26
Repurchase Agreement
9.87%
3
ROYAL BANK OF CANADA (LONDON BRANCH)
GB
12/03/26
Money Market
9.87%
4
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON BRANCH)
GB
12/03/26
Money Market
9.87%
5
European Investment Bank
SNAT
13/03/26
3.80%
6
Republic of Austria Government Bond
AT
15/03/26
Government Bond
3.25%
7
Ireland Government Bond
IE
15/05/26
Government Bond
3.25%
8
Svensk Exportkredit AB
SE
13/04/26
Government Bond
2.71%
9
Landwirtschaftliche Rentenbank
DE
16/03/26
2.71%
10
Agence Centrale des Organismes de Securite Sociale
FR
06/05/26
Commercial Paper
2.70%
The 10 main holdings represent 57.90% of the market value
Prices and distribution
Prices
NAV Price (EUR)
€15.02
Change
+€0.000.01%
At closure 12 Mar 2026
Market value (EUR)
€15.02
Change
+€0.000.00%
At closure 12 Mar 2026
NAV 52-week high
€15.03
At closure 13 Mar 2026
Market value 52-week high
€15.03
At closure 13 Mar 2026
NAV 52-week low
€15.00
At closure 13 Mar 2026
Market value 52-week low
€15.00
At closure 13 Mar 2026
NAV 52-week difference
€0.03
Change
+0.19%
At closure 13 Mar 2026
Market value 52-week difference
€0.04
Change
+0.24%
At closure 13 Mar 2026
Outstanding shares
1,373,736
At closure 28 Feb 2026
Historical Prices
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Inception date
09 Dec 2025
Listing date
11 Dec 2025
Date
NAV (EUR)
Market price (EUR)
12 Mar 2026
€15.0187
€15.0220
11 Mar 2026
€15.0176
€15.0216
10 Mar 2026
€15.0170
€15.0209
09 Mar 2026
€15.0160
€15.0211
06 Mar 2026
€15.0155
€15.0188
05 Mar 2026
€15.0140
€15.0171
04 Mar 2026
€15.0131
€15.0162
03 Mar 2026
€15.0122
€15.0167
02 Mar 2026
€15.0115
€15.0140
27 Feb 2026
€15.0103
€15.0130
Distribution history
Distribution frequency
Monthly
Historical performance
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Type
Distribution amount (per unit)
Ex-dividend date
Registration date
Payable date
Income
€0.0273
19 Feb 2026
20 Feb 2026
04 Mar 2026
Income
€0.0272
15 Jan 2026
16 Jan 2026
28 Jan 2026
Purchase information
Currencies and stock exchanges
Listed currencies: EUR
Base currency: EUR
Exchanges: Deutsche Boerse, Borsa Italiana S.p.A., NYSE Euronext - Amsterdam
Fund codes
Ticker iNav Bloomberg: IVCASEUR
Bloomberg: VCAS GY
Citi: BXQA7
Exchange ticker: VCAS
ISIN: IE000AFVKJZ0
MEX ID: VRAAKZ
Reuters: VCAS.DE
SEDOL: BVZL2J7
Ticker iNav Bloomberg: IVCASHEUR
Bloomberg: VCASH NA
Exchange ticker: VCASH
ISIN: IE000AFVKJZ0
Reuters: VCASH.AS
SEDOL: BTKTL62
Ticker iNav Bloomberg: IVCASHEUR
Exchange ticker: VCASH
Bloomberg: VCASH IM
ISIN: IE000AFVKJZ0
Reuters: VCASH.MI
SEDOL: BTKTL28
Ticker iNav Bloomberg: IVCASEUR
Bloomberg: VCAS GY
Exchange ticker: VCAS
ISIN: IE000AFVKJZ0
Reuters: VCAS.DE
SEDOL: BVZL2J7
The sum of investment management fees (the fees paid to the portfolio manager to invest your money and manage the fund) and administrative and other expenses (which cover all costs and expenses connected with the operation of the fund, which includes administrative fees, shareholder's registration and transfer agency fees, custody fees and all other operating expenses).
Weighted average life (WAL) of an amortizing loan or amortising bond, also called average life, is the weighted average of the times of the principal repayments: it's the average time until a dollar of principal is repaid.
Weighted average maturity (WAM) is the weighted average amount of time until the maturities on mortgages in a mortgage-backed security (MBS). This term is used more broadly to describe maturities in a portfolio of debt securities, including corporate debt and municipal bonds.