Key Highlights

  • VLC tracks an index of large Australian companies that aims to cover about 70% of the market's free float-adjusted capitalisation.
  • Financial services make up about 46% of the fund, and BHP is its largest single holding at about 20%.
  • Management fees are 0.20% a year, with an interim distribution of A$1.308 and an annual Yield of 3.35%.
  • The fund traded at A$91.06 in the 5 November 2026 session, up 1.59%.

The Vanguard MSCI Australian Large Companies Index ETF (ASX:VLC) provides exposure to the largest listed companies in Australia through a single trade. The fund is designed to track an index that targets around 70% of the Australian market's free float-adjusted capitalisation. It traded at A$91.06 during the 5 November 2026 session, up 1.59%, while the S&P/ASX 200 was up 1.87%.

Fund detail

Information

Share price (5 Nov 2026 session)

A$91.06, up 1.59%

Fund size

A$308.23 million

Management fees and costs

0.20% a year

Annual yield

3.35%

Last distribution

A$1.308 interim, ex-date 1 October 2026

Number of holdings

19 companies

Benchmark

MSCI Australia Large cap GR USD

Admitted to ASX

26 May 2011

What the fund is

VLC is an exchange-traded fund listed on the ASX that aims to track an index of large Australian companies. Units trade on the exchange during trading hours and are bought and sold in the same way as shares. The unit price reflects the value of the underlying holdings and the balance of buyers and sellers in the market.

The fund is a passive, index-based product. Rather than selecting companies, it holds the companies in its index in approximately the index weights, so its results are designed to follow the index rather than outperform it.

How the portfolio is built

The index targets large companies that together represent around 70% of the free float-adjusted value of the Australian share market. Because the index is weighted by market capitalisation, the largest companies carry the greatest weight in the fund.

In practice, the portfolio is concentrated. Financial services make up about 46% of the fund, and basic materials about 26%. BHP is the largest holding at about 20%, followed by Commonwealth Bank at about 17%, National Australia Bank at about 8%, Westpac at about 8% and ANZ at about 8%. Together, the top five positions account for a large share of the fund.

Income and costs

The most recent distribution was an interim payment of A$1.308, with an ex-date of 1 October 2026 and payment on 16 October 2026. The annual yield is 3.35%. Yield is calculated from recent distributions relative to the unit price, so it can change as the price moves and as future distributions change.

Management fees and costs are 0.20% a year. Fees are charged to the fund and reduce the return investors receive over time. For an index fund, a low fee is one of the main factors that separates similar products.

What to understand before investing

Because VLC's weights are concentrated in banks and miners, its performance is closely tied to those sectors. When banks or resources companies move sharply, the fund can move by a similar amount, which may be more than a fund with broader sector exposure.

Like all share funds, VLC carries market risk. Its unit price can fall as well as rise, and past results are not a reliable indicator of future returns. Investors should consider how the fund fits with their other holdings, including any existing exposure to the same large companies.

Final Word

VLC is a low-cost, index-based way to hold Australia's largest listed companies. Its concentration in banks and miners is the defining feature, and investors who want a broader spread may look at funds with wider sector exposure.