Highlights

  • VAP provides listed property exposure through the S&P/ASX 300 A-REIT Index.
  • Goodman Group represented 37.14%, followed by Scentre Group at 12.21%.
  • The portfolio contained 31 reported holdings, with the ten largest representing 86.56%.
  • Management fees and costs were listed at 0.22%.

Vanguard Australian Property Securities index ETF (ASX:VAP) provides exposure to securities in the S&P/ASX 300 A-REIT Index. The fund holds, or obtains exposure to, most benchmark securities while allowing individual weights to vary marginally. On 6 November 2026, VAP’s quoted last price was AUD 89.54, down 0.56% during the session. Its allocation is concentrated in listed property, with Goodman Group carrying a substantially larger weight than any other position.

An index mandate within listed real estate

The fund’s Investment approach permits exposure to securities removed from, or expected to enter, the index. It can also hold securities outside the benchmark where these provide exposure to current or prospective constituents in unitholders’ interests. This creates some implementation flexibility around index membership.

The sector classification was entirely real estate. Equities accounted for 99.31% of assets, with 0.09% cash and 0.60% other assets. Geographic exposure was reported as entirely Australian. Listed property securities can nevertheless represent groups with Assets or activities in several markets, so the geographic label does not describe every underlying building or Revenue source.

Goodman and Scentre shape the leading exposure

Goodman Group was weighted at 37.14% and Scentre Group at 12.21%. Stockland followed at 7.00%, Vicinity Centres at 6.22%, Charter Hall at 5.96% and GPT Group at 5.85%. Mirvac, Dexus, Region Group and BWP Group completed the ten largest positions.

Those positions represented 86.56% of the portfolio. Although 31 holdings were reported, the allocation is heavily influenced by its largest issuers. Company count and weight distribution therefore describe different aspects of diversification. A large Goodman allocation means developments affecting that Business can have a substantial influence alongside wider movements across property securities.

Market size costs and underlying property risks

Companies above AUD 1 billion represented 87.16% of the Market Capitalisation breakdown. The remaining 12.84% was in the AUD 500 million to AUD 1 billion band. The portfolio is consequently focused on larger listed property businesses.

Underlying property income can be affected by occupancy, rents and tenant conditions. Financing costs, refinancing access and valuation changes can also influence securities prices. Index exposure spreads ownership across several groups but leaves both sector risk and the concentration created by the leading weights.

Management fees and costs were listed at 0.22%. Fund size was AUD 2.96 billion. A distribution of AUD 0.348 per unit had an ex-distribution date of 1 October 2026, a Record Date of 2 October 2026 and a payment date of 16 October 2026. Distribution amounts can change and do not represent a fixed payment commitment.

Key Insights

VAP offers benchmark based Australian listed property exposure with a sizeable Goodman position. Its breadth across reported holdings coexists with a high allocation to the ten largest issuers, making company weights central to understanding the fund.