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of the Fund’s portfolio will be daily maturing assets, reverse repurchase agreements or cash which may be terminated or withdrawn by giving prior notice of one working day.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portfolio will be comprised of weekly maturing assets, reverse repurchase agreements or cash which may be terminated or withdrawn by giving prior notice of five working days and money market instruments or units or shares in other money market funds provided they can be redeemed and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.
Vanguard Asset Management, Ltd.
Global Fixed Income Team
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
-
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
28
—
17 Apr 2026
29.0 Days
—
10 Apr 2026
29.0 Days
—
10 Apr 2026
Net yield
1.95%
—
10 Apr 2026
Yield to maturity
2.01%
—
17 Apr 2026
Market allocation
As at 31 Jan 2026
Country
Region
Fund
Benchmark
Variance +/-
Distribution by credit quality (% of funds)
As at 10 Apr 2026
Credit Rating
Fund
A-1
34.70%
A-1+
61.29%
Cash
3.99%
Total
100.00%
Distribution by credit issuer (% of funds)
As at 10 Apr 2026
Issuers
Fund
Time Deposit
25.58%
Bonds - Sovereign/Supranational/Agency
24.82%
Bonds - Government
21.60%
Repurchase Agreements
19.63%
Commercial Paper
4.35%
Cash
3.99%
Total
100.00%
Distribution by credit maturity (% of funds)
As at 10 Apr 2026
Maturity
Fund
Other
0.02%
Under 1 Week
56.67%
1 Week - 1 Month
7.03%
1 - 3 Months
29.17%
3 - 6 Months
6.34%
6 Months - 1 Year
0.78%
Total
100.00%
Top 10 holdings
As at 17 Apr 2026
Rank
Holding
Country
Maturity
Asset type
% Market Value
1
JP MORGAN SECURITIES PLC
US
20/04/26
Repurchase Agreement
9.87%
2
BNP PARIBAS SA
FR
20/04/26
Repurchase Agreement
9.87%
3
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON BRANCH)
GB
20/04/26
Term Deposit
9.87%
4
ROYAL BANK OF CANADA (LONDON BRANCH)
GB
20/04/26
Term Deposit
9.87%
5
Ireland Government Bond
IE
15/05/26
Government Bond
3.37%
6
Republic of Austria
AT
27/04/26
Commercial Paper
3.17%
7
European Union
SNAT
06/07/26
Government Bond
3.16%
8
Agence Francaise de Developpement EPIC
FR
21/07/26
Government Bond
3.16%
9
Kingdom of Belgium Government Bond
BE
22/06/26
Government Bond
2.77%
10
European Union Bill
SNAT
05/06/26
Government Bond
2.77%
The 10 main holdings represent 57.90% of the market value
Prices and distribution
Prices
NAV Price (EUR)
€15.01
Change
+€0.000.01%
At closure 21 Apr 2026
Market value (EUR)
€15.01
Change
+€0.000.01%
At closure 22 Apr 2026
NAV 52-week high
€15.03
At closure 22 Apr 2026
Market value 52-week high
€15.03
At closure 22 Apr 2026
NAV 52-week low
€15.00
At closure 22 Apr 2026
Market value 52-week low
€15.00
At closure 22 Apr 2026
NAV 52-week difference
€0.03
Change
+0.19%
At closure 22 Apr 2026
Market value 52-week difference
€0.04
Change
+0.24%
At closure 22 Apr 2026
Outstanding shares
1,772,266
At closure 31 Mar 2026
Historical Prices
-
Inception date
09 Dec 2025
Listing date
11 Dec 2025
Date
NAV (EUR)
Market price (EUR)
22 Apr 2026
—
€15.0070
21 Apr 2026
€15.0050
€15.0056
20 Apr 2026
€15.0042
€15.0049
17 Apr 2026
€15.0034
€15.0034
16 Apr 2026
€15.0014
€15.0016
15 Apr 2026
€15.0215
€15.0225
14 Apr 2026
€15.0205
€15.0212
13 Apr 2026
€15.0195
€15.0215
10 Apr 2026
€15.0187
€15.0193
09 Apr 2026
€15.0170
€15.0183
Distribution history
Distribution frequency
Monthly
Historical performance
—
Type
Distribution amount (per unit)
Ex-dividend date
Registration date
Payable date
Income
€0.0216
16 Apr 2026
17 Apr 2026
29 Apr 2026
Income
€0.0233
19 Mar 2026
20 Mar 2026
01 Apr 2026
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
Citi: BXQA7
ISIN: IE000AFVKJZ0
MEX ID: VRAAKZ
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).
As at 31 Mar 2026
As at 14 Apr 2026
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.