The Vanguard FTSE All World ex-US ETF (Ticker: VEU) seeks investment results that correspond generally to the performance, before fees and expenses, of the FTSE All World ex-US Index. The index is a free float adjusted market capitalization weighted index that includes approximately 2,200 stocks of companies in 47 countries from both developed and emerging markets around the world. US domiciled companies are excluded. Currently the index is heavily weighted to European countries. The fund manager uses statistical methods to sample the index, aiming to closely track its investment performance. Currencies are not hedged.