Vanguard International Equity Index Funds - Vanguard FTSE All-World ex-US Small-Cap ETF
US ˙ ARCA ˙ US9220427184

SecurityVSS / Vanguard International Equity Index Funds - Vanguard FTSE All-World ex-US Small-Cap ETF
InstitutionValmark Advisers, Inc.
Latest Disclosed Ownership73,365 shares
Latest Disclosed Value $ 10,695,915
Valmark Advisers, Inc. reports 3.38% increase in ownership of VSS / Vanguard International Equity Index Funds - Vanguard FTSE All-World ex-US Small-Cap ETF

On May 1, 2026 - Valmark Advisers, Inc. filed a 13F-HR form disclosing ownership of 73,365 shares of Vanguard International Equity Index Funds - Vanguard FTSE All-World ex-US Small-Cap ETF (US:VSS) valued at $10,695,883 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 26, 2026 disclosing 70,968 shares of Vanguard International Equity Index Funds - Vanguard FTSE All-World ex-US Small-Cap ETF. This represents a change in shares of 3.38% during the quarter. The current value of the position is $11,738,400 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-01 2026-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 73,365 2,397 3.38 10,696 5.15 0.1271
2026-01-26 2025-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 70,968 1,067 1.53 10,172 2.08 0.1254
2025-10-24 2025-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 69,901 -1,412 -1.98 9,964 3.98 0.1287
2025-07-23 2025-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 71,313 911 1.29 9,584 17.76 0.1334
2025-04-23 2025-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 70,402 8,597 13.91 8,138 15.02 0.1228
2025-01-30 2024-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 61,805 4,457 7.77 7,075 -2.05 0.1096
2024-10-25 2024-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 57,348 42 0.07 7,224 7.29 0.1129
2024-08-01 2024-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 57,306 393 0.69 6,733 1.25 0.1143
2024-05-06 2024-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 56,913 2,820 5.21 6,650 6.86 0.1157
2024-02-02 2023-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 54,093 -128 -0.24 6,222 8.06 0.1165
2023-11-08 2023-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 54,221 -60 -0.11 5,758 -3.97 0.1195
2023-08-03 2023-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 54,281 -4,067 -6.97 5,997 -5.92 0.1220
2023-05-02 2023-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 58,348 487 0.84 6,374 7.15 0.1372
2023-02-07 2022-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 57,861 -3,394 -5.54 5,949 4.63 0.1373
2022-11-03 2022-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 61,255 -1,107 -1.78 5,685 -11.67 0.1144
2022-08-01 2022-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 62,362 -2,301 -3.56 6,436 -19.66 0.1249
2022-05-10 2022-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 64,663 765 1.20 8,011 -6.41 0.1411
2022-02-02 2021-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 63,898 -3,416 -5.07 8,560 -4.88 0.1475
2021-11-09 2021-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 67,314 -2,626 -3.75 8,999 -5.70 0.1647
2021-08-06 2021-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 69,940 -62,787 -47.31 9,543 -43.99 0.1747
2021-05-04 2021-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 132,727 7,288 5.81 17,038 11.48 0.3285
2021-02-03 2020-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 125,439 10,784 9.41 15,283 26.60 0.3110
2020-11-09 2020-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 114,655 5,479 5.02 12,072 14.44 0.2742
2020-07-31 2020-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 109,176 6,064 5.88 10,549 30.73 0.2481
2020-05-01 2020-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 103,112 12,846 14.23 8,069 -19.54 0.2106
2020-01-31 2019-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 90,266 4,531 5.28 10,029 14.74 0.2176
2019-11-06 2019-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 85,735 20,578 31.58 8,741 27.46 0.1941
2019-08-07 2019-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 65,157 11,416 21.24 6,858 22.55 0.1506
2019-05-10 2019-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 53,741 -723,063 -93.08 5,596 -92.39 0.1246
2019-02-07 2018-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 776,804 35,406 4.78 73,548 -11.55 1.7640
2018-11-02 2018-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 741,398 13,275 1.82 83,155 -1.04 1.8221
2018-08-07 2018-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 728,123 5,836 0.81 84,033 -2.43 1.8598
2018-05-07 2018-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 722,287 -41,338 -5.41 86,125 -5.41 1.8872
2018-02-09 2017-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 763,625 10,873 1.44 91,047 5.24 1.9532
2017-11-06 2017-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 752,752 -18,513 -2.40 86,514 3.75 2.0240
2017-07-31 2017-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 771,265 -18,326 -2.32 83,389 2.88 2.0098
2017-05-08 2017-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 789,591 -37,998 -4.59 81,052 4.16 1.9883
2017-01-23 2016-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 827,589 25,369 3.16 77,818 -2.54 1.9664
2016-11-04 2016-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 802,220 -36,346 -4.33 79,843 2.28 1.9953
2016-08-15 2016-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 838,566 -10,079 -1.19 78,062 -1.49 1.9650
2016-05-10 2016-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 848,645 24,727 3.00 79,246 5.41 1.9884
2016-02-02 2015-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 823,918 -53,802 -6.13 75,181 -7.95 1.9309
2015-11-10 2015-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 877,720 17,799 2.07 81,675 -6.81 1.9751
2015-07-24 2015-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 859,921 -12,199 -1.40 87,643 1.24 1.9931
2015-05-05 2015-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 872,120 -11,842 -1.34 86,567 2.75 1.9789
2015-02-06 2014-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 883,962 77,727 9.64 84,250 2.32 1.9618
2014-11-06 2014-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 806,235 51,660 6.85 82,341 -1.83 1.9727
2014-07-28 2014-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 754,575 26,820 3.69 83,879 7.86 2.0101
2014-04-04 2014-03-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 727,755 23,239 3.30 77,768 7.23 1.9987
2014-01-31 2013-12-31 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 704,516 43,689 6.61 72,523 10.47 1.9905
2013-11-08 2013-09-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 660,827 41,785 6.75 65,647 18.85 2.0216
2013-08-05 2013-06-30 13F VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 619,042 619,042 55,237 1.9358
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.