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VBLD

$76.24+1.34%Infrastructure37/100
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Vanguard Global Infrastructure Index ETF · Vanguard

Data as at 29 March 2026

TL;DR

Vanguard's global infrastructure ETF tracking utilities, energy infrastructure, and transport companies. Unhedged at 0.26% per year — cheaper than IFRA (0.52%) but without the currency hedge.

MER (Annual Fee)
0.47%
#1 lowest in Infrastructure
1Y Return
+6.5%
3Y Return (p.a.)
+10.0%
Dividend Yield
2.98%
Trailing 12 months
AUM
$609.3M
Assets under management
Avg Daily Turnover
$157K
Avg shares × unit price
Unit Price
$76.24
As at 29 March 2026
Provider
Vanguard
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Strategy

Managed by Vanguard. Tracks the FTSE Global Core Infrastructure Index, covering water, energy, transport, and communication infrastructure companies globally. Unhedged AUD exposure.

Top Holdings

Key Fact

VBLD charges 0.26% per year versus IFRA's 0.52%. On a $200,000 portfolio over 20 years, that fee difference compounded amounts to approximately $20,000 in additional returns — a meaningful saving for long-term infrastructure investors.

Suited for

Investors who want global infrastructure exposure at a lower fee and without hedging costs. Suitable for those comfortable with currency exposure on their infrastructure allocation.

Risks

Unhedged: AUD movements affect returns. US utilities dominate the portfolio given the US market's size. Rising interest rates reduce infrastructure valuations due to the long-duration nature of their cash flows.

VBLD Comparisons

ETFCheck Score37/100
Fees (40%)30
Fund Size (25%)40
Liquidity (20%)0
Yield (15%)100
How scores are calculated →
Other Infrastructure ETFs
IFRA
0.52% MER
55View all Infrastructure ETFs →

Frequently Asked Questions - VBLD

How does being unhedged affect VBLD's returns for Australian investors compared to hedged alternatives?+
VBLD's unhedged structure means returns are directly impacted by AUD movements against major currencies like the USD and EUR. When the Australian dollar weakens, VBLD investors receive a currency tailwind that boosts returns beyond the underlying infrastructure assets' performance. Conversely, a strengthening AUD drags on returns. Compared to the hedged IFRA (ASX), VBLD's 1-year return of 7.8% reflects this FX exposure, while its lower MER of 0.47% saves on hedging costs.
Is VBLD a good option for SMSF trustees building a long-term infrastructure allocation?+
VBLD suits SMSF trustees with a longer time horizon who can tolerate short-term currency volatility in exchange for lower ongoing costs. Its 0.47% MER is competitive for global infrastructure exposure, and the approximately 3.18% yield provides moderate income for accumulation-phase members. For pension-phase SMSFs needing stable income, the unhedged currency risk may be less suitable - hedged alternatives like IFRA could better match pension payment obligations and minimum drawdown requirements.
What index does VBLD track and how does its methodology differ from IFRA's benchmark?+
VBLD tracks the FTSE Developed Core Infrastructure Index, which targets infrastructure companies across utilities, energy, and transport sectors in developed markets. IFRA tracks the hedged version of a similar FTSE infrastructure index, so the underlying holdings overlap significantly. The critical difference is not stock selection but currency treatment - VBLD reports returns in unhedged AUD terms. Both indexes apply a 50/50 cap between utilities and non-utility infrastructure to prevent excessive sector concentration.
What tax considerations should Australian investors understand when holding VBLD?+
VBLD distributions typically contain a mix of foreign income and potential capital gains, which must be declared in Australian tax returns. Unlike domestic equity ETFs, VBLD distributions generally carry no franking credits since income is sourced from overseas infrastructure companies. Australian investors may be entitled to foreign income tax offsets where withholding tax has been paid at source. SMSF trustees should ensure their fund's investment strategy documentation covers unhedged international exposure and associated currency risk.