VGK vs. DBEU ETF Comparison

Comparison of Vanguard FTSE European ETF (VGK) to db X-Trackers MSCI Europe Hedged Equity Fund (DBEU)

VGK

Vanguard FTSE European ETF

VGK Description

The investment seeks to track the performance of a benchmark index that measures the investment return of stocks issued by companies located in the major markets of Europe. The fund employs an indexing investment approach by investing all, or substantially all, of its assets in the common stocks included in the FTSE Developed Europe Index. The FTSE Developed Europe Index is made up of approximately 497 common stocks of companies located in 17 European countries-mostly companies in the United Kingdom, France, Switzerland, and Germany (which made up approximately 34%, 15%, 14%, and 13%, respectively, of the index's market capitalization as of May 31, 2013).

Grade (RS Rating)

Last Trade

$71.06

Average Daily Volume

1,827,702

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DBEU

db X-Trackers MSCI Europe Hedged Equity Fund

DBEU Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Europe US Dollar Hedged Index. The fund will normally invest at least 80% of its net assets in equity securities of issuers from Europe and in instruments designed to hedge the fund's exposure to non-U.S. currencies. It will invest at least 80% of its total assets in instruments that comprise the index. The index is designed to provide exposure to equity securities in developed stock markets in Europe, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and selected non-U.S. currencies.

Grade (RS Rating)

Last Trade

$42.11

Average Daily Volume

48,975

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VGK	DBEU
30 Days	0.34%	-0.81%
60 Days	3.19%	0.46%
90 Days	3.29%	-0.85%
12 Months	20.58%	15.73%

10 Overlapping Holdings

Symbol	Grade	Weight in VGK	Weight in DBEU	Overlap
ABBV	C	0.7%	0.74%	0.7%
BCS	B	0.35%	0.36%	0.35%
DEO	C	0.56%	0.62%	0.56%
E	C	0.28%	0.3%	0.28%
LOGI	D	0.11%	0.11%	0.11%
LYG	B	0.37%	0.41%	0.37%
NVS	C	1.89%	1.97%	1.89%
QGEN	B	0.08%	0.08%	0.08%
STLA	F	0.27%	0.28%	0.27%
UL	C	1.22%	1.41%	1.22%

VGK Overweight 3 Positions Relative to DBEU

Symbol	Grade	Weight
FLUT	B	0.29%
SW	B	0.19%
FRO	C	0.03%

VGK Underweight 2 Positions Relative to DBEU

	Symbol	Grade	Weight
	CCEP	B	-0.15%
	AER	C	-0.15%