VXUS tracks the FTSE Global All Cap ex US Index, which holds thousands of large, mid and small-cap companies in developed and emerging markets outside the United States. Europe, the Asia-Pacific region, Canada and emerging markets such as China, India and Taiwan make up the main regional weights. Currency exposure is not hedged. VXUS is often combined with a total US fund such as VTI as a two-fund global portfolio, and it is the international counterpart to VT, which includes US stocks.