Vanguard launches its first monetary ETF in euros
11 DEC, 2025
By Joanna Piwko from RankiaPro Europe
Vanguard announced today the launch of the Vanguard Euro Cash UCITS ETF, its first euro money market fund within the UCITS platform. The new vehicle expands the manager's range of fixed and variable income UCITS ETFs and will be listed on the Deutsche Börse, Euronext Amsterdam, and the Borsa Italiana.
The ETF aims to preserve capital by investing in high-quality money market instruments and aspires to offer a return aligned with the short-term compound interest rate of the euro (€STR).
ETF Features
The Vanguard Euro Cash UCITS ETF differs from synthetic alternatives due to its physical cash structure in euros. Its portfolio focuses on issuances from governmental and supranational entities, with the aim of maintaining high credit quality and resilience.
The fund will comply with the European money market fund regulation and does not replicate an index: it is actively managed with the aim of approximating its performance to the short-term €STR.
At its launch, the ETF will be available in two euro share classes (Accumulation and Distribution), with an ongoing charges figure (OCF) of 0.07%.
The ETF will debut on the Deutsche Börse, Euronext Amsterdam, and the Borsa Italiana, expanding access to European investors seeking a high-quality cash solution within a listed format.
Management will be handled by Vanguard's European Fixed Income Group investment team. This team manages over $2.6 trillion in assets globally and brings expertise in risk management and disciplined execution, relying on diverse perspectives and specialized knowledge.
We have observed strong demand and significant growth in the European money market ETFs category, both from retail investors and intermediaries. Vanguard has a long track record and extensive experience in managing money market funds. The launch of this ETF can help more savers take their first step towards investing, as well as those seeking to earn returns while maintaining short-term liquidity, providing diversification, liquidity, and stability.
Robert Balzanella, head of Vanguard's European money markets and currencies
