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Vanguard tracker fund and security

Hello
I am a novice and please bear with my questions.
A tracker fund could either be "Full replication" or "Partial replication" .
Now a Tracker fund (either of the above weightings) perform the actual replication by either physical replication (own the asset) or synthetic replication.
My question is how does Vanguard Tracker Fund do the above for its tracker funds?
If if does follow synthetic replication what are the collaterals company Vanguard holds to the value of customers invested money?
I presume in synthetic replication, assets are not held but other forms of financial instruments to replicate the performance?
Thanking you for your explanation

Comments

  • underground99
    underground99 Posts: 404 Forumite
    100 Posts Name Dropper
    edited 6 April 2021 at 12:24PM
    You can read the prospectus, but IIRC all the major Vanguard UK/Eire domiciled index funds and ETFs are physical replication.
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