Is IMID a global equity etf like SSAC and VWRP?

noClue

IMID (https://www.justetf.com/uk/etf-profile.html?isin=IE00B3YLTY66) is with 0.17% fee, which is lower than SSAC (https://www.justetf.com/uk/etf-profile.html?isin=IE00B6R52259) and VWRP (https://www.justetf.com/uk/etf-profile.html?isin=IE00BK5BQT80). However the fund size is significant smaller. I wonder why? Is it because it is not a true MSCI + ACWI etf?

EthicsGradient

The "IMI" means "investable markets", which can have an effect on whether some emerging markets stocks are included. So SPDR MSCI ACWI IMI UCITS ETF is 2.39% in China, whereas iShares MSCI ACWI UCITS ETF is 3.11% in China, and  Vanguard FTSE All-World UCITS ETF 3.15% in China.
As to why it's smaller - it may be younger, it may not have been marketed so much, investors may have preferred the larger Chinese weighting of other ETFs ...

GeoffTF

VEVE plus a market weight of VFEM (about 10%) is even cheaper at about 0.14% and tracks the FTSE All-World index, which has more stocks than the MSCI All-World index. VWRL has higher market capitalisation and smaller market spread than VWRP, which is not available on Vanguard's own platform. VWRL is popular because it is Vanguard, big and tracks the FTSE All-World index with a single ETF. Vanguard does not need to market it. Vanguard historically prefers OEICs to ETFs, and still pushes OEICs in favour of ETFs.

noClue

GeoffTF said:

VEVE plus a market weight of VFEM (about 10%) is even cheaper at about 0.14% and tracks the FTSE All-World index, which has more stocks than the MSCI All-World index. VWRL has higher market capitalisation and smaller market spread than VWRP, which is not available on Vanguard's own platform. VWRL is popular because it is Vanguard, big and tracks the FTSE All-World index with a single ETF. Vanguard does not need to market it. Vanguard historically prefers OEICs to ETFs, and still pushes OEICs in favour of ETFs.

how do you see VWRL and/or VWRP's market capitalisation and spread?

GeoffTF

You will find the Share Class Assets here:

https://www.vanguard.co.uk/professional/product/etf/equity/9505/ftse-all-world-ucits-etf-usd-distributing
https://www.vanguard.co.uk/professional/product/etf/equity/9679/ftse-all-world-ucits-etf-usd-accumulating

$9.91 for VWRL versus $6.51 billion for VWRP. VWRP is a newer fund and appears to be growing faster. (You will not find VWRP mentioned at all on Vanguard's retail website. You have to go to the professional website.)

You will find indicative bid and offer prices (15 minutes delayed) here:

https://www.londonstockexchange.com/stock/VWRL/vanguard/company-page
https://www.londonstockexchange.com/stock/VWRP/vanguard/company-page

The spread of VWRP has shrunk since I last looked. At close of trading today it was about 0.07% vs 0.06% for VWRL. VWRP had about twice the trading volume of VWRL today, despite its smaller size. The spread depends primarily on the volatility and the liquidity of the stock. It will vary from day to day. (The spread of VEVE has shrunk since I last looked too, despite a low turnover today.)

GeoffTF

GeoffTF said:

VEVE plus a market weight of VFEM (about 10%) is even cheaper at about 0.14% and tracks the FTSE All-World index, which has more stocks than the MSCI All-World index. 

It is actually about 0.9*0.12% + 0.1*0.22% =  0.13%. It is even cheaper if you add a UK bias.