VFWAX is a mutual fund offered by Vanguard that tracks the performance of the FTSE All-World ex-US Index. This index includes large and mid-cap stocks from developed and emerging markets outside of the United States. As an Admiral fund, VFWAX has a lower expense ratio and requires a higher minimum investment compared to other Vanguard funds. This fund provides investors with a diversified portfolio of international stocks and the potential for long-term growth.