How to Buy ETFs in Malaysia — Bursa-Listed & US ETFs via Malaysian Brokers (2026)

ETFs are the closest thing investing has to a cheat code for ordinary people. You get instant diversification across dozens or hundreds of companies, pay a fraction of the cost of a unit trust, and you can buy or sell any time the market is open — no lock-up period, no sales charge, no fund manager calling your financial goals "moderate risk."

For Malaysian investors, the picture in 2026 is materially better than five years ago. You now have two distinct ETF universes to work with: the growing list of ETFs traded directly on Bursa Malaysia (no currency risk, familiar market, Shariah options available), and the full global selection of US-listed ETFs accessible through a handful of Malaysian-regulated brokers. Understanding which path suits your goals — and what each one actually costs — is what this guide covers.

If you are brand new to investing, read the How to Start Investing in Malaysia guide first. If you already have a Bursa account and are deciding between stocks, ETFs, and REITs, this guide picks up from there.

Last updated 17 October 2026 · money.com.my Editorial

What ETFs Are and Why They Suit Malaysian Investors#

An Exchange Traded Fund (ETF) is a fund that holds a basket of assets — stocks, bonds, gold, or a combination — and trades on a stock exchange like a single share. When you buy one unit of an index ETF such as the FTSE4Good Bursa Malaysia ETF (formerly the FTSE Bursa Malaysia KLCI ETF), you are buying small stakes in the companies in its index at once.

Three structural advantages make ETFs particularly well-suited to Malaysian retail investors:

Low cost. Unit trusts charge their own management fees and often a sales charge; check each fund's prospectus, because we have not re-checked any manager's figures (HELD). The Bursa ETFs we checked charge management fees from 0.10% (ABF Malaysia Bond Index Fund) to 0.65% (Eq8 MSCI SEA Islamic Dividend ETF) a year, plus trustee and other fees, and no sales charge. Over 20 years, fee differences compound into a substantial chunk of your final portfolio value.

Tax treatment. We understand Malaysia does not tax individuals' gains on listed ETFs, so a profit on a Bursa ETF or a US ETF would be yours, but we did not re-check this against LHDN (HELD), and Malaysia does tax some gains (we believe RPGT applies to property gains, but we did not re-check this, HELD). How a Bursa ETF's distributions are taxed depends on the income they come from (HELD; check the fund's notice). Fixed-deposit interest at licensed banks is exempt for resident individuals, so neither product is clearly better on tax.

Liquidity and transparency. Unlike unit trusts that price once a day at NAV, ETFs trade continuously during market hours. You see the price you are paying before you commit. You can exit any time the market is open. There is no surrender charge for selling early.

The trade-off: ETFs require you to have a brokerage account and execute trades yourself. If full automation is what you want, a robo-advisor like StashAway or Wahed Invest handles ETF allocation automatically — but at slightly higher platform fees in exchange for the convenience.

ETFs Listed on Bursa Malaysia#

Bursa Malaysia's ETF market is small compared to the US or Singapore. We could not read Bursa's own site (Cloudflare check), so we do not state how many ETFs are listed (HELD). These are the funds whose managers' own pages we could read on 17 October 2026:

Fund pages of Eq8 Capital, TradePlus and AmInvest, read 17 October 2026. The earlier version listed "TradePlus MSCI SEA Ex-Malaysia ETF (0824EA)" and "TradePlus SHARIA ESG Dividend Malaysia ETF (0836EA)"; neither appears on the TradePlus site, and 0824EA is the Eq8 MSCI Malaysia Islamic Dividend ETF. Check the latest prospectus for total expense ratios.

The standouts:

0820EA (FTSE4Good Bursa Malaysia ETF) — AmInvest's page says it was formerly the FTSE Bursa Malaysia KLCI ETF and now tracks the FTSE4Good Bursa Malaysia Index, so it is no longer a plain KLCI tracker. Check the index constituents before using it as a "broad market" proxy.

0821EA (Eq8 Dow Jones Islamic Market Malaysia Titans 25) — holds the 25 largest Shariah-compliant Malaysian stocks, per Eq8's page.

0800EA (ABF Malaysia Bond Index Fund) — a Malaysian bond index fund with a 0.10% management fee, which AmInvest's page says compares with about 1% for an actively managed bond unit trust. We did not verify that it is the only conventional bond ETF on Bursa (HELD).

0828EA (TradePlus Shariah Gold Tracker) — holds at least 95% of NAV in physical gold bars from LBMA-accredited refineries, per TradePlus. Check its gold pricing currency and costs on the TradePlus page.

Trading Volume Caveat#

Bursa-listed ETFs can trade at lower volumes than the underlying stocks. Liquidity varies by fund, and we did not measure it (HELD). Check the order book depth before buying — not just the last-done price. If the bid-ask spread is wide, consider using a limit order rather than a market order.

How to Buy Bursa-Listed ETFs — Step by Step#

Buying an ETF on Bursa works identically to buying a stock. You need a CDS account and a licensed broker. If you already invest in Bursa stocks, you can buy ETFs with the same account immediately.

Step 1 — Open a CDS account and brokerage account

Every Bursa investor needs a Central Depository System (CDS) account, issued by Bursa Malaysia Depository. You open it simultaneously with your brokerage account. The process is digital at the online brokers we checked. Rakuten Trade says its form takes under 8 minutes with approval within an hour, and moomoo says 3 to 5 minutes with review in 1 to 3 working days.

All brokers operating on Bursa must be licensed by the Securities Commission Malaysia. Verify any broker you use on the SC's public register at sc.com.my.

Step 2 — Fund your account

Transfer MYR from your bank account via DuitNow or IBG to your trading account. Rakuten Trade says online transfers are reflected in real time (its services page); other brokers' crediting times and cut-offs vary, so check yours (we could not source a typical cut-off).

Step 3 — Search for the ETF by ticker

In your broker's trading platform, search for the ETF ticker (e.g., "0820EA"). You will see the current bid/ask prices, trading volume, and recent price history.

Step 4 — Place a limit order

ETFs on Bursa trade in board lots of 100 units (Eq8 and AmInvest fund pages). Check the current price on your broker and multiply by 100 to see the cost of one lot. Enter a limit order at or near the current ask price. Using a market order on low-volume ETFs risks paying a wider spread.

Step 5 — Monitor and settle

Bursa settles on T+2 — funds are debited from your account two business days after execution. Your units appear in your CDS account on settlement day.

What it costs: On top of your broker's brokerage fee (see our broker reviews: moomoo is 0.03% plus RM3 per order, Rakuten Trade uses a RM1 / RM2.88 / 0.1% / RM100 scale, Webull is 0.05% with a RM2.50 minimum), Bursa charges a clearing fee of 0.03% (max RM1,000). Stamp duty on Bursa-listed ETFs is exempt until 31 December 2028 (Rakuten Trade, moomoo and Webull fee pages), and an 8% SST applies from 1 October 2025 to brokerage and clearing fees on ETFs. For broker details, see the best online brokers guide.

Accessing US ETFs Through Malaysian Brokers#

The US ETF market is categorically larger than Bursa's. VOO (Vanguard S&P 500 ETF) is a very large fund: Vanguard's page showed total net assets of about USD1.7 trillion across share classes at 30 September 2026, with a 0.03% expense ratio. QQQ (Invesco Nasdaq-100 ETF) gives you concentrated exposure to the largest US tech companies. VTI (Vanguard Total Stock Market ETF) covers the entire US equity market in a single fund.

Several brokers give Malaysian retail investors access to US ETFs. moomoo, Webull and Rakuten Trade state SC licensing on their own pages; Interactive Brokers' Malaysian licensing status is unverified (HELD), and we could not read Tiger's pages:

moomoo Malaysia#

moomoo Malaysia states a Capital Markets Services Licence from the SC (eCMSL/A0397/2024). It offers Bursa, US, Hong Kong, Singapore and China A-share markets from a single account.

US ETF fees (moomoo help centre, 17 October 2026):

• Commission: 0.03% of transaction amount
• Platform fee: USD0.99 per order
• Settlement fee: USD0.003 per share, maximum 1% of the trade; SEC fee on sells; CAT fee; Malaysian stamp duty (RM1 per RM1,000, ETFs capped at RM200)
• We found no custody fee on its fee pages

For a USD1,000 ETF purchase: commission USD0.30 plus USD0.99 platform fee, about USD1.29 before settlement and other pass-through fees. For a full breakdown see the moomoo Malaysia review.

Currency conversion: you fund your moomoo account in MYR, then convert to USD in the app at real-time rates from an upstream bank. The help centre does not state a spread.

Tiger Brokers Malaysia#

We could not read Tiger's Malaysian pages on 17 October 2026, so we do not state its licence, markets, fees or platforms (HELD). See the Tiger Brokers review.

Webull and Interactive Brokers#

Webull Malaysia advertises 0 commission and 0 platform fee on US stocks and ETFs under a promotion; see the Webull review. Interactive Brokers charges from USD0.0035 per share (minimum USD0.35) on its tiered plan; see the IBKR review.

Rakuten Trade#

Rakuten Trade says a Cash Upfront account trades Bursa, US and Hong Kong stocks (US brokerage 0.1%, minimum USD0.88, maximum USD25). We did not check Kenanga Trade or Maybank IB (HELD).

The 30% Withholding Tax on US Dividends#

This is the single most important tax fact about US ETFs for Malaysian investors. The US Internal Revenue Service (IRS) imposes a 30% withholding tax on dividends paid by US-listed funds to non-US residents. The IRS's treaty table lists no income tax treaty with Malaysia that reduces this rate.

What this means in practice: if VOO distributes a quarterly dividend, 30% is automatically deducted before the cash arrives in your brokerage account. You receive 70% of the declared dividend.

For accumulating ETFs (those that reinvest dividends rather than paying them out), this is less relevant because there is no cash distribution to withhold. VOO and VTI are distributing ETFs — they pay dividends quarterly. If minimising withholding tax is a priority, some investors prefer Irish-domiciled ETFs (e.g., CSPX on the London Stock Exchange), which are Irish-domiciled, and which also sit outside US estate tax; see our domicile guide for the sourcing and what we could not verify. Accessing LSE-listed ETFs from Malaysia needs a broker that lists the LSE; moomoo's pricing page lists no LSE market, and Interactive Brokers is the broker usually named for it (not confirmed, HELD).

Capital gains from selling US ETFs: we understand these are not subject to Malaysian income tax for individuals (not re-checked against LHDN, HELD). The 30% withholding applies only to dividend distributions.

Bursa ETF vs US ETF — Which Should You Buy?#

The honest call: US ETFs (particularly VOO and VTI) offer significantly lower expense ratios and vastly deeper market exposure than anything listed on Bursa. We have not sourced long-run return figures for either market, so none are quoted (HELD). The 30% dividend withholding tax is a real drag if you are income-focused, and you are accepting MYR/USD currency risk as part of the deal. If MYR weakens against USD, your USD investment becomes more valuable in ringgit terms when you sell; if the ringgit strengthens (PNB's December 2025 release says it rose 8.7% to RM4.09 per USD in 2025), the reverse happens.

For a Malaysian investor in accumulation mode — building wealth over 15–20 years — a combination of both makes sense: Bursa ETFs for local exposure, Malaysian corporate events, and Shariah compliance if needed; US ETFs for global diversification and lower-cost index exposure.

ETF vs Unit Trust vs Robo-Advisor — Cost Comparison#

The fee gap between these three structures is substantial and compounds dramatically over time.

Worked example — RM50,000 invested over 20 years, assuming a 7% gross annual return and the illustrative fee rates in the table below (the 1.5% unit trust and 0.6% robo rates are our assumptions, not sourced figures):

Approximation for illustrative purposes. Actual returns depend on market performance.

The fee difference between an active unit trust and VOO over 20 years is roughly RM46,000 on a RM50,000 starting position — almost a full doubling of the original investment. Fees are not a minor consideration.

If you want the automation of a robo-advisor without the fee premium, buying a Bursa ETF monthly through a manual standing order gets you most of the way there. This is dollar-cost averaging applied to ETFs — the DCA guide covers the mechanics.

For the unit trust-vs-ETF comparison from a Malaysian regulatory and access standpoint, see how ETFs compare to unit trusts.

EPF i-Invest — Can You Buy ETFs With EPF Savings?#

This question comes up often and the short answer is: not directly.

EPF i-Invest allows you to transfer a portion of Akaun Persaraan (Account 1) savings into approved unit trust funds managed by External Fund Managers on the EPF panel. You browse a list of approved funds, select one, and EPF transfers the money directly to the fund manager — it never passes through your personal bank account.

What you cannot do via i-Invest:

• Buy a Bursa-listed ETF ticker (0820EA, 0821EA, etc.) directly
• Buy US ETFs (VOO, QQQ, VTI) through the i-Invest portal

What you can do instead:

• Some EPF-approved unit trust funds are themselves index-tracking funds with relatively low management fees — these are the closest proxy to ETF investing within the i-Invest framework. Look for funds with "index", "passive", or "tracker" in the name, and compare their management fees (target under 0.5% p.a.) against their active counterparts.
• For direct ETF access, you need a brokerage account funded from your personal cash savings — not EPF.

The trade-off: EPF Akaun Persaraan earns an annual dividend declared by EPF (we could not read EPF's dividend history to quote the past range, HELD; check kwsp.gov.my). Moving that money into a unit trust (or indirectly into an equity fund) gives you market exposure but no EPF dividend guarantee on the invested portion.

The full mechanics of i-Invest — eligibility, Basic Savings thresholds, step-by-step process — are covered in the EPF i-Invest guide.

Tax Treatment of ETF Investing in Malaysia#

Capital gains. We understand Malaysia does not tax individual investors' gains on listed ETFs, whether Bursa or US (not re-checked against LHDN, HELD), so a profit would be yours; capital gains tax does exist for some other assets, so confirm your own position.

Bursa ETF distributions — whether a distribution is taxable or exempt in your hands depends on the income behind it, and we did not verify the "single-tier, no further tax" description used in earlier versions (HELD). Check the fund's distribution notice or prospectus.

US ETF dividends — 30% US withholding tax is deducted at source before the distribution reaches your brokerage account. This is automatic — your broker withholds it when the dividend is paid. You cannot claim it back under the Malaysia-US tax treaty position because no comprehensive relief treaty exists for this scenario. Your broker will issue a tax statement showing the withheld amount for your records.

Zakat consideration — for Muslim investors, ETF holdings may be subject to zakat on investment assets depending on how the holdings are classified. This is a personal religious obligation, not a government tax. Consult a zakat adviser or refer to the zakat on savings and investments guide for how ETF holdings are typically assessed.

Record-keeping: Even if gains are not taxed, keep records of your ETF purchase prices (cost basis) and sale prices. If Malaysia ever introduces a capital gains tax on financial assets in the future, having accurate cost basis records from today will matter. We have not checked whether any such legislation is in force (HELD).

Starting a Regular Investment Plan With ETFs#

Buying ETFs once and waiting is valid. But the most reliable approach for most investors is buying a fixed amount at regular intervals — removing the question of "is this the right time?" from the equation entirely.

Option 1 — Manual monthly purchase through your broker

Pick a day each month (e.g., the 1st or the day after your salary arrives). Log into your broker, buy the same ETF for the same ringgit amount. Takes 5 minutes. Discipline is the only requirement.

For a RM500/month plan buying 0821EA (Eq8 Dow Jones Islamic Market Malaysia Titans 25 ETF) at an assumed average price of RM1.40 (illustrative, not a current quote):

• Year 1: ~4,285 units accumulated
• Effective average cost smoothed across 12 market prices
• Annual fund fees: 0.49% × RM6,000 = about RM29 (Eq8 total annual fees)
• Transaction cost at moomoo's standard rates: commission 0.03% × RM6,000 = RM1.80 plus a RM3 platform fee on each of 12 orders = RM36, about RM37.80 for the year before clearing fees and any promotion. The per-order fee matters for small monthly buys.

Option 2 — Auto-invest through a robo-advisor (for US ETF exposure)

StashAway and Wahed Invest invest in ETF-based portfolios automatically. You set a monthly auto-debit, they handle rebalancing. The cost is higher (StashAway's management fee is 0.2% to 0.8% a year, on top of underlying ETF costs of about 0.2%, per its pricing page; we could not read Wahed's site), but the automation removes human error. The best robo-advisor comparison covers current fee schedules and portfolio options.

Option 3 — Scheduled investing at your broker

Rakuten Trade says its Raku-Invest lets you schedule and automate investments weekly or monthly (its services page). We did not verify whether moomoo or other brokers offer recurring buy orders, so check your broker before relying on one; if not, combine a manual top-up with a calendar reminder.

The mechanics of DCA applied to ETFs — how your average cost per unit smooths over time and what the numbers look like across different market conditions — is covered in detail in the dollar-cost averaging guide.

What to Avoid#

Leveraged and inverse ETFs. These exist on US markets (e.g., 3x Nasdaq, inverse S&P). They are not investment vehicles — they are short-term trading instruments that decay in value over time due to daily rebalancing. An ETF that claims to deliver 3x the S&P 500 daily return will not deliver 3x the S&P 500 annual return; in a volatile year it can lose value even if the underlying index ends flat. Not suitable for buy-and-hold investing.

ETFs with very low trading volumes on Bursa. Some of the smaller Bursa ETFs trade only a few thousand units per day. The bid-ask spread on these can be 1%+ — meaning you lose 1% before the fund has moved at all. Check the volume column before buying.

Ignoring currency risk on US ETFs. If MYR strengthens significantly against USD, the ringgit value of your US ETF holdings falls even if the fund price in USD has risen. This cuts both ways — a weakening MYR amplifies your USD returns. It is not a reason to avoid US ETFs, but it is a real factor in your total return calculation.

Confusing ETFs with unit trusts that include "ETF" in their name. Some Malaysian unit trust fund names include "ETF" in a way that implies they are exchange-traded, when they are actually traditional unit trusts. Check whether the product has a Bursa ticker code — if it does not trade on Bursa, it is not an ETF in the structural sense.

Related Guides#

• How to Fund a US Brokerage from Malaysia — get ringgit into IBKR, moomoo or Tiger before you buy US ETFs
• How to Open a CDS Account in Malaysia — Bursa Beginner Guide 2026 — you need a CDS account before you can buy ETFs on Bursa
• How to Start Investing in Malaysia — the beginner's starting point before ETFs
• How to Invest in Bursa Malaysia Stocks — buying individual stocks alongside ETFs
• Best Online Brokers Malaysia 2026 — full broker comparison including fees
• moomoo Malaysia Review — detailed review of the broker most Malaysians use for US ETFs
• Dollar-Cost Averaging Malaysia — how to apply DCA to ETF investing
• Best Robo-Advisor Malaysia 2026 — automated ETF investing alternative
• REITs Malaysia Beginner Guide — income-focused alternative to equity ETFs

Data sourced from Bursa Malaysia (bursamalaysia.com), Securities Commission Malaysia (sc.com.my), broker published fee schedules (moomoo Malaysia, Tiger Brokers, Rakuten Trade), and fund manager factsheets as of April 2026. ETF expense ratios, broker fees, and regulatory requirements change — verify current terms before investing. US withholding tax rates are based on IRS Publication 515 and current Malaysia-US treaty status as of April 2026. This guide is informational only and does not constitute financial advice. money.com.my is not a licensed financial adviser.

This guide is AI-assisted.

Amendment, 17 October 2026. We re-read the managers' own fund pages (Eq8 Capital, TradePlus, AmInvest), Vanguard's VOO and VTI pages, moomoo's Malaysia fee pages, Rakuten Trade's fees and services pages, StashAway's pricing page and the IRS withholding pages, and saved them in docs/verification-log/evidence-batch-a-oct17. Corrected: the ETF table. 0820EA is now the FTSE4Good Bursa Malaysia ETF (formerly the KLCI ETF; management fee 0.50% plus 0.05% trustee); 0821EA is the Eq8 Dow Jones Islamic Market Malaysia Titans 25 ETF (management 0.40%, total 0.49%, not "about 0.40%"); the guide's "MyETF MSCI Malaysia Islamic Dividend (0822EA)" is the Eq8 MSCI Malaysia Islamic Dividend ETF, code 0824EA (0.400% management); the "TradePlus MSCI SEA Ex-Malaysia ETF (0824EA)" and "TradePlus SHARIA ESG Dividend Malaysia ETF (0836EA)" could not be found, and the Eq8 MSCI SEA Islamic Dividend ETF is 0825EA (0.650% management); TradePlus Shariah Gold Tracker management fee is 0.50% (plus 0.06% trustee and 0.20% custody), not about 0.40%; ABF Malaysia Bond Index Fund management fee is 0.10% (plus 0.04% trustee), not about 0.15%. Stamp duty on Bursa ETFs is exempt until 31 December 2028 (the guide said RM1 per RM1,000). moomoo's US fee is 0.03% plus USD0.99 per order plus USD0.003 per share settlement (the guide said USD0.0049 per share, minimum USD0.99, and a 0.03% a year custody fee with a USD1.20 monthly minimum, which its fee pages do not list). The guide said Rakuten Trade has no US access and that US ETFs are available only through moomoo or Tiger; Rakuten, Webull and IBKR also offer them. The monthly-plan example now includes moomoo's RM3 platform fee on each order. The 20-year illustration was recomputed (146,000 / 173,000 / 176,000 / 192,000). Confirmed: VOO and VTI 0.03% expense ratio, 30% US dividend withholding, 100-unit board lot, StashAway 0.2% to 0.8%. Removed as unsupported: "about 14 ETFs listed", KLCI "5% to 8%" and US "10%" annualised returns, unit trust fee ranges, EPF dividend range 5.20% to 6.90%, moomoo recurring top-up claim, current price examples. Held: QQQ expense ratio, Bursa's own listings (site blocked), EPF i-Invest rules, Tiger.

Amendment, 17 October 2026 (EPF account names, follow-up). A further sweep of the EPF account names. Where this page still used the pre-May 2024 labels for current accounts, it now says Account 1 as Akaun Persaraan on first use in a section and the plain new name afterwards. The old names stay only where they describe the past (the 70/30 split before 11 May 2024, balances held before the restructuring, COVID-era schemes), in earlier amendment notes, and in the titles of linked guides. The links between the new names and the old account numbers are our reading, not KWSP's wording: the RTM report of 6 July 2026 and the malaysia.gov.my page "Jenis Akaun Simpanan KWSP" name the three accounts and the 75% / 15% / 10% split but do not use the words "Account 1", "Account 2" or "Account 3" (evidence in docs/verification-log/followups-g5-oct17/). Only labels changed; no figure, rate or withdrawal rule was changed.

Amendment, 17 October 2026 (follow-up, evidence batch I). We re-read the Eq8, TradePlus and AmInvest fund pages, Vanguard's VOO and VTI pages, Invesco's QQQ page, StashAway's pricing page, Rakuten Trade's FAQ and the IRS pages, and saved them in docs/verification-log/evidence-batch-i-oct17. Confirmed (fees unchanged): 0820EA 0.50% management plus 0.05% trustee, 0821EA 0.40% (0.49% total), 0824EA 0.400% (0.505% total), 0825EA 0.650% (0.755% total), 0839EA 0.60% (0.74% total), 0828EA 0.50% plus 0.06% trustee and 0.20% custody, 0800EA 0.10% plus 0.04%, 100-unit board lots for 0820EA and 0800EA and Eq8's 100-unit lot, VOO and VTI 0.03%, StashAway 0.2% to 0.8%. Sourced (was HELD): QQQ's total expense ratio is 0.18% (Invesco). Corrected: the "T+2, USD" settlement for US ETFs (Rakuten Trade's FAQ says T+1 for the US market; moomoo's pricing page says "T+2 settlement typically", so the table now says to confirm with your broker); the "typically 12pm to 3pm" funding cut-off (the Bursa guide already removed it as unsupported; Rakuten Trade says online transfers are real-time). Changed to HELD: the statements that Malaysia has no capital gains tax for individuals and that Bursa ETF distributions are "single-tier, no further tax" (not re-checked against LHDN; capital gains tax exists for some assets such as property).

Amendment, 17 October 2026 (review follow-up). Reworded as HELD: "Interactive Brokers does" list the LSE (now: usually named for LSE access, not confirmed, HELD); "RPGT on property" as an example of a taxed gain (now HELD). Clarified: moomoo's "T+2 settlement typically" is from its pricing-page FAQ and applies to its international orders in general. Removed as unsupported: in an earlier version, the "Tax efficiency" heading and its sentence that the tax position is "structurally better than putting the same money into a savings account or fixed deposit" (replaced by the HELD "Tax treatment" paragraph in the 17 October amendment above; this note lists the removal). Sourced: fixed-deposit interest at licensed banks is exempt for resident individuals (hasil.gov.my quote in docs/verification-log/faq-answers-oct17/evidence.md, line 11; see the evidence row added in evidence batch I). Follow-up (24 October 2026): the example ticker VUAA is replaced by CSPX, because the Vanguard UK page we saved as the VUAA source is the VUSA (Distributing) page and does not mention VUAA; VUAA details are HELD.