VOW vs VOW3: What Is the Difference?
VOW is Volkswagen's ordinary share with voting rights; VOW3 is the preferred share without a vote that receives EUR 0.06 more dividend per share. Most of the voting shares are held by Porsche SE, the State of Lower Saxony and Qatar, so the preferred share is the one that trades widely and sits in the DAX.
| Line | Price | Fair Value | Upside |
|---|---|---|---|
| VOW ordinary share · 1 vote per share | €69.50 | €209 | +200.0% |
| VOW3 preferred share · no vote | €69.84 | €209 | +198.5% |
more than 10% below fair value (cheap)near fair value (±10%)more than 10% above fair value (expensive)
Closing prices from Nov 6, 2026. Fair value from 26 models, updated daily. Not financial advice.
Conversion
There is no exchange between the two classes.
Which index?
Frequently asked questions
What is the difference between VOW and VOW3?
VOW is Volkswagen's ordinary share with voting rights; VOW3 is the preferred share without a vote that receives EUR 0.06 more dividend per share. Most of the voting shares are held by Porsche SE, the State of Lower Saxony and Qatar, so the preferred share is the one that trades widely and sits in the DAX.
Which is better, VOW or VOW3?
For the same stake in Volkswagen, VOW is 0.5% cheaper than VOW3 today. We value Volkswagen once: fair value €209 per share, the same for both classes. If you want a vote, pick the voting class; economically, the price per stake is what counts. Not financial advice.
Can you convert VOW into VOW3?
There is no exchange between the two classes.