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VEIRX Vanguard Equity-Income Adm

  • Fund
  • VEIRX
  • Price as of: Dec 09, 2016
  • $69.69
  • + $0.43
  • + 0.62%
  • Category
  • Large Cap Value Equities

VEIRX - Profile

Vitals

  • YTD Return 12.5%
  • 3 Yr Annualized Return 8.7%
  • 5 Yr Annualized Return 13.9%
  • Net Assets $24.4 B
  • Holdings in Top 10 28.0%

52 WEEK LOW AND HIGH

$69.69
$56.84
$69.69

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.17%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 26.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

N/A

Investment Themes

CATEGORY

Large Cap Value Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Large Value

Distributions

  • YTD Total Return 15.1%
  • 3 Yr Annualized Total Return 8.7%
  • 5 Yr Annualized Total Return 13.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.09%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Vanguard Equity Income Fund
  • Fund Family Name Vanguard
  • Inception Date Aug 13, 2001
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager W. Michael Reckmeyer

Fund Description

The Vanguard Equity-Income Fund Admiral Shares (VEIRX) is a low-cost, actively managed fund that seeks to provide a high level of current income and grow that income over time. VEIRX does this by investing in domestic dividend-paying equities. The fund uses fundamental concepts applied with quantitative investment techniques to create its portfolio of dividend payers. The fund skews towards large-cap value stocks.

Given its focus on dividend income, VEIRX makes for an ideal subcore position within a broad equity portfolio. The fund is managed by Vanguard Equity Investment Group and Wellington Management Company LLP.

VEIRX - Performance

Return Ranking - Trailing

Period VEIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 12.5% -75.5% 192.5% 54.19% 3
1 Yr 10.4% -47.2% 27.7% 28.28% 2
3 Yr 8.7% * -15.3% 14.2% 8.22% 1
5 Yr 13.9% * -0.1% 17.6% 25.77% 2
10 Yr 7.5% * -0.9% 8.9% 3.58% 1

* Annualized


Return Ranking - Calendar

Period VEIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.3% -47.3% 0.6% 16.67% 2
2014 4.9% -46.4% 14.8% 37.15% 3
2013 23.2% -13.6% 45.0% 65.92% 4
2012 10.3% -22.7% 35.8% 62.71% 4
2011 7.4% -34.9% 13.0% 1.56% 1

Total Return Ranking - Trailing

Period VEIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 15.1% -75.5% 199.7% 37.90% 2
1 Yr 10.4% -51.7% 110.4% 22.94% 2
3 Yr 8.7% * -11.2% 19.9% 7.50% 1
5 Yr 13.9% * -0.1% 17.6% 22.81% 2
10 Yr 7.5% * -0.9% 8.9% 3.45% 1

* Annualized


Total Return Ranking - Calendar

Period VEIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.9% -26.0% 5.6% 4.05% 1
2014 13.2% -14.3% 39.5% 34.56% 2
2013 39.6% 0.0% 289.2% 50.95% 3
2012 19.5% 0.0% 528.1% 53.64% 3
2011 16.5% -84.2% 231.9% 1.31% 1

NAV & Total Return History

VEIRX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

VEIRX Category Low Category High VEIRX % Rank Quintile
Net Assets 24.4 B 273 K 84.6 B 0.76% 1
Number of Holdings 224 1 999 3.14% 1
Net Assets in Top 10 6.73 B 0 24.7 B 0.76% 1
Weighting of Top 10 28.0% 0.0% 100.1% 15.60% 3

Top 10 Holdings

  1. Wells Fargo & Co 2.53%
  2. Microsoft Corp 4.53%
  3. Johnson & Johnson 3.27%
  4. Verizon Communications Inc 2.36%
  5. Exxon Mobil Corp 2.41%
  6. Merck & Co Inc 2.38%
  7. JPMorgan Chase & Co 2.93%
  8. General Electric Co 2.68%
  9. Cisco Systems Inc 2.46%
  10. Philip Morris International Inc 2.48%

Asset Allocation

Weighting Category Low Category High VEIRX % Rank Quintile
Stocks
95.11% 0.00% 132.93% 19.22% 4
Cash
3.35% -32.93% 100.00% 9.04% 2
Other
1.54% -2.64% 25.55% 2.28% 1
Convertible Bonds
0.00% 0.00% 6.90% 1.14% 1
Preferred Stocks
0.00% 0.00% 18.87% 3.33% 1
Bonds
0.00% -0.12% 75.03% 4.57% 2

Stock Sector Breakdown

Weighting Category Low Category High VEIRX % Rank Quintile
Financial Services
14.95% 0.00% 38.34% 23.55% 5
Technology
13.33% 0.00% 29.49% 9.15% 2
Industrials
12.85% 0.00% 31.48% 6.39% 2
Consumer Defense
12.29% -1.44% 25.28% 4.10% 1
Healthcare
11.97% 0.00% 29.91% 15.92% 3
Energy
10.81% 0.00% 29.15% 12.77% 3
Utilities
7.38% -0.70% 78.64% 3.62% 1
Consumer Cyclical
4.94% 0.00% 34.71% 23.16% 4
Communication Services
4.31% -0.70% 10.47% 8.39% 2
Basic Materials
2.29% 0.00% 14.96% 16.97% 4
Real Estate
0.00% 0.00% 19.44% 18.11% 4

Stock Geographic Breakdown

Weighting Category Low Category High VEIRX % Rank Quintile
US
85.40% 0.00% 132.93% 22.84% 4
Non US
9.71% 0.00% 98.98% 6.85% 2

VEIRX - Expenses

Operational Fees

VEIRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.17% 0.05% 21.67% 23.50% 1
Management Fee 0.16% 0.00% 1.20% 6.57% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.50% N/A N/A

Sales Fees

VEIRX Fees (% of AUM) Category Low Category High VEIRX Rank Quintile
Front Load N/A 1.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.50% N/A N/A

Trading Fees

VEIRX Fees (% of AUM) Category Low Category High VEIRX Rank Quintile
Max Redemption Fee N/A 0.50% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VEIRX Fees (% of AUM) Category Low Category High VEIRX Rank Quintile
Turnover 26.00% 0.00% 221.00% 11.80% 2

VEIRX - Distributions

Dividend Yield Analysis

VEIRX Category Low Category High VEIRX % Rank Quintile
Dividend Yield 1.7% 0.00% 3.58% 0.53% 1

Dividend Distribution Analysis

VEIRX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

VEIRX Category Low Category High VEIRX % Rank Quintile
Net Income Ratio 3.09% -1.41% 3.83% 1.43% 1

Capital Gain Distribution Analysis

VEIRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

VEIRX - Managers

W. Michael Reckmeyer

Manager

Start Date

Aug 15, 2007

Tenure

9.3

Tenure Rank

5.0%

W. Michael Reckmeyer, III, CFA, is Senior Managing Director , Partner, and Equity Portfolio Manager. Reckmeyer joined Wellington Management as an investment professional in 1994. As a member of the Value Team, Mike manages portfolios that have an emphasis on dividend income. Mike's mandate is to focus his research effort on large-capitalization, value-oriented stocks. While his research may include any industry, his primary area of coverage is insurance. Mike began his investment career in 1984 when he worked as an analyst following electrical equipment, aerospace, and pollution control companies (1984 —1986). This experience was followed by eight years at Kemper Financial Services where his research focus included paper and forest products, environmental services, and cable and cellular companies (1986 —1994). He received both his MBA (1984) and his BS in mechanical engineering (1981) from the University of Wisconsin. Mike holds the Chartered Financial Analyst designation and is a member of the Philadelphia Financial Analyst Society.


Michael R. Roach

Manager

Start Date

Jan 27, 2012

Tenure

4.85

Tenure Rank

8.4%

Michael R. Roach, CFA, Portfolio Manager. He has been with the Vanguard Group, Inc. since 1998; has worked in investment management since 2001. Education: B.S., Bloomsburg University; M.S., Drexel University.


James P. Stetler

Manager

Start Date

Dec 31, 2003

Tenure

12.93

Tenure Rank

3.2%

Stetler is a Principal of Vanguard. He has been with Vanguard since 1982; worked in investment management since 1996; He has managed a portion of the Fund since 2003. and has co-managed a portion of the Fund since 2012. Education: B.S., Susquehanna University; M.B.A., Saint Joseph’s University.


Binbin Guo

Manager

Start Date

Jan 27, 2016

Tenure

0.84

Tenure Rank

13.0%

Binbin Guo, Ph.D., Principal of Vanguard and head of Equity Research and Portfolio Strategies of Vanguard’s Quantitative Equity Group. He has oversight responsibility for the quantitative research team and develops portfolio strategies for equity and alternative asset classes. He has been with Vanguard since 2007 and has co-managed a portion of the Fund since 2016. Education: B.S. and M.S., Tsinghua University, China; Ph.D. and M.Phil., Yale University.


Tenure Analysis

Category Low

0.0

Category High

38.3

Category Average

7

Category Mode

1.9