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VEIRX Vanguard Equity-Income Adm

  • Fund
  • VEIRX
  • Price as of: Aug 08, 2016
  • $67.30
  • - $0.03
  • - 0.05%
  • Category
  • Large Cap Value Equities

VEIRX - Profile

Vitals

  • YTD Return 8.6%
  • 3 Yr Annualized Return 10.2%
  • 5 Yr Annualized Return 14.0%
  • Net Assets $23.2 B
  • Holdings in Top 10 29.1%

52 WEEK LOW AND HIGH

$67.30
$56.84
$67.57

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.17%

SALES FEES

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

BROKERAGE FEES

  • Turnover 32.00%

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 8.6%
  • 3 Yr Annualized Total Return 10.2%
  • 5 Yr Annualized Total Return 14.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.81%
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 8.6% -49.0% 20.6% 18.44% 1
1 Yr 10.0% -16.5% 24.9% 4.85% 1
3 Yr 10.2% * -3.3% 12.6% 5.24% 1
5 Yr 14.0% * -0.1% 15.3% 1.64% 1
10 Yr 8.3% * 0.3% 9.5% 2.10% 1

* Annualized


Return Ranking - Calendar

Period VEIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.3% -47.3% 4.5% 21.81% 2
2014 N/A -10.5% 7.1% N/A N/A
2013 N/A 23.2% 38.5% N/A N/A
2012 N/A 9.9% 35.8% N/A N/A
2011 N/A -34.9% 7.5% N/A N/A

Total Return Ranking - Trailing

Period VEIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.6% -49.0% 20.6% 18.54% 1
1 Yr 10.0% -19.4% 21.9% 3.81% 1
3 Yr 10.2% * -3.3% 12.6% 4.31% 1
5 Yr 14.0% * -0.1% 15.3% 1.53% 1
10 Yr 8.3% * 0.3% 9.5% 1.85% 1

* Annualized


Total Return Ranking - Calendar

Period VEIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.3% -47.3% 4.5% 21.81% 2
2014 N/A -10.5% 8.7% N/A N/A
2013 N/A 31.7% 41.8% N/A N/A
2012 N/A 13.8% 43.8% N/A N/A
2011 N/A -37.1% 12.6% N/A N/A

NAV & Total Return History

VEIRX - Holdings

Filings data as of: Mar 31, 2016

Concentration Analysis

VEIRX Category Low Category High VEIRX % Rank Quintile
Net Assets 23.2 B 273 K 82.2 B 0.76% 1
Number of Holdings 218 1 1019 3.14% 1
Net Assets in Top 10 5.89 B 0 24.3 B 0.86% 1
Weighting of Top 10 29.1% 0.0% 100.1% 13.89% 3

Top 10 Holdings

  1. Wells Fargo & Co 2.97%
  2. Microsoft Corp 4.72%
  3. Johnson & Johnson 3.29%
  4. Verizon Communications Inc 2.78%
  5. Exxon Mobil Corp 2.47%
  6. Merck & Co Inc 2.16%
  7. JPMorgan Chase & Co 2.86%
  8. General Electric Co 3.13%
  9. Intel Corp 2.25%
  10. Cisco Systems Inc 2.48%

Asset Allocation

Weighting Category Low Category High VEIRX % Rank Quintile
Stocks
96.30% 0.00% 145.57% 14.94% 4
Cash
1.87% -45.58% 100.00% 13.80% 3
Other
1.83% -2.39% 29.06% 2.66% 1
Convertible Bonds
0.00% 0.00% 6.26% 1.24% 1
Preferred Stocks
0.00% 0.00% 16.29% 3.04% 1
Bonds
0.00% -0.25% 68.80% 3.90% 1

Stock Sector Breakdown

Weighting Category Low Category High VEIRX % Rank Quintile
Financial Services
15.14% 0.00% 41.32% 22.97% 5
Technology
13.12% 0.00% 28.40% 8.58% 2
Industrials
13.00% 0.00% 31.23% 6.86% 2
Consumer Defense
11.89% -1.99% 26.19% 5.05% 1
Healthcare
11.56% 0.00% 29.91% 18.97% 4
Energy
10.38% 0.00% 29.15% 12.77% 3
Utilities
9.03% 0.00% 77.60% 1.91% 1
Consumer Cyclical
5.70% 0.00% 36.79% 20.78% 4
Communication Services
4.70% -0.78% 14.21% 8.39% 2
Basic Materials
1.79% 0.00% 18.87% 18.49% 4
Real Estate
0.00% -0.42% 20.47% 17.25% 4

Stock Geographic Breakdown

Weighting Category Low Category High VEIRX % Rank Quintile
US
87.35% 0.00% 135.19% 20.36% 4
Non US
8.95% 0.00% 97.88% 7.90% 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% 6.28% 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 32.00% 0.00% 293.00% 10.75% 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 2.81% -1.41% 3.44% 1.90% 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

8.97

Tenure Rank

4.8%

W. Michael Reckmeyer, Ill, CFA, Senior Vice President, Partner, and Equity Portfolio Manager, is the Portfolio Manager for the Hartford Equity Income Fund, the equity portion of the Hartford Balanced Income Fund, and is involved in portfolio management and securities analysis for the Hartford Value Funds. 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 for the State of Michigan Pension Fund 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 joined Wellington Management in 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

4.51

Tenure Rank

8.3%

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

12.59

Tenure Rank

3.1%

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

0.51

Tenure Rank

12.8%

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

0.1

Category High

37.9

Category Average

6.92

Category Mode

1.6