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VEXRX Vanguard Explorer Adm

  • Fund
  • VEXRX
  • Price as of: May 22, 2018
  • $97.28
  • - $0.90
  • - 0.92%
  • Category
  • Small Cap Growth Equities

VEXRX - Profile

Vitals

  • YTD Return 10.0%
  • 3 Yr Annualized Return 9.8%
  • 5 Yr Annualized Return 13.0%
  • Net Assets $13.9 B
  • Holdings in Top 10 8.7%

52 WEEK LOW AND HIGH

$97.28
$86.43
$98.18

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.31%

SALES FEES

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

BROKERAGE FEES

  • Turnover 76.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

$50,000

Investment Themes

CATEGORY

Small Cap Growth Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Small Growth

Distributions

  • YTD Total Return 10.0%
  • 3 Yr Annualized Total Return 9.8%
  • 5 Yr Annualized Total Return 13.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.57%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Vanguard Explorer Fund
  • Fund Family Name Vanguard
  • Inception Date Nov 12, 2001
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Chad Meade

Fund Description

The Vanguard Explorer Fund Admiral Shares (VEXRX) is a low-cost, actively managed fund that aims to aggressively grow investor capital by betting on small-cap U.S. companies. The fund uses both fundamental and quantitative screens to find undervalued growth stocks. VEXRX also holds a small portion of its assets in stock index futures and ETFs to manage cash flows.

With its focus on riskier small-cap stocks, VEXRX makes for a great subcore position in a diversified portfolio. The fund is managed by Chartwell Investment Partners, Granahan Investment Management, Vanguard Equity Investment Group, Wellington Management Company, Kalmar Investment Advisers, Century Capital Management, Stephens Investment Management Group and Arrowpoint Partners.

VEXRX - Performance

Return Ranking - Trailing

Period VEXRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 10.0% -81.5% 72.9% 27.94% 2
1 Yr 19.1% -22.5% 49.1% 33.65% 2
3 Yr 9.8% * -11.1% 23.7% 43.57% 3
5 Yr 13.0% * -9.9% 20.2% 32.44% 2
10 Yr 10.3% * -8.2% 14.9% 31.91% 2

* Annualized


Return Ranking - Calendar

Period VEXRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 10.0% -73.6% 37.0% 55.74% 3
2016 7.5% -49.0% 25.7% 40.10% 2
2015 -13.5% -70.7% 35.1% 63.31% 4
2014 -10.1% -41.2% 46.6% 63.86% 4
2013 30.1% -17.6% 61.3% 46.64% 3

Total Return Ranking - Trailing

Period VEXRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 10.0% -81.5% 72.9% 28.03% 2
1 Yr 19.1% -31.1% 291.3% 27.94% 2
3 Yr 9.8% * -43.2% 166.8% 39.45% 2
5 Yr 13.0% * -10.9% 20.2% 30.30% 2
10 Yr 10.3% * -4.9% 14.9% 30.75% 2

* Annualized


Total Return Ranking - Calendar

Period VEXRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 10.0% -73.6% 37.0% 56.01% 3
2016 7.5% -49.0% 25.7% 41.86% 3
2015 -4.5% -37.2% 66.8% 64.10% 4
2014 4.8% -23.4% 6103.1% 36.51% 2
2013 77.1% -32.6% 1073.2% 19.62% 1

NAV & Total Return History

VEXRX - Holdings

Filings data as of: Mar 31, 2018

Concentration Analysis

VEXRX Category Low Category High VEXRX % Rank Quintile
Net Assets 13.9 B 412 K 22.8 B 0.47% 1
Number of Holdings 547 1 3426 2.36% 1
Net Assets in Top 10 1.21 B -2.31 M 4.32 B 0.94% 1
Weighting of Top 10 8.7% 0.0% 100.1% 37.32% 5

Top 10 Holdings

  1. Trinet Group Inc 0.93%
  2. athenahealth Inc 0.92%
  3. Insulet Corp 1.00%
  4. Icon PLC 0.95%
  5. 2U Inc 0.87%
  6. Kirby Corp 0.76%
  7. Vanguard Small-Cap ETF 1.29%
  8. Sensata Technologies Holding PLC 0.70%
  9. GrubHub Inc 0.63%
  10. Medidata Solutions Inc 0.62%

Asset Allocation

Weighting Category Low Category High VEXRX % Rank Quintile
Stocks
95.42% 0.00% 101.84% 23.94% 4
Cash
4.27% -1.85% 100.00% 8.66% 1
Other
0.31% -3.55% 10.05% 7.09% 1
Preferred Stocks
0.00% 0.00% 10.15% 3.31% 1
Convertible Bonds
0.00% 0.00% 28.89% 1.26% 1
Bonds
0.00% -8.02% 81.95% 1.89% 1

Stock Sector Breakdown

Weighting Category Low Category High VEXRX % Rank Quintile
Technology
25.10% 0.97% 76.21% 18.27% 3
Industrials
17.89% 0.73% 31.20% 11.50% 2
Consumer Cyclical
15.11% 0.49% 28.51% 11.81% 2
Healthcare
14.55% 0.00% 66.00% 24.41% 4
Financial Services
7.10% -2.02% 26.78% 23.78% 4
Basic Materials
4.25% 0.00% 15.07% 21.42% 4
Real Estate
3.96% -0.36% 10.92% 8.82% 2
Consumer Defense
3.83% -1.21% 12.48% 16.06% 3
Energy
1.98% 0.00% 16.28% 16.85% 3
Communication Services
1.09% -0.97% 6.60% 10.24% 2
Utilities
0.53% -0.44% 4.48% 9.76% 2

Stock Geographic Breakdown

Weighting Category Low Category High VEXRX % Rank Quintile
US
92.46% 0.00% 100.00% 25.20% 4
Non US
2.96% 0.00% 90.81% 16.06% 3

VEXRX - Expenses

Operational Fees

VEXRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.31% 0.06% 27.39% 32.91% 1
Management Fee 0.30% 0.05% 1.50% 8.82% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.40% N/A N/A

Sales Fees

VEXRX Fees (% of AUM) Category Low Category High VEXRX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.50% N/A N/A

Trading Fees

VEXRX Fees (% of AUM) Category Low Category High VEXRX Rank Quintile
Max Redemption Fee N/A 0.00% 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.

VEXRX Fees (% of AUM) Category Low Category High VEXRX Rank Quintile
Turnover 76.00% 1.00% 818.00% 11.65% 3

VEXRX - Distributions

Dividend Yield Analysis

VEXRX Category Low Category High VEXRX % Rank Quintile
Dividend Yield 0.2% 0.00% 15.65% 12.14% 1

Dividend Distribution Analysis

VEXRX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

VEXRX Category Low Category High VEXRX % Rank Quintile
Net Income Ratio 0.57% -20.74% 2.14% 2.36% 1

Capital Gain Distribution Analysis

VEXRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

VEXRX - Managers

Chad Meade

Manager

Start Date

Jun 16, 2014

Tenure

3.87

Tenure Rank

12.9%

Mr. Meade, Portfolio Manager, joined Arrowpoint Asset Management, LLC in May 2013. Mr. Prior to joining Arrowpoint, Mr. Meade served as an Equity Research Analyst, Co-Portfolio Manager and Executive Vice President AT Janus Capital (2001-2013). Prior to joining Janus Capital, he was a financial analyst for Goldman Sachs’ global investment research team. Chad graduated summa cum laude from Virginia Tech with a bachelor’s degree in Finance and was a member of the Omicron Delta Kappa Honor Society.


Brian A. Schaub

Manager

Start Date

Jun 16, 2014

Tenure

3.87

Tenure Rank

12.9%

Mr. Schaub, Portfolio Manager, joined Arrowpoint in May 2013. Prior to joining Arrowpoint, Mr. Schaub served as an Equity Research Analyst, Co-Portfolio Manager and Executive Vice President at Janus Capital (2000-2013). Brian graduated cum laude from Williams College with a bachelor’s degree in Economics and won the Arthur B. Graves, Class of 1858, Essay Prize in Economics for his work on Dell Computer. He holds the Chartered Financial Analyst designation.


Kenneth L. Abrams

Manager

Start Date

Feb 01, 1994

Tenure

24.26

Tenure Rank

0.5%

Kenneth L. Abrams, Senior Managing Director and Equity Portfolio Manager at Wellington Management Company LLP. He has worked in investment management with Wellington Management since 1986. Education: B.A. and M.B.A., Stanford University.


James P. Stetler

Manager

Start Date

Feb 17, 2012

Tenure

6.2

Tenure Rank

10.2%

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


Daniel J. Fitzpatrick

Manager

Start Date

Feb 24, 2014

Tenure

4.18

Tenure Rank

12.5%

Daniel J. Fitzpatrick, CFA, Senior Managing Director and Equity Portfolio Manager at Wellington Management Company LLP. He has worked in investment management since 1997, has been with Wellington Management since 1998. Education: B.S., Boston College.


Binbin Guo

Manager

Start Date

Feb 25, 2016

Tenure

2.18

Tenure Rank

15.3%

Binbin Guo, Ph.D., Principal of The Vanguard Group, Inc. and head of the Alpha Equity Investment team within Vanguard’s Quantitative Equity Group. He oversees the active quantitative equity funds and separately managed equity accounts. He has been with Vanguard since 2007. Education: B.S. and M.S., Tsinghua University, China; Ph.D. and M.Phil., Yale University.


Aram E. Green

Manager

Start Date

Mar 20, 2017

Tenure

1.11

Tenure Rank

16.8%

15 years of investment industry experience; Joined ClearBridge Investments in 2006 Hygrove Partners, LLC - Equity Analyst iCollege - Co-founder, Executive Vice President; BA from Union College


Jeffrey J. Russell

Manager

Start Date

Mar 20, 2017

Tenure

1.11

Tenure Rank

16.8%

35 years of investment industry experience; Joined a predecessor firm in 1990; Member of the ClearBridge Management Committee; Member of the New York Society of Security Analysts Member of the CFA Institute; Drexel Burnham Lambert - International Portfolio Manager, a Media Analyst and a Global Portfolio Manager MBA from the Wharton School at the University of Pennsylvania; BS in Civil Engineering from the Massachusetts Institute of Technology.


Brian M. Angerame

Manager

Start Date

Mar 20, 2017

Tenure

1.11

Tenure Rank

16.8%

22 years of investment industry experience; Joined a predecessor organization in 2000; Member of the New York Society of Security Analysts Prudential Investments - Analyst; Assisted in management of Prudential Real Estate Securities Fund; BA in Government from Dartmouth College.


Derek J. Deutsch

Manager

Start Date

Mar 20, 2017

Tenure

1.11

Tenure Rank

16.8%

Derek co-manages the Mid Cap, Mid Cap Growth, SMID Cap Growth and Sustainability Leaders Strategy products. Derek has 18 years of investment industry experience. He joined a predecessor organization in 1999, and spent six years as an equity research analyst responsible for the health care sector. Prior to joining the firm, Derek worked as a special assistant at the U.S. Department of Health and Human Services in Washington, D.C., and also as a journalist covering health care policy for the American Political Network. Derek earned a BA from Brown University and an MBA from Georgetown University. He is a member of the CFA Institute and of the New York Society of Security Analysts. Experience 18 years of investment industry experience Joined a predecessor organization in 1999 Member of the CFA Institute Member of the New York Society of Security Analysts Special Assistant, U.S. Department of Health and Human Services, Washington, DC Journalist, health care policy, American Political Network, Washington, DC MBA from Georgetown University BA from Brown University


Ryan Edward Crane

Manager

Start Date

Aug 12, 2013

Tenure

4.72

Tenure Rank

11.6%

Ryan Crane is the Chief Investment Officer of Stephens Investment Management Group ("SIMG"). He also serves as the Lead Portfolio Manager for SIMG's Small Cap Growth, Mid Cap Growth, Small-Mid Cap Core Growth and Small-Mid Cap Select Growth Strategies as well as two sub-advised mutual funds, the American Beacon Stephens Small Cap Growth Fund and the American Beacon Stephens Mid-Cap Growth Fund. Prior to joining SIMG in 2004, Ryan had been at AIM Capital Management since 1994, where he was a Senior Portfolio Manager for the AIM Small Cap Growth Fund and the team leader for the small/mid-cap gro


Tenure Analysis

Category Low

0.0

Category High

45.5

Category Average

6.9

Category Mode

3.3