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VEXRX Vanguard Explorer Adm

  • Fund
  • VEXRX
  • Price as of: Aug 22, 2017
  • $87.81
  • + $1.11
  • + 1.28%
  • Category
  • Small Cap Growth Equities

VEXRX - Profile

Vitals

  • YTD Return 9.2%
  • 3 Yr Annualized Return 6.8%
  • 5 Yr Annualized Return 14.1%
  • Net Assets $12.4 B
  • Holdings in Top 10 9.1%

52 WEEK LOW AND HIGH

$87.81
$75.87
$91.92

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.33%

SALES FEES

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

BROKERAGE FEES

  • Turnover 66.00%

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 9.2%
  • 3 Yr Annualized Total Return 6.8%
  • 5 Yr Annualized Total Return 14.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.58%
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 9.2% -81.5% 25.0% 40.95% 3
1 Yr 23.2% -22.5% 49.1% 36.33% 2
3 Yr 6.8% * -11.1% 16.8% 45.33% 3
5 Yr 14.1% * -9.9% 19.1% 20.72% 2
10 Yr 7.2% * -8.2% 13.1% 42.88% 3

* Annualized


Return Ranking - Calendar

Period VEXRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 7.5% -71.6% 25.7% 40.66% 3
2015 -13.5% -70.7% 14.9% 60.27% 4
2014 -10.1% -57.2% 35.1% 60.25% 4
2013 30.1% -32.6% 61.3% 50.00% 3
2012 11.2% -100.0% 30.8% 41.07% 3

Total Return Ranking - Trailing

Period VEXRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 9.2% -81.5% 25.0% 41.08% 3
1 Yr 23.2% -31.1% 291.3% 30.48% 2
3 Yr 6.8% * -43.2% 166.8% 42.56% 3
5 Yr 14.1% * -10.4% 19.1% 18.92% 1
10 Yr 7.2% * -5.8% 13.1% 40.35% 3

* Annualized


Total Return Ranking - Calendar

Period VEXRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 7.5% -71.6% 25.7% 42.50% 3
2015 -4.5% -37.2% 38.5% 62.59% 4
2014 4.8% -23.4% 66.8% 32.11% 2
2013 77.1% -32.6% 6103.1% 19.96% 2
2012 31.0% -100.0% 400.5% 23.01% 2

NAV & Total Return History

VEXRX - Holdings

Filings data as of: Mar 31, 2017

Concentration Analysis

VEXRX Category Low Category High VEXRX % Rank Quintile
Net Assets 12.4 B 35.4 K 19.9 B 0.47% 1
Number of Holdings 602 2 3470 2.05% 1
Net Assets in Top 10 1.11 B -2.31 M 3.34 B 0.94% 1
Weighting of Top 10 9.1% 4.3% 100.1% 36.06% 5

Top 10 Holdings

  1. Cadence Design Systems Inc 0.93%
  2. Cardtronics PLC 0.91%
  3. Vanguard Small-Cap ETF 1.66%
  4. Clean Harbors Inc 0.75%
  5. Trinet Group Inc 0.78%
  6. athenahealth Inc 0.91%
  7. Insulet Corp 0.87%
  8. Icon PLC 0.81%
  9. Medidata Solutions Inc 0.75%
  10. Carter's Inc 0.69%

Asset Allocation

Weighting Category Low Category High VEXRX % Rank Quintile
Stocks
93.69% 10.48% 100.77% 26.14% 5
Cash
6.28% -0.77% 40.84% 4.25% 1
Other
0.03% -5.76% 10.96% 12.60% 3
Preferred Stocks
0.00% 0.00% 10.15% 3.78% 1
Convertible Bonds
0.00% 0.00% 28.89% 0.94% 1
Bonds
0.00% -8.02% 76.39% 1.89% 1

Stock Sector Breakdown

Weighting Category Low Category High VEXRX % Rank Quintile
Technology
22.78% 1.07% 66.88% 22.36% 4
Industrials
17.76% 0.61% 27.93% 9.76% 2
Consumer Cyclical
15.23% 0.17% 31.91% 11.65% 2
Healthcare
14.26% 1.10% 67.40% 23.31% 4
Financial Services
7.95% -2.02% 27.57% 18.74% 3
Consumer Defense
4.52% -2.12% 14.32% 13.86% 2
Real Estate
4.30% -4.19% 15.09% 9.61% 2
Basic Materials
3.26% 0.00% 14.27% 24.57% 4
Energy
2.28% 0.00% 14.28% 13.86% 2
Communication Services
1.02% -2.78% 6.07% 10.87% 2
Utilities
0.32% -0.44% 6.82% 11.02% 2

Stock Geographic Breakdown

Weighting Category Low Category High VEXRX % Rank Quintile
US
90.53% 3.92% 100.00% 27.09% 4
Non US
3.16% 0.00% 84.33% 13.54% 2

VEXRX - Expenses

Operational Fees

VEXRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.33% 0.06% 27.39% 33.07% 1
Management Fee 0.32% 0.05% 1.50% 8.98% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.45% 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 66.00% 4.00% 818.00% 13.07% 3

VEXRX - Distributions

Dividend Yield Analysis

VEXRX Category Low Category High VEXRX % Rank Quintile
Dividend Yield 0.2% 0.00% 15.65% 11.03% 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 0.58% -2.29% 2.19% 4.72% 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

3.04

Tenure Rank

12.4%

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

3.04

Tenure Rank

12.4%

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

23.42

Tenure Rank

0.5%

Mr. Abrams is a Senior Managing Director and Equity Portfolio Manager at Wellington Management Company LLP. He has specialized in small company investing for over 25 years. Prior to joining Wellington's Small Cap Opportunities Team in 1990, he worked as a research analyst on Wellington's Emerging Companies Team for four years. Before that, he worked for two years as a business analyst at McKinsey & Company consulting on strategic management issues. Mr. Abrams earned his MBA and his BA from Stanford University.


Ryan Edward Crane

Manager

Start Date

Aug 12, 2013

Tenure

3.88

Tenure Rank

11.2%

Ryan E. Crane,CFA. Education:B.S., University of Houston. Ryan Crane is the CIO of Stephens Investment Management Group and the Senior Portfolio Manager. He has worked in investment management since 1995, has been with SIMG since 2005. Prior to joining SIMG in 2004, Ryan was Senior Portfolio Manager for AIM Capital Management, Inc., and was the lead manager and team leader of the small/mid-cap growth investment team.


James P. Stetler

Manager

Start Date

Feb 17, 2012

Tenure

5.37

Tenure Rank

9.4%

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

3.35

Tenure Rank

12.1%

Daniel J. Fitzpatrick, CFA, is Managing Director and Equity Research Analyst. As an equity research analyst in Global Equity Portfolio Management on the Small Cap Opportunities Team, DJ conducts fundamental analysis on small cap equity investments, focusing on the info tech and industrials sectors. His research supports the investment decision making for a range of portfolios managed for clients of the firm. He works in our Boston office. Prior to joining Wellington Management in 1998, DJ worked as an equity research associate at Advest, Inc. (1997 –1998). DJ earned his BS in finance from Boston College (1996). Additionally, he holds the Chartered Financial Analyst designation.


Binbin Guo

Manager

Start Date

Feb 25, 2016

Tenure

1.35

Tenure Rank

15.0%

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.


Aram E. Green

Manager

Start Date

Mar 20, 2017

Tenure

0.28

Tenure Rank

16.4%

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

0.28

Tenure Rank

16.4%

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

0.28

Tenure Rank

16.4%

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

0.28

Tenure Rank

16.4%

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


Tenure Analysis

Category Low

0.0

Category High

44.7

Category Average

6.54

Category Mode

2.5