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VMRAX Vanguard Morgan™ Growth Admiral™

  • Fund
  • VMRAX
  • Price as of: Aug 08, 2016
  • $79.73
  • - $0.28
  • - 0.35%
  • Category
  • Large Cap Growth Equities

VMRAX - Profile

Vitals

  • YTD Return 3.3%
  • 3 Yr Annualized Return 11.7%
  • 5 Yr Annualized Return 12.2%
  • Net Assets $11.4 B
  • Holdings in Top 10 23.5%

52 WEEK LOW AND HIGH

$79.73
$67.03
$86.27

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.27%

SALES FEES

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

BROKERAGE FEES

  • Turnover 41.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

N/A

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 3.3%
  • 3 Yr Annualized Total Return 11.7%
  • 5 Yr Annualized Total Return 12.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.93%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Vanguard Morgan™ Growth Fund
  • Fund Family Name Vanguard
  • Inception Date May 14, 2001
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Christopher J. Scarpa

VMRAX - Performance

Return Ranking - Trailing

Period VMRAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.3% -97.0% 17.4% 44.99% 3
1 Yr 1.1% -28.3% 24.3% 41.67% 3
3 Yr 11.7% * 0.2% 17.7% 23.99% 2
5 Yr 12.2% * 1.6% 16.2% 29.88% 2
10 Yr 8.3% * 0.4% 13.1% 38.89% 2

* Annualized


Return Ranking - Calendar

Period VMRAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.7% -38.0% 13.6% 36.42% 2
2014 N/A -0.7% 12.3% N/A N/A
2013 N/A 23.9% 43.4% N/A N/A
2012 N/A 10.8% 19.6% N/A N/A
2011 N/A -12.1% 12.5% N/A N/A

Total Return Ranking - Trailing

Period VMRAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.3% -97.0% 13.2% 44.68% 3
1 Yr 1.1% -28.3% 22.0% 32.99% 2
3 Yr 11.7% * -1.0% 17.7% 20.54% 2
5 Yr 12.2% * 0.4% 16.2% 26.60% 2
10 Yr 8.3% * -0.1% 13.1% 36.32% 2

* Annualized


Total Return Ranking - Calendar

Period VMRAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.7% -38.0% 17.4% 36.50% 2
2014 N/A -0.7% 13.1% N/A N/A
2013 N/A 32.4% 62.9% N/A N/A
2012 N/A 15.7% 23.1% N/A N/A
2011 N/A -14.3% 13.3% N/A N/A

NAV & Total Return History

VMRAX - Holdings

Filings data as of: Mar 31, 2016

Concentration Analysis

VMRAX Category Low Category High VMRAX % Rank Quintile
Net Assets 11.4 B 373 K 146 B 1.61% 1
Number of Holdings 317 1 2190 2.44% 1
Net Assets in Top 10 2.7 B 0 33.1 B 2.06% 1
Weighting of Top 10 23.5% 0.0% 150.9% 26.03% 5

Top 10 Holdings

  1. Apple Inc 4.77%
  2. Microsoft Corp 2.06%
  3. Alphabet Inc C 3.46%
  4. Facebook Inc A 2.89%
  5. The Home Depot Inc 1.55%
  6. Amazon.com Inc 2.50%
  7. Bristol-Myers Squibb Company 1.56%
  8. Visa Inc Class A 1.93%
  9. Verizon Communications Inc 1.39%
  10. PepsiCo Inc 1.39%

Asset Allocation

Weighting Category Low Category High VMRAX % Rank Quintile
Stocks
96.76% 0.00% 109.00% 13.24% 4
Cash
3.24% -9.00% 100.00% 8.35% 2
Other
0.00% -1.32% 24.55% 6.88% 3
Convertible Bonds
0.00% 0.00% 2.81% 0.84% 1
Preferred Stocks
0.00% 0.00% 4.61% 2.31% 1
Bonds
0.00% 0.00% 76.29% 2.89% 1

Stock Sector Breakdown

Weighting Category Low Category High VMRAX % Rank Quintile
Technology
27.03% -1.29% 52.19% 9.32% 2
Consumer Cyclical
19.42% -2.22% 41.71% 7.90% 2
Healthcare
16.31% -1.03% 98.63% 13.69% 3
Industrials
11.67% -0.37% 29.48% 9.32% 2
Consumer Defense
8.21% -1.43% 30.67% 13.75% 3
Financial Services
6.47% -2.38% 40.17% 20.82% 4
Communication Services
4.14% 0.00% 12.93% 8.68% 2
Real Estate
1.13% 0.00% 11.43% 9.96% 2
Basic Materials
1.07% -1.18% 12.09% 17.61% 4
Energy
0.83% -2.01% 16.80% 18.70% 4
Utilities
0.49% -0.18% 16.29% 6.75% 2

Stock Geographic Breakdown

Weighting Category Low Category High VMRAX % Rank Quintile
US
92.51% 0.00% 109.00% 14.46% 3
Non US
4.25% -0.01% 91.03% 12.60% 3

VMRAX - Expenses

Operational Fees

VMRAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.27% 0.00% 24.91% 16.72% 1
Management Fee 0.25% 0.00% 1.50% 4.88% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 1.00% N/A N/A

Sales Fees

VMRAX Fees (% of AUM) Category Low Category High VMRAX Rank Quintile
Front Load N/A 1.50% 8.50% N/A N/A
Deferred Load N/A 1.00% 5.50% N/A N/A

Trading Fees

VMRAX Fees (% of AUM) Category Low Category High VMRAX Rank Quintile
Max Redemption Fee N/A 0.05% 5.00% 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.

VMRAX Fees (% of AUM) Category Low Category High VMRAX Rank Quintile
Turnover 41.00% 0.00% 437.00% 9.13% 2

VMRAX - Distributions

Dividend Yield Analysis

VMRAX Category Low Category High VMRAX % Rank Quintile
Dividend Yield 0.7% 0.00% 2.85% 2.39% 1

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

VMRAX Category Low Category High VMRAX % Rank Quintile
Net Income Ratio 0.93% -5.94% 3.70% 4.31% 1

Capital Gain Distribution Analysis

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

VMRAX - Managers

Christopher J. Scarpa

Manager

Start Date

Dec 31, 2010

Tenure

5.59

Tenure Rank

7.1%

Mr. Scarpa is portfolio manager and vice president of Frontier. He has been employed in the investment area of Frontier since 2001.


Blair A. Boyer

Manager

Start Date

Jan 28, 2014

Tenure

2.51

Tenure Rank

10.1%

Blair A. Boyer is a managing director and a large cap growth equity portfolio manager. He joined Jennison Associates in March 1993. Prior to joining the Growth Equity team in 2003, Blair co-managed international equity portfolios for 10 years. During his tenure as an international equity portfolio manager, he managed the Jennison International Growth Fund from its inception in March 2000. Blair managed international equity portfolios at Bleichroeder from 1989 to 1993. Prior to that, he was a research analyst and then a senior portfolio manager in the Verus Capital division at Bleichroeder beginning in 1983. He received a BA in economics from Bucknell University and an MBA in finance from New York University.


Kathleen A. McCarragher

Manager

Start Date

Jan 08, 2007

Tenure

9.57

Tenure Rank

4.2%

McCarragher is a managing director and head of growth equity with Jennison, Ms. McCarragher joined Jennison Associates as an Executive Vice President and portfolio manager in May 1998. She was appointed Head of Growth Equity in January 2003. Previously, she was managing director and director at Weiss, Peck & Greer from 1992 to 1998. McCarragher joined the firm after 10 years with State Street Research and Management Company, initially as a research analyst responsible for health care, transports and financials, and then as a portfolio manager and member of the investment committee. Ms. McCarragher graduated summa cum laude from the University of Wisconsin-Eau Claire with a BBA and received her MBA from Harvard Business School.


Paul E. Marrkand

Manager

Start Date

Dec 30, 2005

Tenure

10.59

Tenure Rank

3.5%

Marrkand is a vice president and equity portfolio manager of Wellington Management. He has worked in investment management since 1987. Marrkand has managed equity portfolios since 2000 and has been with Wellington Management since 2005. Prior to joining Wellington Management, he was a managing director of the US All/Mid Cap Growth Team at Putnam Investments (1987-2005). Marrkand holds the Chartered Financial Analyst designation.


Stephen M. Knightly

Manager

Start Date

Nov 25, 2008

Tenure

7.68

Tenure Rank

5.4%

Steve joined Frontier in 1992 and became Vice President in December of 1994. Steve is a Chartered Financial Analyst.


James P. Stetler

Manager

Start Date

Dec 31, 2003

Tenure

12.59

Tenure Rank

2.4%

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.


Anatoly Shtekhman

Manager

Start Date

Jan 26, 2016

Tenure

0.51

Tenure Rank

12.0%

Anatoly Shtekhman, CFA, Portfolio Manager at Vanguard. He has been with Vanguard since 2007 and has managed investment portfolios and has co-managed a portion of the Fund since 2016. Education: B.S., University of Scranton; M.S., Boston College; M.B.A., The Wharton School of the University of Pennsylvania.


Binbin Guo

Manager

Start Date

Jan 26, 2016

Tenure

0.51

Tenure Rank

12.0%

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

48.6

Category Average

7.08

Category Mode

1.6