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VPGDX Vanguard Managed Payout Investor

  • Fund
  • VPGDX
  • Price as of: Dec 01, 2016
  • $17.69
  • - $0.03
  • - 0.17%
  • Category
  • Retirement Income

VPGDX - Profile

Vitals

  • YTD Return 2.1%
  • 3 Yr Annualized Return 4.3%
  • 5 Yr Annualized Return 7.2%
  • Net Assets $1.65 B
  • Holdings in Top 10 100.0%

52 WEEK LOW AND HIGH

$17.69
$16.30
$18.31

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.02%

SALES FEES

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

BROKERAGE FEES

  • Turnover 29.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$25,000

IRA

$25,000

Investment Themes

CATEGORY

Retirement Income
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--85%+ Equity

Distributions

  • YTD Total Return 5.7%
  • 3 Yr Annualized Total Return 4.3%
  • 5 Yr Annualized Total Return 7.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.64%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard Managed Payout Fund
  • Fund Family Name Vanguard
  • Inception Date May 02, 2008
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager John Ameriks

Fund Description

The Vanguard Managed Payout Fund Investor Shares (VPGDX) is an actively managed, moderately allocated fund that is designed to provide monthly cash distributions to investors. VPGDX is a “fund of funds” and invests in eight other Vanguard funds as well as commodities in an attempt to meet its goals. These holdings can change as management of the fund sees fit. Each year, VPGDX will declare a target dividend amount based on previous and estimated performance of the fund. This amount could change wildly from year to year.

Given its focus on income, VPGDX is best suited for investors in retirement and those looking to have a certain level of income. The fund is managed by Vanguard.

VPGDX - Performance

Return Ranking - Trailing

Period VPGDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.1% -4.2% 7.5% 66.47% 4
1 Yr 3.9% -11.3% 9.2% 15.87% 1
3 Yr 4.3% * -3.9% 4.3% 1.27% 1
5 Yr 7.2% * -2.6% 7.2% 0.66% 1
10 Yr N/A * -0.3% 5.4% N/A N/A

* Annualized


Return Ranking - Calendar

Period VPGDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -8.3% -15.0% 0.0% 77.25% 5
2014 1.9% -26.7% 6.0% 27.27% 2
2013 5.2% -2.4% 24.8% 16.00% 1
2012 6.1% 0.0% 15.7% 32.41% 3
2011 -3.8% -9.2% 3.1% 69.53% 5

Total Return Ranking - Trailing

Period VPGDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 5.7% -4.2% 7.5% 8.67% 1
1 Yr 3.9% -8.3% 9.2% 17.46% 1
3 Yr 4.3% * -0.3% 5.5% 2.55% 1
5 Yr 7.2% * 0.9% 13.1% 5.92% 1
10 Yr N/A * 1.6% 6.6% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period VPGDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.7% -7.3% 0.4% 22.75% 2
2014 6.8% 0.0% 9.6% 10.39% 1
2013 21.1% -0.4% 33.2% 2.00% 1
2012 16.0% 0.0% 22.8% 7.59% 1
2011 1.1% -5.5% 8.0% 67.19% 4

NAV & Total Return History

VPGDX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

VPGDX Category Low Category High VPGDX % Rank Quintile
Net Assets 1.65 B 1.35 M 10.7 B 3.68% 1
Number of Holdings 11 2 9868 14.21% 4
Net Assets in Top 10 1.68 B 1.13 M 10.7 B 1.58% 1
Weighting of Top 10 100.0% 2.0% 105.2% 2.11% 1

Top 10 Holdings

  1. Vanguard Total Stock Mkt Idx Inv 20.01%
  2. Vanguard Global Minimum Volatility Inv 7.53%
  3. Vanguard Total Intl Stock Index Inv 20.25%
  4. Vanguard Total Bond Market II Idx Inv 12.16%
  5. Vanguard Market Neutral Inv 6.99%
  6. Vanguard Emerging Mkts Stock Idx Inv 5.05%
  7. Vanguard Total Intl Bd Idx Investor 5.90%
  8. Vanguard Alternative Strategies Investor 12.47%
  9. Vanguard Mpf Portfolio 5.09%
  10. Vanguard Value Index Inv 4.56%

Asset Allocation

Weighting Category Low Category High VPGDX % Rank Quintile
Stocks
61.76% 0.00% 98.34% 2.11% 1
Bonds
17.56% 0.00% 98.48% 30.53% 5
Cash
13.85% -18.25% 63.06% 10.53% 2
Other
6.76% -1.26% 34.16% 3.16% 1
Preferred Stocks
0.06% 0.00% 4.85% 13.16% 3
Convertible Bonds
0.01% 0.00% 15.15% 12.11% 3

Stock Sector Breakdown

Weighting Category Low Category High VPGDX % Rank Quintile
Industrials
17.12% 0.08% 17.12% 0.56% 1
Healthcare
10.72% 0.09% 12.65% 1.11% 1
Consumer Cyclical
10.40% 0.09% 13.63% 1.67% 1
Financial Services
5.87% 0.00% 13.46% 6.67% 1
Consumer Defense
5.12% 0.07% 10.24% 2.78% 1
Real Estate
2.87% 0.00% 11.12% 10.00% 2
Technology
2.85% 0.00% 15.70% 25.56% 5
Utilities
2.80% 0.02% 2.80% 0.56% 1
Basic Materials
1.91% 0.00% 4.66% 6.67% 1
Communication Services
0.79% 0.00% 2.79% 20.56% 4
Energy
0.65% 0.00% 5.76% 27.22% 5

Stock Geographic Breakdown

Weighting Category Low Category High VPGDX % Rank Quintile
US
36.31% 0.00% 68.29% 3.16% 1
Non US
25.45% 0.00% 30.05% 1.58% 1

Bond Sector Breakdown

Weighting Category Low Category High VPGDX % Rank Quintile
Cash & Equivalents
13.85% -10.62% 44.14% 11.58% 2
Government
9.91% 0.00% 98.48% 26.84% 5
Corporate
4.28% 0.00% 44.95% 28.95% 5
Securitized
2.82% 0.00% 33.22% 28.42% 5
Municipal
0.12% 0.00% 6.57% 16.32% 3
Derivative
0.00% -26.92% 6.59% 3.68% 2

Bond Geographic Breakdown

Weighting Category Low Category High VPGDX % Rank Quintile
US
10.89% 0.00% 98.48% 30.00% 5
Non US
6.67% 0.00% 18.33% 14.74% 3

VPGDX - Expenses

Operational Fees

VPGDX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.02% 0.00% 49.40% 55.79% 1
Management Fee 0.00% 0.00% 0.80% 11.58% 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

VPGDX Fees (% of AUM) Category Low Category High VPGDX Rank Quintile
Front Load N/A 2.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

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

VPGDX Fees (% of AUM) Category Low Category High VPGDX Rank Quintile
Turnover 29.00% 10.00% 179.00% 13.16% 2

VPGDX - Distributions

Dividend Yield Analysis

VPGDX Category Low Category High VPGDX % Rank Quintile
Dividend Yield 0.7% 0.01% 1.14% 8.14% 1

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

VPGDX Category Low Category High VPGDX % Rank Quintile
Net Income Ratio 1.64% -0.82% 10.47% 36.84% 3

Capital Gain Distribution Analysis

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

VPGDX - Managers

John Ameriks

Manager

Start Date

Mar 28, 2014

Tenure

2.6

Tenure Rank

10.5%

John Ameriks, Ph.D., Principal of Vanguard and head of Vanguard’s Active Equity Group. He has worked in investment management since 1996, has been with Vanguard since 2003, has served on the Fund’s governance committee since 2008. Education: A.B., Stanford University; Ph.D., Columbia University.


Anatoly Shtekhman

Manager

Start Date

Apr 26, 2016

Tenure

0.52

Tenure Rank

13.5%

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.


Tenure Analysis

Category Low

0.0

Category High

14.1

Category Average

5.83

Category Mode

4.8