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VWNAX Vanguard Windsor™ II Admiral™

  • Fund
  • VWNAX
  • Price as of: Dec 09, 2016
  • $67.56
  • + $0.44
  • + 0.66%
  • Category
  • Large Cap Value Equities

VWNAX - Profile

Vitals

  • YTD Return 13.7%
  • 3 Yr Annualized Return 7.0%
  • 5 Yr Annualized Return 13.3%
  • Net Assets $46.7 B
  • Holdings in Top 10 23.6%

52 WEEK LOW AND HIGH

$67.56
$52.61
$67.56

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.26%

SALES FEES

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

BROKERAGE FEES

  • Turnover 26.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

$50,000

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 15.0%
  • 3 Yr Annualized Total Return 7.0%
  • 5 Yr Annualized Total Return 13.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.20%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name Vanguard Windsor™ II Fund
  • Fund Family Name Vanguard
  • Inception Date May 14, 2001
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Jeff G. Fahrenbruch

Fund Description

The Vanguard Windsor II Fund Admiral Shares (VWNAX) is a low-cost, actively managed fund that bets on value equities. With a focus on stock selection and risk control, managers of the fund use fundamental and quantitative approaches to select large- and mid-cap stocks that exhibit value tendencies. VWNAX hopes to exploit these factors in order to create income and grow an investor’s portfolio.

VWNAX’s low costs and value pull make it a great core fund for investors. The fund is comanaged by Barrow, Hanley, Mewhinney & Strauss, Vanguard Equity Investment Group, Hotchkiss and Wiley Capital Management, Lazard Asset Management and Sanders Capital.

VWNAX - Performance

Return Ranking - Trailing

Period VWNAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 13.7% -75.5% 192.5% 41.19% 3
1 Yr 8.9% -47.2% 27.7% 45.83% 3
3 Yr 7.0% * -15.3% 14.2% 42.96% 3
5 Yr 13.3% * -0.1% 17.6% 39.47% 3
10 Yr 5.9% * -0.9% 8.9% 33.54% 2

* Annualized


Return Ranking - Calendar

Period VWNAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -10.2% -47.3% 0.6% 53.55% 4
2014 1.5% -46.4% 14.8% 58.55% 4
2013 25.1% -13.6% 45.0% 54.97% 3
2012 13.9% -22.7% 35.8% 31.23% 2
2011 0.4% -34.9% 13.0% 22.29% 2

Total Return Ranking - Trailing

Period VWNAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 15.0% -75.5% 199.7% 38.09% 2
1 Yr 8.9% -51.7% 110.4% 38.29% 2
3 Yr 7.0% * -11.2% 19.9% 36.28% 2
5 Yr 13.3% * -0.1% 17.6% 33.99% 2
10 Yr 5.9% * -0.9% 8.9% 32.06% 2

* Annualized


Total Return Ranking - Calendar

Period VWNAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -3.3% -26.0% 5.6% 32.87% 2
2014 13.5% -14.3% 39.5% 30.57% 2
2013 42.2% 0.0% 289.2% 39.53% 2
2012 25.4% 0.0% 528.1% 25.12% 2
2011 4.5% -84.2% 231.9% 21.05% 2

NAV & Total Return History

VWNAX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

VWNAX Category Low Category High VWNAX % Rank Quintile
Net Assets 46.7 B 273 K 84.6 B 0.38% 1
Number of Holdings 279 1 999 2.00% 1
Net Assets in Top 10 10.9 B 0 24.7 B 0.38% 1
Weighting of Top 10 23.6% 0.0% 100.1% 22.74% 4

Top 10 Holdings

  1. Microsoft Corp 3.33%
  2. JPMorgan Chase & Co 2.36%
  3. Pfizer Inc 2.70%
  4. Wells Fargo & Co 1.95%
  5. Medtronic PLC 2.09%
  6. Philip Morris International Inc 2.17%
  7. Bank of America Corporation 2.69%
  8. United Technologies Corp 2.12%
  9. Johnson Controls International PLC 2.21%
  10. PNC Financial Services Group Inc 1.98%

Asset Allocation

Weighting Category Low Category High VWNAX % Rank Quintile
Stocks
97.74% 0.00% 132.93% 11.51% 3
Cash
2.15% -32.93% 100.00% 13.42% 3
Other
0.11% -2.64% 25.55% 6.66% 2
Convertible Bonds
0.00% 0.00% 6.90% 1.14% 1
Preferred Stocks
0.00% 0.00% 18.87% 3.33% 1
Bonds
0.00% -0.12% 75.03% 4.57% 2

Stock Sector Breakdown

Weighting Category Low Category High VWNAX % Rank Quintile
Healthcare
21.53% 0.00% 29.91% 1.14% 1
Financial Services
21.03% 0.00% 38.34% 17.25% 4
Technology
12.95% 0.00% 29.49% 10.20% 2
Energy
10.41% 0.00% 29.15% 13.82% 3
Consumer Cyclical
9.87% 0.00% 34.71% 9.63% 2
Industrials
8.16% 0.00% 31.48% 20.97% 4
Consumer Defense
7.84% -1.44% 25.28% 14.01% 3
Communication Services
3.08% -0.70% 10.47% 14.39% 4
Basic Materials
1.66% 0.00% 14.96% 19.64% 4
Utilities
1.04% -0.70% 78.64% 20.69% 4
Real Estate
0.15% 0.00% 19.44% 17.73% 4

Stock Geographic Breakdown

Weighting Category Low Category High VWNAX % Rank Quintile
US
87.79% 0.00% 132.93% 20.55% 4
Non US
9.95% 0.00% 98.98% 6.28% 1

VWNAX - Expenses

Operational Fees

VWNAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.26% 0.05% 21.67% 23.12% 1
Management Fee 0.24% 0.00% 1.20% 6.18% 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

VWNAX Fees (% of AUM) Category Low Category High VWNAX 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

VWNAX Fees (% of AUM) Category Low Category High VWNAX 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.

VWNAX Fees (% of AUM) Category Low Category High VWNAX Rank Quintile
Turnover 26.00% 0.00% 221.00% 11.80% 2

VWNAX - Distributions

Dividend Yield Analysis

VWNAX Category Low Category High VWNAX % Rank Quintile
Dividend Yield 1.7% 0.00% 3.58% 0.43% 1

Dividend Distribution Analysis

VWNAX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

VWNAX Category Low Category High VWNAX % Rank Quintile
Net Income Ratio 2.20% -1.41% 3.83% 6.76% 1

Capital Gain Distribution Analysis

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

VWNAX - Managers

Jeff G. Fahrenbruch

Manager

Start Date

Feb 27, 2013

Tenure

3.76

Tenure Rank

9.6%

Jeff G. Fahrenbruch, CFA, Managing Director of Barrow, Hanley. He has worked in investment management since 1997; has been with Barrow, Hanley since 2002; has managed investment portfolios since 2012; and has served as an associate portfolio manager for a portion of the Fund since 2013. Education: B.B.A., University of Texas.


David W. Ganucheau

Manager

Start Date

Feb 27, 2013

Tenure

3.76

Tenure Rank

9.6%

David W. Ganucheau, CFA, Managing Director of Barrow, Hanley. He has worked in investment management since 1996; has been with Barrow, Hanley since 2004; has managed investment portfolios since 2012; and has served as an associate portfolio manager for a portion of the Fund since 2013. Education: B.B.A., Southern Medhodist University.


Sheldon J. Lieberman

Manager

Start Date

Dec 11, 2003

Tenure

12.98

Tenure Rank

3.1%

In his role as portfolio manager, Mr. Lieberman plays an integral part in the investment research review and decision-making process and represents the Large Cap Fundamental Value and Large Cap Diversified Value strategies to current and prospective clients. He also provides expertise and insight into the energy and technology sectors. Prior to joining the firm, Mr. Lieberman was the chief investment officer for the Los Angeles County Employees Retirement Association (“LACERA”). At LACERA, he was responsible for overseeing the fund's investment activity, as well as developing and implementing investment policy, strategy and guidelines. Prior to his position at LACERA, he was manager of trust investments at Lockheed Corporation. Mr. Lieberman received his BA from the University of California, Los Angeles and MBA from California State University, Northridge.


Lewis A. Sanders

Manager

Start Date

Jan 13, 2010

Tenure

6.88

Tenure Rank

6.5%

Lewis A. Sanders, Chief Executive Officer and Co-Chief Investment Officer of Sanders Capital, LLC. He has worked in investment management since 1968; has managed investment portfolios since 1981; has been with Sanders since 2009; and has co-managed a portion of the Fund since 2010. Education: B.S., Columbia University


John P. Mahedy

Manager

Start Date

Jan 13, 2010

Tenure

6.88

Tenure Rank

6.5%

Mahedy was named Co-CIO -- US Value equities in 2003. He continues to serve as director of research -- US Value Equities, a position he has held since 2001. Previously, he was a senior research analyst in Bernsteins institutional research and brokerage unit, covering the domestic and international energy industry from 1995 to 2001. He has been with Sanders since 2009; and has co-managed a portion of the Fund since 2010. Mahedy holds the Chartered Financial Analyst designation. Education: B.S. and M.B.A., New York University.


Christopher H. Blake

Manager

Start Date

Jan 08, 2007

Tenure

9.9

Tenure Rank

4.7%

Christopher Blake Managing Director, Portfolio Manager/Analyst Lazard Asset Management LLC (New York) Christopher Blake is a Portfolio Manager/Analyst on the U.S. Strategic Equity (including the North American Equity Fund, the brand name of the U.S. Strategic Equity offshore fund), U.S. Equity Concentrated and U.S. Mid Cap Equity portfolio teams. He began working in the investment field in 1995 as a Lazard Research Analyst. He has a BSBA in Finance from the University of Denver.


James P. Stetler

Manager

Start Date

Feb 27, 2012

Tenure

4.76

Tenure Rank

8.5%

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.


Andrew D. Lacey

Manager

Start Date

Jan 08, 2007

Tenure

9.9

Tenure Rank

4.7%

Andrew Lacey Deputy Chairman, U.S. and Global Strategies Lazard Asset Management LLC (New York) Andrew Lacey is Deputy Chairman of Lazard Asset Management responsible for oversight of the firm's U.S. and global strategies. He is also a Portfolio Manager/Analyst on various U.S. and global equity teams. Andrew began working in the investment field in 1995 when he joined Lazard as a Research Analyst covering the technology sector. From 1989 to 1994, Andrew was a teacher at the Pingry School and Buckingham Browne & Nichols.


Anatoly Shtekhman

Manager

Start Date

Feb 25, 2016

Tenure

0.76

Tenure Rank

13.0%

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

Feb 25, 2016

Tenure

0.76

Tenure Rank

13.0%

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.


George H. Davis

Manager

Start Date

Dec 11, 2003

Tenure

12.98

Tenure Rank

3.1%

In his role as portfolio manager, Mr. Davis plays an integral part in the investment research review and decision-making process. He coordinates the day-to-day management of Large Cap Fundamental Value, Large Cap Diversified Value, Mid-Cap Value and Value Opportunities portfolios, represents these strategies to current and prospective clients, as well as provides expertise and insight into the capital goods and financials sectors. Prior to joining the firm, Mr. Davis was an assistant to the senior partner of RCM Capital Management. He began his career in equity research with internships at Cramer, Rosenthal & McGlynn and Fidelity Management & Research. Mr. Davis received his BA in Economics and History and MBA from Stanford University.


Tenure Analysis

Category Low

0.0

Category High

38.3

Category Average

7

Category Mode

1.9