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Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vanguard Commodity Strategy Fund

VCMDX | Fund

$31.84

$2.62 B

12.42%

$3.96

0.16%

Vitals

YTD Return

22.4%

1 yr return

34.9%

3 Yr Avg Return

15.5%

5 Yr Avg Return

11.9%

Net Assets

$2.62 B

Holdings in Top 10

44.2%

52 WEEK LOW AND HIGH

$31.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.16%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 15.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$50,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vanguard Commodity Strategy Fund

VCMDX | Fund

$31.84

$2.62 B

12.42%

$3.96

0.16%

VCMDX - Profile

Distributions

  • YTD Total Return 22.4%
  • 3 Yr Annualized Total Return 15.5%
  • 5 Yr Annualized Total Return 11.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.79%
DIVIDENDS
  • Dividend Yield 12.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Vanguard Commodity Strategy Fund
  • Fund Family Name
    Vanguard
  • Inception Date
    Jun 25, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Admiral
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joshua Barrickman

Fund Description

The Fund employs an active management approach, investing in commodity-linked investments, which are backed by a portfolio of inflation-linked investments and other fixed income securities.  Commodities are real assets, including, but not limited to, agricultural products, livestock, precious and industrial metals, and energy products. The Fund invests in commodity-linked investments, which are derivative instruments that provide long or short exposure to commodities. These investments include commodity-linked total return swaps, commodity futures contracts and options on commodity futures contracts, commodity-linked structured notes, exchange-traded commodity pools or funds, and other commodity-linked derivative instruments. Particular commodity-linked investments may not necessarily conform to the composition, weighting, roll dates, reset dates, or contract months of any specific commodity market index, including the Fund’s performance benchmark. The Fund’s use of certain commodity-linked investments is expected to have a leveraging effect on the Fund.The Fund intends to gain exposure to commodity-linked investments primarily by investing in a wholly owned subsidiary that is organized under the laws of the Cayman Islands (the “Subsidiary”), which in turn invests in commodity-linked investments and fixed income securities. The Fund also may invest directly in commodity-linked investments. The Fund generally will not invest more than 25% of its assets in the Subsidiary.The Fund invests the remainder of its assets in inflation-indexed bonds issued by the U.S. government, its agencies and instrumentalities, and corporations. The Fund also may invest in other fixed income securities such as cash or cash-equivalent investments and short-term bonds. At a minimum, all bonds purchased by the Fund are considered to be investment-grade by Moody’s or another independent rating agency (or, if unrated, are considered to be of comparable quality by the Fund’s advisors ). The Fund’s fixed income investments may provide liquidity for the Fund or serve as margin or collateral for its commodity-linked investments.
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VCMDX - Performance

Return Ranking - Trailing

Period VCMDX Return Category Return Low Category Return High Rank in Category (%)
YTD 22.4% -14.6% 95.9% 55.28%
1 Yr 34.9% -31.6% 114.7% 71.54%
3 Yr 15.5%* -21.6% 46.4% 70.73%
5 Yr 11.9%* -23.2% 142.4% 43.80%
10 Yr N/A* -20.6% 57.8% N/A

* Annualized

Return Ranking - Calendar

Period VCMDX Return Category Return Low Category Return High Rank in Category (%)
2025 2.3% -27.1% 145.3% 61.79%
2024 3.0% -20.5% 28.2% 26.02%
2023 -9.7% -64.0% 30.1% 56.91%
2022 -0.4% -40.8% 2475.6% 45.90%
2021 2.6% -23.3% 106.7% 60.33%

Total Return Ranking - Trailing

Period VCMDX Return Category Return Low Category Return High Rank in Category (%)
YTD 22.4% -14.6% 95.9% 55.28%
1 Yr 34.9% -31.6% 114.7% 71.54%
3 Yr 15.5%* -21.6% 46.4% 70.73%
5 Yr 11.9%* -23.2% 142.4% 43.80%
10 Yr N/A* -20.6% 57.8% N/A

* Annualized

Total Return Ranking - Calendar

Period VCMDX Return Category Return Low Category Return High Rank in Category (%)
2025 18.0% -27.1% 145.3% 39.84%
2024 5.3% -20.5% 33.5% 48.78%
2023 -7.5% -64.0% 41.1% 70.73%
2022 14.0% -15.1% 5648.8% 45.90%
2021 35.2% -23.3% 188.1% 24.79%

NAV & Total Return History

VCMDX - Holdings

Concentration Analysis

VCMDX Category Low Category High VCMDX % Rank
Net Assets 2.62 B 2.34 M 71.5 B 17.88%
Number of Holdings 47 1 1146 52.85%
Net Assets in Top 10 946 M 2.66 M 30.7 B 36.59%
Weighting of Top 10 44.22% 23.2% 152.9% 87.39%

Top 10 Holdings

  1. Vanguard Market Liquidity Fund 9.95%
  2. TREASURY BILL 4.68%
  3. TSY INFL IX N/B 3.97%
  4. TSY INFL IX N/B 3.95%
  5. TSY INFL IX N/B 3.83%
  6. TSY INFL IX N/B 3.72%
  7. TSY INFL IX N/B 3.68%
  8. TSY INFL IX N/B 3.54%
  9. TSY INFL IX N/B 3.46%
  10. TSY INFL IX N/B 3.44%

Asset Allocation

Weighting Return Low Return High VCMDX % Rank
Bonds 		84.12% 0.00% 106.45% 12.20%
Cash 		12.14% 0.00% 102.64% 54.55%
Other 		3.73% 0.00% 100.00% 78.51%
Stocks 		0.00% 0.00% 64.15% 71.54%
Preferred Stocks 		0.00% 0.00% 0.08% 61.16%
Convertible Bonds 		0.00% 0.00% 3.89% 70.00%

Bond Sector Breakdown

Weighting Return Low Return High VCMDX % Rank
Government 		66.76% 0.00% 100.00% 11.11%
Cash & Equivalents 		9.95% 0.00% 102.64% 59.63%
Derivative 		3.73% -1.35% 99.96% 42.20%
Securitized 		0.00% 0.00% 19.62% 72.22%
Corporate 		0.00% 0.00% 42.72% 76.85%
Municipal 		0.00% 0.00% 1.45% 62.04%

Bond Geographic Breakdown

Weighting Return Low Return High VCMDX % Rank
US 		84.12% 0.00% 100.77% 12.40%
Non US 		0.00% 0.00% 11.90% 63.64%

VCMDX - Expenses

Operational Fees

VCMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.16% 0.16% 2.65% 100.00%
Management Fee 0.12% 0.00% 1.00% 4.64%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.05% 0.45% N/A

Sales Fees

VCMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

VCMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

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.

VCMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 15.00% 0.00% 162.00% 48.78%

VCMDX - Distributions

Dividend Yield Analysis

VCMDX Category Low Category High VCMDX % Rank
Dividend Yield 12.42% 0.00% 19.94% 44.37%

Dividend Distribution Analysis

VCMDX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Annually

Net Income Ratio Analysis

VCMDX Category Low Category High VCMDX % Rank
Net Income Ratio 2.79% -55.71% 52.26% 13.33%

Capital Gain Distribution Analysis

VCMDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

VCMDX - Fund Manager Analysis

Managers

Joshua Barrickman

Start Date

Tenure

Tenure Rank

Jun 25, 2019

2.93

2.9%

Joshua C. Barrickman, CFA, Principal of Vanguard and head of Vanguard’s Fixed Income Indexing Americas. He has been with Vanguard since 1998, has worked in investment management since 1999, has managed investment portfolios since 2005, and has co-managed the Fund since 2013. He has managed the Vanguard Variable Insurance Funds Global Bond Index Portfolio since its inception in 2017. Education: B.S., Ohio Northern University; M.B.A., Lehigh University.

Fei Xu

Start Date

Tenure

Tenure Rank

Jun 25, 2019

2.93

2.9%

Fei Xu, CFA, Portfolio Manager at Vanguard. He has been with Vanguard since 2004. Education: B.S., Peking University; M.S., University of California, Los Angeles; M.B.A., Duke University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 17.03 6.41 11.51

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