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VEIPX Vanguard Equity-Income Inv

  • Fund
  • VEIPX
  • Price as of: Sep 17, 2019
  • $36.57 + $0.05 + 0.14%

VEIPX - Profile

Vitals

  • YTD Return 15.4%
  • 3 Yr Annualized Return 5.4%
  • 5 Yr Annualized Return 2.7%
  • Net Assets $35.3 B
  • Holdings in Top 10 25.8%

52 WEEK LOW AND HIGH

$36.57
$30.01
$38.77

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.27%

SALES FEES

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

BROKERAGE FEES

  • Turnover 37.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000

IRA

$3,000

Fund Classification

PRIMARY CATEGORY

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

Distributions

  • YTD Total Return 15.4%
  • 3 Yr Annualized Total Return 5.4%
  • 5 Yr Annualized Total Return 2.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.60%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Vanguard Equity Income Fund
  • Fund Family Name Vanguard
  • Inception Date Mar 21, 1988
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager James P. Stetler

Fund Description

The Vanguard Equity Income Fund Investor Shares (VEIPX) is an actively managed fund designed to produce above-average current income. Capital appreciation is a secondary objective. The fund uses various dividend- and cash flow-related fundamental metrics as well as quantitative investment techniques to build its portfolio. VEIPX skews its portfolio towards large-cap value stocks and is broadly diversified across market sectors.

With its focus on current income, VEIPX could find a home as a satellite position in the portfolios of income-seeking investors who already have exposure to fixed-income securities. The fund is managed by Vanguard and Wellington Management Company.

VEIPX - Performance

Return Ranking - Trailing

Period VEIPX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.4% -8.2% 37.7% 69.36%
1 Yr -4.9% -56.3% 12.8% 35.94%
3 Yr 5.4%* -21.7% 19.3% 30.14%
5 Yr 2.7%* -28.4% 12.6% 26.51%
10 Yr 7.5%* -11.7% 11.6% 23.57%

* Annualized


Return Ranking - Calendar

Period VEIPX Return Category Return Low Category Return High Rank in Category (%)
2018 -14.8% -62.4% 16.7% 34.01%
2017 14.0% -16.4% 21.6% 16.65%
2016 10.4% -27.9% 31.0% 50.63%
2015 -5.3% -43.1% 0.5% 18.87%
2014 4.9% -46.4% 75.9% 46.08%

Total Return Ranking - Trailing

Period VEIPX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.4% -8.2% 37.7% 70.36%
1 Yr -4.9% -33.5% 12.8% 65.36%
3 Yr 5.4%* -10.4% 19.6% 75.25%
5 Yr 2.7%* -7.7% 12.6% 74.13%
10 Yr 7.5%* -5.1% 13.0% 77.76%

* Annualized


Total Return Ranking - Calendar

Period VEIPX Return Category Return Low Category Return High Rank in Category (%)
2018 -14.8% -35.5% 17.4% 65.78%
2017 14.0% -9.5% 24.7% 58.65%
2016 10.4% -1.8% 32.2% 82.37%
2015 -5.3% -25.8% 3.9% 55.97%
2014 4.9% -45.2% 78.4% 82.70%

NAV & Total Return History

VEIPX - Holdings

Concentration Analysis

VEIPX Category Low Category High VEIPX % Rank
Net Assets 35.3 B 1.06 M 79.6 B 1.97%
Number of Holdings 216 18 1222 10.03%
Net Assets in Top 10 9.2 B -6.31 M 22.6 B 1.97%
Weighting of Top 10 25.76% 6.1% 422.4% 64.31%

Top 10 Holdings

  1. JPMorgan Chase & Co 3.71%

  2. Johnson & Johnson 3.13%

  3. Verizon Communications Inc 3.02%

  4. Cisco Systems Inc 2.66%

  5. Pfizer Inc 2.56%

  6. Chevron Corp 2.47%

  7. Merck & Co Inc 2.14%

  8. Comcast Corp Class A 2.04%

  9. Intel Corp 2.04%

  10. Bank of America Corporation 2.00%


Asset Allocation

Weighting Return Low Return High VEIPX % Rank
Stocks
96.46% 83.80% 130.28% 80.04%
Cash
3.50% -30.29% 11.11% 16.72%
Bonds
0.04% -13.40% 15.32% 7.47%
Preferred Stocks
0.00% -0.31% 7.76% 98.23%
Other
0.00% -1.85% 15.84% 97.35%
Convertible Bonds
0.00% -0.01% 2.22% 98.13%

Stock Sector Breakdown

Weighting Return Low Return High VEIPX % Rank
Financial Services
17.11% 0.00% 55.05% 80.71%
Healthcare
15.36% 0.00% 24.83% 19.59%
Consumer Defense
12.30% 0.00% 38.28% 10.83%
Technology
9.82% 0.00% 31.53% 49.11%
Industrials
9.60% 0.00% 36.88% 51.38%
Energy
8.59% 0.00% 21.03% 49.51%
Utilities
8.01% 0.00% 72.42% 7.58%
Communication Services
6.22% 0.00% 12.21% 19.00%
Consumer Cyclical
4.57% 0.00% 36.78% 85.33%
Basic Materials
2.70% 0.00% 26.56% 64.57%
Real Estate
1.23% 0.00% 16.63% 71.26%

Stock Geographic Breakdown

Weighting Return Low Return High VEIPX % Rank
US
86.46% 80.05% 128.63% 83.87%
Non US
10.00% 0.00% 18.54% 14.55%

Bond Sector Breakdown

Weighting Return Low Return High VEIPX % Rank
Cash & Equivalents
3.50% -30.29% 12.22% 15.43%
Government
0.04% -103.59% 8.34% 1.29%
Derivative
0.00% -0.03% 25.86% 96.64%
Securitized
0.00% 0.00% 55.24% 97.73%
Corporate
0.00% -0.17% 19.51% 97.82%
Municipal
0.00% 0.00% 0.61% 97.73%

Bond Geographic Breakdown

Weighting Return Low Return High VEIPX % Rank
US
0.04% -21.76% 8.34% 6.88%
Non US
0.00% 0.00% 8.36% 98.53%

VEIPX - Expenses

Operational Fees

VEIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.27% 0.00% 27.58% 97.70%
Management Fee 0.24% 0.00% 1.35% 3.83%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

VEIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

VEIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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.

VEIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 0.00% 788.00% 43.31%

VEIPX - Distributions

Dividend Yield Analysis

VEIPX Category Low Category High VEIPX % Rank
Dividend Yield 1.34% 0.00% 4.65% 30.88%

Dividend Distribution Analysis

VEIPX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Quarterly Quarterly

Dividend Payout History


Net Income Ratio Analysis

VEIPX Category Low Category High VEIPX % Rank
Net Income Ratio 2.60% -2.06% 3.68% 4.39%

Capital Gain Distribution Analysis

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

VEIPX - Managers

James P. Stetler

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2003

15.68

15.7%

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.


W. Michael Reckmeyer

Manager

Start Date

Tenure

Tenure Rank

Aug 15, 2007

12.05

12.1%

W. Michael Reckmeyer, III, CFA, is Senior Managing Director , Partner, and Equity Portfolio Manager. Reckmeyer joined Wellington Management as an investment professional in 1994. As a member of the Value Team, Mike manages portfolios that have an emphasis on dividend income. Mike's mandate is to focus his research effort on large-capitalization, value-oriented stocks. While his research may include any industry, his primary area of coverage is insurance. Mike began his investment career in 1984 when he worked as an analyst following electrical equipment, aerospace, and pollution control companies (1984 —1986). This experience was followed by eight years at Kemper Financial Services where his research focus included paper and forest products, environmental services, and cable and cellular companies (1986 —1994). He received both his MBA (1984) and his BS in mechanical engineering (1981) from the University of Wisconsin. Mike holds the Chartered Financial Analyst designation and is a member of the Philadelphia Financial Analyst Society.


Binbin Guo

Manager

Start Date

Tenure

Tenure Rank

Jan 27, 2016

3.59

3.6%

Binbin Guo, Ph.D., Principal of The Vanguard Group, Inc. and head of the Alpha Equity Investment team within Vanguard’s Quantitative Equity Group. He oversees the active quantitative equity funds and separately managed equity accounts. He has been with Vanguard since 2007. Education: B.S. and M.S., Tsinghua University, China; Ph.D. and M.Phil., Yale University.


Tenure Analysis

Category Low

0.0

Category High

83.84

Category Average

6.94

Category Mode

0.17