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VEIRX Vanguard Equity-Income Adm

  • Fund
  • VEIRX
  • Price as of: May 14, 2019
  • $73.21 + $0.47 + 0.65%
  • Category
  • Large Cap Value Equities

VEIRX - Profile

Vitals

  • YTD Return 10.2%
  • 3 Yr Annualized Return 4.7%
  • 5 Yr Annualized Return 2.7%
  • Net Assets $35.2 B
  • Holdings in Top 10 26.1%

52 WEEK LOW AND HIGH

$73.21
$62.89
$81.28

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.18%

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)

$50,000

IRA

N/A

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 10.2%
  • 3 Yr Annualized Total Return 4.7%
  • 5 Yr Annualized Total Return 2.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.69%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Vanguard Equity Income Fund
  • Fund Family Name Vanguard
  • Inception Date Aug 13, 2001
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager James P. Stetler

Fund Description

The Vanguard Equity-Income Fund Admiral Shares (VEIRX) is a low-cost, actively managed fund that seeks to provide a high level of current income and grow that income over time. VEIRX does this by investing in domestic dividend-paying equities. The fund uses fundamental concepts applied with quantitative investment techniques to create its portfolio of dividend payers. The fund skews towards large-cap value stocks.

Given its focus on dividend income, VEIRX makes for an ideal subcore position within a broad equity portfolio. The fund is managed by Vanguard Equity Investment Group and Wellington Management Company LLP.

VEIRX - Performance

Return Ranking - Trailing

Period VEIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.2% -3.5% 23.5% 63.51%
1 Yr -4.8% -29.1% 14.0% 35.62%
3 Yr 4.7%* -13.8% 15.5% 37.69%
5 Yr 2.7%* -28.0% 11.5% 27.03%
10 Yr 9.0%* -10.0% 12.7% 22.50%

* Annualized


Return Ranking - Calendar

Period VEIRX Return Category Return Low Category Return High Rank in Category (%)
2018 -14.8% -38.8% 15.7% 35.87%
2017 14.0% -17.9% 37.3% 17.59%
2016 10.4% -7.3% 28.2% 49.43%
2015 -5.3% -47.3% 0.6% 20.20%
2014 4.9% -46.4% 75.9% 44.56%

Total Return Ranking - Trailing

Period VEIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.2% -3.5% 23.5% 63.51%
1 Yr -4.8% -29.1% 14.0% 62.39%
3 Yr 4.7%* -9.3% 16.3% 80.40%
5 Yr 2.7%* -9.5% 13.5% 76.06%
10 Yr 9.0%* -4.0% 15.5% 76.73%

* Annualized


Total Return Ranking - Calendar

Period VEIRX Return Category Return Low Category Return High Rank in Category (%)
2018 -14.8% -32.1% 15.7% 63.26%
2017 14.0% -7.9% 38.3% 60.05%
2016 10.4% -7.3% 29.2% 79.07%
2015 -5.3% -26.2% 4.7% 54.92%
2014 4.9% -45.2% 78.4% 80.21%

NAV & Total Return History

VEIRX - Holdings

Concentration Analysis

VEIRX Category Low Category High VEIRX % Rank
Net Assets 35.2 B 1.47 M 117 B 5.85%
Number of Holdings 199 18 1796 11.44%
Net Assets in Top 10 8.87 B 81.8 K 32.2 B 5.85%
Weighting of Top 10 26.09% 8.7% 74.3% 62.56%

Top 10 Holdings

  1. JPMorgan Chase & Co 3.66%

  2. Johnson & Johnson 3.33%

  3. Verizon Communications Inc 3.20%

  4. Cisco Systems Inc 2.72%

  5. Chevron Corp 2.50%

  6. Intel Corp 2.35%

  7. Merck & Co Inc 2.21%

  8. Pfizer Inc 2.14%

  9. Comcast Corp Class A 2.00%

  10. Philip Morris International Inc 1.98%


Asset Allocation

Weighting Return Low Return High VEIRX % Rank
Stocks
96.02% 6.24% 117.77% 69.78%
Cash
3.96% -17.77% 40.48% 25.62%
Bonds
0.01% -0.04% 43.37% 13.56%
Preferred Stocks
0.00% 0.00% 16.57% 54.23%
Other
0.00% -0.77% 2.43% 49.25%
Convertible Bonds
0.00% 0.00% 77.39% 49.13%

Stock Sector Breakdown

Weighting Return Low Return High VEIRX % Rank
Financial Services
16.28% 0.89% 39.05% 77.68%
Healthcare
14.88% 0.00% 25.25% 34.29%
Consumer Defense
11.71% 0.00% 27.68% 6.73%
Technology
10.56% 0.00% 35.17% 52.00%
Industrials
9.49% 0.00% 37.45% 46.88%
Energy
8.64% 0.00% 24.02% 65.59%
Utilities
7.81% 0.00% 71.85% 7.86%
Communication Services
6.35% 0.00% 12.35% 21.32%
Consumer Cyclical
4.44% 0.00% 46.05% 82.92%
Basic Materials
3.06% 0.00% 17.14% 49.63%
Real Estate
1.13% 0.00% 33.69% 71.45%

Stock Geographic Breakdown

Weighting Return Low Return High VEIRX % Rank
US
86.28% 0.17% 117.77% 69.78%
Non US
9.74% 0.00% 99.26% 31.59%

Bond Sector Breakdown

Weighting Return Low Return High VEIRX % Rank
Cash & Equivalents
3.98% -17.77% 71.79% 22.39%
Derivative
0.00% -0.89% 0.02% 42.41%
Securitized
0.00% 0.00% 25.23% 45.40%
Corporate
0.00% 0.00% 92.36% 57.34%
Municipal
0.00% 0.00% 1.33% 44.78%
Government
0.00% 0.00% 5.30% 47.64%

Bond Geographic Breakdown

Weighting Return Low Return High VEIRX % Rank
US
0.01% -0.04% 34.69% 13.56%
Non US
0.00% 0.00% 8.83% 47.51%

VEIRX - Expenses

Operational Fees

VEIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.18% 0.03% 8.83% 99.25%
Management Fee 0.16% 0.00% 1.20% 1.99%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

VEIRX 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

VEIRX 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.

VEIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 0.00% 258.00% 48.26%

VEIRX - Distributions

Dividend Yield Analysis

VEIRX Category Low Category High VEIRX % Rank
Dividend Yield 0.02% 0.00% 0.10% 8.21%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

VEIRX Category Low Category High VEIRX % Rank
Net Income Ratio 2.69% -2.85% 3.22% 1.74%

Capital Gain Distribution Analysis

VEIRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

VEIRX - Managers

James P. Stetler

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2003

15.34

15.3%

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

11.72

11.7%

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

3.26

3.3%

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

35.36

Category Average

7.83

Category Mode

0.23