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The Vanguard Explorer Fund Admiral Shares (VEXRX) is a low-cost, actively managed fund that aims to aggressively grow investor capital by betting on small-cap U.S. companies. The fund uses both fundamental and quantitative screens to find undervalued growth stocks. VEXRX also holds a small portion of its assets in stock index futures and ETFs to manage cash flows.
With its focus on riskier small-cap stocks, VEXRX makes for a great subcore position in a diversified portfolio. The fund is managed by Chartwell Investment Partners, Granahan Investment Management, Vanguard Equity Investment Group, Wellington Management Company, Kalmar Investment Advisers, Century Capital Management, Stephens Investment Management Group and Arrowpoint Partners.
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| Period | VEXRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 17.7% | 4.1% | 31.2% | 50.72% |
| 1 Yr | -4.9% | -48.7% | 20.3% | 22.79% |
| 3 Yr | 8.1%* | -44.1% | 29.3% | 42.83% |
| 5 Yr | 0.1%* | -29.6% | 18.8% | 51.34% |
| 10 Yr | 8.5%* | -12.2% | 19.1% | 47.47% |
* Annualized
| Period | VEXRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2018 | -12.0% | -54.2% | 21.5% | 20.62% |
| 2017 | 10.0% | -73.6% | 37.0% | 66.81% |
| 2016 | 7.5% | -49.0% | 25.7% | 46.25% |
| 2015 | -13.5% | -70.7% | 14.9% | 65.52% |
| 2014 | -10.1% | -41.2% | 17.3% | 63.74% |
| Period | VEXRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 17.7% | 4.1% | 31.2% | 50.72% |
| 1 Yr | -4.9% | -48.7% | 21.1% | 43.74% |
| 3 Yr | 8.1%* | -8.8% | 29.3% | 66.60% |
| 5 Yr | 0.1%* | -12.5% | 19.6% | 83.04% |
| 10 Yr | 8.5%* | -3.2% | 30.0% | 80.06% |
* Annualized
| Period | VEXRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2018 | -12.0% | -54.2% | 22.2% | 40.62% |
| 2017 | 10.0% | -6.8% | 42.0% | 86.01% |
| 2016 | 7.5% | -15.1% | 32.0% | 65.10% |
| 2015 | -13.5% | -35.5% | 19.3% | 84.27% |
| 2014 | -10.1% | -36.4% | 17.3% | 85.59% |
| VEXRX | Category Low | Category High | VEXRX % Rank | |
|---|---|---|---|---|
| Net Assets | 16.4 B | 7.34 M | 26.8 B | 1.23% |
| Number of Holdings | 578 | 6 | 2534 | 6.37% |
| Net Assets in Top 10 | 1.3 B | 1.08 M | 5.03 B | 3.90% |
| Weighting of Top 10 | 8.17% | 5.3% | 100.0% | 97.33% |
| Weighting | Return Low | Return High | VEXRX % Rank | |
|---|---|---|---|---|
| Stocks | 95.19% | 8.58% | 113.20% | 85.22% |
| Cash | 4.81% | -1.08% | 15.80% | 12.73% |
| Preferred Stocks | 0.00% | 0.00% | 7.91% | 30.60% |
| Other | 0.00% | -11.60% | 6.71% | 37.17% |
| Convertible Bonds | 0.00% | 0.00% | 0.14% | 24.02% |
| Bonds | 0.00% | -28.06% | 80.92% | 23.41% |
| Weighting | Return Low | Return High | VEXRX % Rank | |
|---|---|---|---|---|
| Technology | 26.66% | 0.87% | 80.95% | 43.12% |
| Industrials | 16.42% | 0.87% | 32.50% | 32.85% |
| Consumer Cyclical | 16.39% | 0.00% | 35.58% | 18.69% |
| Healthcare | 15.81% | 1.14% | 57.67% | 72.07% |
| Financial Services | 6.20% | -2.38% | 29.51% | 64.89% |
| Consumer Defense | 4.10% | 0.00% | 11.55% | 57.08% |
| Real Estate | 3.24% | 0.00% | 14.19% | 32.65% |
| Basic Materials | 3.23% | 0.00% | 18.58% | 62.01% |
| Energy | 1.72% | 0.00% | 11.50% | 44.76% |
| Communication Services | 0.84% | 0.00% | 8.20% | 43.53% |
| Utilities | 0.56% | 0.00% | 5.58% | 24.23% |
| Weighting | Return Low | Return High | VEXRX % Rank | |
|---|---|---|---|---|
| US | 92.01% | 3.32% | 100.00% | 72.69% |
| Non US | 3.18% | 0.00% | 96.31% | 43.33% |
| VEXRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.32% | 0.06% | 4.84% | 98.97% |
| Management Fee | 0.31% | 0.05% | 1.59% | 2.67% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.40% | N/A |
| VEXRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
| VEXRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
| VEXRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 50.00% | 3.00% | 818.00% | 47.23% |
| VEXRX | Category Low | Category High | VEXRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 0.02% | 5.34% |
| VEXRX | Category Low | Category High | Category Mode | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Monthly | Annually |
| Date | Amount |
|---|---|
| Dec 19, 2018 | $0.393 |
| Dec 19, 2017 | $0.438 |
| Dec 27, 2016 | $0.403 |
| Dec 28, 2015 | $0.383 |
| Dec 18, 2014 | $0.324 |
| Dec 18, 2013 | $0.216 |
| Dec 27, 2012 | $0.392 |
| Dec 28, 2011 | $0.217 |
| Dec 17, 2010 | $0.189 |
| Dec 29, 2009 | $0.175 |
| Dec 31, 2008 | $0.370 |
| Dec 18, 2007 | $0.427 |
| Dec 18, 2006 | $0.437 |
| Dec 29, 2005 | $0.346 |
| Dec 23, 2002 | $0.043 |
| Dec 24, 2001 | $0.107 |
| VEXRX | Category Low | Category High | VEXRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.43% | -2.81% | 1.79% | 4.72% |
| VEXRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Manager
Start Date
Tenure
Tenure Rank
Feb 01, 1994
25.26
25.3%
Kenneth L. Abrams, Senior Managing Director and Equity Portfolio Manager at Wellington Management Company LLP. He has worked in investment management with Wellington Management since 1986. Education: B.A. and M.B.A., Stanford University.
Manager
Start Date
Tenure
Tenure Rank
Feb 17, 2012
7.2
7.2%
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.
Manager
Start Date
Tenure
Tenure Rank
Aug 12, 2013
5.72
5.7%
Ryan Crane is the Chief Investment Officer of Stephens Investment Management Group ("SIMG"). He also serves as the Lead Portfolio Manager for SIMG's Small Cap Growth, Mid Cap Growth, Small-Mid Cap Core Growth and Small-Mid Cap Select Growth Strategies as well as two sub-advised mutual funds, the American Beacon Stephens Small Cap Growth Fund and the American Beacon Stephens Mid-Cap Growth Fund. Prior to joining SIMG in 2004, Ryan had been at AIM Capital Management since 1994, where he was a Senior Portfolio Manager for the AIM Small Cap Growth Fund and the team leader for the small/mid-cap gro
Manager
Start Date
Tenure
Tenure Rank
Feb 24, 2014
5.18
5.2%
Daniel J. Fitzpatrick, CFA, Senior Managing Director and Equity Portfolio Manager at Wellington Management Company LLP. He has worked in investment management since 1997, has been with Wellington Management since 1998. Education: B.S., Boston College.
Manager
Start Date
Tenure
Tenure Rank
Jun 16, 2014
4.87
4.9%
Mr. Meade, Portfolio Manager, joined Arrowpoint Asset Management, LLC in May 2013. Mr. Prior to joining Arrowpoint, Mr. Meade served as an Equity Research Analyst, Co-Portfolio Manager and Executive Vice President AT Janus Capital (2001-2013). Prior to joining Janus Capital, he was a financial analyst for Goldman Sachs’ global investment research team. Chad graduated summa cum laude from Virginia Tech with a bachelor’s degree in Finance and was a member of the Omicron Delta Kappa Honor Society.
Manager
Start Date
Tenure
Tenure Rank
Jun 16, 2014
4.87
4.9%
Mr. Schaub, Portfolio Manager, joined Arrowpoint in May 2013. Prior to joining Arrowpoint, Mr. Schaub served as an Equity Research Analyst, Co-Portfolio Manager and Executive Vice President at Janus Capital (2000-2013). Brian graduated cum laude from Williams College with a bachelor’s degree in Economics and won the Arthur B. Graves, Class of 1858, Essay Prize in Economics for his work on Dell Computer. He holds the Chartered Financial Analyst designation.
Manager
Start Date
Tenure
Tenure Rank
Feb 25, 2016
3.18
3.2%
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.
Manager
Start Date
Tenure
Tenure Rank
Mar 20, 2017
2.11
2.1%
15 years of investment industry experience; Joined ClearBridge Investments in 2006 Hygrove Partners, LLC - Equity Analyst iCollege - Co-founder, Executive Vice President; BA from Union College
Manager
Start Date
Tenure
Tenure Rank
Mar 20, 2017
2.11
2.1%
35 years of investment industry experience; Joined a predecessor firm in 1990; Member of the ClearBridge Management Committee; Member of the New York Society of Security Analysts Member of the CFA Institute; Drexel Burnham Lambert - International Portfolio Manager, a Media Analyst and a Global Portfolio Manager MBA from the Wharton School at the University of Pennsylvania; BS in Civil Engineering from the Massachusetts Institute of Technology.
Manager
Start Date
Tenure
Tenure Rank
Mar 20, 2017
2.11
2.1%
22 years of investment industry experience; Joined a predecessor organization in 2000; Member of the New York Society of Security Analysts Prudential Investments - Analyst; Assisted in management of Prudential Real Estate Securities Fund; BA in Government from Dartmouth College.
Tenure Analysis
Category Low
0.0
Category High
46.53
Category Average
7.7
Category Mode
2.0
MUTUAL FUND EDUCATION
MUTUAL FUND EDUCATION
