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Name

As of 11/22/2024

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 Market Neutral Fund

VMNIX | Fund

$13.96

$473 M

0.11%

$0.02

1.74%

Vitals

YTD Return

6.0%

1 yr return

7.3%

3 Yr Avg Return

12.1%

5 Yr Avg Return

7.8%

Net Assets

$473 M

Holdings in Top 10

9.1%

52 WEEK LOW AND HIGH

$14.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.74%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 133.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/22/2024

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 Market Neutral Fund

VMNIX | Fund

$13.96

$473 M

0.11%

$0.02

1.74%

VMNIX - Profile

Distributions

  • YTD Total Return 6.0%
  • 3 Yr Annualized Total Return 12.1%
  • 5 Yr Annualized Total Return 7.8%
  • Capital Gain Distribution Frequency Semi-Monthly
  • Net Income Ratio 0.17%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Vanguard Market Neutral Fund
  • Fund Family Name
    The Vanguard Group, Inc.
  • Inception Date
    Dec 03, 2007
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Cesar Orosco

Fund Description

The Fund follows a market neutral strategy, which the Fund defines as a strategy designed to produce a portfolio that is neutral with respect to general stock market risk (sometimes referred to as beta neutrality). Beta is a measure of a portfolio’s volatility relative to the volatility of the general stock market. The Fund, as a whole, does not seek to adhere to any other definition of market neutrality.To implement the strategy, the advisor buys securities that it believes offer an appropriate balance between strong growth prospects and reasonable valuations relative to their industry peers and sells short securities that the advisor expects to be overvalued or have weak growth prospects, in amounts that it believes will achieve market neutrality. By taking long and short positions in different securities, the Fund attempts to limit the effect of market movements on portfolio performance. The advisor does this by using a quantitative process and may, at any time, buy or sell short any number of publicly traded, exchange-listed equity securities and may emphasize specific industries, styles (growth/value), capitalization ranges, countries, or other factors. The overall performance of the Fund depends on the net performance of its long and short positions, and it is possible for the Fund to experience a net loss across all positions. If the Fund’s investment strategy is successful, however, the net performance of its long and short positions will produce long-term capital appreciation that reflects the quality of the advisor’s security selections, with limited exposure to general stock market risk.The Fund’s long/short market neutral investment strategy is an absolute-return investment approach seeking performance that exceeds the returns of 3-month U.S. Treasury bills. An investment in the Fund, however, is different from an investment in 3-month U.S. Treasury bills because, among other things, U.S. Treasury bills are backed by the full faith and credit of the U.S. government, U.S. Treasury bills have a fixed rate of return, investors in U.S. Treasury bills have a very low risk of losing their investment, and an investment in the Fund is expected to be substantially more volatile than an investment in U.S. Treasury bills.Because of the Fund’s market neutral strategy, the Fund’s overall price movements are not expected to correlate with the general stock market’s price movements. In other words, the Fund is expected to have returns that are independent of the returns and direction of the general stock market.
Read More

VMNIX - Performance

Return Ranking - Trailing

Period VMNIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.0% -11.6% 15.8% 10.00%
1 Yr 7.3% -33.0% 41.7% 75.73%
3 Yr 12.1%* -10.5% 13.4% 92.86%
5 Yr 7.8%* -4.8% 11.1% 93.98%
10 Yr 3.3%* -4.6% 7.6% 85.29%

* Annualized

Return Ranking - Calendar

Period VMNIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -31.7% 23.2% 88.78%
2022 12.6% -20.7% 10.7% 91.75%
2021 23.1% -12.4% 14.7% 43.33%
2020 -12.3% -13.2% 12.9% 97.47%
2019 -12.3% -11.7% 7.9% 41.43%

Total Return Ranking - Trailing

Period VMNIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.0% -11.7% 15.8% 10.00%
1 Yr 7.3% -33.0% 41.7% 73.79%
3 Yr 12.1%* -10.5% 13.4% 89.80%
5 Yr 7.8%* -4.8% 11.1% 93.98%
10 Yr 3.3%* -4.6% 7.6% 85.29%

* Annualized

Total Return Ranking - Calendar

Period VMNIX Return Category Return Low Category Return High Rank in Category (%)
2023 12.3% -31.7% 23.2% 88.78%
2022 13.5% -20.7% 10.7% 91.75%
2021 23.4% -12.4% 14.7% 53.33%
2020 -11.6% -12.7% 12.9% 97.47%
2019 -9.5% -11.5% 13.2% 67.14%

NAV & Total Return History

VMNIX - Holdings

Concentration Analysis

VMNIX Category Low Category High VMNIX % Rank
Net Assets 473 M 105 K 12.6 B 32.69%
Number of Holdings 448 5 2526 27.88%
Net Assets in Top 10 42.4 M -619 M 6.53 B 73.08%
Weighting of Top 10 9.09% 7.6% 96.1% 95.12%

Top 10 Holdings

  1. Vanguard Market Liquidity Fund 1.24%
  2. BIGCOMMERCE-1 0.89%
  3. ARDMORE SHIPPING 0.89%
  4. ROBINHOOD MARK-A 0.88%
  5. NMI HOLDINGS INC 0.88%
  6. CNO FINANCIAL GR 0.87%
  7. MGIC INVT CORP 0.87%
  8. AMERICAN ASSETS 0.86%
  9. SKYWEST INC 0.85%
  10. PRICESMART INC 0.85%

Asset Allocation

Weighting Return Low Return High VMNIX % Rank
Cash 		98.99% -225.56% 102.75% 3.85%
Stocks 		1.01% -57.09% 325.56% 69.23%
Preferred Stocks 		0.00% 0.00% 5.67% 90.38%
Other 		0.00% -11.90% 43.69% 78.85%
Convertible Bonds 		0.00% 0.00% 95.47% 90.38%
Bonds 		0.00% -1.04% 63.30% 87.50%

Stock Sector Breakdown

Weighting Return Low Return High VMNIX % Rank
Technology 		18.55% 0.00% 100.00% 37.63%
Financial Services 		14.10% 0.00% 98.37% 60.22%
Industrials 		13.89% 0.00% 27.58% 39.78%
Consumer Cyclical 		11.06% 0.00% 29.06% 26.88%
Healthcare 		8.84% 0.00% 27.28% 41.94%
Real Estate 		8.66% 0.00% 93.91% 6.45%
Energy 		7.12% 0.00% 53.30% 47.31%
Basic Materials 		5.96% 0.00% 42.74% 31.18%
Consumer Defense 		4.99% 0.00% 30.58% 21.51%
Communication Services 		3.59% 0.00% 33.72% 60.22%
Utilities 		3.25% 0.00% 66.28% 38.71%

Stock Geographic Breakdown

Weighting Return Low Return High VMNIX % Rank
US 		1.01% -55.82% 325.56% 70.19%
Non US 		0.00% -7.09% 86.98% 75.00%

VMNIX - Expenses

Operational Fees

VMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.74% 0.73% 9.52% 90.29%
Management Fee 0.13% 0.13% 1.65% 0.96%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.06% 0.40% N/A

Sales Fees

VMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

VMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

VMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 133.00% 30.00% 483.00% 48.31%

VMNIX - Distributions

Dividend Yield Analysis

VMNIX Category Low Category High VMNIX % Rank
Dividend Yield 0.11% 0.00% 0.75% 83.65%

Dividend Distribution Analysis

VMNIX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annually Quarterly Annually

Net Income Ratio Analysis

VMNIX Category Low Category High VMNIX % Rank
Net Income Ratio 0.17% -2.49% 4.20% 29.13%

Capital Gain Distribution Analysis

VMNIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Monthly Annually Annually Annually

Distributions History

View More +

VMNIX - Fund Manager Analysis

Managers

Cesar Orosco

Start Date

Tenure

Tenure Rank

Feb 26, 2021

1.26

1.3%

CFA, Ph.D., Senior Portfolio Manager at Vanguard. He has been with Vanguard since April 2020, has worked in investment management since 2004, has managed investment portfolios since 2004, and has co-managed a portion of the Fund since February 2021. Education: B.S., Universidad de Lima; Ph.D., University of Pennsylvania.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.59 6.3 9.42

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