Vanguard Market Neutral Fund Investor Shares (VMNFX)

Net Asset Value
1 Day
Overall Morningstar Rating
Market neutral
Style or Category
No Load
Sales Expenses
Expense Ratio
Morningstar Risk Rating™
Investment Objective The investment seeks to provide long-term capital appreciation while limiting exposure to general stock market risk. The fund follows a market neutral strategy- which the managers define 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.


1 month+0.08% 3 years+1.41%
3 months+1.37% 5 years+2.79%
1 year-0.53% Since inception+2.73%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+2.79%+1.13%
Expense ratio1.60%1.63%
Risk 5 year sharpe ratio0.580.29
Net assets$1.7B$418.7M
Average market cap$5.7B$38.0B
Average P/E18.719.9
Portfolio turnover79%79%

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Fund Management and Purchase Info

Fund familyVanguard
Fund manager & tenureJames Stetler / 5 Years
Minimal initial investment$250,000.00
Minimum IRA investment--


U.S. stock8.71%
International stock0.00%
Fixed income0.00%
Top 5 Sectors
Portfolio weighting
Financial service 18.50%
Industrial materials 13.92%
Consumer goods 12.61%
Healthcare 9.89%
Consumer service 9.29%
Top 10 Holdings
Portfolio weighting
NBR Nabors Industries Ltd16.54%
OZRK Bank of the Ozarks16.43%
FCX Freeport-McMoRan Inc16.36%
CMP Compass Minerals International Inc16.36%
AA Alcoa16.27%
UVE Universal Insurance Holdings Inc16.25%
VMC Vulcan Materials Co16.14%
SITE SiteOne Landscape Supply Inc16.12%
EXEL Exelixis Inc16.11%
DK Delek US Holdings Inc16.04%