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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+0.34% 3 years+4.02%
3 months+1.48% 5 years+3.83%
1 year+1.57% Since inception+2.97%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+3.83%+1.42%
Expense ratio1.64%1.75%
Risk 5 year sharpe ratio0.920.21
Net assets$402.6M$498.6M
Average market cap$4.8B$31.2B
Average P/E14.317.0
Portfolio turnover73%73%

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Fund Management and Purchase Info

Fund familyVanguard
Fund manager & tenureJames Troyer / 7 Years
Minimal initial investment$250,000.00
Minimum IRA investment--


U.S. stock10.78%
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
THS TreeHouse Foods Inc24.90%
RARE Ultragenyx Pharmaceutical Inc24.59%
BECN Beacon Roofing Supply Inc24.46%
HCA HCA Holdings Inc24.21%
INCR INC Research Holdings Inc24.02%
EA Electronic Arts Inc23.84%
CNC Centene Corp23.79%
LKQ LKQ Corp23.65%
DWRE Demandware Inc23.62%
AAN Aaron's Inc23.61%

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