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 stock's volatility relative to the volatility of the general stock market. The advisor buys equity securities it consider to be undervalued and sells short securities it consider to be overvalued, in amounts that it believes will achieve market neutrality.


1 month+0.78% 3 years+4.16%
3 months+1.66% 5 years+3.75%
1 year+5.92% Since inception+2.99%
Data through --

Peer Comparisonvs. Market neutral

Performance 5-yr return+3.75%+1.25%
Expense ratio1.60%1.72%
Risk 5 year sharpe ratio0.950.21
Net assets$311.9M$582.5M
Average market cap$5.0B$34.6B
Average P/E15.018.2
Portfolio turnover68%68%

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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. stock93.91%
International stock0.99%
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
CENX Century Aluminum Co0.54%
MANH Manhattan Associates Inc0.53%
BBY Best Buy Co Inc0.51%
CALM Cal-Maine Foods Inc0.51%
PINC Premier Inc Class A0.51%
SC Santander Consumer USA Holdings Inc0.50%
GBX Greenbrier Companies Inc0.50%
SKX Skechers USA Inc0.50%
EXPE Expedia Inc0.50%
VOYA Voya Financial Inc0.50%

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