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VXF Vanguard Extended Market ETF

Also available as an Admiral™ Shares mutual fund.

Management style

Index

Asset class

Domestic Stock - More Aggressive

Category

Mid Blend

Risk / reward scale

Start of Risk Scale. On a scale of 1 to 5, 1 is less risk less reward, 5 is more risk more reward
The fund risk level is a 5

Less

More

End of Risk Scale.

Expense ratio

0.05%

as of 04/29/2025

as of 06/30/2025

Market price (MP)

$198.64

as of 07/17/2025

NAV price

$198.46

as of 07/17/2025

Overview

Key facts

IOV ticker symbol

VXF.IV

CUSIP

922908652

Management style

Index

Asset class

Domestic Stock - More Aggressive

Category

Mid Blend

Inception date

12/27/2001

Fund Number

0965

Ratings

Risk / reward scale

Start of Risk Scale. On a scale of 1 to 5, 1 is less risk less reward, 5 is more risk more reward
The fund risk level is a 5

Less

More

End of Risk Scale.
Price

Minimum Investment

$1.00

as of 07/17/2025

Market price

$198.64

as of 07/17/2025

Market price change

increased$2.35 (1.20%)

as of 07/17/2025

Expense Ratio

0.05%

as of 04/29/2025

NAV Price

$198.46

as of 07/17/2025

NAV Change

increased$2.27 (1.16%)

as of 07/17/2025

Performance

YTD returns (MP)

5.20%

as of 07/17/2025

YTD returns (NAV)

5.15%

as of 07/17/2025

Product summary
  • Seeks to track the performance of a benchmark index that measures the investment return of stocks from small and midsize companies.
  • Provides a convenient way to match the performance of virtually all regularly traded U.S. stocks except those in the S&P 500 Index.
  • Passively managed, using index sampling techniques.
Fund management

Vanguard Equity Index Group

Performance & fees

Total returns
Month-end/Quarterly Pre-Tax Toggle

as of 06/30/2025

Recent returns

Average annual

Month-end3-Month totalYTD1-yr3-yr5-yr10-yr

Since inception

12/27/2001

VXF (Market price)5.44%12.18%2.06%15.60%15.24%11.62%9.16%9.55%
VXF (NAV)
5.41%12.16%2.14%15.59%15.26%11.63%9.17%9.55%

Benchmark

5.40%12.16%2.12%15.57%15.08%11.51%9.04%9.46%
Market Price/Nav Toggle

as of 06/30/2025

Year1st Qtr2nd Qtr3rd Qtr4th QtrYear-end

Benchmark

2025-9.02%12.18%
20246.92%-3.48%8.17%4.70%16.89% 16.88%
20235.88%6.45%-3.36%15.22%25.49% 24.97%
2022-9.34%-20.68%-2.71%5.08%-26.49% -26.54%
20217.81%7.06%-3.30%0.69%12.38% 12.35%
2020-28.08%31.29%9.84%27.53%32.27% 32.17%
201916.02%2.95%-1.55%8.90%28.06% 27.95%
20180.20%5.94%4.43%-18.22%-9.35% -9.57%
20174.47%2.68%5.03%4.73%18.00% 18.11%
2016-0.83%3.43%7.21%5.69%16.22% 15.95%
20155.35%-0.47%-10.56%3.16%-3.26% -3.35%

as of 12/31/2024

Year

Capital return by NAV

Income return by NAV

Total return by NAV

Total return by Market Price

Benchmark

202415.55% 1.35%16.90% 16.89%16.88%
202323.64% 1.75%25.39% 25.49%24.97%
2022-27.29% 0.83%-26.46% -26.49%-26.54%
202111.18% 1.26%12.44% 12.38%12.35%
202030.48% 1.72%32.20% 32.27%32.17%
201926.31% 1.73%28.04% 28.06%27.95%
2018-10.70% 1.33%-9.37% -9.35%-9.57%
201716.54% 1.55%18.10% 18.00%18.11%
201614.39% 1.77%16.16% 16.22%15.95%
2015-4.54% 1.28%-3.26% -3.26%-3.35%
20146.14% 1.40%7.55% 7.55%7.50%
201336.80% 1.57%38.37% 38.25%38.24%
201216.56% 1.92%18.48% 18.64%18.45%
2011-4.69% 1.07%-3.61% -3.69%-3.71%
201026.29% 1.25%27.55% 27.63%27.46%

as of 06/30/2025

1-yr3-yr5-yr10-yr

Since inception

12/27/2001

VXF (Market price)15.60%53.05%73.26%140.31%752.75%
VXF (NAV)15.59% 53.10%73.36% 140.43% 753.11%

Benchmark

15.57%52.39%72.38%137.71%

Expense ratio

VXF

0.05%

Average expense ratio of similar funds3

0.87%

Historical volatility measures
as of 06/30/2025
BenchmarkR-Squared4Beta4
Spliced Extended Market Index21.001.00
Dow Jones U.S. Total Stock Market Index0.851.22

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate so that investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.

Price

Current market price

Current price as of Thu Jul 17 20:00:00GMT+0 2025

Market price change

increased$2.35 (1.20%)

Open

$0.00

High

$0.00

Low

$0.00

Bid/Ask spread

$1.70 (0.85%)

Volume

545

Size

12 X 12

Tick

UP

Quotes delayed at least 15 minutes. Source: FactSet.

Closing price

Closing price as of 07/17/2025

Market price change

increased$2.35 (1.20%)

NAV

$198.46

NAV change

increased$2.27 (1.16%)

30-day Median Bid/Ask spread

0.03%

52-week High

$207.01

as of 12/04/2024

52-week Low

$150.49

as of 04/08/2025

52-week Difference

$56.52 (37.56%)

Premium/Discount

$0.18

25-day Avg Volume

755,307.68

50-day Avg Volume

632,049.14

30 day SEC yield

1.12%

 

B SEC yield footnote code

 

as of 06/30/2025

Historical prices
Chart/Table Toggle
NameDateNAV
VXF 07/17/2025
$198.46

This chart can’t be displayed on mobile devices. For the best viewing experience, visit this page from your desktop or laptop.

Portfolio composition

Characteristics

as of 06/30/2025

FundamentalVXF
Benchmark
Number of stocks 3416 3412
Median market cap $8.2 B $8.2 B
Earnings growth rate 15.6% 15.6%
Short-term reserves
P/E ratio 21.0x 20.8x
P/B ratio 2.5x 2.5x
Turnover rate (Fiscal Year-end 12/31/2024) 10.6%
Return on equity 9.0% 9.0%
Foreign holdings 1.0%
Fund total net assets as of 06/30/2025 $112.8 B
Share class total net assets $22.3 B
Stylebox

Equity

Market Captialization Mid Investment Style Blend

Weighted exposures

as of 06/30/2025

Sectors5VXF Benchmark Benchmark+/- Weight Communication Services4.40%4.40%0.00%Consumer Discretionary10.70%10.70%0.00%Consumer Staples3.00%3.00%0.00%Energy3.70%3.70%0.00%Financials18.20%18.30%-0.10%Health Care11.10%11.10%0.00%Industrials18.20%18.30%-0.10%Information Technology19.00%19.00%0.00%Materials4.40%4.30%0.10%Other0.10%Real Estate5.30%5.30%0.00%Utilities1.90%1.90%0.00%

Weighted equity exposures exclude any temporary cash investments and equity index futures. Some short-term fixed income securities are classified as cash and are excluded from the weighted bond exposures.

Holding details

as of 06/30/2025

Ticker Holdings CUSIP SEDOL % of fundShares Market value
MSTR MicroStrategy Inc. Class A 594972408 2974329 1.37 % 3,911,653 $1,581,207,492
APP AppLovin Corp. Class A 03831W108 BMV3LG4 1.04 % 3,414,719 $1,195,424,828
SNOW Snowflake Inc. Class A 833445109 BN134B7 1.00 % 5,142,366 $1,150,707,240
MRVL Marvell Technology Inc. 573874104 BNKJSM5 0.90 % 13,314,995 $1,030,580,613
HOOD Robinhood Markets Inc. Class A 770700102 BP0TQN6 0.89 % 10,995,529 $1,029,511,380
CRH CRH plc G25508105 B01ZKD6 0.83 % 10,402,200 $954,921,960
NET Cloudflare Inc. Class A 18915M107 BJXC5M2 0.81 % 4,786,512 $937,342,645
RBLX ROBLOX Corp. 771049103 BMWBC20 0.78 % 8,544,978 $898,931,686
LNG Cheniere Energy Inc. 16411R208 2654364 0.72 % 3,416,810 $832,061,571
FLUT Flutter Entertainment plc G3643J108 BWZMZF4 0.68 % 2,722,982 $778,119,336
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
594972408
03831W108
833445109
573874104
770700102
G25508105
18915M107
771049103
16411R208
G3643J108
Ticker Description Shares
MSTR
APP
SNOW
MRVL
HOOD
CRH
NET
RBLX
LNG
FLUT
Ticker Holdings CUSIP SEDOL % of fundShares Market value
MSTR MicroStrategy Inc. Class A 594972408 2974329 1.37 % 3,911,653 $1,581,207,492
APP AppLovin Corp. Class A 03831W108 BMV3LG4 1.04 % 3,414,719 $1,195,424,828
SNOW Snowflake Inc. Class A 833445109 BN134B7 1.00 % 5,142,366 $1,150,707,240
MRVL Marvell Technology Inc. 573874104 BNKJSM5 0.90 % 13,314,995 $1,030,580,613
HOOD Robinhood Markets Inc. Class A 770700102 BP0TQN6 0.89 % 10,995,529 $1,029,511,380
CRH CRH plc G25508105 B01ZKD6 0.83 % 10,402,200 $954,921,960
NET Cloudflare Inc. Class A 18915M107 BJXC5M2 0.81 % 4,786,512 $937,342,645
RBLX ROBLOX Corp. 771049103 BMWBC20 0.78 % 8,544,978 $898,931,686
LNG Cheniere Energy Inc. 16411R208 2654364 0.72 % 3,416,810 $832,061,571
FLUT Flutter Entertainment plc G3643J108 BWZMZF4 0.68 % 2,722,982 $778,119,336
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
594972408
03831W108
833445109
573874104
770700102
G25508105
18915M107
771049103
16411R208
G3643J108
Ticker Description Shares
MSTR
APP
SNOW
MRVL
HOOD
CRH
NET
RBLX
LNG
FLUT
Ticker Holdings CUSIP SEDOL % of fundShares Market value
MSTR MicroStrategy Inc. Class A 594972408 2974329 1.37 % 3,911,653 $1,581,207,492
APP AppLovin Corp. Class A 03831W108 BMV3LG4 1.04 % 3,414,719 $1,195,424,828
SNOW Snowflake Inc. Class A 833445109 BN134B7 1.00 % 5,142,366 $1,150,707,240
MRVL Marvell Technology Inc. 573874104 BNKJSM5 0.90 % 13,314,995 $1,030,580,613
HOOD Robinhood Markets Inc. Class A 770700102 BP0TQN6 0.89 % 10,995,529 $1,029,511,380
CRH CRH plc G25508105 B01ZKD6 0.83 % 10,402,200 $954,921,960
NET Cloudflare Inc. Class A 18915M107 BJXC5M2 0.81 % 4,786,512 $937,342,645
RBLX ROBLOX Corp. 771049103 BMWBC20 0.78 % 8,544,978 $898,931,686
LNG Cheniere Energy Inc. 16411R208 2654364 0.72 % 3,416,810 $832,061,571
FLUT Flutter Entertainment plc G3643J108 BWZMZF4 0.68 % 2,722,982 $778,119,336
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
594972408
03831W108
833445109
573874104
770700102
G25508105
18915M107
771049103
16411R208
G3643J108
Ticker Description Shares
MSTR
APP
SNOW
MRVL
HOOD
CRH
NET
RBLX
LNG
FLUT
Ticker Holdings CUSIP SEDOL % of fundShares Market value
MSTR MicroStrategy Inc. Class A 594972408 2974329 1.37 % 3,911,653 $1,581,207,492
APP AppLovin Corp. Class A 03831W108 BMV3LG4 1.04 % 3,414,719 $1,195,424,828
SNOW Snowflake Inc. Class A 833445109 BN134B7 1.00 % 5,142,366 $1,150,707,240
MRVL Marvell Technology Inc. 573874104 BNKJSM5 0.90 % 13,314,995 $1,030,580,613
HOOD Robinhood Markets Inc. Class A 770700102 BP0TQN6 0.89 % 10,995,529 $1,029,511,380
CRH CRH plc G25508105 B01ZKD6 0.83 % 10,402,200 $954,921,960
NET Cloudflare Inc. Class A 18915M107 BJXC5M2 0.81 % 4,786,512 $937,342,645
RBLX ROBLOX Corp. 771049103 BMWBC20 0.78 % 8,544,978 $898,931,686
LNG Cheniere Energy Inc. 16411R208 2654364 0.72 % 3,416,810 $832,061,571
FLUT Flutter Entertainment plc G3643J108 BWZMZF4 0.68 % 2,722,982 $778,119,336
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
594972408
03831W108
833445109
573874104
770700102
G25508105
18915M107
771049103
16411R208
G3643J108
Ticker Description Shares
MSTR
APP
SNOW
MRVL
HOOD
CRH
NET
RBLX
LNG
FLUT

Distributions

Realized/Unrealized gains

as of 06/30/2025

Realized gain

-$15.14

% of NAV

decreased-7.86%

Unrealized gains of NAV

$44.72

% of NAV

increased23.20%

Fiscal year end

12/31/2025

Distribution schedule

Quarterly

How your fund can affect your taxes

A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses.

These tax implications don't apply to investors holding a fund in a tax-deferred account, such as an IRA or employer-sponsored retirement plan.

Learn about realized and unrealized gains and losses

How your fund can affect your taxes

A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses.

These tax implications don't apply to investors holding a fund in a tax-deferred account, such as an IRA or employer-sponsored retirement plan.

Learn about realized and unrealized gains and losses
Dividend income and capital gains
Type$/Share Payable date Record date Ex-dividend date
Dividend$0.53410006/30/202506/26/202506/26/2025
Dividend$0.61250003/27/202503/25/202503/25/2025
Dividend$0.57640012/26/202412/23/202412/23/2024
Dividend$0.48690010/01/202409/27/202409/27/2024
Dividend$0.55210007/02/202406/28/202406/28/2024
Dividend$0.46100003/27/202403/25/202403/22/2024

Distribution yields are not available for products with less than 12 months of distribution history.

Fund management

Vanguard Extended Market ETF seeks to track the investment performance of the S&P Completion Index, an unmanaged benchmark representing mid- and small-capitalization U.S. stocks. Vanguard’s Equity Index Group has refined techniques for reducing tracking error. The group uses proprietary software to implement trading decisions that accommodate cash flow and maintain close correlation with index characteristics. Vanguard’s refined indexing process, combined with low management fees and efficient trading, has provided tight tracking, net of expenses.

Vanguard Equity Index Group
Launched in 1975, The Vanguard Group, Malvern, Pennsylvania, is among the world’s largest equity and fixed income managers. As chief investment officer, Gregory Davis, CFA, oversees Vanguard’s Equity Index, Investment Strategy, Quantitative Equity, and Fixed Income Groups. Rodney Comegys, Principal and global head of Vanguard's Equity Index Group, is responsible for all equity index funds. The Equity Index Group manages indexed equity portfolios covering U.S. and international markets. It has developed sophisticated portfolio construction methodologies and efficient trading strategies that seek to deliver returns that are highly correlated with target portfolio benchmarks. The group has advised Vanguard Extended Market ETF since 2001.
Michelle Louie
CFA, Principal Portfolio manager.
Advised the fund since 2023. Worked in investment management since 2011. B.S., The American University. M.B.A., Georgia Institute of Technology.
Nick Birkett
CFA, Portfolio manager.
Advised the fund since 2023. Worked in investment management since 2005. BSc, University of Bath.
Walter Nejman
Portfolio manager.
Advised the fund since 2025. Worked in investment management since 2008. B.A., Arcadia University. M.B.A., Villanova University.

Performance & fees

1
Effective July 15, 2024, the market price returns are calculated using the official closing price as reported by the ETF’s primary exchange. Prior to July 15, 2024, the market price returns were calculated using the midpoint between the bid and ask prices as of the closing time of the New York Stock Exchange (typically 4 p.m., Eastern time). The returns shown do not represent the returns you would receive if you traded shares at other times.
2
Dow Jones Wilshire 4500 Index through June 17, 2005; S&P Transitional Completion Index through September 16, 2005; S&P Completion Index thereafter.
3

Most recent data available. © 2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) does not constitute investment advice offered by Morningstar; and (4) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

4

R-squared and beta are calculated from trailing 36-month fund returns relative to the associated benchmark.

Portfolio composition

5

Sector categories are based on the Global Industry Classification Standard (“GICS”), except for the “Other” category (if applicable), which includes securities that have not been provided a GICS classification as of the effective reporting period.

© 2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Vanguard ETFs as a share class: Vanguard ETFs® (exchange-traded funds) are a class of shares listed for trading on an exchange. The shares are available only through a broker, including Vanguard Brokerage Services®.

Vanguard ETF® Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.

Total returns: Short-term total return information is provided only as a service. Historical performance—particularly short-term performance—is no guarantee of future returns. Price, yield, and return on an actual investment will fluctuate, and you may have a gain or loss when you sell. Average annual returns include changes in price and reinvestments of dividends and capital gains. Since-inception returns for less than 1 year and year-to-date returns aren't annualized. Index performance is provided as a benchmark but isn't illustrative of any particular investment. You can't invest in an index.

Standardized returns: To see quarterly fee-adjusted returns, refer to the Price & Performance details.

Expense ratios: Expense ratios are displayed on Overview. For investments that are less than 1 fiscal year old, expense ratios are estimated.

Risk: All investing is subject to risk, including the possible loss of the money you invest. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.

Vanguard average ETF expense ratio: 0.05%. Industry average ETF expense ratio: 0.22%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2023.

An investment in the fund could lose money over short or even long periods. You should expect the fund’s share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. Although Extended Market ETF is listed for trading on the NYSE Arca , it is possible that an active trading market may not be maintained. Trading of Extended Market ETF on the NYSE Arca may be halted if NYSE Arca officials deem such action appropriate, if Extended Market ETF is delisted from the NYSE Arca , or if the activation of marketwide “circuit breakers” halts stock trading generally. Performance could be hurt by:

  • Stock market risk: The chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. The fund’s target index may, at times, become focused in stocks of a particular sector, category, or group of companies. Because the fund seeks to track its target index, the fund may underperform the overall stock market.
  • Investment style risk: The chance that returns from small- and mid-capitalization stocks will trail returns from the overall stock market. Historically, small- and mid-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently. Small and mid-size companies tend to have greater stock volatility because, among other things, these companies are more sensitive to changing economic conditions.
  • Index sampling risk: The chance that the securities selected for the fund, in the aggregate, will not provide investment performance matching that of the index. Index sampling risk for the fund should be low.
  • Index-related risks: The fund is subject to risks associated with index investing, which include passive management risk, tracking error risk, and index provider risk. Passive management risk is the chance that the fund's use of an indexing strategy will negatively impact the fund's performance. Because the fund seeks to track the performance of its target index regardless of how that index is performing, the fund's performance may be lower than it would be if the fund were actively managed. Tracking error risk is the chance that the fund's performance will deviate from the performance of its target index. Tracking error risk may be heightened during times of increased market volatility or under other unusual market conditions. Index provider risk is the chance that the fund will be negatively impacted by changes or errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the fund and, as a result, the fund's shareholders.