Actively managed funds

Tap into the experience of top money managers from Vanguard and around the world

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What are actively managed funds?

Actively managed funds are investment funds in which a professional portfolio manager makes ongoing decisions about which securities to buy, hold, or sell within the fund s portfolio. These funds are common in mutual funds and certain exchange-traded funds (ETFs).

Under the radar

Over the past 10 years, 83% of our actively managed funds performed better than their peer-group averages.1 And when our funds outperform, you have the opportunity to earn more. Surprised at our success with actively managed funds? See how they can help you diversify your portfolio.

Actively managed funds aren t new to us…

Actively managed funds have been a significant part of our history going back to our start in 1975. In fact, our first 11 mutual funds were actively managed.

… and they ve been quietly growing

The numbers tell the story of how we ve become one of the largest managers of actively managed funds in the world. Today, we manage more than $2 trillion in active assets.2

Explore our active funds

You ve known us for leading the indexing revolution. But we recognize some investors follow different paths to financial success. That s why we offer more than 75 U.S.-based actively managed funds, spanning a range of stock, bond, and balanced funds in U.S. and international investments.

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ETFs vs mutual funds: A comparison

There are funds for every investor. Find one that s right for you.

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Choosing between funds & individual securities

You can choose to add both to your portfolio. See why it matters.

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How much should you invest in stocks or bonds?

See how 9 model portfolios have performed in the past.

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Outperformance by design

For more information about Vanguard funds or ETFs, visit vanguard.com to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.

For the 10-year period ended March 31, 2026, 6 of 6 Vanguard money market funds, 43 of 52 Vanguard bond funds, 5 of 5 Vanguard balanced funds, and 30 of 38 Vanguard stock funds―for a total of 84 of 101 Vanguard funds―outperformed their peer group averages. Results will vary for other time periods. Only funds with a minimum 10-year history were included in the comparison. (Source: LSEG Lipper ) Note that the competitive performance data shown represent past performance, which is not a guarantee of future results, and that all investments are subject to risks. For the most recent performance, visit our website at www.vanguard.com/performance.

As of April 7, 2026.

All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss.