VGENX Vanguard Energy Fund Investor Shares

Also available at a lower cost as an Admiral™ Shares mutual fund.

Management style

Active

Asset class

Domestic Stock - Sector-Specific

Category

Equity Energy

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

0.44%

as of 05/24/2024

as of 12/31/2024

Investment minimum

$3,000

as of 01/17/2025

NAV price

$45.24

as of 01/17/2025

Overview

Key facts

CUSIP

921908109

Management style

Active

Asset class

Domestic Stock - Sector-Specific

Category

Equity Energy

Inception date

05/23/1984

Fund Number

0051

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

$3,000

NAV Price

$45.24

as of 01/17/2025

NAV change

increased$0.16 (0.35%)

as of 01/17/2025

Expense Ratio

0.44%

as of 05/24/2024

Performance

YTD returns

4.97%

as of 01/17/2025

Product summary

This actively managed fund offers investors low-cost exposure to U.S. and non-U.S. companies that are principally engaged in energy-related activities, such as production and transmission of energy or energy fuels, the making of component products for such activities, energy research, and energy conservation or pollution control. In addition, the fund may be invested up to 100% in foreign securities, which can be more volatile than domestic holdings. Returns may vary widely from year-to-year, so this fund may be considered complementary to a diversified portfolio with a long-term time horizon.

Fund management

Wellington Management Company LLP

Performance & fees

Total returns
Month-end/Quarterly Pre-Tax Toggle

as of 12/31/2024

Recent returns

Average annual

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

Since inception

05/23/1984

VGENX

-6.06%-3.31%10.58%10.58%14.16%5.61%2.88%9.34%

Benchmark

-6.79%-6.07%5.45%5.45%8.23%0.33%0.53%9.24%

as of 12/31/2024

Year1st Qtr2nd Qtr3rd Qtr4th QtrYear-end

Benchmark

20246.40%2.12%5.26%-3.31%10.58% 5.45%
2023-1.16%1.51%5.29%2.97%8.78% 3.29%
202214.10%-4.93%-0.86%15.01%23.69% 16.40%
202110.94%5.70%2.34%6.41%27.71% 23.04%
2020-41.05%16.09%-10.99%13.53%-30.84% -34.83%
201915.16%-1.59%-5.79%6.02%13.20% 12.78%
2018-2.42%8.96%1.65%-23.34%-17.15% -13.25%
2017-4.01%-6.16%7.61%6.43%3.17% 6.77%
20167.84%12.38%4.16%5.44%33.10% 27.66%
2015-1.58%-1.00%-18.84%-0.72%-21.50% -22.20%
20142.48%11.38%-10.16%-16.40%-14.26% -13.47%

as of 12/31/2024

Year

Capital return by NAV

Income return by NAV

Total return by NAV

Benchmark

20246.80% 3.78%10.58%5.45%
20234.50% 4.27%8.78%3.29%
202218.16% 5.52%23.69%16.40%
202123.21% 4.50%27.71%23.04%
2020-33.83% 2.99%-30.84%-34.83%
20199.57% 3.63%13.20%12.78%
2018-19.48% 2.33%-17.15%-13.25%
20170.13% 3.04%3.17%6.77%
201630.71% 2.39%33.10%27.66%
2015-23.47% 1.97%-21.50%-22.20%
2014-16.04% 1.77%-14.26%-13.47%
201315.87% 2.27%18.14%13.60%
20120.36% 2.30%2.67%2.47%
2011-3.52% 1.78%-1.74%-3.00%
201011.74% 1.70%13.43%16.48%
200936.19% 2.17%38.36%13.82%

as of 12/31/2024

1-yr3-yr5-yr10-yr

Since inception

05/23/1984

VGENX10.58% 48.78%31.40% 32.84% 3657.83%

Benchmark

5.45%26.78%1.66%5.46%

Expense ratio

VGENX

0.44%

Average expense ratio of similar funds2

0.95%

Historical volatility measures
as of 12/31/2024
BenchmarkR-Squared3Beta3
Spliced Energy Index10.971.04
Dow Jones U.S. Total Stock Market Index0.330.58
Fund-specific fees

Purchase fee

None

Fund family redemption fee

None

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.

Performance data do not reflect the deduction of the $25 annual account service fee that may be applied to certain accounts. If this fee was included, performance would be lower.

Price

Closing price

Closing price as of 01/17/2025

NAV

$45.24

NAV change

increased$0.16 (0.35%)

52-week High

$52.97

as of 11/21/2024

52-week Low

$42.85

as of 12/30/2024

52-week Difference

$10.12 (23.62%)

30 day SEC yield

3.72%

 

B SEC yield footnote code

 

as of 12/31/2024

Historical prices
Chart/Table Toggle
NameDateNAV
VGENX 01/17/2025
$45.24

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 12/31/2024

FundamentalVGENX
Benchmark
Number of stocks 43 247
Median market cap $63.9 B $58.7 B
Earnings growth rate 19.5% 17.9%
Short-term reserves 0.2%
P/E ratio 14.3x 14.0x
P/B ratio 1.7x 1.7x
Turnover rate (Fiscal Year-end 01/31/2024) 29.5%
Return on equity 9.3% 10.2%
Foreign holdings 34.8%
Fund total net assets as of 12/31/2024 $5.5 B
Share class total net assets $1.8 B
Weighted exposures

as of 12/31/2024

0.50%Coal & ConsumableFuels
Sectors4VGENX Benchmark Benchmark+/- Weight Coal & Consumable Fuels0.50%1.40%-0.90%Industrials0.40%Information Technology0.90%Integrated Oil & Gas30.60%29.70%0.90%Materials0.50%Oil & Gas Equipment & Services1.50%2.60%-1.10%Oil & Gas Exploration & Production8.00%11.50%-3.50%Oil & Gas Refining & Marketing3.70%6.00%-2.30%Oil & Gas Storage & Transportation10.60%9.10%1.50%Utilities43.40%39.60%3.80%

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 09/30/2024

Ticker Holdings Shares Market value
XOM Exxon Mobil Corp. 4,700,236 $550,961,664
SHEL Shell plc 9,100,893 $295,248,686
SRE Sempra Energy 3,159,513 $264,230,072
TTE TotalEnergies SE 3,808,372 $247,297,695
CVX Chevron Corp. 1,642,363 $241,870,799
SO Southern Co. 2,509,641 $226,319,425
DUK Duke Energy Corp. 1,918,986 $221,259,086
ENGI Engie SA 12,778,864 $220,974,509
AEP American Electric Power Co. Inc. 2,122,410 $217,759,266
WMB Williams Cos. Inc. 4,640,574 $211,842,203
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
30231G102
816851109
166764100
842587107
26441C204
025537101
969457100
Ticker Description Shares
XOM
SHEL
SRE
TTE
CVX
SO
DUK
ENGI
AEP
WMB
Ticker Holdings Shares Market value
XOM Exxon Mobil Corp. 4,700,236 $550,961,664
SHEL Shell plc 9,100,893 $295,248,686
SRE Sempra Energy 3,159,513 $264,230,072
TTE TotalEnergies SE 3,808,372 $247,297,695
CVX Chevron Corp. 1,642,363 $241,870,799
SO Southern Co. 2,509,641 $226,319,425
DUK Duke Energy Corp. 1,918,986 $221,259,086
ENGI Engie SA 12,778,864 $220,974,509
AEP American Electric Power Co. Inc. 2,122,410 $217,759,266
WMB Williams Cos. Inc. 4,640,574 $211,842,203
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
30231G102
816851109
166764100
842587107
26441C204
025537101
969457100
Ticker Description Shares
XOM
SHEL
SRE
TTE
CVX
SO
DUK
ENGI
AEP
WMB
Ticker Holdings Shares Market value
XOM Exxon Mobil Corp. 4,700,236 $550,961,664
SHEL Shell plc 9,100,893 $295,248,686
SRE Sempra Energy 3,159,513 $264,230,072
TTE TotalEnergies SE 3,808,372 $247,297,695
CVX Chevron Corp. 1,642,363 $241,870,799
SO Southern Co. 2,509,641 $226,319,425
DUK Duke Energy Corp. 1,918,986 $221,259,086
ENGI Engie SA 12,778,864 $220,974,509
AEP American Electric Power Co. Inc. 2,122,410 $217,759,266
WMB Williams Cos. Inc. 4,640,574 $211,842,203
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
30231G102
816851109
166764100
842587107
26441C204
025537101
969457100
Ticker Description Shares
XOM
SHEL
SRE
TTE
CVX
SO
DUK
ENGI
AEP
WMB

Distributions

Realized/Unrealized gains

as of 12/31/2024

Realized gain

$0.15

% of NAV

increased0.34%

Unrealized gains of NAV

$6.41

% of NAV

increased14.88%

Fiscal year end

01/31/2025

Distribution schedule

Annually

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 Reinvest date Reinvest price
Dividend$1.63360012/31/202412/27/202412/30/2024$42.85
ST Cap Gain$0.40943112/31/202412/27/202412/30/2024$42.85
LT Cap Gain$4.38367812/31/202412/27/202412/30/2024$42.85
Dividend$0.05170003/28/202403/26/202403/27/2024$47.36
LT Cap Gain$1.73335003/28/202403/26/202403/27/2024$47.36
Dividend$1.86420012/28/202312/26/202312/27/2023$46.83
LT Cap Gain$1.22562712/28/202312/26/202312/27/2023$46.83

Fund management

Vanguard Energy Fund seeks long-term capital appreciation. The advisor, Wellington, invests in a portfolio of stocks broadly representative of the energy industry, as defined in the fund’s prospectus. The portfolio typically includes large- and mid-capitalization stocks of companies in traditional energy segments, such as oil and natural gas; newer segments, such as geothermal and solar power; and industries associated with energy and related products worldwide as defined in the fund’s prospectus. The investment team at Wellington Management Company LLP, uses a bottom-up approach, in which stocks are chosen based on the advisor’s estimates of fundamental investment value. The investment team includes experienced industry analysts who identify companies that offer significant potential for capital appreciation and possess high-quality earnings sustainable through cyclical market fluctuations. The advisor’s investment process emphasizes company fundamentals, management track record, and security valuation.

Wellington Management Company LLP
Founded in 1928, Wellington Management Company LLP, Boston, Massachusetts, is among the nation’s oldest and most respected institutional investment managers. The firm has advised Vanguard Energy Fund since 1984.

Investment Manager Biography

G. Thomas Levering
Senior Managing Director, Partner, and Global Industry Analyst Portfolio manager.
Advised the fund since 2020. Worked in investment management since 2001. A.B., Harvard University. M.B.A., The Wharton School of the University of Pennsylvania.

Wellington Management Company

Wellington Management Company CEO Jean Hynes describes how the firm's collaborative culture, private ownership model and global investment resources help set it apart.
Portrait of Jean Hynes
View transcriptVideo length: 2:00

Performance & fees

1
S&P 500 Index through November 30, 2000; S&P Energy Sector Index through May 31, 2010; MSCI All Country World Energy Index through October 20, 2020; MSCI All Country World Energy + Utilities Index thereafter.
2

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.

3

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

Portfolio composition

4

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 average mutual fund expense ratio: 0.09%. Industry average mutual fund expense ratio: 0.50%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2023.

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.

An investment in the fund could lose money over short or long periods of time. You should expect the fund’s share price and total return to fluctuate within a wide range. The fund is subject to the following risks, which could affect the fund’s performance:

  • Industry concentration risk, which is the chance that there will be particular problems affecting an entire industry. Any fund that concentrates in a particular industry will generally be more volatile than a fund that invests more broadly. Because the fund normally invests at least 80% of its assets in the common stocks of companies principally engaged in activities in the energy industry, the fund’s performance largely depends—for better or for worse—on the overall condition of the energy industry. The energy industry could be adversely affected by energy prices, supply-and-demand for energy resources, and various political, regulatory, and economic factors. Additionally, commodity prices may have a significant impact on the stock prices of energy companies.
  • Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The fund’s investments in foreign stocks can be riskier than U.S. stock investments. Foreign stocks may be more volatile and less liquid than U.S. stocks. The prices of foreign stocks and the prices of U.S. stocks may move in opposite directions.
  • Manager risk, which is the chance that poor security selection will cause the fund to underperform relevant benchmarks or other funds with a similar investment objective.
  • Country risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value of securities issued by companies in foreign countries.
  • Currency risk, which is the chance that the value of a foreign investment, measured in U.S. dollars, will decrease because of unfavorable changes in currency exchange rates.
  • Asset concentration risk, which is the chance that, because the fund tends to invest a high percentage of assets in its ten largest holdings, the fund’s performance may be hurt disproportionately by the poor performance of relatively few stocks.
  • Nondiversification risk, which is the chance that the fund’s performance may be hurt disproportionately by the poor performance of relatively few stocks or even a single stock. The fund is considered nondiversified, which means that it may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified mutual funds.