VIEIX Vanguard Extended Market Index Fund Institutional Shares

Also available as an ETF (starting at the price of $1).

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 04/26/2024

as of 03/31/2025

Investment minimum

$5 M

as of 04/03/2025

NAV price

$124.40

as of 04/03/2025

Overview

Key facts

CUSIP

922908884

Management style

Index

Asset class

Domestic Stock - More Aggressive

Category

Mid Blend

Inception date

07/07/1997

Fund Number

0856

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

$5,000,000

NAV Price

$124.40

as of 04/03/2025

NAV change

decreased-$9.34 (-6.98%)

as of 04/03/2025

Expense Ratio

0.05%

as of 04/26/2024

Performance

YTD returns

-13.36%

as of 04/03/2025

Product summary

This fund offers investors a low-cost way to gain broad exposure to U.S. mid- and small-capitalization stocks in one fund. The fund invests in about 3,000 stocks, which span many different industries and account for about one-fourth of the market-cap of the U.S. stock market. One of the fund’s risks is its full exposure to the mid- and small-cap markets, which tend to be more volatile than the large-cap market. The fund is considered a complement to Vanguard 500 Index Fund. Together they provide exposure to the entire U.S. equity market.

Fund management

Vanguard Equity Index Group

Performance & fees

Total returns
Month-end/Quarterly Pre-Tax Toggle

as of 03/31/2025

Recent returns

Average annual

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

Since inception

07/07/1997

VIEIX

-7.93%-8.93%-8.93%-0.46%2.69%15.19%7.89%8.56%

Benchmark

-7.94%-8.95%-8.95%-0.50%2.53%15.05%7.75%8.41%

as of 03/31/2025

Year1st Qtr2nd Qtr3rd Qtr4th QtrYear-end

Benchmark

2025-8.93%
20246.97%-3.42%8.09%4.69%16.91% 16.88%
20235.85%6.46%-3.34%15.13%25.41% 24.97%
2022-9.33%-20.67%-2.73%5.12%-26.46% -26.54%
20217.79%7.12%-3.27%0.70%12.47% 12.35%
2020-27.99%31.15%9.87%27.44%32.23% 32.17%
201915.99%3.04%-1.60%8.89%28.05% 27.95%
20180.16%5.99%4.37%-18.18%-9.35% -9.57%
20174.57%2.67%4.97%4.82%18.12% 18.11%
2016-0.87%3.42%7.27%5.62%16.15% 15.95%
20155.31%-0.44%-10.55%3.17%-3.24% -3.35%

as of 12/31/2024

Year

Capital return by NAV

Income return by NAV

Total return by NAV

Benchmark

202415.55% 1.36%16.91%16.88%
202323.64% 1.76%25.41%24.97%
2022-27.29% 0.83%-26.46%-26.54%
202111.18% 1.28%12.47%12.35%
202030.48% 1.75%32.23%32.17%
201926.30% 1.75%28.05%27.95%
2018-10.69% 1.34%-9.35%-9.57%
201716.54% 1.58%18.12%18.11%
201614.38% 1.78%16.15%15.95%
2015-4.53% 1.29%-3.24%-3.35%
20146.14% 1.43%7.56%7.50%
201336.83% 1.59%38.42%38.24%
201216.57% 1.93%18.50%18.45%
2011-4.68% 1.10%-3.57%-3.71%
201026.29% 1.30%27.59%27.46%

as of 03/31/2025

1-yr3-yr5-yr10-yr

Since inception

07/07/1997

VIEIX-0.46% 8.30%102.79% 113.67% 874.61%

Benchmark

-0.50%7.77%101.55%111.00%

Expense ratio

VIEIX

0.05%

Average expense ratio of similar funds2

0.88%

Historical volatility measures
as of 02/28/2025
BenchmarkR-Squared3Beta3
Spliced Extended Market Index11.001.00
Dow Jones U.S. Total Stock Market Index0.861.19
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 04/03/2025

NAV

$124.40

NAV change

decreased-$9.34 (-6.98%)

52-week High

$157.05

as of 12/04/2024

52-week Low

$122.73

as of 04/19/2024

52-week Difference

$34.32 (27.96%)

30 day SEC yield

1.22%

 

B SEC yield footnote code

 

as of 03/31/2025

Historical prices
Chart/Table Toggle
NameDateNAV
VIEIX 04/03/2025
$124.40

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 02/28/2025

FundamentalVIEIX
Benchmark
Number of stocks 3453 3449
Median market cap $8.2 B $8.2 B
Earnings growth rate 14.4% 14.4%
Short-term reserves
P/E ratio 20.2x 20.1x
P/B ratio 2.5x 2.5x
Turnover rate (Fiscal Year-end 12/31/2024) 10.6%
Return on equity 9.3% 9.3%
Foreign holdings 1.5%
Fund total net assets as of 02/28/2025 $110.1 B
Share class total net assets $15.4 B
Stylebox

Equity

Market Captialization Mid Investment Style Blend

Weighted exposures

as of 02/28/2025

4.20%CommunicationServices
Sectors4VIEIX Benchmark Benchmark+/- Weight Communication Services4.20%4.20%0.00%Consumer Discretionary12.00%11.90%0.10%Consumer Staples3.00%3.00%0.00%Energy4.10%4.10%0.00%Financials18.50%18.50%0.00%Health Care11.50%11.50%0.00%Industrials17.10%17.10%0.00%Information Technology17.40%17.50%-0.10%Materials4.80%4.80%0.00%Real Estate5.60%5.60%0.00%Utilities1.80%1.80%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 02/28/2025

Ticker Holdings Shares Market value
MRVL Marvell Technology Inc. 13,159,517 $1,208,306,851
APP AppLovin Corp. Class A 3,266,474 $1,064,021,241
CRH CRH plc 10,304,143 $1,056,380,740
DASH DoorDash Inc. Class A 5,081,338 $1,008,340,713
SNOW Snowflake Inc. Class A 5,092,896 $901,951,882
LNG Cheniere Energy Inc. 3,405,324 $778,320,853
FLUT Flutter Entertainment plc 2,701,819 $758,103,393
MSTR MicroStrategy Inc. Class A 2,904,158 $741,809,078
TEAM Atlassian Corp. Class A 2,452,323 $697,097,336
NET Cloudflare Inc. Class A 4,645,586 $675,003,646
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
573874104
03831W108
25809K105
833445109
16411R208
G3643J108
594972408
049468101
18915M107
Ticker Description Shares
MRVL
APP
CRH
DASH
SNOW
LNG
FLUT
MSTR
TEAM
NET
Ticker Holdings Shares Market value
MRVL Marvell Technology Inc. 13,159,517 $1,208,306,851
APP AppLovin Corp. Class A 3,266,474 $1,064,021,241
CRH CRH plc 10,304,143 $1,056,380,740
DASH DoorDash Inc. Class A 5,081,338 $1,008,340,713
SNOW Snowflake Inc. Class A 5,092,896 $901,951,882
LNG Cheniere Energy Inc. 3,405,324 $778,320,853
FLUT Flutter Entertainment plc 2,701,819 $758,103,393
MSTR MicroStrategy Inc. Class A 2,904,158 $741,809,078
TEAM Atlassian Corp. Class A 2,452,323 $697,097,336
NET Cloudflare Inc. Class A 4,645,586 $675,003,646
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
573874104
03831W108
25809K105
833445109
16411R208
G3643J108
594972408
049468101
18915M107
Ticker Description Shares
MRVL
APP
CRH
DASH
SNOW
LNG
FLUT
MSTR
TEAM
NET
Ticker Holdings Shares Market value
MRVL Marvell Technology Inc. 13,159,517 $1,208,306,851
APP AppLovin Corp. Class A 3,266,474 $1,064,021,241
CRH CRH plc 10,304,143 $1,056,380,740
DASH DoorDash Inc. Class A 5,081,338 $1,008,340,713
SNOW Snowflake Inc. Class A 5,092,896 $901,951,882
LNG Cheniere Energy Inc. 3,405,324 $778,320,853
FLUT Flutter Entertainment plc 2,701,819 $758,103,393
MSTR MicroStrategy Inc. Class A 2,904,158 $741,809,078
TEAM Atlassian Corp. Class A 2,452,323 $697,097,336
NET Cloudflare Inc. Class A 4,645,586 $675,003,646
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
573874104
03831W108
25809K105
833445109
16411R208
G3643J108
594972408
049468101
18915M107
Ticker Description Shares
MRVL
APP
CRH
DASH
SNOW
LNG
FLUT
MSTR
TEAM
NET

Distributions

Realized/Unrealized gains

as of 02/28/2025

Realized gain

-$9.73

% of NAV

decreased-6.83%

Unrealized gains of NAV

$31.43

% of NAV

increased22.05%

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 Reinvest date Reinvest price
Dividend$0.46640003/26/202503/24/202503/25/2025$137.40
Dividend$0.44050012/24/202412/20/202412/23/2024$145.58
Dividend$0.37270009/30/202409/26/202409/27/2024$137.88
Dividend$0.42220007/01/202406/27/202406/28/2024$128.04
Dividend$0.35300003/25/202403/21/202403/22/2024$130.60
Dividend$0.51580012/20/202312/18/202312/19/2023$124.36

Fund management

Vanguard Extended Market Index Fund 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 Index Fund since 1987.
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
Dow Jones Wilshire 4500 Index through June 17, 2005; S&P Transitional Completion Index through September 16, 2005; S&P Completion 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:

  • 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 target index tracks a subset of the U.S. stock market, which could cause the fund to perform differently from the overall stock market. In addition, the fund’s target index may, at times, become focused in stocks of a particular market sector, which would subject the fund to proportionately higher exposure to the risks of that sector.
  • Investment style risk, which is 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. The stock prices of small and mid-size companies tend to experience greater volatility because, among other things, these companies tend to be more sensitive to changing economic conditions.
  • Index sampling risk, which is the chance that the securities selected for the fund, in the aggregate, will not provide investment performance matching that of the fund’s target index. Index sampling risk for the fund is expected to be low.