Actively managed funds
Tap into the experience of top money managers from Vanguard and around the world
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.
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.
Outperformance by design
Actively managed funds try to beat market returns with investments hand-picked by professional money managers. You may be surprised by our active funds' performance.
Access premier money managers
Our size and reputation allow us to carefully select partners from across the globe. We build deep relationships with their investment teams and continually evaluate their performance.
Trust in our disciplined investment approach
Because creating long-term value matters to you, we pursue the funds' objectives without taking excessive risk.
Have realistic expectations
Actively managed funds can add value to your portfolio because they offer an opportunity for outperformance. But be mindful—there's also the possibility they may underperform.
Diversify your assets
By partnering actively managed funds with
Invest for the long term
Strategically choose actively managed funds for your portfolio with your long-term goals in mind, ignoring short-term market volatility.
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For more information about Vanguard funds or ETFs, visit
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
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.