NAV
Equity
Market Captialization Small Investment Style Blend
Also available as an ETF (starting at the price of $1).
Management style
Asset class
Category
Risk / reward scale
Less
More
Investment minimum
as of 03/26/2025
NAV price
as of 03/26/2025
CUSIP | 922908686 |
|---|---|
Management style | Index |
Asset class | Domestic Stock - More Aggressive |
Category | Small Blend |
Inception date | 11/13/2000 |
Fund Number | 0548 |
Minimum Investment
NAV Price
as of 03/26/2025
NAV change
as of 03/26/2025
YTD returns
as of 03/26/2025
This low-cost index fund provides broad exposure to the small-capitalization U.S. equity market. The fund seeks to track an index of small-sized companies. One of the fund’s primary risks is its focus on the small-cap arena, which is an often-volatile segment of the market. Investors looking to add a small-cap equity allocation to an already diversified portfolio may wish to consider this option.
Vanguard Equity Index Group
as of 02/28/2025
Recent returns
Average annual
| Month-end | 3-Month total | YTD | 1-yr | 3-yr | 5-yr | 10-yr | Since inception 11/13/2000 | |
|---|---|---|---|---|---|---|---|---|
VSMAX | -4.84% | -8.39% | -1.14% | 9.62% | 5.79% | 11.50% | 8.59% | 9.11% |
| -4.84% | -8.39% | -1.13% | 9.61% | 5.74% | 11.46% | 8.56% | 9.06% |
as of 12/31/2024
| Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-end | |
|---|---|---|---|---|---|---|
| 2025 | — | — | — | — | — | — |
| 2024 | 7.52% | -4.14% | 9.02% | 1.66% | 14.23% | 14.22% |
| 2023 | 3.74% | 5.32% | -4.61% | 13.41% | 18.20% | 18.09% |
| 2022 | -5.74% | -16.88% | -2.61% | 7.97% | -17.61% | -17.64% |
| 2021 | 10.22% | 5.60% | -2.62% | 3.87% | 17.73% | 17.71% |
| 2020 | -30.07% | 26.66% | 5.79% | 27.10% | 19.11% | 19.07% |
| 2019 | 16.18% | 2.87% | -1.45% | 8.14% | 27.37% | 27.35% |
| 2018 | -0.21% | 6.20% | 4.77% | -18.33% | -9.31% | -9.33% |
| 2017 | 3.74% | 1.95% | 4.57% | 5.10% | 16.24% | 16.24% |
| 2016 | 1.00% | 3.98% | 6.17% | 6.10% | 18.30% | 18.26% |
| 2015 | 4.81% | -0.56% | -10.33% | 3.11% | -3.64% | -3.68% |
as of 12/31/2024
| Year | Capital return by NAV | Income return by NAV | Total return by NAV | |
|---|---|---|---|---|
| 2024 | 12.69% | 1.54% | 14.23% | 14.22% |
| 2023 | 16.20% | 1.99% | 18.20% | 18.09% |
| 2022 | -18.85% | 1.24% | -17.61% | -17.64% |
| 2021 | 16.25% | 1.48% | 17.73% | 17.71% |
| 2020 | 17.45% | 1.66% | 19.11% | 19.07% |
| 2019 | 25.53% | 1.84% | 27.37% | 27.35% |
| 2018 | -10.67% | 1.35% | -9.31% | -9.33% |
| 2017 | 14.59% | 1.65% | 16.24% | 16.24% |
| 2016 | 16.44% | 1.87% | 18.30% | 18.26% |
| 2015 | -5.05% | 1.41% | -3.64% | -3.68% |
| 2014 | 5.97% | 1.53% | 7.50% | 7.54% |
| 2013 | 36.02% | 1.80% | 37.81% | 37.77% |
| 2012 | 16.08% | 2.16% | 18.24% | 18.20% |
| 2011 | -4.00% | 1.31% | -2.69% | -2.75% |
| 2010 | 26.47% | 1.42% | 27.89% | 27.82% |
as of 02/28/2025
| 1-yr | 3-yr | 5-yr | 10-yr | Since inception 11/13/2000 | |
|---|---|---|---|---|---|
| VSMAX | 9.62% | 18.40% | 72.35% | 127.91% | 731.46% |
| 9.61% | 18.23% | 72.03% | 127.26% | — |
VSMAX
0.05%
Average expense ratio of similar funds2
0.97%
Purchase fee
None
Fund family redemption fee
None
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.
Closing price as of 03/26/2025
NAV
NAV change
52-week High
as of 11/25/2024
52-week Low
as of 04/18/2024
52-week Difference
| Name | Date | NAV |
|---|---|---|
| VSMAX | 03/26/2025 | $109.43 |
This chart can’t be displayed on mobile devices. For the best viewing experience, visit this page from your desktop or laptop.
as of 02/28/2025
| Fundamental | VSMAX | |
|---|---|---|
| Number of stocks | 1364 | 1356 |
| Median market cap | $8.0 B | $8.0 B |
| Earnings growth rate | 12.8% | 12.8% |
| Short-term reserves | — | — |
| P/E ratio | 19.7x | 19.7x |
| P/B ratio | 2.4x | 2.4x |
| Turnover rate (Fiscal Year-end 12/31/2024) | 12.9% | — |
| Return on equity | 10.3% | 10.3% |
| Foreign holdings | 0.8% | — |
| Fund total net assets as of 02/28/2025 | $153.5 B | — |
| Share class total net assets | $55.5 B | — |
Equity
Market Captialization Small Investment Style Blend
as of 02/28/2025
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.
as of 02/28/2025
| Ticker | Holdings | Shares | Market value |
|---|---|---|---|
| SW | Smurfit WestRock plc | 13,280,357 | $691,508,189 |
| WSM | Williams-Sonoma Inc. | 3,142,955 | $611,556,184 |
| ATO | Atmos Energy Corp. | 3,967,544 | $603,582,469 |
| EXE | Expand Energy Corp. | 5,603,626 | $554,086,539 |
| NRG | NRG Energy Inc. | 5,171,877 | $546,719,118 |
| FCNCA | First Citizens BancShares Inc./NC Class A | 265,187 | $543,118,887 |
| DECK | Deckers Outdoor Corp. | 3,878,766 | $540,544,830 |
| FWONK | Liberty Media Corp-Liberty Formula One | 5,386,338 | $519,404,573 |
| DKNG | DraftKings Inc. | 11,827,255 | $518,743,404 |
| TPR | Tapestry Inc. | 5,949,625 | $508,216,968 |
| Ticker | Holdings | Shares | Market value |
|---|---|---|---|
| SW | Smurfit WestRock plc | 13,280,357 | $691,508,189 |
| WSM | Williams-Sonoma Inc. | 3,142,955 | $611,556,184 |
| ATO | Atmos Energy Corp. | 3,967,544 | $603,582,469 |
| EXE | Expand Energy Corp. | 5,603,626 | $554,086,539 |
| NRG | NRG Energy Inc. | 5,171,877 | $546,719,118 |
| FCNCA | First Citizens BancShares Inc./NC Class A | 265,187 | $543,118,887 |
| DECK | Deckers Outdoor Corp. | 3,878,766 | $540,544,830 |
| FWONK | Liberty Media Corp-Liberty Formula One | 5,386,338 | $519,404,573 |
| DKNG | DraftKings Inc. | 11,827,255 | $518,743,404 |
| TPR | Tapestry Inc. | 5,949,625 | $508,216,968 |
| Ticker | Holdings | Shares | Market value |
|---|---|---|---|
| SW | Smurfit WestRock plc | 13,280,357 | $691,508,189 |
| WSM | Williams-Sonoma Inc. | 3,142,955 | $611,556,184 |
| ATO | Atmos Energy Corp. | 3,967,544 | $603,582,469 |
| EXE | Expand Energy Corp. | 5,603,626 | $554,086,539 |
| NRG | NRG Energy Inc. | 5,171,877 | $546,719,118 |
| FCNCA | First Citizens BancShares Inc./NC Class A | 265,187 | $543,118,887 |
| DECK | Deckers Outdoor Corp. | 3,878,766 | $540,544,830 |
| FWONK | Liberty Media Corp-Liberty Formula One | 5,386,338 | $519,404,573 |
| DKNG | DraftKings Inc. | 11,827,255 | $518,743,404 |
| TPR | Tapestry Inc. | 5,949,625 | $508,216,968 |
as of 02/28/2025
Realized gain
% of NAV
Unrealized gains of NAV
% of NAV
Fiscal year end
Distribution schedule
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.
Learn about realized and unrealized gains and lossesA 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.
Learn about realized and unrealized gains and lossesPerformance & fees
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.
R-squared and beta are calculated from trailing 36-month fund returns relative to the associated benchmark.
Portfolio composition
Sector categories are based on the Industry Classification Benchmark system (“ICB”), except for the “Other” category (if applicable), which includes securities that have not been provided an ICB 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 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. The fund’s performance could be hurt by: