Vanguard Mid-Cap Growth Index Admiral VMGMX

Release Date: 12-31-2022

Vanguard Mid-Cap Growth Index Admiral VMGMX

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Benchmark

Overall Morningstar RatingTM

Morningstar Return

Morningstar Risk

Russell Mid Cap Growth TR USD

QQQ

Average

Average

Out of 534 Mid-Cap Growth funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure page for details.

Investment Objective & Strategy

From investment's prospectus

The investment seeks to track the performance of the CRSP US Mid Cap Growth Index that measures the investment return of mid-capitalization growth stocks.

The fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Growth Index, a broadly diversified index of growth stocks of mid-size U.S. companies. The advisor attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Fees and Expenses as of 04-29-22

Prospectus Net Expense Ratio Total Annual Operating Expense Maximum Sales Charge 12b-1 Fee Redemption Fee/Term

0.07% 0.07%

. . .

Performance

40

Total Return%

30

as of 12-31-22

20

Investment

10

Benchmark

0

-10

-20

-30

Average annual, if greater than 1 year.

YTD

1 Year

3 Year

5 Year

10 Year

Since Inception

-28.84

-28.84

4.86

7.81

10.90

11.37

Fund Return %

-28.84

-28.84

4.86

7.81

10.90

11.37

Load-Adj. Return %

-26.72

-26.72

3.85

7.64

11.41

11.95

Benchmark Return %

.............-.2..7....7..9.................-.2..7....7..9....................4....1..4....................7....0..9..................1..0....6..7..................1..0....3..9....................C..a..t.e..g..o..r.y...A..v..e..r.a..g..e...%.......

.

.

QQQ

QQQ

QQQ

.

Morningstar RatingTM

.

.

534

499

389

.

# of Funds in Category

Quarter End Returns as of 12-31-22

Fund ReturnYT%D

YTD

Standardized Return %

YTD

-28Y.T8D4 -28.84

1 Year

-2Y8T.D84 -28.84

3 Year

Y4T.D86 4.86

5 Year

YT7D.81 7.81

10 Year

10.90 10.90

Since Inception

11.37 11.37

Waiver Data

Type

.

.

Exp. Date

%

.

.

Operations and Management

Initial Class Inception Date 08-17-06

Fund Inception Date

09-27-11

Portfolio Manager(s)

Donald M. Butler, CFA

Awais Khan, CFA

Name of Issuer

Vanguard

Telephone

800-662-7447

Web Site



Benchmark Description: Russell Mid Cap Growth TR USD

The index measures the performance of the mid-cap growth segment of the US equity universe. It includes Russell midcap index companies with higher price-to-book ratios and higher forecasted growth values. It is market-capitalization weighted. Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell? is a trademark of Russell Investment Group.

Category Description: Mid-Cap Growth

Some mid-cap growth portfolios invest in stocks of all sizes, thus leading to a mid-cap profile, but others focus on midsize companies. Mid-cap growth portfolios target U.S. firms that are projected to grow faster than other mid-cap stocks, therefore commanding relatively higher prices. Stocks in the middle 20% of the capitalization of the U.S. equity market are defined as mid-cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).

Performance Disclosure: The performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate; thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than return data quoted herein. For performance data current to the most recent month-end please visit the website listed under Operations and Management on this page.

Portfolio Analysis as of 11-30-22

Composition as of 11-30-22

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

% Assets

98.3 1.3 0.0 0.5 0.0

Morningstar Equity Style BoxTM as of 11-30-22

% Mkt Cap

Large Mid Small

.G..i.a..n..t.........................................0.....0..0.

Large

25.92

Medium

73.82

.S..m...a..l.l........................................0.....2..6.

Micro

0.00

Value Blend Growth

Top 10 Holdings as of 11-30-22

% Assets

Amphenol Corp Class A

1.64

Cadence Design Systems Inc

1.62

DexCom Inc

1.57

Motorola Solutions Inc

1.56

.D..e..v..o..n...E..n..e..r.g...y..C...o..r.p...................................................................1....5..4.

Cheniere Energy Inc

1.50

Microchip Technology Inc

1.50

Enphase Energy Inc

1.49

IQVIA Holdings Inc

1.40

Hess Corp

1.38

.......................................................................................................

Total Number of Stock Holdings

172

Total Number of Bond Holdings

0

Annual Turnover Ratio %

25.00

Total Fund Assets ($mil)

9,812.12

Morningstar Sectors as of 11-30-22

% Fund S&P 500 %

.h.......C..y..c..l.i.c.a..l..........................................................2..8....1..0............2..8....7..2.

r Basic Materials

4.07 2.46

t Consumer Cyclical

10.86 9.56

y Financial Services

6.10 13.89

u Real Estate

7.07 2.81

.j.......S..e..n..s..i.t.i.v..e........................................................5..4....4..3............4..4....5..9.

i Communication Services

4.91 7.28

o Energy

7.21 5.23

p Industrials

13.29 9.06

a Technology

29.02 23.02

.k.......D..e..f.e..n...s.i.v..e.......................................................1..7....4..6............2..6....6..9.

s Consumer Defensive

1.27 7.61

d Healthcare

16.19 15.90

f Utilities

0.00 3.18

Principal Risks as of 11-30-22 Loss of Money, Not FDIC Insured, Market/Market Volatility, Equity Securities, ETF, Early Close/Late Close/Trading Halt, Management, Market Trading

?2023 Morningstar, Inc., Morningstar Investment ProfilesTM 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (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 information. Past performance is no guarantee of future performance. Visit our investment website at

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