Investment objective & strategy
As of Dec. 19, 2025 · prospectusObjective. Vanguard Consumer Discretionary Index Fund (the Fund) seeks to track the performance of a benchmark index that measures the investment return of consumer discretionary stocks.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Consumer Discretionary 25/50 (the Target Index), an index made up of stocks of large, mid-size, and small U.S. companies within the consumer discretionary sector, as classified under the Global Industry Classification Standard (GICS). The GICS consumer discretionary sector is made up of those companies that tend to be the most sensitive to economic cycles. Its manufacturing segment includes automotive, household durable goods, textiles and apparel, and leisure equipment. Its services segment includes hotels, restaurants and other leisure facilities, media production and services, and consumer retailing and services. Under normal circumstances, the Fund invests at least 80% of its net assets, plus … The Fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Consumer Discretionary 25/50 (the Target Index), an index made up of stocks of large, mid-size, and small U.S. companies within the consumer discretionary sector, as classified under the Global Industry Classification Standard (GICS). The GICS consumer discretionary sector is made up of those companies that tend to be the most sensitive to economic cycles. Its manufacturing segment includes automotive, household durable goods, textiles and apparel, and leisure equipment. Its services segment includes hotels, restaurants and other leisure facilities, media production and services, and consumer retailing and services. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index. The Fund is considered nondiversified, as defined under the Investment Company Act of 1940, which means that it may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| AMAZON.COM INC | — | $1.41B | 21.05% |
| TESLA INC | — | $1.12B | 16.62% |
| HOME DEPOT INC | — | $357.16M | 5.31% |
| MCDONALDS CORP | — | $247.84M | 3.69% |
| TJX COS INC | — | $183.91M | 2.74% |
| LOWES COS INC | — | $152.09M | 2.26% |
| THE BOOKING HOLDINGS INC | — | $140.62M | 2.09% |
| STARBUCKS CORP | — | $114.52M | 1.70% |
| ROYAL CARIBBEAN | — | $83.42M | 1.24% |
| O'REILLY AUTOMOTIVE INC | — | $83.12M | 1.24% |
Portfolio moves
Nov 30, 2025 → Feb 28, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity MSCI Consumer Discretionary Index ETF · FDIS | 88% | 0.08% |
| JNL/Mellon Consumer Discretionary Sector Fund | 82% | 0.29% |
| PROFUND VP CONSUMER DISCRETIONARY | 79% | 1.68% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of December 19, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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