Investment objective & strategy
As of April 29, 2025 · prospectusObjective. The Fund seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization stocks.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the S&P Completion Index (the Index), a broadly diversified index of stocks of small and mid-size U.S. companies. The Index contains all of the U.S. common stocks regularly traded on the New York Stock Exchange, Cboe, and the Nasdaq over-the-counter market, except those stocks included in the S&P 500 Index. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key characteristics. These characteristics include industry weightings and market capitalization, as well as certain financial measures, such as price/earnings ratio and dividend yield. The Fund employs an indexing investment approach designed to track the performance of the S&P Completion Index (the Index), a broadly diversified index of stocks of small and mid-size U.S. companies. The Index contains all of the U.S. common stocks regularly traded on the New York Stock Exchange, Cboe, and the Nasdaq over-the-counter market, except those stocks included in the S&P 500 Index. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key characteristics. These characteristics include industry weightings and market capitalization, as well as certain financial measures, such as price/earnings ratio and dividend yield.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Vanguard Market Liquidity Fund | — | $1.62B | 1.99% |
| MARVELL TECHNOLOGY INC | — | $963.91M | 1.18% |
| CLOUDFLARE INC-A | — | $730.83M | 0.90% |
| CHENIERE ENERGY INC | — | $681.63M | 0.84% |
| SNOWFLAKE INC CL A | — | $576.08M | 0.71% |
| FERGUSON ENTERPRISES INC | — | $509.05M | 0.62% |
| ALNYLAM PHARMACEUTICALS INC | — | $489.77M | 0.60% |
| STRATEGY INC CL A | — | $436.65M | 0.54% |
| ROBLOX CORP - A | — | $417.72M | 0.51% |
| BLOOM ENERGY CORP CL A | — | $390.34M | 0.48% |
Portfolio moves
Dec 31, 2025 → Mar 31, 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 Extended Market Index Fund · FSMAX | 85% | 0.03% |
| STATE STREET SMALL/MID CAP EQUITY INDEX PORTFOLIO · SSMHX | 83% | 0.02% |
| T. Rowe Price Extended Equity Market Index Fund · PEXMX | 83% | 0.24% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of April 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 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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