Investment objective & strategy
As of March 27, 2026 · prospectusObjective. Vanguard U.S. Momentum Factor ETF (the Fund) seeks to provide long-term capital appreciation by investing in stocks with strong recent performance as determined by the advisor.
Strategy. The Fund employs an active management approach, investing primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by selecting stocks with strong recent performance as determined by the advisor. The Funds portfolio includes a diverse mix of companies representing many different market sectors and industry groups. The advisor uses a quantitative model to evaluate all of the securities in an investment universe comprised of U.S. large-, mid-, and small-capitalization stocks and to construct a U.S. equity portfolio that seeks to achieve exposure to securities with relatively strong recent performance subject to a rules-based screen designed to promote diversification and to mitigate exposure to certain less liquid stocks. Securities with relatively … The Fund employs an active management approach, investing primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by selecting stocks with strong recent performance as determined by the advisor. The Funds portfolio includes a diverse mix of companies representing many different market sectors and industry groups. The advisor uses a quantitative model to evaluate all of the securities in an investment universe comprised of U.S. large-, mid-, and small-capitalization stocks and to construct a U.S. equity portfolio that seeks to achieve exposure to securities with relatively strong recent performance subject to a rules-based screen designed to promote diversification and to mitigate exposure to certain less liquid stocks. Securities with relatively strong recent past performance may be identified by measures such as performance over different time periods. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities issued by U.S. companies.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Vanguard Market Liquidity Fund | — | $20.42M | 1.46% |
| NEWMONT CORP | — | $16.94M | 1.21% |
| LAM RESEARCH CORP | — | $15.95M | 1.14% |
| GE VERNOVA LLC | — | $15.35M | 1.10% |
| KLA CORP | — | $14.36M | 1.03% |
| JOHNSON&JOHNSON | — | $13.96M | 1.00% |
| MICRON TECHNOLOGY INC | — | $13.95M | 1.00% |
| AMPHENOL CORPORATION CL A | — | $13.64M | 0.98% |
| GENERAL MOTORS CO | — | $13.51M | 0.97% |
| HOWMET AEROSPACE INC | — | $13.29M | 0.95% |
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. |
|---|---|---|
| First Trust Multi Cap Growth AlphaDEX Fund · FAD | 40% | 0.63% |
| AQR Large Cap Momentum Style Fund · AMOMX, AMONX, QMORX | 31% | 0.31% |
| VANGUARD U.S. MULTIFACTOR FUND · VFMFX | 30% | 0.18% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of March 27, 2026, 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. As reported in the fund's prospectus performance bar chart.
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