Investment objective & strategy
As of Dec. 19, 2025 · prospectusObjective. Vanguard Communication Services ETF, an exchange-traded share class of Vanguard Communication Services Index Fund (the Fund), seeks to track the performance of a benchmark index that measures the investment return of communication services stocks.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Communication Services 25/50 (the Target Index), an index made up of stocks of large, mid-size, and small U.S. companies within the communication services sector, as classified under the Global Industry Classification Standard (GICS). The GICS communication services sector is made up of companies that facilitate communication and offer related content and information through various mediums. It includes telecommunication companies and media and entertainment companies, including producers of interactive gaming products and companies engaged in content and information creation or distribution through proprietary platforms. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any … The Fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Communication Services 25/50 (the Target Index), an index made up of stocks of large, mid-size, and small U.S. companies within the communication services sector, as classified under the Global Industry Classification Standard (GICS). The GICS communication services sector is made up of companies that facilitate communication and offer related content and information through various mediums. It includes telecommunication companies and media and entertainment companies, including producers of interactive gaming products and companies engaged in content and information creation or distribution through proprietary platforms. 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 |
|---|---|---|---|
| META PLATFORMS INC CL A | — | $1.47B | 23.21% |
| ALPHABET INC CL A | — | $902.34M | 14.25% |
| ALPHABET INC CL C | — | $614.87M | 9.71% |
| VERIZON COMMUNICATIONS INC | — | $294.15M | 4.64% |
| AT&T INC | — | $273.72M | 4.32% |
| WALT DISNEY CO/T | — | $251.62M | 3.97% |
| NETFLIX INC | — | $232.36M | 3.67% |
| WARNER BROS DISCOVERY INC | — | $193.70M | 3.06% |
| COMCAST CORP CL A | — | $189.26M | 2.99% |
| T-MOBILE US INC | — | $179.10M | 2.83% |
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 Communication Services Index ETF · FCOM | 92% | 0.08% |
| State Street(R) Communication Services Select Sector SPDR(R) ETF · XLC | 75% | 0.08% |
| JNL/Mellon Communication Services Sector Fund | 68% | 0.30% |
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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