Investment objective & strategy
As of April 29, 2025 · prospectusObjective. The Fund seeks to provide a tax-efficient return consisting of long-term capital appreciation while tracking the performance of a benchmark index that measures the investment return of small-capitalization stocks.
Strategy. The Fund purchases stocks included in the S&P SmallCap 600 Index (the Index)an index that is made up of the stocks of small-capitalization U.S. companies. The Fund uses statistical methods to sample the Index, aiming to ensure capital gains and income tax efficiency while approximating other characteristics and the performance of the Index. The Fund purchases stocks included in the S&P SmallCap 600 Index (the Index)an index that is made up of the stocks of small-capitalization U.S. companies. The Fund uses statistical methods to sample the Index, aiming to ensure capital gains and income tax efficiency while approximating other characteristics and the performance of the Index.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| EASTMAN CHEMICAL CO | — | $59.80M | 0.62% |
| FORMFACTOR INC | — | $51.04M | 0.53% |
| CELANESE CORP | — | $49.43M | 0.51% |
| ELEMENT SOLUTIONS INC | — | $48.67M | 0.50% |
| VIAVI SOLUTIONS INC | — | $47.50M | 0.49% |
| LKQ CORP | — | $47.19M | 0.49% |
| ESCO TECHNOLOGIES INC | — | $46.08M | 0.48% |
| ARMSTRONG WORLD INDUSTRIES INC | — | $45.81M | 0.47% |
| SANMINA CORP | — | $44.77M | 0.46% |
| AIR LEASE CORP CL A | — | $44.27M | 0.46% |
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. |
|---|---|---|
| AZL Small Cap Stock Index Fund | 95% | 0.34% |
| Empower S&P Small Cap 600 Index Fund · MXISX, MXNSX, MXERX | 94% | 0.20% |
| THRIVENT SMALL CAP INDEX PORTFOLIO | 94% | 0.24% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of February 2, 2026, 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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