Vanguard Global Capital Cycles Fund (VGPMX)

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The chart shows the growth of an initial investment of $10,000 in Vanguard Global Capital Cycles Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Vanguard Global Capital Cycles Fund (VGPMX) has returned 4.53% so far this year and 57.21% over the past 12 months. Over the last decade, VGPMX has posted an annualized return of 12.39%, slightly higher than the S&P 500 Index benchmark’s 12.16%.

Based on dividend-adjusted daily data since May 23, 1984, VGPMX's average daily return is +0.04%, while the average monthly return is +0.86%. At this rate, your investment would double in approximately 6.7 years.

Historically, 54% of months were positive and 46% were negative. The best month was Sep 1998 with a return of +39.7%, while the worst month was Oct 2008 at -39.9%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 8 months.

On a daily basis, VGPMX closed higher 49% of trading days. The best single day was Aug 31, 1984 with a return of +13.3%, while the worst single day was Jul 31, 1984 at -20.0%.

Vanguard Global Capital Cycles Fund has an annualized alpha of 3.49%, beta of 0.56, and R² of 0.16 versus S&P 500 Index. Calculated based on daily prices since May 24, 1984.

• This fund participated in 73.63% of S&P 500 Index downside but only 64.61% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.56 may look defensive, but with R² of 0.16 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.16 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

VGPMX has an expense ratio of 0.36%, placing it in the medium range.

VGPMX ranks 97 for risk / return — in the top 97% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

The table below present risk-adjusted performance metrics for Vanguard Global Capital Cycles Fund (VGPMX) and compare them to a chosen benchmark (S&P 500 Index).

Vanguard Global Capital Cycles Fund provided a 3.73% dividend yield over the last twelve months, with an annual payout of $0.79 per share.

The table displays the monthly dividend distributions for Vanguard Global Capital Cycles Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Vanguard Global Capital Cycles Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Vanguard Global Capital Cycles Fund was 78.85%, occurring on Jan 19, 2016. Recovery took 2504 trading sessions.

The current Vanguard Global Capital Cycles Fund drawdown is 10.73%.

The chart below shows the rolling one-month volatility.