- ISIN
- US9219108571
- CUSIP
- 921910857
- Issuer
- Vanguard
- Inception Date
- Feb 22, 2008
- Region
- North America (U.S.)
- Category
- Large Cap Blend Equities
- Min. Investment
- $5,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
VMCTX Performance Chart
Vanguard Mega Cap Index Fund Institutional Shares (VMCTX) is up 11.6% since the beginning of the year. VMCTX is currently trading at $551 per share. Investors who bought $1,000 worth of VMCTX shares 5 years ago would now be looking at an investment worth $2,011.
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Returns By Period
Vanguard Mega Cap Index Fund Institutional Shares (VMCTX) has returned 11.64% so far this year and 30.64% over the past 12 months. Looking at the last ten years, VMCTX has achieved an annualized return of 16.45%, outperforming the S&P 500 Index benchmark, which averaged 13.75% per year.
Vanguard Mega Cap Index Fund Institutional Shares
- 1D
- 0.31%
- 1M
- 6.39%
- YTD
- 11.64%
- 6M
- 11.59%
- 1Y
- 30.64%
- 3Y*
- 24.18%
- 5Y*
- 15.00%
- 10Y*
- 16.45%
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.68%
- YTD
- 11.16%
- 6M
- 11.10%
- 1Y
- 27.46%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
VMCTX Monthly Returns History
Based on dividend-adjusted daily data since Dec 27, 2007, VMCTX's average daily return is +0.05%, while the average monthly return is +1.02%. At this rate, an investment would double in approximately 5.7 years.
Historically, 66% of months were positive and 34% were negative. The best month was Apr 2020 with a return of +12.8%, while the worst month was Oct 2008 at -16.2%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VMCTX closed higher 55% of trading days. The best single day was Oct 13, 2008 with a return of +11.6%, while the worst single day was Mar 16, 2020 at -11.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.98% | -1.79% | -4.78% | 11.12% | 6.07% | 0.31% | 11.64% | ||||||
| 2025 | 2.75% | -1.42% | -6.18% | -0.36% | 6.62% | 5.39% | 2.39% | 2.00% | 4.16% | 3.02% | 0.07% | 0.02% | 19.35% |
| 2024 | 2.31% | 5.40% | 2.83% | -3.96% | 5.26% | 4.63% | 0.54% | 2.46% | 1.99% | -0.83% | 5.65% | -1.48% | 27.18% |
| 2023 | 6.08% | -2.26% | 4.70% | 1.82% | 1.38% | 6.26% | 3.34% | -1.27% | -4.62% | -1.65% | 9.28% | 4.10% | 29.67% |
| 2022 | -5.25% | -3.46% | 3.70% | -9.31% | -0.28% | -7.98% | 9.14% | -4.13% | -9.10% | 7.79% | 5.26% | -5.98% | -19.91% |
| 2021 | -0.95% | 2.10% | 4.16% | 5.52% | 0.40% | 2.91% | 2.51% | 2.97% | -4.83% | 7.15% | -0.71% | 3.93% | 27.57% |
Benchmark Metrics
Vanguard Mega Cap Index Fund Institutional Shares has an annualized alpha of 2.29%, beta of 0.99, and R2 of 1.00 versus S&P 500 Index. Calculated based on daily prices since December 28, 2007.
- This fund captured 106.30% of S&P 500 Index gains but only 95.98% of its losses - a favorable profile for investors.
- This fund generated an annualized alpha of 2.29% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 0.99 and R2 of 1.00, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 2.29%
- Beta
- 0.99
- R²
- 1.00
- Upside Capture
- 106.30%
- Downside Capture
- 95.98%
Expense Ratio
VMCTX has an expense ratio of 0.06%, which is considered low.
Return for Risk
Risk / Return Rank
VMCTX ranks 74 for risk / return — better than 74% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Mega Cap Index Fund Institutional Shares (VMCTX) and compare them to S&P 500 Index.
| VMCTX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.61 | 2.39 | +0.22 |
Sortino ratioReturn per unit of downside risk | 3.52 | 3.25 | +0.27 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.43 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 3.26 | 3.11 | +0.14 |
Martin ratioReturn relative to average drawdown | 14.66 | 14.38 | +0.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Vanguard Mega Cap Index Fund Institutional Shares provided a 0.87% dividend yield over the last twelve months, with an annual payout of $4.81 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.81 | $4.64 | $4.85 | $4.54 | $4.33 | $3.90 | $3.83 | $4.01 | $3.61 | $3.32 | $3.21 | $2.94 |
Dividend yield | 0.87% | 0.94% | 1.16% | 1.36% | 1.66% | 1.18% | 1.46% | 1.82% | 2.11% | 1.84% | 2.13% | 2.13% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Mega Cap Index Fund Institutional Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $1.36 | $0.00 | $0.00 | $0.00 | $1.36 | ||||||
| 2025 | $0.00 | $0.00 | $1.19 | $0.00 | $0.00 | $1.11 | $0.00 | $0.00 | $1.16 | $0.00 | $0.00 | $1.19 | $4.64 |
| 2024 | $0.00 | $0.00 | $1.15 | $0.00 | $0.00 | $1.23 | $0.00 | $0.00 | $1.23 | $0.00 | $0.00 | $1.25 | $4.85 |
| 2023 | $0.00 | $0.00 | $0.99 | $0.00 | $0.00 | $1.08 | $0.00 | $0.00 | $1.14 | $0.00 | $0.00 | $1.33 | $4.54 |
| 2022 | $0.00 | $0.00 | $0.94 | $0.00 | $0.00 | $1.02 | $0.00 | $0.00 | $1.17 | $0.00 | $0.00 | $1.20 | $4.33 |
| 2021 | $0.00 | $0.00 | $0.86 | $0.00 | $0.00 | $0.92 | $0.00 | $0.00 | $1.02 | $0.00 | $0.00 | $1.10 | $3.90 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Mega Cap Index Fund Institutional Shares. 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 Mega Cap Index Fund Institutional Shares was 52.00%, occurring on Mar 9, 2009. Recovery took 744 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -52.00%Mar 2009 | 1y 2mo | 2y 11mo | 4y 1moDec 2007 - Feb 2012 |
COVID crash2020 | -32.96%Mar 2020 | 1mo 2d | 4mo 15d | 5mo 17dFeb 2020 - Aug 2020 |
Bear market2022 | -25.77%Oct 2022 | 9mo 11d | 1y 2mo | 1y 11moJan 2022 - Dec 2023 |
2025 selloff2025 | -19.36%Apr 2025 | 1mo 17d | 2mo 19d | 4mo 6dFeb 2025 - Jun 2025 |
Rate-hike selloffLate 2018 | -19.12%Dec 2018 | 2mo 21d | 3mo 19d | 6mo 10dOct 2018 - Apr 2019 |
Drawdown Indicators
| VMCTX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.00% | -56.78% | +4.78% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -9.10% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -19.36% | -18.90% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -25.77% | -25.43% | -0.34% |
Max Drawdown (10Y)Largest decline over 10 years | -32.96% | -33.92% | +0.96% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -10.72% | +3.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 1.97% | +0.22% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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