- ISIN
- US9219328369
- CUSIP
- 921932836
- Issuer
- Vanguard
- Inception Date
- Nov 2, 2010
- Region
- North America (U.S.)
- Category
- Mid Cap Value Equities
- Min. Investment
- $5,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
VMFVX Performance Chart
Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX) is up 11.0% since the beginning of the year. VMFVX is currently trading at $449 per share. Investors who bought $1,000 worth of VMFVX shares 5 years ago would now be looking at an investment worth $1,561.
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Returns By Period
Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX) has returned 10.96% so far this year and 22.11% over the past 12 months. Over the last ten years, VMFVX has returned 10.69% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares
- 1D
- 0.89%
- 1M
- 3.13%
- YTD
- 10.96%
- 6M
- 8.89%
- 1Y
- 22.11%
- 3Y*
- 13.31%
- 5Y*
- 9.31%
- 10Y*
- 10.69%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VMFVX Monthly Returns History
Based on dividend-adjusted daily data since Jan 3, 2011, VMFVX's average daily return is +0.05%, while the average monthly return is +1.00%. At this rate, an investment would double in approximately 5.8 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2020 with a return of +16.6%, while the worst month was Mar 2020 at -24.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VMFVX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +10.6%, while the worst single day was Mar 16, 2020 at -13.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.12% | 2.38% | -5.25% | 7.60% | -0.12% | 2.23% | 10.96% | ||||||
| 2025 | 3.95% | -3.05% | -4.46% | -4.36% | 4.53% | 3.75% | 1.01% | 4.60% | -0.13% | -1.31% | 3.06% | 0.35% | 7.57% |
| 2024 | -4.03% | 1.94% | 5.40% | -6.04% | 4.67% | -1.91% | 7.56% | 0.63% | 1.16% | -0.05% | 8.84% | -6.66% | 10.59% |
| 2023 | 11.38% | -2.79% | -5.32% | -1.07% | -3.62% | 9.62% | 4.47% | -3.75% | -5.76% | -5.88% | 9.55% | 11.27% | 16.49% |
| 2022 | -3.97% | 1.25% | 2.21% | -6.63% | 2.13% | -9.30% | 9.20% | -2.86% | -9.52% | 11.52% | 6.46% | -5.08% | -7.03% |
| 2021 | 1.15% | 9.54% | 6.87% | 4.80% | 1.93% | -2.82% | -0.19% | 2.39% | -3.73% | 4.44% | -2.39% | 5.87% | 30.54% |
Benchmark Metrics
Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares has an annualized alpha of -1.32%, beta of 1.05, and R2 of 0.77 versus S&P 500 Index. Calculated based on daily prices since January 03, 2011.
- This fund participated in 110.83% of S&P 500 Index downside but only 102.95% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.05 and R2 of 0.77, 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
- -1.32%
- Beta
- 1.05
- R²
- 0.77
- Upside Capture
- 102.95%
- Downside Capture
- 110.83%
Expense Ratio
VMFVX has an expense ratio of 0.08%, which is considered low.
Return for Risk
Risk / Return Rank
VMFVX ranks 32 for risk / return — below 32% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VMFVX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 2.78 | -0.65 |
| Martin ratioReturn relative to average drawdown | 7.36 | 12.44 | -5.07 |
Dividends
Dividend History
Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares provided a 1.70% dividend yield over the last twelve months, with an annual payout of $7.62 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $7.62 | $7.62 | $6.93 | $5.58 | $6.27 | $6.11 | $6.53 | $5.06 | $4.23 | $3.80 | $3.12 | $3.06 |
Dividend yield | 1.70% | 1.88% | 1.81% | 1.58% | 2.04% | 1.81% | 2.48% | 1.94% | 2.01% | 1.56% | 1.42% | 1.73% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard S&P Mid-Cap 400 Value 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $7.62 | $7.62 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.93 | $6.93 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.58 | $5.58 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.27 | $6.27 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.11 | $6.11 |
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 S&P Mid-Cap 400 Value 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 S&P Mid-Cap 400 Value Index Fund Institutional Shares was 45.79%, occurring on Mar 23, 2020. Recovery took 179 trading sessions.
The current Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares drawdown is 0.97%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -45.79%Mar 2020 | 2mo 6d | 8mo 16d | 10mo 22dJan 2020 - Dec 2020 |
2011 bear market2011 | -27.50%Oct 2011 | 5mo 4d | 5mo 14d | 10mo 18dMay 2011 - Mar 2012 |
Rate-hike selloffLate 2018 | -22.69%Dec 2018 | 3mo 26d | 10mo 15d | 1y 2moAug 2018 - Nov 2019 |
2025 selloff2025 | -22.46%Apr 2025 | 4mo 13d | 8mo 6d | 1y 14dNov 2024 - Dec 2025 |
2016 bear market2016 | -21.17%Jan 2016 | 7mo | 4mo 20d | 11mo 20dJun 2015 - Jun 2016 |
Drawdown Indicators
| VMFVX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.79% | -56.78% | +10.99% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -9.10% | -1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -22.46% | -18.90% | -3.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.46% | -25.43% | +2.97% |
Max Drawdown (10Y)Largest decline over 10 years | -45.79% | -33.92% | -11.87% |
Current DrawdownCurrent decline from peak | -0.97% | -1.80% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -5.47% | -10.71% | +5.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 2.03% | +1.01% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Build a portfolio with VMFVX
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