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Performance
VMIAX Performance Chart
Vanguard Materials Index Fund Admiral Shares (VMIAX) is up 13.2% since the beginning of the year. VMIAX is currently trading at $119 per share. Investors who bought $1,000 worth of VMIAX shares 5 years ago would now be looking at an investment worth $1,414.
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Returns By Period
Vanguard Materials Index Fund Admiral Shares (VMIAX) has returned 13.21% so far this year and 22.94% over the past 12 months. Over the last ten years, VMIAX has returned 10.65% per year, falling short of the S&P 500 Index benchmark, which averaged 13.71% annually.
Vanguard Materials Index Fund Admiral Shares
- 1D
- -0.08%
- 1M
- 2.70%
- YTD
- 13.21%
- 6M
- 11.71%
- 1Y
- 22.94%
- 3Y*
- 11.94%
- 5Y*
- 7.17%
- 10Y*
- 10.65%
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
VMIAX Monthly Returns History
Based on dividend-adjusted daily data since Feb 2, 2004, VMIAX's average daily return is +0.05%, while the average monthly return is +0.91%. At this rate, an investment would double in approximately 6.4 years.
Historically, 59% of months were positive and 41% were negative. The best month was Oct 2011 with a return of +18.0%, while the worst month was Oct 2008 at -23.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, VMIAX closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +13.5%, while the worst single day was Oct 15, 2008 at -12.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.53% | 8.38% | -7.28% | 3.03% | 0.14% | 0.61% | 13.21% | ||||||
| 2025 | 5.04% | -0.35% | -3.57% | -1.63% | 2.69% | 2.58% | 0.04% | 6.87% | -1.26% | -4.76% | 4.12% | 2.52% | 12.26% |
| 2024 | -4.05% | 5.91% | 6.23% | -4.91% | 3.82% | -4.11% | 5.82% | 1.28% | 2.80% | -2.65% | 3.09% | -11.11% | 0.45% |
| 2023 | 9.70% | -2.87% | -1.49% | -0.87% | -6.65% | 11.08% | 3.82% | -3.41% | -5.05% | -3.82% | 8.74% | 5.81% | 13.69% |
| 2022 | -6.97% | 0.50% | 5.77% | -4.04% | 1.09% | -14.37% | 7.04% | -3.15% | -10.25% | 9.68% | 11.24% | -5.38% | -11.77% |
| 2021 | -2.49% | 4.57% | 8.22% | 5.01% | 5.39% | -5.12% | 1.55% | 1.88% | -6.98% | 7.27% | -0.88% | 7.22% | 27.15% |
Benchmark Metrics
Vanguard Materials Index Fund Admiral Shares has an annualized alpha of 0.33%, beta of 1.11, and R2 of 0.76 versus S&P 500 Index. Calculated based on daily prices since February 02, 2004.
- This fund captured 116.81% of S&P 500 Index gains and 114.36% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 1.11 and R2 of 0.76, 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
- 0.33%
- Beta
- 1.11
- R²
- 0.76
- Upside Capture
- 116.81%
- Downside Capture
- 114.36%
Expense Ratio
VMIAX has an expense ratio of 0.10%, which is considered low.
Return for Risk
Risk / Return Rank
VMIAX ranks 26 for risk / return — below 26% 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 Materials Index Fund Admiral Shares (VMIAX) 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.
| VMIAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.32 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.46 | -0.61 |
| Martin ratioReturn relative to average drawdown | 5.85 | 10.92 | -5.07 |
Dividends
Dividend History
Vanguard Materials Index Fund Admiral Shares provided a 1.36% dividend yield over the last twelve months, with an annual payout of $1.62 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.62 | $1.64 | $1.63 | $1.66 | $1.72 | $1.34 | $1.34 | $1.32 | $1.14 | $1.14 | $0.99 | $1.11 |
Dividend yield | 1.36% | 1.55% | 1.70% | 1.72% | 1.98% | 1.33% | 1.67% | 1.94% | 2.02% | 1.63% | 1.73% | 2.31% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Materials Index Fund Admiral 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 | $0.40 | $0.00 | $0.00 | $0.00 | $0.40 | ||||||
| 2025 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.41 | $0.00 | $0.00 | $0.39 | $0.00 | $0.00 | $0.41 | $1.64 |
| 2024 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.43 | $0.00 | $0.00 | $0.44 | $1.63 |
| 2023 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.44 | $0.00 | $0.00 | $0.46 | $1.66 |
| 2022 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.40 | $0.00 | $0.00 | $0.48 | $1.72 |
| 2021 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $0.41 | $0.00 | $0.00 | $0.31 | $1.34 |
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 Materials Index Fund Admiral 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 Materials Index Fund Admiral Shares was 62.17%, occurring on Mar 9, 2009. Recovery took 967 trading sessions.
The current Vanguard Materials Index Fund Admiral Shares drawdown is 3.76%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -62.17%Mar 2009 | 9mo 24d | 3y 10mo | 4y 7moMay 2008 - Jan 2013 |
COVID crash2020 | -41.02%Mar 2020 | 2y 1mo | 5mo 12d | 2y 7moJan 2018 - Sep 2020 |
2016 bear market2016 | -27.26%Jan 2016 | 11mo 4d | 9mo 25d | 1y 8moFeb 2015 - Nov 2016 |
Bear market2022 | -25.45%Sep 2022 | 5mo 8d | 1y 5mo | 1y 10moApr 2022 - Feb 2024 |
2025 selloff2025 | -23.21%Apr 2025 | 5mo 19d | 8mo 22d | 1y 2moOct 2024 - Dec 2025 |
Drawdown Indicators
| VMIAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.17% | -56.78% | -5.39% |
Max Drawdown (1Y)Largest decline over 1 year | -13.41% | -9.10% | -4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -23.21% | -18.90% | -4.31% |
Max Drawdown (5Y)Largest decline over 5 years | -25.45% | -25.43% | -0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -41.02% | -33.92% | -7.10% |
Current DrawdownCurrent decline from peak | -3.76% | -3.21% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -10.71% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.22% | 2.04% | +2.18% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Build a portfolio with VMIAX
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