Vanguard Market Neutral Fund Investor Shares (VMNFX)

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Market Neutral Fund Investor Shares (VMNFX) is up 13.0% since the beginning of the year. VMNFX is currently trading at $16 per share. Investors who bought $1,000 worth of VMNFX shares 5 years ago would now be looking at an investment worth $1,911.

Vanguard Market Neutral Fund Investor Shares (VMNFX) has returned 13.03% so far this year and 20.64% over the past 12 months. Over the last ten years, VMNFX has returned 5.10% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Nov 16, 1998, VMNFX's average daily return is +0.01%, while the average monthly return is +0.25%. At this rate, an investment would double in approximately 23.1 years.

Historically, 56% of months were positive and 44% were negative. The best month was Feb 2001 with a return of +9.0%, while the worst month was Jan 2001 at -7.7%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 6 months.

On a daily basis, VMNFX closed higher 47% of trading days. The best single day was Apr 23, 2001 with a return of +3.4%, while the worst single day was Dec 11, 2000 at -6.9%.

Vanguard Market Neutral Fund Investor Shares has an annualized alpha of 3.13%, beta of -0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since November 16, 1998.

• This fund captured 0.04% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -19.88%) - a profile typical of hedging or uncorrelated assets.
• Beta of -0.01 may look defensive, but with R2 of 0.00 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 0.00 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.

VMNFX has a high expense ratio of 1.31%, indicating above-average management fees.

VMNFX ranks 85 for risk / return — in the top 85% 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.

Vanguard Market Neutral Fund Investor Shares provided a 3.11% dividend yield over the last twelve months, with an annual payout of $0.49 per share.

The table displays the monthly dividend distributions for Vanguard Market Neutral Fund Investor Shares. 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 Market Neutral Fund Investor 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 Market Neutral Fund Investor Shares was 26.42%, occurring on Jan 29, 2001. Recovery took 316 trading sessions.

The current Vanguard Market Neutral Fund Investor Shares drawdown is 0.25%.

The chart below shows the rolling one-month volatility.