- ISIN
- US9219468777
- CUSIP
- 921946877
- Issuer
- Vanguard
- Inception Date
- Dec 12, 2013
- Category
- Global Equities
- Min. Investment
- $3,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $2B
Share Price Chart
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Performance
VMVFX Performance Chart
Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) is up 7.9% since the beginning of the year. VMVFX is currently trading at $17 per share. Investors who bought $1,000 worth of VMVFX shares 5 years ago would now be looking at an investment worth $1,668.
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Returns By Period
Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) has returned 7.86% so far this year and 13.22% over the past 12 months. Over the last ten years, VMVFX has returned 9.49% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Vanguard Global Minimum Volatility Fund Investor Shares
- 1D
- 0.24%
- 1M
- -0.12%
- YTD
- 7.86%
- 6M
- 7.73%
- 1Y
- 13.22%
- 3Y*
- 12.78%
- 5Y*
- 10.77%
- 10Y*
- 9.49%
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%
VMVFX Monthly Returns History
Based on dividend-adjusted daily data since Dec 13, 2013, VMVFX's average daily return is +0.04%, while the average monthly return is +0.82%. At this rate, an investment would double in approximately 7.1 years.
Historically, 68% of months were positive and 32% were negative. The best month was Dec 2021 with a return of +16.7%, while the worst month was Mar 2020 at -15.4%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 3 months.
On a daily basis, VMVFX closed higher 53% of trading days. The best single day was Dec 15, 2021 with a return of +11.9%, while the worst single day was Mar 16, 2020 at -10.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.55% | 4.29% | -4.76% | 3.27% | 1.73% | -0.18% | 7.86% | ||||||
| 2025 | 2.66% | 2.53% | 0.80% | -0.24% | 1.90% | 0.60% | -0.54% | 1.81% | 1.42% | 0.00% | 1.69% | -0.51% | 12.74% |
| 2024 | 2.84% | 3.04% | 2.61% | -2.74% | 1.61% | 1.39% | 3.19% | 3.22% | -0.37% | -1.60% | 3.56% | -3.78% | 13.38% |
| 2023 | 1.78% | -1.46% | 1.11% | 1.90% | -2.95% | 3.33% | 0.43% | -0.93% | -1.95% | 0.00% | 4.11% | 2.42% | 7.82% |
| 2022 | -3.38% | -2.17% | 2.79% | -1.88% | -0.00% | -3.19% | 2.86% | -2.00% | -6.25% | 6.44% | 5.76% | -2.70% | -4.48% |
| 2021 | -0.37% | -0.73% | 4.29% | 1.49% | 1.05% | 1.45% | 1.02% | 1.21% | -3.80% | 2.77% | -2.29% | 16.74% | 23.74% |
Benchmark Metrics
Vanguard Global Minimum Volatility Fund Investor Shares has an annualized alpha of 2.26%, beta of 0.60, and R2 of 0.74 versus S&P 500 Index. Calculated based on daily prices since December 13, 2013.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (60.35%) than losses (57.90%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.26% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.60 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.26%
- Beta
- 0.60
- R²
- 0.74
- Upside Capture
- 60.35%
- Downside Capture
- 57.90%
Expense Ratio
VMVFX has an expense ratio of 0.21%, which is considered low.
Return for Risk
Risk / Return Rank
VMVFX ranks 43 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) 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.
| VMVFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.78 | -0.68 |
| Martin ratioReturn relative to average drawdown | 8.18 | 12.44 | -4.26 |
Dividends
Dividend History
Vanguard Global Minimum Volatility Fund Investor Shares provided a 9.25% dividend yield over the last twelve months, with an annual payout of $1.57 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 | $1.57 | $1.57 | $0.58 | $0.43 | $0.67 | $1.88 | $0.28 | $0.74 | $0.90 | $0.31 | $0.32 | $0.36 |
Dividend yield | 9.25% | 9.98% | 3.77% | 3.05% | 4.96% | 12.73% | 2.02% | 5.12% | 7.27% | 2.30% | 2.71% | 3.22% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Global Minimum Volatility Fund Investor 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 | $1.57 | $1.57 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.58 | $0.58 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.43 | $0.43 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.67 | $0.67 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.88 | $1.88 |
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 Global Minimum Volatility 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 Global Minimum Volatility Fund Investor Shares was 33.09%, occurring on Mar 23, 2020. Recovery took 337 trading sessions.
The current Vanguard Global Minimum Volatility Fund Investor Shares drawdown is 1.39%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -33.09%Mar 2020 | 1mo 2d | 1y 4mo | 1y 5moFeb 2020 - Jul 2021 |
Bear market2022 | -13.02%Sep 2022 | 9mo 4d | 1y 1mo | 1y 10moDec 2021 - Nov 2023 |
Rate-hike selloffLate 2018 | -11.51%Dec 2018 | 3mo 26d | 2mo 21d | 6mo 17dAug 2018 - Mar 2019 |
2016 pullback2016 | -9.49%Jan 2016 | 5mo 17d | 2mo 29d | 8mo 16dAug 2015 - Apr 2016 |
2025 selloff2025 | -7.96%Apr 2025 | 5d | 1mo 7d | 1mo 12dApr 2025 - May 2025 |
Drawdown Indicators
| VMVFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.09% | -56.78% | +23.69% |
Max Drawdown (1Y)Largest decline over 1 year | -6.27% | -9.10% | +2.83% |
Max Drawdown (3Y)Largest decline over 3 years | -7.96% | -18.90% | +10.94% |
Max Drawdown (5Y)Largest decline over 5 years | -13.02% | -25.43% | +12.41% |
Max Drawdown (10Y)Largest decline over 10 years | -33.09% | -33.92% | +0.83% |
Current DrawdownCurrent decline from peak | -1.39% | -1.80% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -2.82% | -10.71% | +7.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 2.03% | -0.42% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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