- ISIN
- US9219108241
- CUSIP
- 921910824
- Issuer
- Vanguard
- Inception Date
- Mar 5, 2008
- Region
- North America (U.S.)
- Category
- Large Cap Value Equities
- Min. Investment
- $5,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
VMVLX Performance Chart
Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) is up 17.1% since the beginning of the year. VMVLX is currently trading at $324 per share. Investors who bought $1,000 worth of VMVLX shares 5 years ago would now be looking at an investment worth $1,830.
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Returns By Period
Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) has returned 17.06% so far this year and 29.07% over the past 12 months. Over the last ten years, VMVLX has had an annualized return of 12.77%, just under the S&P 500 Index benchmark’s 13.26%.
Vanguard Mega Cap Value Index Fund Institutional Shares
- 1D
- 0.60%
- 1M
- -0.26%
- 6M
- 11.50%
- YTD
- 17.06%
- 1Y
- 29.07%
- 3Y*
- 17.72%
- 5Y*
- 12.85%
- 10Y*
- 12.77%
- ALL TIME*
- 9.34%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
VMVLX Monthly Returns History
Based on dividend-adjusted daily data since Dec 27, 2007, VMVLX's average daily return is +0.04%, while the average monthly return is +0.84%. At this rate, an investment would double in approximately 6.9 years.
Historically, 62% of months were positive and 38% were negative. The best month was Nov 2020 with a return of +12.9%, while the worst month was Oct 2008 at -15.4%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VMVLX closed higher 54% of trading days. The best single day was Oct 13, 2008 with a return of +11.5%, while the worst single day was Mar 16, 2020 at -11.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.98% | 3.33% | -4.77% | 5.32% | 3.19% | 4.19% | 0.07% | 17.06% | |||||
| 2025 | 4.80% | 1.36% | -2.31% | -3.83% | 2.59% | 3.86% | -0.51% | 3.42% | 2.48% | -0.32% | 2.53% | 0.87% | 15.60% |
| 2024 | 1.65% | 3.03% | 5.02% | -3.73% | 2.87% | 0.72% | 4.51% | 2.96% | 1.24% | -1.39% | 5.40% | -5.91% | 16.87% |
| 2023 | 1.80% | -3.12% | 0.27% | 1.87% | -3.85% | 5.55% | 3.49% | -2.11% | -2.98% | -2.30% | 6.25% | 4.62% | 9.14% |
| 2022 | -0.85% | -1.27% | 3.15% | -4.86% | 2.26% | -7.31% | 4.63% | -2.84% | -7.43% | 12.19% | 6.04% | -3.09% | -1.21% |
| 2021 | -0.90% | 4.39% | 6.47% | 3.22% | 2.91% | -0.84% | 1.11% | 1.91% | -4.10% | 5.76% | -2.91% | 6.96% | 25.92% |
Benchmark Metrics
Vanguard Mega Cap Value Index Fund Institutional Shares has an annualized alpha of 0.87%, beta of 0.94, and R2 of 0.91 versus S&P 500 Index. Calculated based on daily prices since December 27, 2007.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (92.63%) than losses (91.17%) - typical of diversified or defensive assets.
- With beta of 0.94 and R2 of 0.91, 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
- 0.87%
- Beta
- 0.94
- R²
- 0.91
- Upside Capture
- 92.63%
- Downside Capture
- 91.17%
Expense Ratio
VMVLX has an expense ratio of 0.06%, which is considered low.
Return for Risk
Risk / Return Rank
VMVLX ranks 93 for risk / return — above 93% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) 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.
| VMVLX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.25 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.15 | 2.00 | +2.14 |
| Martin ratioReturn relative to average drawdown | 16.18 | 8.49 | +7.69 |
Dividends
Dividend History
Vanguard Mega Cap Value Index Fund Institutional Shares provided a 1.87% dividend yield over the last twelve months, with an annual payout of $6.06 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $6.06 | $5.74 | $5.73 | $5.39 | $5.02 | $4.62 | $4.26 | $4.66 | $3.76 | $3.56 | $2.52 | $3.06 |
Dividend yield | 1.87% | 2.05% | 2.32% | 2.49% | 2.46% | 2.18% | 2.47% | 2.70% | 2.66% | 2.36% | 1.90% | 2.62% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Mega Cap 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 | $1.58 | $0.00 | $0.00 | $1.45 | $0.00 | $3.03 | |||||
| 2025 | $0.00 | $0.00 | $1.36 | $0.00 | $0.00 | $1.35 | $0.00 | $0.00 | $1.40 | $0.00 | $0.00 | $1.63 | $5.74 |
| 2024 | $0.00 | $0.00 | $1.39 | $0.00 | $0.00 | $1.46 | $0.00 | $0.00 | $1.44 | $0.00 | $0.00 | $1.44 | $5.73 |
| 2023 | $0.00 | $0.00 | $1.18 | $0.00 | $0.00 | $1.31 | $0.00 | $0.00 | $1.36 | $0.00 | $0.00 | $1.53 | $5.39 |
| 2022 | $0.00 | $0.00 | $1.09 | $0.00 | $0.00 | $1.19 | $0.00 | $0.00 | $1.35 | $0.00 | $0.00 | $1.40 | $5.02 |
| 2021 | $0.00 | $0.00 | $0.98 | $0.00 | $0.00 | $1.09 | $0.00 | $0.00 | $1.24 | $0.00 | $0.00 | $1.31 | $4.62 |
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 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 Mega Cap Value Index Fund Institutional Shares was 55.79%, occurring on Mar 5, 2009. Recovery took 915 trading sessions.
The current Vanguard Mega Cap Value Index Fund Institutional Shares drawdown is 1.05%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-55.79%Mar 2009 | 1y 2mo | 3y 7mo | 4y 9moDec 2007 - Oct 2012 | Financial crisis2007–2009 |
-35.57%Mar 2020 | 2mo 2d | 8mo 16d | 10mo 18dJan 2020 - Dec 2020 | COVID crash2020 |
-16.77%Dec 2018 | 3mo 1d | 4mo 6d | 7mo 7dSep 2018 - Apr 2019 | Rate-hike selloffLate 2018 |
-16.60%Sep 2022 | 5mo 12d | 9mo 23d | 1y 3moApr 2022 - Jul 2023 | Bear market2022 |
-13.12%Apr 2025 | 1mo 17d | 2mo 24d | 4mo 11dFeb 2025 - Jul 2025 | 2025 selloff2025 |
Drawdown Indicators
| VMVLX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.79% | -56.78% | +0.99% |
Max Drawdown (1Y)Largest decline over 1 year | -6.41% | -9.10% | +2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -13.12% | -18.90% | +5.78% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -25.43% | +8.83% |
Max Drawdown (10Y)Largest decline over 10 years | -35.57% | -33.92% | -1.65% |
Current DrawdownCurrent decline from peak | -1.05% | -1.58% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -10.70% | +3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 2.14% | -0.49% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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