Institutional Index Fund Institutional Shares (VINIX)

 
 

OPTIONS as of
03/28/2013

Options Expense ratio Minimum
Admiral 0.05% N/A
Signal 0.05% N/A
Investor 0.17% $3,000
Inst 0.04% $5,000,000
Inst Plus 0.02% $200,000,000
Trust Note

Pricing flexibility is available. For information about fees, contact your Vanguard representative, or call 800-523-1036.

$400,000,000
ETF 0.05% Note

Vanguard ETF Shares can be bought and sold only through a broker (who may charge a commission) and cannot be redeemed with the issuing fund. The market price of Vanguard ETF Shares may be more or less than net asset value.

About our options  


 

Fees

Purchase fee:

A fee charged by some mutual funds when an investor buys shares. This fee is not a sales charge or load because it is paid directly to the fund to offset the costs of trading certain securities.

 None
Redemption fee:

A fee charged by some mutual funds when an investor sells shares. A redemption fee differs from a back-end load because the money is paid back into the fund. Many funds charge redemption fees only when shares are bought and then sold within a specific period of time, generally in an effort to discourage market-timing and short-term trading. Some brokers also charge their clients redemption fees for the sale of securities.

 None

KEY FACTS

Designation: Domestic Large Blend
VINIX
 inception on 07/31/1990
Earliest share class inception on 08/31/1976
$344.8 billion total net assets

This represents the total net assets for all share classes of Vanguard's U.S. funds, as well as any collective trust that shares the same investment strategy, management and holdings.

 as of 03/31/2014
$90.4 billion net assets for
VINIX
 as of 03/31/2014
502 holdings as of 03/31/2014
Indexed to the S&P 500 Index (SPXT)
Turnover rate (Fiscal year-end  12/31/2013) 5.00%

STYLEBOX

Stock
Index portfolio of large-capitalization U.S. stocks diversified across investment styles.



Expected range
Central tendency

About our styleboxes  

Investment approach



  • Seeks to track the performance of the Standard & Poor’s 500 Index.
  • U.S. large-cap equity diversified across growth and value styles.
  • Passively managed, full-replication approach.
  • Fund remains fully invested.
  • Low expenses minimize net tracking error.

Total returns

View as:

as of 03/31/2014

25%
20
15
10
5
0%
 
 
 
 
 
  1 year 3 year 5 year 10 year Since inception

07/31/1990

NAV 
21.81% 14.63% 21.15% 7.42% 9.57%
Benchmark

S&P 500 Index

*
21.86% 14.66% 21.16% 7.42%

Note: Fee adjusted for mutual funds where applicable.

* A widely used barometer of U.S. stock market performance; as a market-weighted index of leading companies in leading industries, it is dominated by large-capitalization companies.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited.


Sector weightings as of 03/31/2014

  Sector  VINIX Benchmark

S&P 500 Index

+/- Weight
Information Technology 18.6% 18.6% 0.0%
Financials 16.4% 16.4% 0.0%
Health Care 13.4% 13.4% 0.0%
Consumer Discretionary 12.1% 12.1% 0.0%
Industrials 10.7% 10.7% 0.0%
Energy 10.1% 10.1% 0.0%
Consumer Staples 9.7% 9.7% 0.0%
Materials 3.5% 3.5% 0.0%
Utilities 3.1% 3.1% 0.0%
Telecommunication Services 2.4% 2.4% 0.0%
Other 0.0% 0.0% 0.0%
0%
20%
Total 100.0% 100.0%

Sector categories are based on the Global Industry Classification Standard system.

Top 10 holdings as of 03/31/2014

Rank Holding
1 Apple Inc.
2 Exxon Mobil Corp.
3 Google Inc.
4 Microsoft Corp.
5 Johnson & Johnson
6 General Electric Co.
7 Wells Fargo & Co.
8 JPMorgan Chase & Co.
9 Chevron Corp.
10 Berkshire Hathaway Inc.
Top 10 equals 17.8% of net assets

Portfolio holdings may exclude any temporary cash investments and equity index products.

Holdings policy for this fund  

Fundamentals

Stockas of 03/31/2014 VINIX Benchmark

S&P 500 Index

Number of stocks 502 500
Median market cap $66.0 billion $66.3 billion
P/E ratio 18.6x 18.6x
P/B ratio 2.6x 2.6x
Turnover rate 5.0% Fiscal year end 12/2013 N/A

Risk and volatility as of 03/31/2014

  VINIX Benchmark

S&P 500 Index

R-squared N/A 1.00
Beta N/A 1.00
Alpha – 0.01 N/A
Standard deviation 12.47% 12.47%
Sharpe ratio 1.16 1.17

Risk and volatility are based on the share class with the earliest inception date.

Risk measures are calculated from trailing 36-month fund returns relative to the associated benchmarks.

An investment in the fund could lose money over short or even long periods. You should expect the fund’s share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The fund’s performance could be hurt by:

  • Stock market risk: The chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. The fund’s target index may, at times, become focused in stocks of a particular sector, category, or group of companies. Because the fund seeks to track its target index, the fund may underperform the overall stock market.
  • Investment style risk: The chance that returns from large-capitalization stocks will trail returns from the overall stock market. Large-cap stocks tend to go through cycles of doing better—or worse—than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years.



 
 
 
 

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