Objective
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Investment approach
Performance snapshot
Quarter-end total returnsas of03/31/2025
Note: Returns are unadjusted for transaction fees where applicable.
Note: Except the most recent quarter, the expense ratios presented are the funds' actual operating expenses and they exclude any acquired fees and expenses, which result from the funds' holding in business development companies (BDCs). BDCs expenses are not direct costs paid by fund shareholders and are not used to calculate the funds' net asset value.
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.
Share classesas of
At a glance
Objective
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Investment approach
Process & Management
Process
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| Quarter-end | Year-to-date | 1 year | 3 year | 5 year | 10 year | Since inception[2] | ||
|---|---|---|---|---|---|---|---|---|
 | VIIIX(NAV) | -4.28% | -4.28% | 8.23% | 9.04% | 18.57% | 12.49% | 8.77% |
 | Benchmark[1] | -4.27% | -4.27% | 8.25% | 9.06% | 18.59% | 12.50% | 8.74% |
| +/- Benchmark[4] | -0.01% | -0.01% | -0.02% | -0.02% | -0.02% | -0.01% | 0.03% | |
| Average expense ratio | 0.01% | — | 0.02% | 0.02% | 0.02% | 0.02% | — | |
| Residual error | 0.00% | — | 0.00% | 0.00% | 0.00% | 0.01% | — |
Note: Returns are unadjusted for transaction fees where applicable.
Note: Except the most recent quarter, the expense ratios presented are the funds' actual operating expenses and they exclude any acquired fees and expenses, which result from the funds' holding in business development companies (BDCs). BDCs expenses are not direct costs paid by fund shareholders and are not used to calculate the funds' net asset value.
Quarterly & Annual returns
Cumulative returnsas of04/30/2025
| 1 month | 3 month | 1 year | 3 year | 5 year | 10 year | Since inception[2] | |
|---|---|---|---|---|---|---|---|
| VIIIX(NAV) | -0.68% | -7.50% | 12.07% | 41.07% | 106.33% | 219.17% | 922.41% |
| Benchmark | -0.68% | -7.50% | 12.10% | 41.16% | 106.51% | 219.55% | 913.86% |
Quarterly commentary
Risk and volatilityas of04/30/2025
Relative risk measures |
| 3 year | 5 year | 10 year | ||
|---|---|---|---|---|
| Alpha[3] | ||||
| Primary benchmark*[1] | 0.00% | 0.00% | 0.00% | |
| Broad-based benchmark[2][2] | 0.08% | 0.07% | 0.08% | |
| Beta[4] | ||||
| Primary benchmark*[1] | 1.00 | 1.00 | 1.00 | |
| Broad-based benchmark[2] | 0.97 | 0.97 | 0.96 | |
| R-squared[5] | ||||
| Primary benchmark*[1] | 1.00 | 1.00 | 1.00 | |
| Broad-based benchmark[1] | 0.99 | 0.99 | 0.99 | |
| Information ratio[6] | ||||
| Primary benchmark*[1] | -4.72 | -2.68 | -1.41 | |
| Broad-based benchmark[1] | 0.58 | 0.34 | 0.49 | |
Risk and return statistics |
| 3 year | 5 year | 10 year | ||
|---|---|---|---|---|
| Standard deviation | ||||
| VIIIX | 16.38% | 16.13% | 15.39% | |
| Primary benchmark* | 16.38% | 16.13% | 15.39% | |
| Broad-based benchmark | 16.89% | 16.62% | 15.92% | |
| Sharpe ratio | ||||
| VIIIX | 0.46 | 0.80 | 0.67 | |
| Primary benchmark* | 0.47 | 0.80 | 0.67 | |
| Broad-based benchmark | 0.40 | 0.74 | 0.61 | |
| Sortino ratio | ||||
| VIIIX | 0.79 | 1.33 | 1.10 | |
| Primary benchmark* | 0.79 | 1.33 | 1.10 | |
| Broad-based benchmark | 0.71 | 1.25 | 1.00 | |
Risk measures are calculated from trailing 3, 5, and 10 year fund returns relative to the associated benchmarks.
Closing priceas of05/16/2025
Price analysis
Price history
Inception date: 07/07/1997
Get up to 24 months of prices for this fund. You can also export all prices of this fund since the inception date.
The performance data shown represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that 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.
Performance data for periods of less than one year does not reflect the deduction of purchase and redemption fees. Maintenance, low balance, and service fees may be assessed by some funds. None of these fees are reflected in the performance figures. If these fees were included, the performance would be lower. All other performance data are adjusted for purchase and redemption fees, where applicable. See Fees & Costs below for expense ratio and additional fee details.
The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index. Benchmark comparative indexes represent unmanaged or average returns on various financial assets, which can be compared with funds' total returns for the purpose of measuring relative performance.
Source: FactSet financial data and analytics.
Shareholder feesFees paid directly from your investment | |
| Sales charge (load) imposed on purchases | None |
| Purchase fee | None |
| Redemption fee | None |
Annual fund operating expensesExpenses that you pay each year as a percentage of the value of your investment. | |
| Expense ratio | % |
| 12b-1 distribution fee | None |
Characteristicsas of04/30/2025
| VIIIX | Benchmark | +/- Weight | |
|---|---|---|---|
| Number of stocks | 503 | 503 | 0 |
| Avg market cap | $913.4 billion | $913.5 billion | $0.1 billion |
| Median market cap | $258.5 billion | $258.5 billion | $0.0 billion |
| VIIIX | Benchmark | |
| Earnings growth rate | 19.4% | 19.4% |
| Short-term reserves | — | N/A |
| P/E ratio | 24.6x | 24.6x |
| P/B ratio | 4.5x | 4.5x |
| Turnover rate (Fiscal year-end 12/31/2024) | 4.1% | N/A |
| Return on equity | 27.0% | 27.0% |
| Foreign holdings | 0.04% | N/A |
Market capitalization
| VIIIX | Benchmark[1] | +/- Weight | |
|---|---|---|---|
| Large | 77.9% | 77.9% | 0.0% |
| Medium/Large | 3.2% | 3.2% | 0.0% |
| Medium | 14.5% | 14.5% | 0.0% |
| Medium/Small | 3.9% | 3.8% | 0.1% |
| Small | 0.6% | 0.6% | 0.0% |
Style box
Composition
Sector weightingsas of04/30/2025
[1]S&P 500 Index
The composition of the portfolio's primary asset class. (i.e., for a bond fund, weighted exposures show the composition of the fund's bond allocation and will exclude other asset classes such as the short-term reserves).
Realized/Unrealized gains as of04/30/2025
Distributions
View up to 10 years of distributions for this fund.
Distribution schedule:Quarterly | Fiscal year-end date:12/31/2025
The performance data shown represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that 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. See performance data current to the most recent month end.