ETF Evaluator:
Vanguard US Multifactor ETF (VFMF)
Follow This ETF
(as of Aug 12)
Best Performing in Mid-Cap Value Over the Last Year
| 45.0% | VictoryShares Free Cash Flow ETF (VFLO) |
| 39.1% | Bushido Capital US SMID Cap Equity ETF (RNIN) |
| 38.8% | Bushido Capital US Equity ETF (SMRI) |
| 37.8% | ProShares Equities for Rising Rates ETF (EQRR) |
| 37.4% | Vanguard US Multifactor ETF (VFMF) |
Risk
Index
Risk
Index
ETF Details
Vanguard US Multifactor ETF Overview
Vanguard US Multifactor ETF (VFMF) is an actively managed U.S. Equity Mid-Cap Value exchange-traded fund (ETF). Vanguard launched the ETF in 2018.
The investment seeks to provide long-term capital appreciation.
The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. Under normal circumstances, at least 80% of its assets will be invested in securities issued by U.S. companies.
About Vanguard US Multifactor ETF (VFMF)
There are 1 members of the management team with an average tenure of 3.34 years: Scott Rodemer (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Russell 3000 TR USD index with a weighting of 100%. Vanguard US Multifactor ETF has 609 securities in its portfolio. The top 10 holdings constitute 8.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Vanguard US Multifactor ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Vanguard US Multifactor ETF has 2.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.5% There is 2.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Vanguard US Multifactor ETF has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $904 million in total assets, which is below the $2 billion average for the Mid-Cap Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VFMF Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Vanguard US Multifactor ETF expense ratio is low compared to funds in the Mid-Cap Value category. Vanguard US Multifactor ETF has an expense ratio of 0.18%, which is 62% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Vanguard US Multifactor ETF has a portfolio turnover rate of 66%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 72% for the Mid-Cap Value category.
Recently, in the month of July 2026, Vanguard US Multifactor ETF returned 2.6%, which earned it a grade of D, as the Mid-Cap Value category had an average return of 3.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Vanguard US Multifactor ETF has a trailing yield of 1.35%, which is below the 2.05% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Vanguard US Multifactor ETF Grades
Year to date, the ETF has returned 21.7%, 6.3 percentage points better than the category, which translates into a grade of A. The fund has returned 37.4% over the past year (grade of A), 20.6% over the past three years (grade of A) and 14.8% per year over the past five years (grade of A).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Vanguard US Multifactor ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
VFMF Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VFMF Return (NAV) | 2.6% | 8.3% | 37.4% | 20.6% | 14.8% | na |
| VFMF Return (Price) | 2.8% | 8.4% | 37.7% | 20.7% | 14.8% | na |
| NAV +/- Price Return | -0.256% | -0.088% | -0.226% | -0.098% | -0.039% | na |
| Mid-Cap Value Avg | 3.5% | 6.1% | 23.5% | 13.9% | 10.2% | 10.8% |
| VFMF Grade (NAV) | D | A | A | A | A | na |
| +/- Category (NAV) | -1.0% | 2.2% | 14.0% | 6.7% | 4.6% | na |
| VFMF Tax-Cost Ratio | na | na | 0.4% | 0.4% | 0.5% | na |
VFMF Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VFMF Return (NAV) | 21.7% | 17.4% | 15.3% | 18.6% | -5.7% | 30.1% | 4.9% | 22.0% | na | na | na |
| VFMF Return (Price) | 21.7% | 17.4% | 15.6% | 18.5% | -5.7% | 30.0% | 5.0% | 22.3% | na | na | na |
| NAV +/- Price Ret | -0.001% | 0.001% | 0.016% | -0.006% | -0.003% | -0.002% | 0.030% | 1.7% | na | na | na |
| Mid-Cap Value Avg | 15.4% | 10.4% | 12.2% | 12.9% | -5.7% | 31.6% | 0.6% | 25.6% | -10.0% | 15.5% | 20.3% |
| VFMF Grade (NAV) | A | A | B | A | C | C | B | F | na | na | na |
| +/- Category | 6.3% | 7.0% | 3.1% | 5.8% | -0.0% | -1.5% | 4.2% | -3.6% | na | na | na |
| Risk Measures | |
| Beta: | 0.88 |
| R-Squared: | 60% |
| Standard Deviation: | 14.7% |
| Category Risk Index: | 1.03 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.20 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 1.4% |
| Total Assets: | $ 905 Mil |
| Share Class Assets: | $ 905 Mil |
| Turnover: | 66.0% |
| Expense Ratio: | 0.18% |
| Index Fund: | No |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.3 years | |||
| Average Tenure: 3.3 years | |||
| Managers (Year): Rodemer Scott (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 609 |
| % in Top 10 Holdings: | 8.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.1% |
Portfolio Allocation |
|
| Domestic Stock: | 97.5% |
| Foreign Stock: | 2.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Vanguard |
| Phone Number: | 866-499-8473 |
| Website: | www.vanguard.com |
| Inception Date: | February 13, 2018 |
Expenses and Fees
| Expense Ratio (%): | 0.18% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.47% |
