Fund Evaluator:
Vanguard Energy Index Admiral (VENAX)
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Best Performing in Equity Energy Over the Last Year
| 60.0% | Rydex Energy Services Inv (RYVIX) |
| 47.8% | Fidelity Advisor Energy - Z (FFOHX) |
| 47.7% | Fidelity Select Energy Portfolio (FSENX) |
| 47.3% | Guinness Atkinson Global Energy (GAGEX) |
| 47.3% | Fidelity Advisor Energy - A (FFOBX) |
Fund Details
Vanguard Energy Index Admiral Overview
Vanguard Energy Index Admiral (VENAX) is a passively managed Sector Equity Equity Energy fund. Vanguard launched the fund in 2004.
The investment seeks to track the performance of the MSCI U.S. Investable Market Index (IMI)/Energy 25/50. The fund employs an indexing investment approach designed to track the performance of the index, an index made up of stocks of large, mid-size, and small U.S. companies within the energy sector, as classified under the GICS. The Advisor attempts to replicate the target index by seeking to invest all, or substantially all, of its assets in the stocks that make up the index, in order to hold each stock in approximately the same proportion as its weighting in the index. The fund is non-diversified.
About Vanguard Energy Index Admiral (VENAX)
There are 2 members of the management team with an average tenure of 1.45 years: Aaron Choi (2025), Chris Nieves (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI US Investable Market 2500 GR USD index with a weighting of 100% and MSCI US IMI/Energy 25-50 GR USD index with a weighting of 100%. Vanguard Energy Index Admiral has 118 securities in its portfolio. The top 10 holdings constitute 63.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Vanguard Energy Index Admiral is part of the Equity global asset class and is within the Sector Equity fund group. Vanguard Energy Index Admiral has 0.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.4%. There is 0.4% 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 Energy Index Admiral has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $431 million average for the Equity Energy 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.
VENAX 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 Energy Index Admiral expense ratio is low compared to funds in the Equity Energy category. Vanguard Energy Index Admiral has an expense ratio of 0.09%, which is 93% 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 Energy Index Admiral has a portfolio turnover rate of 11%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 136% for the Equity Energy category.
Recently, in the month of July 2026, Vanguard Energy Index Admiral returned 11.7%, which earned it a grade of B, as the Equity Energy category had an average return of 8.2%. 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 funds in that category.
Vanguard Energy Index Admiral has a trailing yield of 2.40%, which is above the 1.27% category average. The fund normally distributes its income quarterly and its capital gains annually.
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 Energy Index Admiral Grades
Year to date, the fund has returned 35.0%, 2.6 percentage points better than the category, which translates into a grade of B. The fund has returned 41.2% over the past year (grade of C), 14.6% over the past three years (grade of D) and 23.6% per year over the past five years (grade of B) and 9.8% per year over the past 10 years (grade of B).
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VENAX 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 |
|
| VENAX Return (NAV) | 11.7% | -0.2% | 41.2% | 14.6% | 23.6% | 9.8% |
| VENAX Grade | B | B | C | D | B | B |
| +/- Category | 3.5% | 3.2% | -0.9% | -0.5% | 2.1% | 2.4% |
| Equity Energy Avg | 8.2% | -3.4% | 42.1% | 15.1% | 21.6% | 7.4% |
| VENAX Tax Cost Ratio | na | na | 0.7% | 0.7% | 0.8% | 0.8% |
VENAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VENAX Return (NAV) | 35.0% | 7.2% | 6.6% | 0.0% | 63.0% | 56.1% | -33.0% | 9.3% | -19.9% | -2.4% | 28.9% |
| VENAX Grade | B | D | B | F | A | A | D | B | A | B | C |
| +/- Category | 2.6% | -4.9% | 1.1% | -2.0% | 16.5% | 11.6% | -4.5% | 1.4% | 7.0% | 2.6% | -0.2% |
| Equity Energy Avg | 32.5% | 12.2% | 5.5% | 2.0% | 46.5% | 44.5% | -28.5% | 8.0% | -26.9% | -5.0% | 29.2% |
| Risk Measures | |
| Standard Deviation: | 19.8% |
| Total Risk Index: | 1.61 - High |
| Category Risk Index: | 1.03 - High |
| Category Risk Grade: | F (97% Rank) |
| Beta: | -0.07 |
| R-Squared: | 0% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.4% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $12147 Mil |
| Fund Total Assets: | $1,973 Mil |
| Share Class Type: | ADM |
| Portfolio Turnover: | 11% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Choi Aaron (2025), Nieves Chris (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 118 |
| % in Top 10 Holdings: | 63.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.4% |
Portfolio Allocation |
|
| Domestic Stock: | 98.4% |
| Foreign Stock: | 0.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.5% |
| Cash: | 0.8% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | October 7, 2004 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.09% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 1.27% |
| Share Class: | Vanguard Energy ETF |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
