Fund Evaluator:
Vanguard STAR Inv (VGSTX)
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Best Performing in Global Moderate Allocation Over the Last Year
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Fund Details
Vanguard STAR Inv Overview
Vanguard STAR Inv (VGSTX) is an actively managed Allocation Global Moderate Allocation fund. Vanguard launched the fund in 1985.
The investment seeks long-term capital appreciation and income. The fund typically invests 60-70% of its assets in common stocks through actively-managed underlying stock funds and 30-40% of its assets in bonds through an actively-managed underlying bond fund.
About Vanguard STAR Inv (VGSTX)
There are 3 members of the management team with an average tenure of 6.70 years: Michael Roach (2023), Walter Nejman (2013), Aurélie Denis (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 4 primary benchmarks: DJ US Total Stock Market TR USD index with a weighting of 100%, MSCI US Broad Market NR USD index with a weighting of 43%, Bloomberg US Universal TR USD index with a weighting of 37% and MSCI ACWI Ex USA NR USD index with a weighting of 18%. Vanguard STAR Inv has 11 securities in its portfolio. The top 10 holdings constitute 100.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Vanguard STAR Inv is part of the Allocation global asset class and is within the Allocation fund group. Vanguard STAR Inv has 31.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 39.5%. There is 21.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 37.3% (26.9% domestic bond, 10.4% foreign bond and 0.0% convertible bond). Vanguard STAR Inv has 1.8% of the portfolio in cash.
Assets Under Management
The fund has $24 billion in total assets, which is above the $948 million average for the Global Moderate Allocation 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.
VGSTX 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 STAR Inv expense ratio is below average compared to funds in the Global Moderate Allocation category. Vanguard STAR Inv has an expense ratio of 0.29%, which is 72% 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 STAR Inv has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 66% for the Global Moderate Allocation category.
Recently, in the month of June 2026, Vanguard STAR Inv returned 0.4%, which earned it a grade of B, as the Global Moderate Allocation category had an average return of -0.2%. 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 STAR Inv has a trailing yield of 2.24%, which is below the 2.64% category average. The fund normally distributes its income semi-annually 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 STAR Inv Grades
Year to date, the fund has returned 6.4%, 1.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 14.8% over the past year (grade of D), 12.5% over the past three years (grade of C) and 5.5% per year over the past five years (grade of D) and 9.4% per year over the past 10 years (grade of A).
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VGSTX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VGSTX Return (NAV) | 0.4% | 8.8% | 14.8% | 12.5% | 5.5% | 9.4% |
| VGSTX Grade | B | B | D | C | D | A |
| +/- Category | 0.6% | 1.6% | -1.0% | -0.2% | -0.7% | 1.8% |
| Global Moderate Allocation Avg | -0.2% | 7.2% | 15.9% | 12.7% | 6.3% | 7.5% |
| VGSTX Tax Cost Ratio | na | na | 2.4% | 1.9% | 2.0% | 1.8% |
VGSTX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VGSTX Return (NAV) | 6.4% | 15.9% | 9.1% | 17.1% | -18.0% | 9.7% | 21.4% | 22.2% | -5.3% | 18.3% | 6.6% |
| VGSTX Grade | D | C | C | A | F | D | A | A | A | A | C |
| +/- Category | -1.4% | -0.3% | 0.6% | 4.9% | -4.6% | -2.0% | 11.7% | 4.5% | 1.8% | 4.3% | -0.1% |
| Global Moderate Allocation Avg | 7.8% | 16.2% | 8.4% | 12.2% | -13.4% | 11.6% | 9.8% | 17.7% | -7.1% | 14.0% | 6.6% |
| Risk Measures | |
| Standard Deviation: | 10.0% |
| Total Risk Index: | 0.82 - Average |
| Category Risk Index: | 1.09 - High |
| Category Risk Grade: | F (90% Rank) |
| Beta: | 1.04 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.2% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $24083 Mil |
| Fund Total Assets: | $24,084 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 56% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 13.4 years | |||
| Average Tenure: 6.7 years | |||
| Managers (Year): Nejman Walter (2013), Denis Aurélie (2023), Roach Michael (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 11 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 31.9% |
Portfolio Allocation |
|
| Domestic Stock: | 39.5% |
| Foreign Stock: | 21.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 26.9% |
| Foreign Bond: | 10.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.8% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | March 29, 1985 |
| Min. Initial Purchase: | $1,000 |
| 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 (%): | 0.29% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | Vanguard STAR Inv |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
