Fund Evaluator:
Vanguard Capital Opportunity Adm (VHCAX)
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Best Performing in Large Blend Over the Last Year
| 49.8% | PRIMECAP Odyssey Growth (POGRX) |
| 48.6% | Vanguard PRIMECAP Core Inv (VPCCX) |
| 45.8% | Vanguard PRIMECAP Adm (VPMAX) |
| 45.7% | Vanguard PRIMECAP Inv (VPMCX) |
| 42.3% | Midas Special Opportunities (MISEX) |
Fund Details
Vanguard Capital Opportunity Adm Overview
Vanguard Capital Opportunity Adm (VHCAX) is an actively managed U.S. Equity Large Blend fund. Vanguard launched the fund in 2001.
The investment seeks long-term capital appreciation. The fund invests mainly in U.S. stocks, with an emphasis on companies that are considered to have prospects for rapid earnings growth. It does not focus on companies of any particular size, however; the advisor may emphasize mid-cap stocks. The fund's investment advisor uses fundamental research to identify stocks that are expected to outperform the market over a three- to five-year time horizon and that are available at attractive prices relative to their fundamental values.
About Vanguard Capital Opportunity Adm (VHCAX)
There are 5 members of the management team with an average tenure of 22.75 years: M. Ansari (2007), James Marchetti (2015), Alfred Mordecai (1999), Theo Kolokotrones (1998), Joel Fried (1998). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: DJ US Total Stock Market TR USD index with a weighting of 100% and Russell 3000 Growth TR USD index with a weighting of 100%. Vanguard Capital Opportunity Adm has 199 securities in its portfolio. The top 10 holdings constitute 38.6% 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 Capital Opportunity Adm is part of the Equity global asset class and is within the U.S. Equity fund group. Vanguard Capital Opportunity Adm has 11.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 85.0%. There is 11.5% 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 Capital Opportunity Adm has 3.5% of the portfolio in cash.
Assets Under Management
The fund has $31 billion in total assets, which is above the $6 billion average for the Large Blend 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.
VHCAX 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 Capital Opportunity Adm expense ratio is below average compared to funds in the Large Blend category. Vanguard Capital Opportunity Adm has an expense ratio of 0.32%, which is 61% 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 Capital Opportunity Adm 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 48% for the Large Blend category.
Recently, in the month of July 2026, Vanguard Capital Opportunity Adm returned -7.9%, which earned it a grade of F, as the Large Blend category had an average return of 0.4%. 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 Capital Opportunity Adm has a trailing yield of 0.43%, which is below the 0.56% category average. The fund normally distributes its income 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 Capital Opportunity Adm Grades
Year to date, the fund has returned 20.2%, 10.9 percentage points better than the category, which translates into a grade of A. The fund has returned 41.8% over the past year (grade of A), 22.5% over the past three years (grade of A) and 12.9% per year over the past five years (grade of A) and 16.3% per year over the past 10 years (grade of A).
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VHCAX 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 |
|
| VHCAX Return (NAV) | -7.9% | 10.2% | 41.8% | 22.5% | 12.9% | 16.3% |
| VHCAX Grade | F | A | A | A | A | A |
| +/- Category | -8.3% | 6.1% | 24.3% | 5.1% | 1.8% | 2.6% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| VHCAX Tax Cost Ratio | na | na | 2.2% | 1.5% | 1.8% | 1.8% |
VHCAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VHCAX Return (NAV) | 20.2% | 26.0% | 14.3% | 25.6% | -17.5% | 21.1% | 22.9% | 27.3% | -3.7% | 29.2% | 10.6% |
| VHCAX Grade | A | A | F | C | C | F | A | F | A | A | C |
| +/- Category | 10.9% | 10.2% | -7.7% | 1.9% | -0.2% | -5.4% | 5.4% | -2.6% | 2.2% | 7.9% | 0.5% |
| Large Blend Avg | 9.3% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 17.1% |
| Total Risk Index: | 1.39 - High |
| Category Risk Index: | 1.29 - High |
| Category Risk Grade: | F (101% Rank) |
| Beta: | 1.11 |
| R-Squared: | 72% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $32694 Mil |
| Fund Total Assets: | $31,167 Mil |
| Share Class Type: | ADM |
| Portfolio Turnover: | 11% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 28.5 years | |||
| Average Tenure: 22.7 years | |||
| Managers (Year): Kolokotrones Theo (1998), Fried Joel (1998), Mordecai Alfred (1999), Ansari M. (2007), Marchetti James (2015) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 199 |
| % in Top 10 Holdings: | 38.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 11.5% |
Portfolio Allocation |
|
| Domestic Stock: | 85.0% |
| Foreign Stock: | 11.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.5% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Closed |
| Inception Date: | November 12, 2001 |
| Min. Initial Purchase: | $50,000 |
| 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 (%): | 0.32% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Vanguard Capital Opportunity Inv |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
