Fund Evaluator:

Vanguard Russell 2000 Growth Index I Overview

Vanguard Russell 2000 Growth Index I (VRTGX) is a passively managed U.S. Equity Small Growth fund. Vanguard launched the fund in 2011.

The investment seeks to track the performance of the Russell 2000® Growth Index that measures the investment return of small-capitalization growth stocks in the United States. The fund advisor employs an indexing investment approach designed to track the performance of the Russell 2000® Growth Index. The index is designed to measure the performance of small-capitalization growth stocks in the United States. The advisor attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

About Vanguard Russell 2000 Growth Index I (VRTGX)

There are 2 members of the management team with an average tenure of 2.45 years: Aaron Choi (2025), Kenny Narzikul (2023). 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 2000 Growth TR USD index with a weighting of 100%. Vanguard Russell 2000 Growth Index I has 1140 securities in its portfolio. The top 10 holdings constitute 5.9% 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 Russell 2000 Growth Index I is part of the Equity global asset class and is within the U.S. Equity fund group. Vanguard Russell 2000 Growth Index I has 1.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.8%. There is 1.6% 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 Russell 2000 Growth Index I has 1.6% of the portfolio in cash.

Assets Under Management

The fund has $226 million in total assets, which is below the $431 million average for the Small Growth 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.

VRTGX 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 Russell 2000 Growth Index I expense ratio is low compared to funds in the Small Growth category. Vanguard Russell 2000 Growth Index I has an expense ratio of 0.05%, which is 96% 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 Russell 2000 Growth Index I has a portfolio turnover rate of 28%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Small Growth category.

Recently, in the month of July 2026, Vanguard Russell 2000 Growth Index I returned -5.8%, which earned it a grade of C, as the Small Growth category had an average return of -6.7%. 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 Russell 2000 Growth Index I has a trailing yield of 0.64%, which is above the 0.06% 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 Russell 2000 Growth Index I Grades

Year to date, the fund has returned 15.1%, 1.5 percentage points better than the category, which translates into a grade of C. The fund has returned 28.6% over the past year (grade of B), 14.4% over the past three years (grade of B) and 5.2% per year over the past five years (grade of B) and 10.7% per year over the past 10 years (grade of C).

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