Fund Evaluator:
Vanguard Windsor™ Admiral™ (VWNEX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Vanguard Windsor™ Admiral™ Overview
Vanguard Windsor™ Admiral™ (VWNEX) is an actively managed U.S. Equity Large Value fund. Vanguard launched the fund in 2001.
The investment seeks to provide long-term capital appreciation and income. The fund invests mainly in large- and mid-capitalization companies whose stocks are considered by an advisor to be undervalued. Undervalued stocks are generally those that are out of favor with investors and that the advisor believes are trading at prices that are below average in relation to measures such as earnings and book value. It uses multiple investment advisors.
About Vanguard Windsor™ Admiral™ (VWNEX)
There are 4 members of the management team with an average tenure of 10.78 years: David Palmer (2018), Benjamin Silver (2014), John Flynn (2017), Richard Pzena (2012). 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 1000 Value TR USD index with a weighting of 100%. Vanguard Windsor™ Admiral™ has 146 securities in its portfolio. The top 10 holdings constitute 16.5% 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 Windsor™ Admiral™ is part of the Equity global asset class and is within the U.S. Equity fund group. Vanguard Windsor™ Admiral™ has 13.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 84.5%. There is 13.1% 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 Windsor™ Admiral™ has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $19 billion in total assets, which is above the $1 billion average for the Large 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.
VWNEX 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 Windsor™ Admiral™ expense ratio is low compared to funds in the Large Value category. Vanguard Windsor™ Admiral™ has an expense ratio of 0.18%, which is 81% 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 Windsor™ Admiral™ has a portfolio turnover rate of 45%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of June 2026, Vanguard Windsor™ Admiral™ returned 1.1%, which earned it a grade of D, as the Large Value category had an average return of 1.6%. 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 Windsor™ Admiral™ has a trailing yield of 1.74%, which is above the 1.25% 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 Windsor™ Admiral™ Grades
Year to date, the fund has returned 8.3%, 2.7 percentage points worse than the category, which translates into a grade of D. The fund has returned 18.6% over the past year (grade of D), 13.5% over the past three years (grade of F) and 10.1% per year over the past five years (grade of C) and 12.4% per year over the past 10 years (grade of B).
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VWNEX 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 |
|
| VWNEX Return (NAV) | 1.1% | 10.2% | 18.6% | 13.5% | 10.1% | 12.4% |
| VWNEX Grade | D | C | D | F | C | B |
| +/- Category | -0.5% | 0.4% | -2.4% | -2.5% | -0.3% | 1.0% |
| Large Value Avg | 1.6% | 9.8% | 21.0% | 15.9% | 10.4% | 11.3% |
| VWNEX Tax Cost Ratio | na | na | 2.2% | 2.5% | 2.8% | 2.4% |
VWNEX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VWNEX Return (NAV) | 8.3% | 13.4% | 10.0% | 15.0% | -3.0% | 28.1% | 7.5% | 30.5% | -12.4% | 19.2% | 12.6% |
| VWNEX Grade | D | D | F | B | B | B | B | A | F | B | D |
| +/- Category | -2.7% | -1.8% | -4.1% | 3.2% | 3.1% | 2.4% | 3.7% | 4.9% | -3.9% | 2.8% | -1.9% |
| Large Value Avg | 11.1% | 15.2% | 14.1% | 11.8% | -6.1% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 12.7% |
| Total Risk Index: | 1.04 - Average |
| Category Risk Index: | 1.05 - Above Average |
| Category Risk Grade: | D (75% Rank) |
| Beta: | 0.79 |
| R-Squared: | 66% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.7% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $24530 Mil |
| Fund Total Assets: | $19,731 Mil |
| Share Class Type: | ADM |
| Portfolio Turnover: | 45% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 13.9 years | |||
| Average Tenure: 10.8 years | |||
| Managers (Year): Pzena Richard (2012), Silver Benjamin (2014), Flynn John (2017), Palmer David (2018) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 146 |
| % in Top 10 Holdings: | 16.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.1% |
Portfolio Allocation |
|
| Domestic Stock: | 84.5% |
| Foreign Stock: | 13.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| 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 (%): | 0.18% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Vanguard Windsor Investor Shares |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
