Fund Evaluator:
Vanguard 500 Index Investor (VFINX)
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Best Performing in Large Blend Over the Last Year
| 67.3% | PRIMECAP Odyssey Growth (POGRX) |
| 62.4% | Vanguard PRIMECAP Core Inv (VPCCX) |
| 58.7% | Vanguard PRIMECAP Adm (VPMAX) |
| 58.6% | Vanguard PRIMECAP Inv (VPMCX) |
| 51.1% | PRIMECAP Odyssey Stock (POSKX) |
Fund Details
Vanguard 500 Index Investor Overview
Vanguard 500 Index Investor (VFINX) is a passively managed U.S. Equity Large Blend fund. Vanguard launched the fund in 1976.
The investment seeks to track the performance of the Standard & Poor‘s 500 Index that measures the investment return of large-capitalization stocks. The fund manager employs an indexing investment approach designed to track the performance of the Standard & Poor's 500 Index, a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. 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. The fund is non-diversified.
About Vanguard 500 Index Investor (VFINX)
There are 3 members of the management team with an average tenure of 4.29 years: Michelle Louie (2017), Nick Birkett (2023), Aurélie Denis (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and DJ US Total Stock Market TR USD index with a weighting of 100%. Vanguard 500 Index Investor has 519 securities in its portfolio. The top 10 holdings constitute 39.2% 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 500 Index Investor is part of the Equity global asset class and is within the U.S. Equity fund group. Vanguard 500 Index Investor has 0.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.2%. 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 500 Index Investor has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is below 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.
VFINX 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 500 Index Investor expense ratio is low compared to funds in the Large Blend category. Vanguard 500 Index Investor has an expense ratio of 0.14%, which is 83% 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 500 Index Investor has a portfolio turnover rate of 2%, indicating that holds its assets around 0.5 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of June 2026, Vanguard 500 Index Investor returned -1.0%, which earned it a grade of D, as the Large Blend 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 500 Index Investor has a trailing yield of 0.97%, which is above the 0.56% 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 500 Index Investor Grades
Year to date, the fund has returned 10.1%, 1.1 percentage points better than the category, which translates into a grade of B. The fund has returned 22.2% over the past year (grade of B), 20.4% over the past three years (grade of B) and 13.2% per year over the past five years (grade of B) and 15.3% per year over the past 10 years (grade of A).
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VFINX 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 |
|
| VFINX Return (NAV) | -1.0% | 15.2% | 22.2% | 20.4% | 13.2% | 15.3% |
| VFINX Grade | D | B | B | B | B | A |
| +/- Category | -0.8% | 1.3% | 2.7% | 2.0% | 1.7% | 1.3% |
| Large Blend Avg | -0.2% | 13.8% | 19.5% | 18.5% | 11.6% | 14.1% |
| VFINX Tax Cost Ratio | na | na | 0.3% | 0.3% | 0.3% | 0.4% |
VFINX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VFINX Return (NAV) | 10.1% | 17.7% | 24.8% | 26.1% | -18.2% | 28.5% | 18.2% | 31.3% | -4.5% | 21.7% | 11.8% |
| VFINX Grade | B | B | B | B | C | B | C | B | B | B | B |
| +/- Category | 1.1% | 1.8% | 2.7% | 2.4% | -1.0% | 2.0% | 0.7% | 1.5% | 1.4% | 0.4% | 1.6% |
| Large Blend Avg | 9.0% | 15.9% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 13.1% |
| Total Risk Index: | 1.07 - Above Average |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (44% Rank) |
| Beta: | 1.00 |
| R-Squared: | 100% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1680832 Mil |
| Fund Total Assets: | $2,887 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 2% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.6 years | |||
| Average Tenure: 4.3 years | |||
| Managers (Year): Louie Michelle (2017), Birkett Nick (2023), Denis Aurélie (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 519 |
| % in Top 10 Holdings: | 39.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.4% |
Portfolio Allocation |
|
| Domestic Stock: | 99.2% |
| Foreign Stock: | 0.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Closed |
| Inception Date: | August 31, 1976 |
| Min. Initial Purchase: | $ 0 |
| 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 (%): | 0.14% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Vanguard 500 Index Investor |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
