ETF Evaluator:
Vanguard Extended Market ETF (VXF)
Follow This ETF
(as of Jul 31)
Best Performing in Mid-Cap Blend Over the Last Year
| 80.2% | Castellan Targeted Equity ETF (CTEF) |
| 78.7% | Invesco S&P Spin-Off ETF (CSD) |
| 65.3% | Tema Electrification ETF (VOLT) |
| 61.9% | Optimize Strategy Index ETF (OPTZ) |
| 60.7% | Invesco S&P 500® High Beta ETF (SPHB) |
Risk
Index
Risk
Index
ETF Details
Vanguard Extended Market ETF Overview
Vanguard Extended Market ETF (VXF) is a passively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Vanguard launched the ETF in 2001.
The investment seeks to track the S&P Completion Index that measures the investment return of small- and mid-capitalization stocks.
The fund employs an indexing investment approach designed to track the performance of S&P Completion Index, a broadly diversified index of stocks of small and mid-size U.S. companies. It invests by sampling the index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full index in terms of key characteristics. These characteristics include industry weightings and market capitalization, as well as certain financial measures, such as price/earnings ratio and dividend yield.
About Vanguard Extended Market ETF (VXF)
There are 3 members of the management team with an average tenure of 2.54 years: Walter Nejman (2025), Michelle Louie (2023) and Nick Birkett (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: DJ US Total Stock Market TR USD index with a weighting of 100% and S&P Completion TR USD index with a weighting of 100%. Vanguard Extended Market ETF has 3343 securities in its portfolio. The top 10 holdings constitute 8.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Vanguard Extended Market ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Vanguard Extended Market ETF has 2.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.3% There is 2.3% 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 Extended Market ETF has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $31 billion in total assets, which is above the $4 billion average for the Mid-Cap 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.
VXF 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 Extended Market ETF expense ratio is low compared to funds in the Mid-Cap Blend category. Vanguard Extended Market ETF has an expense ratio of 0.05%, which is 89% 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 Extended Market ETF has a portfolio turnover rate of 12%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 77% for the Mid-Cap Blend category.
Recently, in the month of June 2026, Vanguard Extended Market ETF returned 4.4%, which earned it a grade of B, as the Mid-Cap Blend category had an average return of 3.4%. 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 ETFs in that category.
Vanguard Extended Market ETF has a trailing yield of 0.99%, which is above the 0.85% 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 Extended Market ETF Grades
Year to date, the ETF has returned 18.4%, 2.2 percentage points better than the category, which translates into a grade of B. The fund has returned 29.1% over the past year (grade of B), 19.7% over the past three years (grade of B) and 6.7% per year over the past five years (grade of F) and 12.6% per year over the past 10 years (grade of B).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Vanguard Extended Market ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
VXF 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 |
|
| VXF Return (NAV) | 4.4% | 19.9% | 29.1% | 19.7% | 6.7% | 12.6% |
| VXF Return (Price) | 4.4% | 19.9% | 29.2% | 19.7% | 6.8% | 12.6% |
| NAV +/- Price Return | 0.010% | -0.002% | -0.068% | 0.007% | -0.019% | 0.005% |
| Mid-Cap Blend Avg | 3.4% | 15.0% | 25.1% | 16.8% | 9.3% | 12.3% |
| VXF Grade (NAV) | B | A | B | B | F | B |
| +/- Category (NAV) | 1.0% | 4.9% | 4.1% | 2.9% | -2.6% | 0.3% |
| VXF Tax-Cost Ratio | na | na | 0.4% | 0.4% | 0.4% | 0.4% |
VXF Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VXF Return (NAV) | 18.4% | 11.4% | 16.9% | 25.4% | -26.5% | 12.4% | 32.2% | 28.0% | -9.4% | 18.1% | 16.2% |
| VXF Return (Price) | 18.4% | 11.4% | 16.9% | 25.5% | -26.5% | 12.3% | 32.4% | 28.0% | -9.3% | 18.1% | 16.2% |
| NAV +/- Price Ret | -0.001% | -0.001% | -0.001% | 0.005% | 0.002% | -0.012% | 0.008% | -0.3% | -0.3% | -0.2% | 0.3% |
| Mid-Cap Blend Avg | 16.2% | 10.5% | 16.1% | 17.0% | -14.5% | 23.3% | 15.6% | 27.4% | -9.1% | 19.1% | 14.8% |
| VXF Grade (NAV) | B | B | B | A | F | F | A | C | C | D | B |
| +/- Category | 2.2% | 0.9% | 0.8% | 8.4% | -12.0% | -10.9% | 16.6% | 0.7% | -0.2% | -1.0% | 1.4% |
| Risk Measures | |
| Beta: | 1.22 |
| R-Squared: | 75% |
| Standard Deviation: | 18.4% |
| Category Risk Index: | 1.18 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.51 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 1.0% |
| Total Assets: | $ 95,281 Mil |
| Share Class Assets: | $ 31,593 Mil |
| Turnover: | 12.0% |
| Expense Ratio: | 0.05% |
| Index Fund: | Yes |
| Index Tracked: | DJ US Total Stock Market TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.3 years | |||
| Average Tenure: 2.5 years | |||
| Managers (Year): Louie Michelle (2023), Birkett Nick (2023), Nejman Walter (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 3343 |
| % in Top 10 Holdings: | 8.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.3% |
Portfolio Allocation |
|
| Domestic Stock: | 95.3% |
| Foreign Stock: | 2.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Vanguard |
| Phone Number: | 866-499-8473 |
| Website: | www.vanguard.com |
| Inception Date: | December 27, 2001 |
Expenses and Fees
| Expense Ratio (%): | 0.05% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.46% |
