Fund Facts  

Inception Date: Sep 27, 2011
CUSIP: 921937710
Ticker Symbol: VSGAX
Morningstar Category:Small Growth
As of Sep 30, 2017
Fund Net Assets ($millions) $20,066

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks.

Principal Investment Strategies  

The fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Growth Index, a broadly diversified index of growth stocks of small 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.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vanguard Small-Cap Growth Idxa4.77%15.29%16.92%9.56%12.77%N/A14.64%
CRSP US Small Cap Growth Indexa,b4.76%15.25%16.85%9.48%12.57%7.96%N/A
Morningstar Small Growtha,c5.62%15.93%20.40%11.15%13.02%7.57%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund Expensesa
Gross Expenses0.07%
Net Expenses0.07%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The CRSP US Small Cap Growth Index consists of companies representing small capitalization growth stocks traded in the U.S. on the NYSE, NYSE Market, NASDAQ or ARCA.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Sep 19, 2017Sep 19, 2017$0.073000000
Jun 20, 2017Jun 20, 2017$0.074000000
Mar 23, 2017Mar 23, 2017$0.118000000
Dec 21, 2016Dec 21, 2016$0.219000000
Sep 19, 2016Sep 19, 2016$0.108000000
Jun 13, 2016Jun 13, 2016$0.125000000
Mar 14, 2016Mar 14, 2016$0.053000000
Dec 22, 2015Dec 22, 2015$0.162000000
Sep 24, 2015Sep 24, 2015$0.245000000
Mar 24, 2015Mar 24, 2015$0.010000000
Dec 19, 2014Dec 19, 2014$0.441000000
Mar 24, 2014Mar 24, 2014$0.005000000
Dec 23, 2013Dec 23, 2013$0.276000000
Mar 19, 2013Mar 19, 2013$0.004000000
Dec 21, 2012Dec 21, 2012$0.323000000
 

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 3 Stars597
3-Year 3 Stars597
5-Year 3 Stars532
10-Year N/A N/A

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2017
Equity Stylebox
Small Growth
Allocation of Assets As of Aug 31, 2017
Type of Asset Percent
Equity98%
Fixed Income0%
Cash/Other2%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Aug 31, 2017
Asset ClassPercent
Domestic Stock98.0%
Foreign Stock0.3%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash1.8%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 
Equity Sector As of Aug 31, 2017
SectorPercent
Technology23.4%
Healthcare15.9%
Real Estate13.7%
Industrials13.6%
Consumer Cyclical12.9%
Financial Services6.7%
Energy3.9%
Basic Materials3.8%
Consumer Defensive3.3%
Communication Services0.6%
Utilities0.4%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Holdings As of Aug 31, 2017
Holding NamePercent
CBOE Holdings Inc0.7%
Cadence Design Systems Inc0.7%
Take-Two Interactive Software Inc0.7%
CoStar Group Inc0.6%
Vail Resorts Inc0.6%
Cognex Corp0.6%
Diamondback Energy Inc0.6%
Exelixis Inc0.6%
IAC/InterActiveCorp0.5%
A.O. Smith Corp0.5%
 

Statistics

Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
Beta1.001.00
Alpha0.080.15
Standard Deviation12.4712.48
 
 

Footnotes

1.

Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.