Fund Facts  

Inception Date: Nov 12, 2001
CUSIP: 921908877
Ticker Symbol: VGSLX
Morningstar Category:Real Estate
As of Jun 30, 2017
Fund Net Assets ($millions) $63,320

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to provide a high level of income and moderate long-term capital appreciation by tracking the performance of a benchmark index that measures the performance of publicly traded equity REITs.

Principal Investment Strategies  

The fund employs an indexing investment approach designed to track the performance of the MSCI US REIT Index. The index is composed of stocks of publicly traded equity real estate investment trusts (known as REITs). The adviser attempts to replicate the 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 Jun 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vanguard REIT Index Admiral   1.61%2.59%-1.93%8.06%9.28%6.18%10.92%
MSCI US REIT Index (Gross)a,b1.65%2.66%-1.82%8.19%9.38%5.94%N/A
Morningstar Real Estateb,c1.85%2.89%-0.61%7.25%8.49%5.19%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 performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesb
Gross Expenses0.12%
Net Expenses0.12%

 

a. The MSCI US REIT Index reflects the aggregate common stock performance of REIT's (Real Estate Investment Trusts) that own, develop, and manage properties.

b. 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.

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 21, 2017Sep 21, 2017$1.210000000
Jun 22, 2017Jun 22, 2017$1.135000000
Mar 21, 2017Mar 21, 2017$0.842000000
Dec 21, 2016Dec 21, 2016$2.401000000
Sep 12, 2016Sep 12, 2016$0.847000000
Jun 20, 2016Jun 20, 2016$1.082000000
Mar 18, 2016Mar 18, 2016$1.302000000
Dec 22, 2015Dec 22, 2015$1.555000000
Sep 22, 2015Sep 22, 2015$1.065000000
Jun 25, 2015Jun 25, 2015$1.082000000
Mar 24, 2015Mar 24, 2015$0.725000000
Dec 19, 2014Dec 19, 2014$1.562000000
 

Morningstar Information

Morningstar RatingTM   As of Jun 30, 2017
Period Stars Category Size
Overall 4 Stars230
3-Year 3 Stars230
5-Year 3 Stars201
10-Year 4 Stars141

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.

Allocation of Assets As of May 31, 2017
Type of Asset Percent
Equity100%
Fixed Income0%
Cash/Other0%

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

 
 

Characteristics

Allocation of Assets As of May 31, 2017
Asset ClassPercent
Domestic Stock99.8%
Foreign Stock0.0%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash0.2%
Other0.0%

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

 
Top Ten Holdings As of May 31, 2017
Holding NamePercent
Simon Property Group Inc5.9%
Equinix Inc4.1%
Public Storage4.0%
Prologis Inc3.5%
Welltower Inc3.2%
AvalonBay Communities Inc3.2%
Equity Residential2.9%
Ventas Inc2.8%
Digital Realty Trust Inc2.3%
Boston Properties Inc2.2%
 

Statistics

Portfolio Statistics As of Jun 30, 2017
Statistic3-Year5-Year
Beta1.001.00
Alpha-0.12-0.08
Standard Deviation15.0313.79
 
 

Footnotes

1.

Please read the fund's prospectus 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 before investing. You may contact us to obtain a prospectus or to answer questions 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.