Vanguard Materials Index Fund Admiral Shares (VMIAX)

Fund Assets	4.32B
Expense Ratio	0.10%
Min. Investment	$100,000
Turnover	7.00%
Dividend (ttm)	1.64
Dividend Yield	1.34%
Dividend Growth	1.04%
Payout Frequency	Quarterly
Ex-Dividend Date	Dec 17, 2025

Previous Close	121.78
YTD Return	16.38%
1-Year Return	24.48%
5-Year Return	62.21%
52-Week Low	82.52
52-Week High	124.04
Beta (5Y)	n/a
Holdings	118
Inception Date	Feb 11, 2004

About VMIAX

This low-cost index fund offers exposure to the materials sector of the U.S. equity market, which includes stocks of companies that process raw materials. The fund’s main risk is its narrow scope—it invests solely in materials stocks. An investor should expect high volatility from the fund, which should be considered only as a small portion of an already well-diversified portfolio.

• Fund Family: Vanguard
• Category: Natural Resources
• Performance Rating: Above Average
• Risk Rating: Average
• Stock Exchange: NASDAQ
• Ticker Symbol: VMIAX
• Share Class: Admiral Shares
• Index: MSCI US IMI/Materials 25/50 TR USD

Performance

VMIAX had a total return of 24.48% in the past year, including dividends. Since the fund's inception, the average annual return has been 11.01%.

Equivalent ETF

VMIAX has an equivalent ETF with the ticker symbol VAW, the Vanguard Materials ETF. This is an ETF from the same fund company that follows the same index. It has an expense ratio of 0.10% compared to 0.10% for VMIAX.

Symbol	Name	Expense Ratio
VAW	Vanguard Materials ETF	0.10%

Top 10 Holdings

55.95% of assets

Name	Symbol	Weight
Linde plc	LIN	14.27%
Newmont Corporation	NEM	7.83%
CRH plc	CRH	5.99%
The Sherwin-Williams Company	SHW	5.48%
Freeport-McMoRan Inc.	FCX	5.21%
Ecolab Inc.	ECL	4.78%
Air Products and Chemicals, Inc.	APD	3.76%
Corteva, Inc.	CTVA	3.25%
Vulcan Materials Company	VMC	2.69%
Martin Marietta Materials, Inc.	MLM	2.68%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 17, 2025	$0.4132	Dec 18, 2025
Sep 24, 2025	$0.3919	Sep 25, 2025
Jun 26, 2025	$0.4149	Jun 27, 2025
Mar 25, 2025	$0.4236	Mar 26, 2025
Dec 18, 2024	$0.4368	Dec 19, 2024
Sep 27, 2024	$0.4257	Sep 30, 2024