Vanguard Market Neutral Fund Investor Shares (VMNFX)

Fund Assets	637.47M
Expense Ratio	1.88%
Min. Investment	$50,000
Turnover	108.00%
Dividend (ttm)	0.49
Dividend Yield	2.85%
Dividend Growth	-34.68%
Payout Frequency	Semi-Annual
Ex-Dividend Date	Mar 30, 2026

Previous Close	17.31
YTD Return	23.34%
1-Year Return	31.26%
5-Year Return	99.21%
52-Week Low	13.42
52-Week High	17.31
Beta (5Y)	-0.07
Holdings	616
Inception Date	Nov 11, 1998

About VMNFX

The Vanguard Market Neutral Fund employs an exceptionally sophisticated and unconventional investment methodology, setting it apart from many other Vanguard offerings. Its core objective is to significantly reduce or entirely offset the influence of broad stock market movements on its investment performance. Consequently, its returns frequently exhibit little to no correlation with the broader equity market. Unlike traditional mutual funds, and indeed many other Vanguard products, this fund actively engages in both long and short-selling strategies, which introduce specific risks not typically encountered in more conventional investment vehicles. Therefore, it is generally considered suitable for a minor allocation within an already robustly diversified portfolio.

• Fund Family: Vanguard
• Category: Equity Mkt Neutral
• Performance Rating: Above Average
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: VMNFX
• Share Class: Investor Shares
• Index: Index is not available on Lipper Database

Performance

VMNFX had a total return of 31.26% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.00%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
VMNIX	Institutional Shares	1.89%

Top 10 Holdings

9.94% of assets

Name	Symbol	Weight
Vanguard Cmt Funds-Vanguard Market Liquidity Fund - Vanguard Market Liquidity Fund	n/a	2.48%
Lam Research Corporation	LRCX	0.92%
MaxLinear, Inc.	MXL	0.87%
Southwest Airlines Co.	LUV	0.86%
Happen, Inc.	HAPN	0.86%
Extreme Networks, Inc.	EXTR	0.84%
PENN Entertainment, Inc.	PENN	0.80%
Slide Insurance Holdings, Inc.	SLDE	0.79%
Sarepta Therapeutics, Inc.	SRPT	0.77%
Virtu Financial, Inc.	VIRT	0.75%

Dividend History

Ex-Dividend	Amount	Pay Date
Mar 30, 2026	$0.011	Mar 31, 2026
Dec 23, 2025	$0.4795	Dec 24, 2025
Mar 28, 2025	$0.014	Mar 31, 2025
Dec 30, 2024	$0.7369	Dec 31, 2024
Mar 27, 2024	$0.0058	Mar 28, 2024
Dec 27, 2023	$0.6724	Dec 28, 2023

Data Sources: Tiingo, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

Data Sources Report a data error