Vanguard Morningstar Small-Cap Index Fund Admiral Shares (VSMAX)

Fund Assets	178.19B
Expense Ratio	0.052%
Min. Investment	$3,000
Turnover	17.00%
Dividend (ttm)	1.73
Dividend Yield	1.22%
Dividend Growth	5.76%
Payout Frequency	Quarterly
Ex-Dividend Date	Sep 28, 2026

Previous Close	140.41
YTD Return	15.64%
1-Year Return	17.24%
5-Year Return	35.16%
52-Week Low	115.65
52-Week High	148.17
Beta (5Y)	1.29
Holdings	1306
Inception Date	Oct 3, 1960

About VSMAX

This cost-effective index fund offers extensive access to the U.S. small-cap stock sector. Its primary goal is to mirror the performance of an index composed of smaller corporations. A significant risk associated with this fund is its concentration in the small-capitalization space, an area frequently characterized by market volatility. It presents a compelling option for investors aiming to integrate a small-cap equity component into an existing, well-diversified portfolio.

• Fund Family: Vanguard
• Category: Small Blend
• Performance Rating: Above Average
• Risk Rating: Below Average
• Stock Exchange: Nasdaq
• Ticker Symbol: VSMAX
• Share Class: Admiral Shares
• Index: CRSP US Small Cap TR

Performance

VSMAX had a total return of 17.24% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.83%.

Equivalent ETF

VSMAX has an equivalent ETF with the ticker symbol VB, the Vanguard Morningstar Small-Cap ETF. This is an ETF from the same fund company that follows the same index. It has an expense ratio of 0.03% compared to 0.052% for VSMAX.

Symbol	Name	Expense Ratio
VB	Vanguard Morningstar Small-Cap ETF	0.03%

Other Share Classes

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

Symbol	Share Class	Expense Ratio
VSCPX	Institutional Plus Shares	0.02%
VSCIX	Institutional Shares	0.03%
NAESX	Investor Shares	0.17%

Top 10 Holdings

5.89% of assets

Name	Symbol	Weight
Slcmt1142	n/a	1.31%
Natera, Inc.	NTRA	0.72%
Twilio Inc.	TWLO	0.57%
Revolution Medicines, Inc.	RVMD	0.53%
Illumina, Inc.	ILMN	0.52%
Everpure, Inc.	P	0.52%
Okta, Inc.	OKTA	0.44%
Moderna, Inc.	MRNA	0.44%
EMCOR Group, Inc.	EME	0.42%
Credo Technology Group Holding Ltd	CRDO	0.42%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 28, 2026	$0.3997	Sep 29, 2026
Jun 26, 2026	$0.4204	Jun 29, 2026
Mar 27, 2026	$0.4662	Mar 30, 2026
Dec 22, 2025	$0.4441	Dec 23, 2025
Sep 29, 2025	$0.3857	Sep 30, 2025
Jun 30, 2025	$0.3774	Jul 1, 2025

Data Sources: Tiingo and Finnhub

Historical data is provided by Tiingo. Several fund data points are also provided by Finnhub.

Last checked:

Nov 12, 2026

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