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

Fund Assets	185.27B
Expense Ratio	0.05%
Min. Investment	$3,000
Turnover	17.00%
Dividend (ttm)	1.73
Dividend Yield	1.27%
Dividend Growth	5.76%
Payout Frequency	Quarterly
Ex-Dividend Date	Sep 28, 2026

Previous Close	137.06
YTD Return	11.37%
1-Year Return	13.44%
5-Year Return	38.20%
52-Week Low	115.65
52-Week High	148.17
Beta (5Y)	1.29
Holdings	1311
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 13.44% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.72%.

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 0.05% 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

5.07% of assets

Name	Symbol	Weight
Slcmt1142	n/a	0.94%
Moderna, Inc.	MRNA	0.62%
Natera, Inc.	NTRA	0.54%
Revolution Medicines, Inc.	RVMD	0.51%
Credo Technology Group Holding Ltd	CRDO	0.46%
Twilio Inc.	TWLO	0.44%
EMCOR Group, Inc.	EME	0.40%
Jabil Inc.	JBL	0.40%
TechnipFMC plc	FTI	0.38%
Illumina, Inc.	ILMN	0.38%

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, 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 1, 2026

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