Vanguard S&P Small-Cap 600 Index I (VSMSX)

Fund Assets	6.09B
Expense Ratio	0.03%
Min. Investment	$5,000,000
Turnover	22.00%
Dividend (ttm)	6.22
Dividend Yield	1.23%
Dividend Growth	-2.24%
Payout Frequency	Annual
Ex-Dividend Date	Dec 22, 2025

Previous Close	514.96
YTD Return	13.59%
1-Year Return	17.74%
5-Year Return	32.13%
52-Week Low	419.63
52-Week High	561.10
Beta (5Y)	1.34
Holdings	609
Inception Date	Dec 15, 2010

About VSMSX

Vanguard S&P Small-Cap 600 Index Fund Institutional Shares is a mutual fund designed to closely track the performance of the S&P SmallCap 600 Index. This benchmark includes 600 small-capitalization U.S. companies that meet specific criteria for market capitalization, liquidity, and profitability. The fund uses a market-cap weighted approach, allocating larger portions to faster-growing or more highly valued companies within the index, while maintaining broad diversification to help manage risk and reduce volatility. With a focus on profitable small-cap firms, the fund excludes the lowest-quality stocks, aiming to contain volatility inherent to the small-cap segment. This broad diversification—only about 5% of assets are typically invested in the fund’s top ten holdings—mitigates the impact of any single company’s performance. Positioned within the small blend category, the fund offers institutional investors a cost-effective vehicle with a low expense ratio and a disciplined approach to capturing the growth and characteristics of the U.S. small-cap equity market.

• Fund Family: Vanguard
• Category: Small Blend
• Performance Rating: Average
• Risk Rating: Above Average
• Stock Exchange: Nasdaq
• Ticker Symbol: VSMSX
• Share Class: Institutional Shares
• Index: S&P 600 Small Cap TR

Performance

VSMSX had a total return of 17.74% in the past year, including dividends. Since the fund's inception, the average annual return has been 11.27%.

Equivalent ETF

VSMSX has an equivalent ETF with the ticker symbol VIOO, the Vanguard S&P Small-Cap 600 ETF. This is an ETF from the same fund company that follows the same index. It has an expense ratio of 0.07% compared to 0.03% for VSMSX.

Symbol	Name	Expense Ratio
VIOO	Vanguard S&P Small-Cap 600 ETF	0.07%

Top 10 Holdings

5.31% of assets

Name	Symbol	Weight
Corcept Therapeutics Incorporated	CORT	0.60%
Glaukos Corporation	GKOS	0.59%
Paycom Software, Inc.	PAYC	0.55%
Brinker International, Inc.	EAT	0.54%
Match Group, Inc.	MTCH	0.53%
Jackson Financial Inc.	JXN	0.52%
Viasat, Inc.	VSAT	0.51%
Protagonist Therapeutics, Inc.	PTGX	0.50%
Slcmt1142	n/a	0.49%
CarMax, Inc.	KMX	0.48%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 22, 2025	$6.2245	Dec 23, 2025
Dec 23, 2024	$6.3669	Dec 24, 2024
Dec 19, 2023	$5.9394	Dec 20, 2023
Dec 19, 2022	$5.312	Dec 20, 2022
Dec 20, 2021	$4.9598	Dec 21, 2021
Dec 21, 2020	$3.7054	Dec 22, 2020

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 15, 2026

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