Summary
Vanguard Dividend Growth Fund is a mutual fund run by Vanguard. It does not trade on an exchange: you buy it from the fund company at a price set once a day. Positions inside: 60. The ten largest make up 38% of the fund.
- Yearly costs
- 0.20%
- Fund size
- $33.4B
- Positions
- 60
- Dividend yield
- 22.10%
- Running since
- 1992
What speaks for it
- Costs of 0.20% a year are below the middle of comparable funds (0.40%).
- A large fund with $33.4B under management.
- It has been running since 1992.
What to watch
- 91% of the fund is in one country (United States).
- In the last five years its price once dropped by 33% from its high.
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- +3.6%
- 3 months
- +3.8%
- This year
- -0.5%
- 1 year
- -12%
- 3 years
- -3.9%
- 5 years
- -15%
- 10 years
- +41%
- Avg. market cap
- $782.2B
- P/E
- 26.2x
- Forward P/E
- 23.2x
- P/S
- 3.1x
- P/B
- 5.9x
- P/FCF
- 26.7x
- EV/EBITDA
- 19.3x
- Dividend yield
- 1.53%
- ROIC
- 17.9%
- ROE
- 50.1%
- Gross margin
- 52.7%
- Operating margin
- 29.9%
- Net margin
- 24.1%
- Payout ratio
- 40.1%
- Net debt/EBITDA
- 1.5x
- Beta
- 0.66
Weighted average of the 50 largest companies, which make up 98% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Moderately concentrated- 1 AVBroadcom AVGO 5.7%
- 2 LLEli Lilly LLY 5.1%
- 3 MSMicrosoft MSFT 4.6%
- 4 KLKLA KLAC 3.7%
- 5 MAMastercard MA 3.6%
- 6 TXTexas Instruments TXN 3.5%
- 7 AAApple AAPL 3.4%
- 8 VVisa V 3.2%
- 9 WFWells Fargo WFC 2.7%
- 10 MRMerck & Co. MRK 2.6%
Positions in the fund: 60. The ten largest make up 38% of it.
Composition as of Oct 18, 2026.
Where is it spread?
One countryBy sector
- Technology 27%
- Financials 20%
- Healthcare 17%
- Industrials 12%
- Consumer cyclical 9.0%
- Other 14%
By country
- United States 91%
- United Kingdom 3.5%
- Switzerland 2.0%
- Ireland 1.6%
- Other countries 1.8%
By company size
- Mega cap 59%
- Large cap 41%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M.
Largest sector: Technology (27%). Largest country: United States (91%). Largest size group: Mega cap (59%).
What does it cost me?
Cheap- A year from $10,000
- $20.00
- Over 20 years
- $993
From every $10,000 invested the fund takes $20.00 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $993.
How has it done?
Growing slowly- A year on average, 10 years
- +3.5%
- Deepest drop
- -33%
- Yearly volatility
- 19%
Average yearly growth over the last ten years: 3.5%. Deepest drop in these years: 33% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 22.10%
- Payments a year
- 2
- Last payment
- $2.12
Over the last 12 months it paid $7.25 per share, which is 22.10% of today's price. The last payment was $2.12 on Mar 30, 2026.
How expensive are the companies inside?
Rather expensive- P/E of the companies inside
- 26.2
- Average Bulios Score
- 70 out of 100
Weight by Bulios Fair Price
- Undervalued 11%
- Fairly valued 11%
- Overvalued 78%
On average the companies inside trade for 26.2 times their yearly profit. By Fair Price, 78% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 98% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
Can I buy it as an ETF?
A mutual fund is bought from the fund company. These ETFs hold much of the same and trade on an exchange, so an ordinary broker carries them.
| Fund | Domicile | Size | 1-year change | Dividends | ||
|---|---|---|---|---|---|---|
VD VDIG Vanguard Wellesley Income Fund - Vanguard Wellington Dividend Growth Active ETF | United States | 0.40% | $32.3M | - | - | 81% |
VG VGH.TO Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) | Canada | 0.29% | $710.5M | +8.8% | Pays out | 45% |
VI VIG Vanguard Dividend Appreciation ETF | United States | 0.04% | $127.7B | +11% | Pays out | 45% |
VG VGG.TO Vanguard U.S. Dividend Appreciation Index ETF | Canada | 0.29% | $1.80B | +12% | Pays out | 45% |
OU OUSA ALPS Funds O’Shares U.S. Quality Dividend ETF | United States | 0.48% | $728.3M | +10% | Pays out | 41% |
PF PFM Invesco Dividend Achievers ETF | United States | 0.52% | $795.7M | +11% | Pays out | 40% |
