Summary
Vanguard Mid-Cap Index Fund Institutional Shares 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: 285. The ten largest make up 9.7% of the fund.
- Yearly costs
- 0.03%
- Fund size
- $216.5B
- Positions
- 285
- Dividend yield
- 1.39%
- Running since
- 1998
What speaks for it
- Costs of 0.03% a year are below the middle of comparable funds (0.40%).
- Widely spread: the ten largest positions make up only 9.7% of the fund.
- A large fund with $216.5B under management.
- Average yearly growth over the last ten years: 9.6%.
- It has been running since 1998.
What to watch
- 99% of the fund is in one country (United States).
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
- -2.2%
- 3 months
- -4.0%
- This year
- +9.4%
- 1 year
- +9.8%
- 3 years
- +55%
- 5 years
- +23%
- 10 years
- +150%
- Avg. market cap
- $70.9B
- P/E
- 4.4x
- Forward P/E
- 17.3x
- P/S
- 0.7x
- P/B
- 0.2x
- P/FCF
- 18.5x
- EV/EBITDA
- 13.7x
- Dividend yield
- 1.00%
- ROIC
- 13.1%
- ROE
- 23.4%
- Gross margin
- 40.8%
- Operating margin
- 57.2%
- Net margin
- -35.1%
- Payout ratio
- 4.5%
- Net debt/EBITDA
- 57.8x
- Beta
- 1.00
Weighted average of the 50 largest companies, which make up 35% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Widely spread- 1 NECloudflare NET 1.1%
- 2 VLValero Energy Corporation VLO 1.1%
- 3 MPMarathon Petroleum Corporation MPC 1.1%
- 4 PSPhillips 66 PSX 1.0%
- 5 PWQuanta Services PWR 1.0%
- 6 VRVertiv VRT 0.9%
- 7 DDDatadog DDOG 0.9%
- 8 HWHowmet Aerospace HWM 0.9%
- 9 HORobinhood HOOD 0.9%
- 10 LILumentum Holdings Inc. LITE 0.9%
Positions in the fund: 285. The ten largest make up 9.7% of it.
Composition as of Nov 6, 2026.
Where is it spread?
One countryBy sector
- Industrials 19%
- Technology 18%
- Financials 14%
- Healthcare 9.3%
- Consumer cyclical 8.7%
- Other 32%
By country
- United States 99%
- Other countries 0.8%
By company size
- Large cap 99%
- Mid cap 0.5%
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: Industrials (19%). Largest country: United States (99%). Largest size group: Large cap (99%).
What does it cost me?
Cheap- A year from $10,000
- $3.00
- Over 20 years
- $151
From every $10,000 invested the fund takes $3.00 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 $151.
How has it done?
Growing over the long run- A year on average, 10 years
- +9.6%
- Deepest drop
- -29%
- Yearly volatility
- 13%
Average yearly growth over the last ten years: 9.6%. Deepest drop in these years: 29% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 1.39%
- Payments a year
- 4
- Last payment
- $0.32
Over the last 12 months it paid $1.21 per share, which is 1.39% of today's price. The last payment was $0.32 on Sep 28, 2026.
How expensive are the companies inside?
Rather cheap- P/E of the companies inside
- 4.4
- Average Bulios Score
- 64 out of 100
Weight by Bulios Fair Price
- Undervalued 14%
- Fairly valued 11%
- Overvalued 75%
On average the companies inside trade for 4.4 times their yearly profit. By Fair Price, 75% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 35% 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 | ||
|---|---|---|---|---|---|---|
VO VO Vanguard Morningstar Mid-Cap ETF | United States | 0.03% | $211.0B | +9.8% | Pays out | 100% |
IM IMCB iShares Morningstar Mid-Cap ETF | United States | 0.04% | $1.71B | +16% | Pays out | 68% |
VO VOE Vanguard Morningstar Mid-Cap Value ETF | United States | 0.05% | $35.9B | +19% | Pays out | 59% |
XO XOEF iShares S&P 500 ex S&P 100 ETF | United States | 0.20% | $22.1M | +15% | Pays out | 57% |
IM IMCG iShares Morningstar Mid-Cap Growth ETF | United States | 0.06% | $3.90B | +11% | Pays out | 55% |
IW IWR iShares Russell Mid-Cap ETF | United States | 0.18% | $56.8B | +13% | Pays out | 54% |