Summary
Vanguard Morningstar Small-Cap Growth Index Fund;Institutional 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: 559. The ten largest make up 12% of the fund.
- Yearly costs
- 0.05%
- Fund size
- $43.0B
- Positions
- 559
- Dividend yield
- 0.44%
- Running since
- 2000
What speaks for it
- Costs of 0.05% a year are below the middle of comparable funds (0.40%).
- Widely spread: the ten largest positions make up only 12% of the fund.
- A large fund with $43.0B under management.
- Average yearly growth over the last ten years: 9.8%.
- It has been running since 2000.
What to watch
- 93% of the fund is in one country (United States).
- In the last five years its price once dropped by 38% 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
- -3.4%
- 3 months
- -5.2%
- This year
- +8.2%
- 1 year
- +8.8%
- 3 years
- +58%
- 5 years
- +12%
- 10 years
- +155%
- Avg. market cap
- $25.6B
- P/E
- 35.5x
- Forward P/E
- 28.8x
- P/S
- 4.7x
- P/B
- 6.1x
- P/FCF
- 36.7x
- EV/EBITDA
- 23.6x
- Dividend yield
- 0.16%
- ROIC
- 5.8%
- ROE
- 11.6%
- Gross margin
- 48.8%
- Operating margin
- -310.7%
- Net margin
- -59.2%
- Payout ratio
- 5.7%
- Net debt/EBITDA
- 0.7x
- Beta
- 1.18
Weighted average of the 50 largest companies, which make up 31% 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 SLCMT1142 2.1%
- 2 NTNatera NTRA 1.6%
- 3 TWTwilio Inc. TWLO 1.3%
- 4 RVRevolution Medicines RVMD 1.2%
- 5 ILIllumina ILMN 1.2%
- 6 PPandora Media, Inc. P 1.2%
- 7 OKOkta OKTA 1.0%
- 8 EMEMCOR EME 0.9%
- 9 CRCredo CRDO 0.9%
- 10 FTTechnipFMC plc FTI 0.8%
Positions in the fund: 559. The ten largest make up 12% of it.
Composition as of Oct 18, 2026.
Where is it spread?
One countryBy sector
- Technology 28%
- Healthcare 20%
- Industrials 19%
- Consumer cyclical 7.3%
- Financials 5.6%
- Other 21%
By country
- United States 93%
- United Kingdom 2.1%
- Cayman Islands 1.4%
- Ireland 0.5%
- Other countries 2.6%
By company size
- Large cap 57%
- Mid cap 41%
- Small cap 2.2%
- Micro cap 0.02%
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 (28%). Largest country: United States (93%). Largest size group: Large cap (57%).
What does it cost me?
Cheap- A year from $10,000
- $5.00
- Over 20 years
- $252
From every $10,000 invested the fund takes $5.00 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 $252.
How has it done?
Growing over the long run- A year on average, 10 years
- +9.8%
- Deepest drop
- -38%
- Yearly volatility
- 21%
Average yearly growth over the last ten years: 9.8%. Deepest drop in these years: 38% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 0.44%
- Payments a year
- 4
- Last payment
- $0.09
Over the last 12 months it paid $0.42 per share, which is 0.44% of today's price. The last payment was $0.09 on Sep 28, 2026.
How expensive are the companies inside?
Rather expensive- P/E of the companies inside
- 35.5
- Average Bulios Score
- 56 out of 100
Weight by Bulios Fair Price
- Undervalued 8.4%
- Fairly valued 1.4%
- Overvalued 90%
On average the companies inside trade for 35.5 times their yearly profit. By Fair Price, 90% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 31% 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 | ||
|---|---|---|---|---|---|---|
VB VBK Vanguard Morningstar Small-Cap Growth ETF | United States | 0.05% | $41.9B | +8.9% | Pays out | 98% |
IV IVOO Vanguard S&P Mid-Cap 400 ETF | United States | 0.07% | $5.70B | +12% | Pays out | 45% |
VB VB Vanguard Small Cap Index Fund | United States | 0.03% | $175.8B | +12% | Pays out | 44% |
SP SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF | United States | 0.03% | $18.2B | +12% | Pays out | 43% |
IJ IJH iShares Core S&P Mid-Cap ETF | United States | 0.05% | $121.3B | +12% | Pays out | 43% |
MD MDY State Street SPDR S&P MIDCAP 400 ETF Trust | United States | 0.23% | $25.5B | +12% | Pays out | 42% |
