Morningstar® Investment Profile™   Investment
Option Disclosure
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  Glossary of
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Core Equity Fund
Please click on the Investment Option Disclosure link above for more information.
Release date as of 2018-08-31. Data on page is subject to change.
Snapshot Total Returns Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
What is this?
As of 2018-08-31
Out of 1184
Large Blend Funds
Style Box™
What is this?
As of 2018-08-31
Total Fund Assets ($ Mil)
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The fund invests in the Vanguard Institutional Index Trust. The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.
The fund employs an indexing investment approach designed to track the performance of the Standard & Poor's 500 Index, a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.
  Morningstar Category: Large Blend
Large-blend portfolios are fairly representative of the overall US stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the US equity market are defined as large cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios tend to invest across the spectrum of US industries, and owing to their broad exposure, the portfolios' returns are often similar to those of the S&P 500 Index. 
Growth of $10,000
(from 2008-01-01 to 2018-08-31)
Investment: Core Equity Fund
Benchmark: S&P 500 TR USD
Category: Large Blend
This graph presents historical performance for the investment as well as an index and/or peer group. If the investment, index and/or peer group have performed similarly, the line representing the fund will overlay the index and/or peer group. Therefore, the line(s) representing the index and/or peer group history may be hidden.
Total Annualized Returns %
YTD 1 Month 3 Month 1 Year 3 Year 5 Year 10 Year Since Inception
Investment 9.88 3.23 7.75 19.59 16.03 14.45 10.78 6.16
S&P 500 TR USD 9.94 3.26 7.76 19.66 16.11 14.52 10.86 6.30
Category 8.11 2.73 6.80 17.70 13.95 12.62 9.75 5.32
Morningstar Rating --- --- --- --- ---
# of compared Large Blend funds covered (3 yrs : out of 1184 funds) (5 yrs : out of 1059 funds) (10 yrs : out of 784 funds)
Ratings reflect risk-adjusted performance and are derived from a weighted average of the performance figures associated with its three, five and ten-year (if applicable) time periods.
Quarterly Trailing Average Annualized Total Returns
YTD 1-Month 3-Month 1-Year 3-Year 5-Year 10-Year Since Inception
Total Avg. Ann. Return % 2.61 0.62 3.42 14.32 11.85 13.35 10.09 5.84
Data through 2018-06-30
Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.
Fees and Expenses
Total Operating Expense per $1000 $0.80
Total Operating Expense 0.08%
Waiver Data
Type Date %
--- --- --- ---
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 99.4
Bullet Non-U.S. Stocks Non-U.S. Stocks 0.5
Bullet Bonds Bonds 0.0
Bullet Cash Cash 0.2
Bullet Other Other 0.0
Asset Allocation Rescaled Graph
Data through 2018-08-31
Morningstar Equity Sectors
% of Stocks
Cyclical 32.81
Basic Materials 2.34
Consumer Cyclical 12.00
Financial Services 16.23
Real Estate 2.24
Sensitive 42.71
Communication Services 3.24
Energy 5.86
Industrials 10.23
Technology 23.38
Defensive 24.49
Consumer Defensive 7.12
Healthcare 14.54
Utilities 2.83
Data through 2018-08-31
Holding Status
Total Number of Stock Holdings 507
Total Number of Bond Holdings 0
% of Net Assets in Top 10 Holdings 22.04
Turnover % (as of 2017-12-31) 5.00
Top Holdings
Sector P/E YTD
Return %
% of Net
Apple Inc --- 17.54 --- 4.54
Microsoft Corp --- 68.03 --- 3.50 Inc --- --- --- 3.29
Facebook Inc A --- 32.89 --- 1.71
JPMorgan Chase & Co --- 14.90 --- 1.58
Berkshire Hathaway Inc B --- 11.59 --- 1.58
Alphabet Inc Class C --- 49.02 --- 1.50
Alphabet Inc A --- 49.50 --- 1.49
Johnson & Johnson --- --- --- 1.47
Exxon Mobil Corp --- 17.06 --- 1.38
Data through 2018-08-31
YTD Return through 2018-08-31
  Principal Risks   
Loss of Money, Not FDIC Insured, Market/Market Volatility, Equity Securities, Management
Show Risk Definitions
  Other Information
Inception Date: 1999-06-01
Portfolio Manager(s)
Michelle Louie   (2017-11-30)
Michelle Louie, CFA, Portfolio Manager at Vanguard. She has been with Vanguard since 2010, has worked in investment management since 2011. Education: B.S., The American University; M.B.A., Georgia Institute of Technology.
Donald M. Butler   (2000-12-31)
Donald M. Butler, CFA, Principal of Vanguard. He has been with Vanguard since 1992; has managed investment portfolios since 1997. Education: B.S.B.A., Shippensburg University.

Investment Advisor(s)
Vanguard Group Inc
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.