Despite Vanguard Extended Market Fund’s persistent growth tilt, we recognize its utility for investors as a portfolio building block alongside a S&P 500-tracking fund. The fund’s broadly diversified, low-turnover, and low-fee portfolio deliver on this objective, warranting a Process upgrade to Above Average from Average. Consequently, all of its share classes earn Morningstar Analyst Rating upgrades to Gold from Bronze, except for the higher fee Investor share class, which receives a Silver rating.
Morningstar’s Fund Analysis VEXMX
Will VEXMX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VEXMX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the VEXMX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of VEXMX’s parent organization’s priorities and whether they’re in line with investors’ interests.