On Feb. 26, 2021, Cesar Orosco was added as a portfolio manager on Vanguard Market Neutral and Vanguard Strategic Equity, joining comanagers Binbin Guo and James Stetler. This appointment was part of a transition ahead of the July 2021 retirement of Stetler, who has been a named manager since 2012 for both funds. The managers work with a dedicated team to run these quantitative funds and conduct research for model enhancements, so the process is not dependent on one particular person. This change does not impact our Average People Pillar rating or our Morningstar Analyst Rating of Bronze for Vanguard Strategic Equity and our Neutral Analyst Rating for Vanguard Market Neutral.
Vanguard Market Neutral I VMNIX
NAV / 1-Day Return
9.71
/
0.31
%
Total Assets
277.5 Mil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.140%
Expense Ratio
1.120%
Fee Level
Low
Longest Manager Tenure
9.02
years
Category
Equity Market Neutral
Alt Style Correlation / Relative Volatility
Negative / MediumMin. Initial Investment
5,000,000
Status
Open
TTM Yield
0.58%
Turnover
172%
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will VMNIX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VMNIX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the VMNIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of VMNIX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Manager Transition Doesn't Impact Ratings for Vanguard Market Neutral, Vanguard Strategic Equity
