If you're looking for a Mutual Fund Equity Report fund category, then a possible option is Vanguard Extended Market Index Investor (VEXMX Quick QuoteVEXMX - Free Report) . The fund does not have a Zacks Mutual Fund Rank, though we have been able to explore other metrics like performance, volatility, and cost.

History of Fund/Manager

Vanguard Group is based in Malvern, PA, and is the manager of VEXMX. Vanguard Extended Market Index Investor made its debut in December of 1987, and since then, VEXMX has accumulated about $340.14 million in assets, per the most up-to-date date available. The fund is currently managed by Donald Butler who has been in charge of the fund since November of 2000.

Performance

Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 11.91%, and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 14.02%, which places it in the bottom third during this time-frame.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. VEXMX's standard deviation over the past three years is 24.04% compared to the category average of 16.07%. The standard deviation of the fund over the past 5 years is 21% compared to the category average of 14.26%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 1.21, which means it is hypothetically more volatile than the market at large. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. VEXMX has generated a negative alpha over the past five years of -5.63, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Holdings

Exploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is principally on equities that are traded in the United States.

This fund is currently holding about 93.36% stock in stocks, which have an average market capitalization of $16.95 billion. The fund has the heaviest exposure to the following market sectors:

1. Technology
2. Finance
3. Other

Expenses

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, VEXMX is a no load fund. It has an expense ratio of 0.19% compared to the category average of 0.98%. Looking at the fund from a cost perspective, VEXMX is actually cheaper than its peers.

This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.

Bottom Line

This could just be the start of your research on VEXMXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.