Investors in search of a Large Cap Growth fund might want to consider looking at Vanguard Consumer Discret Index Admiral (VCDAX Quick QuoteVCDAX - Free Report) . While this fund is not tracked by the Zacks Mutual Fund Rank, we were able to examine other factors like performance, volatility, and cost.

Objective

We classify VCDAX in the Large Cap Growth category, an area rife with potential choices. Large Cap Growth funds invest in many large U.S. companies that are expected to grow much faster compared to other large-cap stocks. To be considered large-cap, companies must have a market cap over $10 billion.

History of Fund/Manager

VCDAX finds itself in the Vanguard Group family, based out of Malvern, PA. Vanguard Consumer Discret Index Admiral debuted in January of 2004. Since then, VCDAX has accumulated assets of about $589.32 million, according to the most recently available information. Michael Johnson is the fund's current manager and has held that role since December of 2010.

Performance

Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 21.45%, and is in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 20.6%, which places it in the top 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. The standard deviation of VCDAX over the past three years is 25.24% compared to the category average of 16.93%. Over the past 5 years, the standard deviation of the fund is 20.32% compared to the category average of 14.35%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. VCDAX has a 5-year beta of 1.28, which means it is likely to be more volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. VCDAX has generated a positive alpha over the past five years of 1.17, demonstrating that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

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, VCDAX is a no load fund. It has an expense ratio of 0.10% compared to the category average of 1.03%. So, VCDAX is actually cheaper than its peers from a cost perspective.

Investors should also note that the minimum initial investment for the product is $100,000 and that each subsequent investment needs to be at $1.

Bottom Line

Don't stop here for your research on Large Cap Growth funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare VCDAX to its peers as well for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.