Investors in search of an Index fund might want to consider looking at Vanguard Small-Cap Growth Index Admiral (VSGAX Quick QuoteVSGAX - Free Report) . VSGAX has no Zacks Mutual Fund Rank, but we have been able to look into other metrics like performance, volatility, and cost.

History of Fund/Manager

Vanguard Group is based in Malvern, PA, and is the manager of VSGAX. Vanguard Small-Cap Growth Index Admiral debuted in September of 2011. Since then, VSGAX has accumulated assets of about $16.77 billion, according to the most recently available information. The fund is currently managed by Gerard O'Reilly who has been in charge of the fund since September of 2011.

Performance

Of course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 17.09%, and is in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 15.06%, which places it in the middle 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. Compared to the category average of 18.6%, the standard deviation of VSGAX over the past three years is 24.25%. Over the past 5 years, the standard deviation of the fund is 19.63% compared to the category average of 15.33%. 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 1.15, so it is likely going to be 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. VSGAX has generated a negative alpha over the past five years of -1.4, 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.

Currently, this mutual fund is holding 77.39% stock in stocks, which have an average market capitalization of $7.96 billion. The fund has the heaviest exposure to the following market sectors:

1. Technology
2. Health
3. Other
4. Industrial Cyclical

Turnover is 32%, which means, on average, the fund makes fewer trades than its comparable peers.

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, VSGAX is a no load fund. It has an expense ratio of 0.07% compared to the category average of 0.78%. So, VSGAX is actually cheaper than its peers from a cost perspective.

This fund requires a minimum initial investment of $3,000, and each subsequent investment should be at least $1.

Bottom Line

Don't stop here for your research on Index 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 VSGAX 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.