If you've been stuck searching for Mutual Fund Equity Report funds, consider Vanguard Growth & Income Investor (VQNPX Quick QuoteVQNPX - Free Report) as a possibility. VQNPX carries a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.

History of Fund/Manager

Vanguard Group is based in Malvern, PA, and is the manager of VQNPX. Vanguard Growth & Income Investor debuted in December of 1986. Since then, VQNPX has accumulated assets of about $3.30 billion, according to the most recently available information. The fund's current manager is a team of investment professionals.

Performance

Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 16.38%, 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 20.45%, 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 16.1%, the standard deviation of VQNPX over the past three years is 17.8%. Looking at the past 5 years, the fund's standard deviation is 15.9% compared to the category average of 14.19%. 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 1.01, so it is likely going to be as volatile as the market at large. 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. VQNPX's 5-year performance has produced a negative alpha of -0.44, which means 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 primarily on equities that are traded in the United States.

As of the last filing date, the mutual fund has 97.8% of its assets in stocks, which have an average market capitalization of $406.56 billion. The fund has the heaviest exposure to the following market sectors:

1. Technology
2. Retail Trade
3. Finance

This fund's turnover is about 62%, so the fund managers are making fewer trades than the average comparable fund.

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, VQNPX is a no load fund. It has an expense ratio of 0.32% compared to the category average of 0.93%. Looking at the fund from a cost perspective, VQNPX is actually cheaper than its peers.

Investors need to be aware that with this product, the minimum initial investment is $3,000; each subsequent investment needs to be at least $1.

Bottom Line

Overall, Vanguard Growth & Income Investor ( VQNPX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Vanguard Growth & Income Investor ( VQNPX ) looks like a good potential choice for investors right now.

This could just be the start of your research on VQNPXin 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. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.