Are you on the hunt for a Mutual Fund Equity Report fund? You should think about starting with Vanguard Institutional Index Fund (
VINIX Quick Quote VINIX - 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 responsible for VINIX, and the company is based out of Malvern, PA. Vanguard Institutional Index Fund debuted in July of 1990. Since then, VINIX has accumulated assets of about $102.05 billion, according to the most recently available information. Donald M. Butler is the fund's current manager and has held that role since December of 2000.
Investors naturally seek funds with strong performance. VINIX has a 5-year annualized total return of 9.51% and it sits 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 9.86%, 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 VINIX over the past three years is 21.43% compared to the category average of 19.17%. The standard deviation of the fund over the past 5 years is 18.75% compared to the category average of 16.9%. This makes the fund more volatile than its peers over the past half-decade.
Investors should note that the fund has a 5-year beta of 1, so it is likely going to be as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. With a positive alpha of 0, managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.
Examining 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 91.72% stock in stocks, which have an average market capitalization of $248.63 billion. The fund has the heaviest exposure to the following market sectors:
Technology Finance Retail Trade
With turnover at about 4%, this fund is making fewer trades than its comparable peers.
Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, VINIX is a no load fund. It has an expense ratio of 0.04% compared to the category average of 0.78%. VINIX is actually cheaper than its peers when you consider factors like cost.
Investors need to be aware that with this product, the minimum initial investment is $5 million; each subsequent investment needs to be at least $1.
For additional information on the Mutual Fund Equity Report area of the mutual fund world, make sure to check out
www.zacks.com/funds/mutual-funds. There, you can see more about the ranking process, and dive even deeper into VINIX too for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.