There are plenty of choices in the Index category, but where should you start your research? Well, one fund that might be worth investigating is Vanguard Mid-Cap Index Admiral (VIMAX Quick QuoteVIMAX - Free Report) . VIMAX 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 VIMAX. The Vanguard Mid-Cap Index Admiral made its debut in November of 2001 and VIMAX has managed to accumulate roughly $66.41 billion in assets, as of the most recently available information. The fund's current manager, Aaron Choi, has been in charge of the fund since August of 2023.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. VIMAX has a 5-year annualized total return of 11.7%, and it sits in the middle 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 13.32%, which places it in the top third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

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. VIMAX's standard deviation over the past three years is 17.29% compared to the category average of 15.32%. Looking at the past 5 years, the fund's standard deviation is 17.67% compared to the category average of 14.65%. 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 1.04, 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. Over the past 5 years, the fund has a negative alpha of -2.86. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

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, VIMAX is a no load fund. It has an expense ratio of 0.05% compared to the category average of 0.94%. Looking at the fund from a cost perspective, VIMAX is actually cheaper than its peers.

While the minimum initial investment for the product is $3,000, investors should also note that each subsequent investment needs to be at least $1.

Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.

Bottom Line

Want even more information about VIMAX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis 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.