# Vanguard Materials Index Fund Admiral Shares (VMIAX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vmiax for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Vanguard · Asset class: Sector Equity - Strategy: Thematic · Inception: 2004-02-11 This economical index fund tracks the performance of the American materials industry, investing in companies primarily engaged in raw material processing. Its principal vulnerability stems from its concentrated strategy, as it exclusively holds stocks within this single sector. Investors should thus anticipate significant price fluctuations. Given this specialized focus, it is advisable to incorporate this fund merely as a minor component of an already comprehensively diversified investment portfolio. ## Key Facts | Metric | Value | |---|---| | Price | $115.73 | | Expense Ratio | 0.09% | | AUM (All Share Classes) | $4.50B | | NAV | $114.43 | | Holdings Count | 112 | | Distribution Yield (TTM) | 1.40% | | Annual Distribution (TTM) | $1.62 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $96.99 – $124.35 | | Beta | 0.98 | ## Latest Distribution - Amount: $0.3952 /share - Ex-date: 2026-09-23 - Pay date: 2026-09-24 ## Frequently Asked Questions ### What does VMIAX invest in? This economical index fund tracks the performance of the American materials industry, investing in companies primarily engaged in raw material processing. Its principal vulnerability stems from its concentrated strategy, as it exclusively holds stocks within this single sector. Investors should thus anticipate significant price fluctuations. Given this specialized focus, it is advisable to incorporate this fund merely as a minor component of an already comprehensively diversified investment portfolio. ### What is the expense ratio of VMIAX? Vanguard Materials Index Fund Admiral Shares (VMIAX) charges an expense ratio of 0.09%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is VMIAX? Vanguard Materials Index Fund Admiral Shares (VMIAX) is one share class of a fund that manages $4.50B across all of its share classes (VAW reports the same total). Our data does not carry the assets of this share class alone. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is VMIAX actively managed or an index fund? VMIAX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was VMIAX launched? Vanguard Materials Index Fund Admiral Shares (VMIAX) launched in February 2004 and is managed by Vanguard. ### How has VMIAX performed? VMIAX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does VMIAX pay a dividend? Vanguard Materials Index Fund Admiral Shares (VMIAX) currently distributes little or no income. Trailing-twelve-month yield is 1.40%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does VMIAX pay dividends? Vanguard Materials Index Fund Admiral Shares pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is VMIAX's dividend yield? VMIAX's trailing-twelve-month yield is 1.40%, calculated from the sum of dividends over the past year divided by the current price. ### When is VMIAX's next ex-dividend date? The most recently announced ex-dividend date for VMIAX was 2026-09-23. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will VMIAX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.09% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does VMIAX charge its expense ratio? The expense ratio is deducted in tiny daily slices from VMIAX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does VMIAX cost more than a fund like VOO? VMIAX's strategy (current expense ratio 0.09%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where VMIAX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to VMIAX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as VMIAX (0.09%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/vmiax - Distribution history: https://www.dividenddata.com/funds/vmiax/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vmiax/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vmiax/expenses - Peer comparison: https://www.dividenddata.com/funds/vmiax/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.