Vanguard PRIMECAP Fund Admiral Shares

Frequently Asked Questions About VPMAX

What does VPMAX invest in?

This large and mid-capitalization growth fund is managed with a long-term outlook, exceptionally low portfolio turnover, and a well-established investment framework. Since its inception in 1984, the advisor, PRIMECAP Management Company, has employed a distinct strategy where multiple portfolio managers independently oversee portions of the fund, thereby promoting a broad range of investment ideas. A key risk is its potential for significant concentration in specific sectors, notably technology and health care. Such focus can lead to heightened short-term performance volatility when these industries experience significant shifts. This fund is generally best considered a complementary addition to an already diversified portfolio for investors with an extended time horizon.

What is the expense ratio of VPMAX?

Vanguard PRIMECAP Fund Admiral Shares (VPMAX) charges an expense ratio of 0.27%. This is the annual fee deducted from fund assets to cover management and operations.

How big is VPMAX?

Vanguard PRIMECAP Fund Admiral Shares (VPMAX) manages $91.60B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is VPMAX actively managed or an index fund?

VPMAX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was VPMAX launched?

Vanguard PRIMECAP Fund Admiral Shares (VPMAX) launched in November 2001 and is managed by Vanguard.

How has VPMAX performed?

VPMAX'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.