# Vanguard PRIMECAP Fund Admiral Shares (VPMAX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vpmax for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Vanguard · Asset class: Large Cap Equity - Strategy: Thematic · Inception: 2001-11-12 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 in... ## Key Facts | Metric | Value | |---|---| | Price | $225.28 | | Expense Ratio | 0.27% | | Assets Under Management | $91.60B | | NAV | $225.28 | | Holdings Count | 171 | | Distribution Yield (TTM) | 13.51% | | Annual Distribution (TTM) | $30.43 /share | | Distribution Frequency | Annual | | 52-Week Range | $174.07 – $241.35 | | Beta | 1.05 | ## Latest Distribution - Amount: $30.4299 /share - Ex-date: 2025-12-17 - Pay date: 2025-12-18 ## Frequently Asked Questions ### 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. ### Does VPMAX pay a dividend? Vanguard PRIMECAP Fund Admiral Shares (VPMAX) currently distributes little or no income. Trailing-twelve-month yield is 13.51%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does VPMAX pay dividends? Vanguard PRIMECAP Fund Admiral Shares pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is VPMAX's dividend yield? VPMAX's trailing-twelve-month yield is 13.51%, calculated from the sum of dividends over the past year divided by the current price. ### When is VPMAX's next ex-dividend date? The most recently announced ex-dividend date for VPMAX was 2025-12-17. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will VPMAX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.27% 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 VPMAX charge its expense ratio? The expense ratio is deducted in tiny daily slices from VPMAX'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 VPMAX cost more than a fund like VOO? VPMAX's strategy (current expense ratio 0.27%) 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 VPMAX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to VPMAX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as VPMAX (0.27%) 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/vpmax - Distribution history: https://www.dividenddata.com/funds/vpmax/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vpmax/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vpmax/expenses - Peer comparison: https://www.dividenddata.com/funds/vpmax/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.