Large Blend

Summary

The investment seeks to track the performance of the CRSP US Total Market Index that measures the investment return of the overall stock market.
Fund Assets (millions) $2,058,435.1
Portfolio Managers 3
Fund Inception Apr 27, 1992
Gross Expense Ratio 0.02%
Fund Family Vanguard
Prospectus (PDF)

Returns at NAV

Returns at MOP

Asset Mix

U.S. Stocks 98.73%
Non-U.S. Stocks 0.57%
U.S. Bonds 0.00%
Non-U.S. Bonds 0.00%
Convertible 0.00%
Preferred 0.00%
Other 0.21%
Cash 0.48%
As of 11/30/2025
Read important information about results and other investment disclosures
This chart tracks a hypothetical investment, with dividends reinvested, through November 30, 2025
VSMPX
S&P 500 TR USD

Market Capitalization

$0.0 Mil
Average

Giant
40.9%
Large
31.1%
Medium
19.4%
Small
6.3%
Micro
2.2%

As of 11/30/2025

Morningstar Ownership ZoneTM

Large Blend
Weighted average of holdings
75% of fund's stock holdings
As of 11/30/25
INSIGHTS ON THE MORNINGSTAR OWNERSHIP ZONE

Investment Strategy

The fund employs an indexing investment approach designed to track the performance of the index, which represents approximately 100% of the investable U.S. stock market and includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. It invests by sampling the index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full index in terms of key characteristics. The fund is non-diversified.

Fund Facts

Fund Inception Apr 27, 1992
Fund Assets (Millions) $2,058,435.1
Dividend Distribution Frequency Quarterly
Minimum Investment $100,000,000
Capital Gains Distribution Frequency --
Turnover 2%
Fiscal Year-End Dec
Prospectus Date Apr 29, 2025

Returns

Month-End Returns as of 11/30/25

Returns at NAV
| at MOP
Read important information about results and other investment disclosures
VSMPX
S&P 500 TR USD
ANNUAL RETURNS CHART

Quarter-End Returns as of 9/30/25

Yield & Valuation

12-Month Distribution Rates (NAV)
1.12%
30-Day SEC Yield (Gross | Net) 1.10% | 1.10%
Price/Book 4.08
Price/Cash Flow 14.99
Price/Earnings 21.68
As of 11/30/2025

Portfolio Management

Read important investment disclosures
Years of Experience With Fund
Walter Nejman 9 yrs
Michelle Louie 2 yrs
Nick Birkett 0 yrs
As of 11/30/2025

Ratings & Risk

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated(1211)
3-yr. Morningstar RatingTM
(1211 funds rated)
5-yr. Morningstar RatingTM
(1121 funds rated)
10-yr. Morningstar RatingTM
(875 funds rated)
Overall Morningstar Risk Above Average
HIGH
LOW
Morningstar Category
Large Blend
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 11/30/2025.

Risk Measures

Fund
Standard Deviation
15.67
Sharpe Ratio
0.78
R-squared
99
Beta
1.03
Capture Ratio (Downside/Upside)
104/100
American Funds and Morningstar Benchmark for the 10 Years Years ending 11/30/25 R-squared, Beta and Capture Ratio calculated using the S&P 500 TR USD.

Holdings

Equities Breakdown

Sectors
Equity Fund Holdings
 Technology 33.2%
Financial Services 12.9%
Healthcare 10.5%
Consumer Cyclical 10.4%
Communication Services 10.2%
Industrials 8.7%
Consumer Defensive 4.6%
Energy 3.0%
Real Estate 2.4%
Utilities 2.4%
Basic Materials 1.8%

Percentage of net assets as of 11/30/2025

Top 10 Holdings

Apple Inc
6.3%
NVIDIA Corp
6.2%
Microsoft Corp
5.6%
Amazon.com Inc
3.4%
Broadcom Inc
2.9%
Alphabet Inc Class A
2.8%
Alphabet Inc Class C
2.2%
Meta Platforms Inc Class A
2.1%
Tesla Inc
1.8%
Berkshire Hathaway Inc Class B
1.4%

Percentage of net assets as of 11/30/2025

Geographic Breakdown

Regions | Top Countries
Americas
99.6%
Greater Europe
0.3%
Greater Asia
0.2%
Percentage of net assets as of 11/30/2025

Fees & Expenses

Fees

Annual Management Fees 0.02%
Service 12b-1 --
Maximum Sales Charge --
As of each fund's most recent prospectus.

Expense Ratio

Gross
VSMPX 0.02%
Morningstar Category: Large Blend 0.87%
Fund as of most recent prospectus. Morningstar Category as of 11/30/25.