VCMDX Performance — Vanguard Commodity Strategy Fund, Admiral Shares
Data updated: 2026-09-28
VCMDX returned +17.84% year to date and +29.74% over one year to Jul 2026. Annualised returns are +11.64% over 3 years and +10.30% over 5 years. The fund trailed its Commodities category average: $100 invested three years ago grew to $139, against $164 for the category, and to $130 over one year, against $134. Volatility over the past three years was 11.54% a year. In the 12 months to Jul 2026 the fund took in a net $292.1M, and assets reached $2.56B.
VCMDX Growth of $100
What $100 invested in Vanguard Commodity Strategy Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Commodities category average over the same months.
| Period | VCMDX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $130 | $134 |
| 3 years (Aug 2023 – Jul 2026) | $139 | $164 |
| 5 years (Aug 2021 – Jul 2026) | $163 | $174 |
| Since data start (Aug 2019 – Jul 2026) | $229 | $216 |
VCMDX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +17.84% |
| 1 year | +29.74% |
| 3 years (annualised) | +11.64% |
| 5 years (annualised) | +10.30% |
VCMDX Annual Returns
Calendar-year total returns of Vanguard Commodity Strategy Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +17.84% |
| 2025 | +18.02% |
| 2024 | +5.29% |
| 2023 | −7.46% |
| 2022 | +13.86% |
| 2021 | +35.23% |
| 2020 | +5.07% |
| 2019 (Aug–Dec) | +4.28% |
VCMDX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +8.8% | +2.1% | +6.0% | +4.9% | −1.9% | −8.4% | +6.1% | — | — | — | — | — |
| 2025 | +4.5% | +1.2% | +4.4% | −4.2% | −0.7% | +2.5% | −0.5% | +2.9% | +1.8% | +2.4% | +2.4% | +0.3% |
| 2024 | +0.2% | −1.7% | +4.1% | +2.4% | +2.0% | −1.7% | −3.2% | 0.0% | +4.9% | −2.0% | +0.2% | +0.3% |
| 2023 | +0.5% | −4.8% | +1.1% | −1.0% | −6.5% | +2.7% | +6.0% | −1.0% | −1.7% | +0.4% | −0.9% | −1.9% |
| 2022 | +7.4% | +6.5% | +8.4% | +3.9% | +1.8% | −11.9% | +5.4% | −0.9% | −9.8% | +2.6% | +3.9% | −2.0% |
| 2021 | +2.9% | +6.2% | −1.5% | +8.6% | +3.9% | +2.3% | +2.9% | −0.1% | +4.5% | +3.2% | −5.8% | +4.3% |
| 2020 | −6.4% | −4.6% | −11.5% | +0.8% | +3.9% | +3.2% | +6.6% | +6.9% | −2.9% | +0.7% | +4.4% | +5.9% |
| 2019 | — | — | — | — | — | — | — | −2.1% | +0.8% | +2.0% | −1.7% | +5.5% |
VCMDX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 11.54%
- 3-year Sharpe ratio: 0.62 (vs 4.5% risk-free rate)
- Best month: +8.84% (Jan 2026)
- Worst month: −8.40% (Jun 2026)
VCMDX Fund Flows
Monthly money in and out of Vanguard Commodity Strategy Fund, from SEC Form N-PORT.
- 12-month net flow: $292.1M
- 12-month gross sales (incl. reinvestments): $1.3B
- Sales ÷ redemptions: 1.28×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $56.3M | $64.8M | −$8.5M |
| Jun 2026 | $135.2M | $92.3M | $42.8M |
| May 2026 | $113.1M | $75.5M | $37.6M |
| Apr 2026 | $128.3M | $74.2M | $54.0M |
| Mar 2026 | $121.2M | $64.2M | $57.0M |
| Feb 2026 | $98.7M | $38.2M | $60.5M |
| Jan 2026 | $110.7M | $52.9M | $57.8M |
| Dec 2025 | $399.0M | $121.1M | $277.9M |
| Nov 2025 | $37.6M | $334.3M | −$296.7M |
| Oct 2025 | $65.8M | $31.8M | $34.1M |
| Sep 2025 | $50.0M | $56.8M | −$6.8M |
| Aug 2025 | $34.0M | $51.6M | −$17.6M |
VCMDX Assets Under Management
Net assets of Vanguard Commodity Strategy Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $2.56B |
| 2026-04-30 | $2.61B |
| 2026-01-31 | $2.14B |
| 2025-10-31 | $2.12B |
| 2025-07-31 | $1.97B |
| 2025-04-30 | $1.89B |
| 2025-01-31 | $1.76B |
| 2024-10-31 | $1.68B |
| 2024-07-31 | $1.32B |
| 2024-04-30 | $1.47B |
| 2024-01-31 | $1.41B |
| 2023-10-31 | $1.58B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.