VMNFX Performance — Vanguard Market Neutral Fund, Investor Shares
Data updated: 2026-08-28
VMNFX returned +14.46% year to date and +20.75% over one year to Jun 2026. Annualised returns are +13.74% over 3 years and +13.70% over 5 years. The fund beat its Core Bond category average: $100 invested three years ago grew to $147, against $120 for the category, and to $121 over one year, against $107. Volatility over the past three years was 6.17% a year. In the 12 months to Jun 2026 the fund took in a net $146.6M, and assets reached $597.17M.
VMNFX Growth of $100
What $100 invested in Vanguard Market Neutral Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Core Bond category average over the same months.
| Period | VMNFX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $121 | $107 |
| 3 years (Jul 2023 – Jun 2026) | $147 | $120 |
| 5 years (Jul 2021 – Jun 2026) | $190 | $112 |
| Since data start (Jul 2019 – Jun 2026) | $186 | $126 |
VMNFX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +14.46% |
| 1 year | +20.75% |
| 3 years (annualised) | +13.74% |
| 5 years (annualised) | +13.70% |
VMNFX Annual Returns
Calendar-year total returns of Vanguard Market Neutral Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +14.46% |
| 2025 | +9.19% |
| 2024 | +5.84% |
| 2023 | +12.24% |
| 2022 | +13.48% |
| 2021 | +23.24% |
| 2020 | −11.57% |
| 2019 (Jul–Dec) | +1.14% |
VMNFX 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 | −0.5% | +3.6% | +2.5% | +3.8% | +1.1% | +3.2% | — | — | — | — | — | — |
| 2025 | +0.5% | +0.3% | −0.9% | +0.3% | +3.2% | +0.1% | −1.8% | +2.7% | +2.6% | −0.4% | +0.8% | +1.4% |
| 2024 | +4.4% | −0.7% | +1.8% | +0.9% | −1.7% | +0.4% | +3.4% | +0.7% | −0.5% | −1.3% | −1.7% | +0.2% |
| 2023 | −1.1% | +2.0% | −2.1% | −1.1% | +0.9% | +2.5% | +0.2% | +3.1% | +4.5% | +0.7% | +0.8% | +1.4% |
| 2022 | +5.4% | −0.9% | +0.1% | +4.3% | +0.8% | −2.2% | +0.3% | −0.8% | +2.2% | +2.2% | −1.3% | +3.0% |
| 2021 | +3.1% | −0.8% | +4.6% | −0.2% | +3.2% | −0.9% | 0.0% | +2.4% | +0.9% | −0.3% | +4.7% | +4.6% |
| 2020 | +0.5% | −3.4% | −2.0% | +0.2% | −2.1% | +1.8% | +0.9% | −2.3% | −0.9% | −3.1% | −1.2% | −0.5% |
| 2019 | — | — | — | — | — | — | +1.5% | +1.1% | +0.2% | −1.0% | −0.3% | −0.4% |
VMNFX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 6.17%
- 3-year Sharpe ratio: 1.50 (vs 4.5% risk-free rate)
- Best month: +4.49% (Sep 2023)
- Worst month: −1.82% (Jul 2025)
VMNFX Fund Flows
Monthly money in and out of Vanguard Market Neutral Fund, from SEC Form N-PORT.
- 12-month net flow: $146.6M
- 12-month gross sales (incl. reinvestments): $261.1M
- Sales ÷ redemptions: 2.28×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $30.3M | $9.5M | $20.7M |
| May 2026 | $56.4M | $9.5M | $47.0M |
| Apr 2026 | $66.4M | $10.0M | $56.4M |
| Mar 2026 | $25.7M | $11.6M | $14.1M |
| Feb 2026 | $9.2M | $6.5M | $2.7M |
| Jan 2026 | $22.6M | $9.2M | $13.4M |
| Dec 2025 | $15.5M | $12.4M | $3.1M |
| Nov 2025 | $7.4M | $11.7M | −$4.3M |
| Oct 2025 | $9.4M | $10.1M | −$645K |
| Sep 2025 | $9.5M | $8.5M | $957K |
| Aug 2025 | $3.5M | $6.8M | −$3.3M |
| Jul 2025 | $5.3M | $8.7M | −$3.5M |
VMNFX Assets Under Management
Net assets of Vanguard Market Neutral Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $597.17M |
| 2026-03-31 | $431.57M |
| 2025-12-31 | $379.18M |
| 2025-09-30 | $386.52M |
| 2025-06-30 | $379.44M |
| 2025-03-31 | $384.28M |
| 2024-12-31 | $431.42M |
| 2024-09-30 | $490.65M |
| 2024-06-30 | $466.21M |
| 2024-03-31 | $499.61M |
| 2023-12-31 | $490.35M |
| 2023-09-30 | $517.49M |
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.