The Vanguard Russell 1000 Value Index Fund Institutional Shares (VRVIX) is a mutual fund designed to track the performance of large-cap U.S. companies with value characteristics. The fund is managed by Vanguard and is intended primarily for institutional investors.

Classified as a factor-based equity fund, VRVIX invests in large-cap companies that trade at relatively attractive valuations based on fundamental metrics such as price-to-earnings, price-to-book, and other value measures. Its strategy provides exposure to the large-cap value segment of the U.S. equity market.

The fund follows a passive management approach and seeks to replicate the performance of the Russell 1000 Value Index, a benchmark composed of companies from the Russell 1000 Index classified as value stocks under the FTSE Russell methodology.

Diversification and sector exposure

VRVIX provides exposure primarily associated with:

• U.S. large-cap stocks.

• Value stocks.

• Financial services.

• Healthcare.

• Energy.

• Industrials.

• Consumer sectors.

• U.S. equity market.

The portfolio holds hundreds of large-cap companies across a broad range of industries, providing diversified exposure within the value equity segment. The fund's performance reflects both the behavior of large-cap companies and the relative performance of value stocks compared with growth-oriented equities.

Structure and costs

VRVIX shares are offered primarily to institutional investors and are purchased directly through Vanguard rather than traded on an exchange like an ETF.

The fund carries a low expense ratio, consistent with Vanguard's index fund lineup, and does not apply a performance fee. Dividends and other income received from portfolio holdings are distributed to shareholders according to the fund's distribution policy.

History and evolution of the ETF

The Vanguard Russell 1000 Value Index Fund Institutional Shares was launched in 2003 to provide institutional investors with a low-cost vehicle for tracking the performance of U.S. large-cap value stocks.

Since inception, the fund has served as a passive investment option for investors seeking exposure to the value factor within the U.S. equity market.

In recent years, changes in monetary policy, interest rates, and the relative valuations of value and growth stocks have continued to influence the performance of the companies represented in the fund's portfolio.

Additional Information

Vanguard Russell 1000 Value Index Fund Institutional Shares (United States) is an exchange-traded fund (ETF), with assets under management totaling $9.85 billion.

Over the past 12 months, Vanguard Russell 1000 Value Index Fund Institutional Shares recorded a return of 31.78%, with its price trading between $333.60 and $439.60 during the same period.

The ETF is traded under the ticker VRVIX.