Summary
Vanguard Explorer Fund Investor Shares is a mutual fund run by Vanguard. It does not trade on an exchange: you buy it from the fund company at a price set once a day. Positions inside: 817. The ten largest make up 9.4% of the fund.
- Yearly costs
- 0.39%
- Fund size
- $21.7B
- Positions
- 817
- Dividend yield
- 6.44%
- Running since
- 1967
What speaks for it
- Widely spread: the ten largest positions make up only 9.4% of the fund.
- A large fund with $21.7B under management.
- It has been running since 1967.
What to watch
- 91% of the fund is in one country (United States).
- In the last five years its price once dropped by 42% from its high.
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- -0.2%
- 3 months
- -2.0%
- This year
- +12%
- 1 year
- +5.3%
- 3 years
- +39%
- 5 years
- -17%
- 10 years
- +55%
- Avg. market cap
- $14.9B
- P/E
- 34.4x
- Forward P/E
- 25.0x
- P/S
- 4.1x
- P/B
- 4.9x
- P/FCF
- 28.2x
- EV/EBITDA
- 22.9x
- Dividend yield
- 0.36%
- ROIC
- 4.1%
- ROE
- 11.3%
- Gross margin
- 55.7%
- Operating margin
- -302.5%
- Net margin
- -54.2%
- Payout ratio
- 12.5%
- Net debt/EBITDA
- 0.4x
- Beta
- 1.09
Weighted average of the 50 largest companies, which make up 29% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Widely spread- 1 MKTLIQ 12/31/2049 1.7%
- 2 MTMACOM MTSI 1.1%
- 3 VBVanguard Small Cap Index Fund VB 1.0%
- 4 DODigitalOcean Holdings, Inc. DOCN 0.9%
- 5 LSLattice Semiconductor LSCC 0.8%
- 6 PRPermian Resources Corporation PR 0.8%
- 7 MEMedpace MEDP 0.8%
- 8 ATAllegheny Technologies ATI 0.8%
- 9 RBRubrik RBRK 0.7%
- 10 PEverpure P 0.7%
Positions in the fund: 817. The ten largest make up 9.4% of it.
Composition as of Oct 31, 2026.
Where is it spread?
One countryBy sector
- Technology 24%
- Industrials 21%
- Healthcare 20%
- Consumer cyclical 11%
- Financials 9.7%
- Other 14%
By country
- United States 91%
- Ireland 1.4%
- United Kingdom 1.3%
- Cayman Islands 1.2%
- Other countries 4.8%
By company size
- Large cap 45%
- Mid cap 50%
- Small cap 4.3%
- Micro cap 0.1%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M.
Largest sector: Technology (24%). Largest country: United States (91%). Largest size group: Mid cap (50%).
What does it cost me?
Usual costs- A year from $10,000
- $39.00
- Over 20 years
- $1,903
From every $10,000 invested the fund takes $39.00 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $1,903.
How has it done?
Growing slowly- A year on average, 10 years
- +4.5%
- Deepest drop
- -42%
- Yearly volatility
- 19%
Average yearly growth over the last ten years: 4.5%. Deepest drop in these years: 42% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 6.44%
- Payments a year
- 1
- Last payment
- $8.48
Over the last 12 months it paid $8.48 per share, which is 6.44% of today's price. The last payment was $8.48 on Dec 23, 2025.
How expensive are the companies inside?
Rather expensive- P/E of the companies inside
- 34.4
- Average Bulios Score
- 57 out of 100
Weight by Bulios Fair Price
- Undervalued 17%
- Fairly valued 3.2%
- Overvalued 79%
On average the companies inside trade for 34.4 times their yearly profit. By Fair Price, 79% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 29% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
Can I buy it as an ETF?
A mutual fund is bought from the fund company. These ETFs hold much of the same and trade on an exchange, so an ordinary broker carries them.
| Fund | Domicile | Size | 1-year change | Dividends | ||
|---|---|---|---|---|---|---|
VB VBK Vanguard Morningstar Small-Cap Growth ETF | United States | 0.05% | $41.9B | +8.7% | Pays out | 42% |
IS ISCG iShares Morningstar Small-Cap Growth ETF | United States | 0.06% | $962.1M | +11% | Pays out | 41% |
PT PTMC Pacer Trendpilot US Mid Cap ETF | United States | 0.60% | $369.6M | +12% | Pays out | 34% |
IV IVOO Vanguard S&P Mid-Cap 400 ETF | United States | 0.07% | $5.63B | +13% | Pays out | 34% |
SP SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF | United States | 0.03% | $18.6B | +13% | Pays out | 34% |
IJ IJH iShares Core S&P Mid-Cap ETF | United States | 0.05% | $123.2B | +13% | Pays out | 34% |