VANGUARD EQUITY INCOME FUND
Actively managed U.S. stock fund
Vanguard Equity Income Fund (the Fund) seeks to provide an above-average level of current income and reasonable long-term capital appreciation.
The fund invests in common stocks of mid-size and large companies selected for above-average dividend yields and perceived undervaluation, with a focus on firms committed to consistent dividend payments. Multiple independent investment advisors each build and maintain their own stock portfolios for the fund. Because each advisor independently selects securities, the fund's holdings and performance may diverge from what any single strategy would produce.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
AVGOBroadcom Inc | 8.03% | $5.26B | 13.9M | $377.75 |
2.43% | $1.59B | 12.4M | $128.50 | |
2.28% | $1.49B | 5.9M | $253.97 | |
2.18% | $1.43B | 25.1M | $56.98 | |
1.89% | $1.24B | 7.0M | $175.78 | |
1.46% | $954.65M | 8.1M | $117.46 | |
1.34% | $877.85M | 49.5M | $17.73 | |
1.31% | $858.78M | 8.9M | $96.25 | |
1.30% | $852.78M | 3.6M | $238.01 | |
Unilever PLC | 1.27% | $832.77M | 13.9M | $60.12 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
The 200 largest of 231 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 98.17% |
| Cash & short-term | 1.60% |
| Derivatives | -0.04% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- Financials
- 20.9%
- Information Technology
- 16.4%
- Health Care
- 14.0%
- Industrials
- 10.2%
- 10 other sectors
- 38.4%
- Financials
- 20.9%
- Information Technology
- 16.4%
- Health Care
- 14.0%
- Industrials
- 10.2%
- Energy
- 7.9%
- Consumer Staples
- 6.5%
- Utilities
- 6.5%
- Consumer Discretionary
- 3.4%
- Communication Services
- 3.1%
- International
- 2.8%
- Other
- 2.7%
- Materials
- 2.6%
- Real Estate
- 2.2%
- Cash
- 0.7%
How it has done
VEIPX share class · total returns with dividends reinvested
Volatility over the last 12 months: 9.77%. Past returns are a record, not a forecast.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.26% | +26.59% | +56.93% | +72.52% | -8.46% | |
| 0.17% | +26.70% | +57.39% | +73.35% | -8.46% |
These classes hold the same portfolio, so the 0.83pp spread over 5 years is the cost difference between them — roughly 0.17pp a year — not a difference in what they own.
Fees & fund details
VANGUARD EQUITY INCOME FUND is an actively managed U.S. equity fund. 16% of VEIPX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 94% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.17% – 0.26%· VEIPX 0.26%
- Portfolio turnover
- 51.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
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