VANGUARD MATERIALS INDEX FUND
VANGUARD WORLD FUND · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
VANGUARD MATERIALS INDEX FUND is a U.S. equity index ETF that tracks the MSCI US Investable Market Index (IMI)/Materials 25/50. 12% of VAW’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
- Index (passive)
- Fund type
- ETF
- Features
- Non-diversified
Fund profile
As filed in the prospectus · 2026 Q2
Vanguard Materials Index Fund (the Fund) seeks to track the performance of a benchmark index that measures the investment return of materials stocks.
The fund employs an indexing approach designed to track the MSCI US Investable Market Index (IMI)/Materials 25/50, which comprises large, mid-size, and small U.S. companies in the materials sector—including chemicals, construction materials, metals, minerals, and mining. It invests substantially all its assets in the stocks that make up the Target Index, holding each in approximately the same proportion as its weighting in the index. Because the fund is nondiversified under the Investment Company Act of 1940, it may invest a greater percentage of its assets in securities of particular issuers than a diversified fund would.
| Share class | Expense ratio |
|---|---|
| VMIAX | 0.09% |
| VAW | 0.09% |
Portfolio turnover 7.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.81% |
| Cash & short-term | 0.60% |
| Derivatives | -0.01% |
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.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Materials | 98.3% |
| Consumer Discretionary | 1.1% |
| Cash | 0.6% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Largest exited: Sealed Air Corp, ORBS
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +27.04% | +38.46% | +39.66% | 16.84% | -11.79% | |
| +27.04% | +38.44% | +39.63% | 16.84% | -11.79% |
These classes hold the same portfolio, so the 0.03pp spread over 5 years is the cost difference between them — roughly 0.01pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| LIN | Linde PLCLIN | 14.92% | $497.69 | $674.47M | 1.4M |
| NEM | Newmont CorpNEM | 7.69% | $109.81 | $347.78M | 3.2M |
| FCX | Freeport-McMoRan IncFCX | 6.06% | $65.71 | $273.84M | 4.2M |
| CRH | CRH PLCCRH | 4.68% | $108.79 | $211.63M | 1.9M |
| SHW | The Sherwin-Williams CoSHW | 4.59% | $303.84 | $207.67M | 683.5K |
| ECL | Ecolab IncECL | 4.19% | $256.00 | $189.39M | 739.8K |
| APD | Air Products and Chemicals IncAPD | 3.81% | $278.62 | $172.47M | 619.0K |
| NUE | Nucor CorpNUE | 3.67% | $250.00 | $166.05M | 664.2K |
| CTVA | Corteva IncCTVA | 3.40% | $78.28 | $153.52M | 2.0M |
| VMC | Vulcan Materials CoVMC | 2.40% | $282.92 | $108.49M | 383.5K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
Top 10 positions are 55.41% of net assets, top 25 77.63%, across 112 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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