Summary
Vanguard Explorer Fund Admiral 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: 833. The ten largest make up 8.7% of the fund.
- Yearly costs
- 0.28%
- Fund size
- $21.7B
- Positions
- 833
- Dividend yield
- 6.91%
- Running since
- 2001
What speaks for it
- Costs of 0.28% a year are below the middle of comparable funds (0.40%).
- Widely spread: the ten largest positions make up only 8.7% of the fund.
- A large fund with $21.7B under management.
- It has been running since 2001.
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
- -2.1%
- 3 months
- -4.3%
- This year
- +9.8%
- 1 year
- +3.1%
- 3 years
- +34%
- 5 years
- -16%
- 10 years
- +46%
- Avg. market cap
- $15.3B
- P/E
- 32.7x
- Forward P/E
- 23.2x
- P/S
- 3.5x
- P/B
- 4.5x
- P/FCF
- 26.5x
- EV/EBITDA
- 17.5x
- Dividend yield
- 0.41%
- ROIC
- 6.1%
- ROE
- 11.4%
- Gross margin
- 49.9%
- Operating margin
- -300.4%
- Net margin
- -54.0%
- Payout ratio
- 13.5%
- Net debt/EBITDA
- 1.2x
- Beta
- 1.09
Weighted average of the 50 largest companies, which make up 28% 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 MTMACOM MTSI 1.3%
- 2 MKTLIQ 12/31/2049 1.2%
- 3 VBVanguard Small Cap Index Fund VB 1.0%
- 4 LSLattice Semiconductor LSCC 0.9%
- 5 RBRegal Beloit Corporation RBC 0.8%
- 6 BWBWX Technologies BWXT 0.8%
- 7 PRPermian Resources Corporation PR 0.7%
- 8 MEMedpace MEDP 0.7%
- 9 GWGuidewire GWRE 0.7%
- 10 WTWintrust Financial Corporation WTFC 0.6%
Positions in the fund: 833. The ten largest make up 8.7% of it.
Composition as of Oct 18, 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 41%
- Mid cap 54%
- Small cap 4.6%
- Micro cap 0.2%
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 (54%).
What does it cost me?
Cheap- A year from $10,000
- $28.00
- Over 20 years
- $1,380
From every $10,000 invested the fund takes $28.00 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 $1,380.
How has it done?
Growing slowly- A year on average, 10 years
- +3.9%
- Deepest drop
- -42%
- Yearly volatility
- 19%
Average yearly growth over the last ten years: 3.9%. Deepest drop in these years: 42% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 6.91%
- Payments a year
- 1
- Last payment
- $8.04
Over the last 12 months it paid $8.04 per share, which is 6.91% of today's price. The last payment was $8.04 on Dec 23, 2025.
How expensive are the companies inside?
Rather expensive- P/E of the companies inside
- 32.7
- Average Bulios Score
- 58 out of 100
Weight by Bulios Fair Price
- Undervalued 16%
- Fairly valued 3.5%
- Overvalued 81%
On average the companies inside trade for 32.7 times their yearly profit. By Fair Price, 81% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 28% 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 | +7.9% | Pays out | 42% |
IV IVOO Vanguard S&P Mid-Cap 400 ETF | United States | 0.07% | $5.70B | +11% | Pays out | 34% |
SP SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF | United States | 0.03% | $18.2B | +11% | Pays out | 34% |
IJ IJH iShares Core S&P Mid-Cap ETF | United States | 0.05% | $121.3B | +11% | Pays out | 34% |
PT PTMC Pacer Trendpilot US Mid Cap ETF | United States | 0.60% | $365.2M | +9.9% | Pays out | 34% |
MD MDY State Street SPDR S&P MIDCAP 400 ETF Trust | United States | 0.23% | $25.5B | +11% | Pays out | 34% |