VFMF
Vanguard U.S. Multifactor ETF
VFMF is an actively managed fund that invests in US equities exhibiting value, momentum, quality, and low volatility factors. The fund seeks long-term capital appreciation.
US
EQUITY
Active
MANAGEMENT STYLE
442.9 M
ASSETS UNDER MGMT
18 bp
EXPENSES
Fund Basics
| Fund sponsor | Vanguard |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 13, 2018 |
| Assets (mns) | $443 |
| Expense ratio | 18 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Delayed |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MICRON TECHNOLOGY INC | 2.2 % |
| NEWMONT MINING CORP | 1.3 % |
| WELLS FARGO & CO | 1.1 % |
| BANK OF NEW YORK MELLON CORP | 1.1 % |
| GILEAD SCIENCES INC | 1.1 % |
| MCKESSON CORP | 1.0 % |
| BRISTOL-MYERS SQUIBB CO | 1.0 % |
| HCA HOLDINGS INC | 1.0 % |
| JOHNSON & JOHNSON | 0.9 % |
| ALTRIA GROUP INC | 0.9 % |
Constituent Breakdown
| Number of holdings | 562 |
| Herfindahl-Hirschman Index | 46 |
| Wgt avg mkt cap (mns) | $173,096 |
| Large cap (>$10bn) | 60.0% |
| Mid cap ($2-10bn) | 29.5% |
| Small cap (<$2bn) | 17.2% |
| Developed mkts. | 107.0% |
| Emerging mkts. | 0.2% |
Country Exposure
 |
UNITED STATES | 92.6 % |
 |
IRELAND | 2.4 % |
 |
BERMUDA | 2.0 % |
 |
PUERTO RICO | 1.0 % |
 |
LUXEMBOURG | 1.0 % |
 |
BRITAIN | 0.9 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 15.4% | 15.4% | 14.6% | 15.1% | 12.5% | -- | -- | 8.9% |
| Dividend Yield | 2.0% | 2.0% | 1.9% | 2.1% | 2.1% | -- | -- | 1.9% |
| Total Returns | 17.4% | 17.4% | 16.5% | 17.2% | 14.6% | -- | -- | 10.8% | Ann. Volatility | 19.1% | 19.1% | 17.3% | 16.9% | 18.5% | -- | -- | 21.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.90 | 84% |
| MSCI EAFE | 0.91 | 61% |
| MSCI Emg Mkts | 0.75 | 48% |
Liquidity Measures
| Avg. volume (000) | 23 |
| ADV traded (mns) | $4 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.23% |
Technical Indicators
| 30d moving avg. (EMA) | $151.40 |
| Relative strength (RSI) | 64 |
| MACD/Signal | 1.82/1.73 |
| Bollinger Bands (Upper/Lower) | $155.82/$149.98 |
| Short interest (% of AUM) | 1.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. VFMF |
Expenses vs. VFMF |
ALTAR Score™ vs. VFMF |
|---|---|---|---|---|
| VFVA | Vanguard U.S. Value Factor ETF | 35.3% | -5 bp | +10.1% |
| ROUS | Hartford Multifactor US Equity ETF | 34.5% | +1 bp | +6.5% |
| VFMO | Vanguard U.S. Momentum Factor ETF | 32.6% | -5 bp | +2.5% |
| VFQY | Vanguard U.S. Quality Factor ETF | 32.3% | -5 bp | +6.3% |
| MFUS | PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF | 31.2% | +11 bp | +6.4% |
| ONEO | State Street SPDR Russell 1000 Momentum Focus ETF | 30.3% | +2 bp | +7.1% |
| STXV | Strive 1000 Value ETF | 30.2% | 0 bp | +7.6% |
| VLU | State Street SPDR S&P 1500 Value Tilt ETF | 29.3% | -6 bp | +6.9% |
| EBI | Longview Advantage ETF | 28.8% | +17 bp | +6.8% |
| JVAL | JPMorgan U.S. Value Factor ETF | 28.4% | -6 bp | +7.8% |
Risk and Returns: VFMF vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 1/11/2026
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
VFMF
7.8%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 1045 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.2%. VFMF's ALTAR Score™ is approximately
1.1 standard deviations
above
the category average. This places VFMF in the 86th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
VFMFSELL
U/W
HOLD
O/W
BUY