Vanguard Selected Value Fund Investor Shares (VASVX) is an actively managed open-end mutual fund that seeks long-term capital appreciation and income by investing primarily in undervalued stocks of mid-capitalization U.S. companies. The fund selects stocks trading below their perceived intrinsic value relative to measures such as earnings, book value, and dividend yields; it employs a multimanager approach with external advisors including Barrow, Hanley, Mewhinney & Strauss. Its portfolio comprises approximately 128 holdings across sectors like financials (25%), industrials (20%), and consumer discretionary (12%), with a focus on mid-cap value stocks in the middle 20% of U.S. equity market capitalization; the fund maintains a portfolio turnover of 32% and a net expense ratio of 0.42%.
Incepted on February 15, 1996, the fund is managed by The Vanguard Group, Inc., headquartered in Malvern, Pennsylvania, and operates globally through Vanguard's platform serving individual and institutional investors targeting U.S. equity exposure. VASVX offers investor share classes with a minimum initial investment of $3,000 and subsequent investments of $1; it distributes income through dividends yielding around 1.6-2% and capital gains, with total assets under management of approximately $6.5 billion.
Recent developments include sustained asset growth to over $6.6 billion amid positive year-to-date returns of about 9-10% as of late 2025, reflecting strong performance in mid-cap value amid market volatility; the fund has maintained its multimanager structure without major portfolio or advisory changes reported in 2024-2025. Vanguard continues to emphasize low-cost active management, with no significant acquisitions, partnerships, or strategic shifts specific to VASVX in the past 1-2 years, aligning with broader Vanguard initiatives in passive and active U.S. equity funds.