Vanguard Mid-Cap Index Fund Institutional Shares
VMCIX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- PO Box 2600 Valley Forge PA United States of America 19482
- IPO Date
- May 21, 1998
- CIK
- 0000036405
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX) is an open-end mutual fund that employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index, a broadly diversified benchmark measuring the investment return of mid-capitalization U.S. stocks. The fund invests all or substantially all of its assets in the common stocks included in the index, holding each stock in approximately the same proportion as its weighting in the index; it provides exposure to mid-sized companies typically positioned between the 70th and 85th percentile of the U.S. equity market by market capitalization, with holdings market-cap weighted and subject to minimum size and liquidity criteria. Key sectors include industrials (16.48%), technology (15.05%), financial services (13.62%), consumer cyclical (11.46%), and healthcare (8.49%), with top holdings such as Constellation Energy Corp. (1.09%), Royal Caribbean Cruises Ltd. (0.99%), DoorDash Inc. (0.93%), Newmont Corporation (0.93%), and Robinhood Markets Inc. (0.89%). Launched on May 21, 1998, the fund is domiciled in the United States and available primarily to institutional investors with a minimum initial investment of $5 million; it is managed by The Vanguard Group, Inc., headquartered in Malvern, Pennsylvania, with current portfolio managers Aaron Choi (since August 4, 2023) and Kenny Narzikul (since February 18, 2025). As of recent data, the fund maintains total net assets of approximately $201 billion across share classes, with the institutional shares class at $24.83 billion, a net expense ratio of 0.04%, and an annual turnover rate of 16%. It targets mid-cap blend style investors seeking low-cost, diversified exposure to U.S. mid-cap equities, with operations focused on the United States market (98.83% of assets), minor non-U.S. stock exposure (0.98%), and negligible cash holdings (0.20%). Recent developments include the addition of Kenny Narzikul as co-portfolio manager effective February 18, 2025, reflecting ongoing portfolio management enhancements at Vanguard; the fund has sustained strong asset growth to over $200 billion amid favorable mid-cap market conditions, with quarterly rebalances spread over five days to minimize trading costs and market impact. No major acquisitions, partnerships, or structural changes specific to VMCIX have been announced in the past 1-2 years, consistent with its passive indexing strategy, though Vanguard as a firm continues broader initiatives such as advisory shifts in related mid-cap funds like Vanguard Mid-Cap Growth Fund in September 2025. The fund remains fully invested without a cash buffer, positioning it to capture index returns closely while exhibiting typical mid-cap volatility.