Vanguard Total Stock Market Index Fund Institutional Plus Shares
VSMPX
NASDAQ- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Vanguard Boulevard Malvern PA United States of America 19355
- IPO Date
- Apr 28, 2015
- CIK
- 0000036405
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) is a mutual fund that employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index, which represents approximately 100% of the investable U.S. stock market, including large-, mid-, small-, and micro-cap stocks. The fund invests by sampling the index, holding a broadly diversified collection of securities that approximates the full index in key characteristics such as market capitalization, industry weightings, and investment style; it maintains low turnover of around 2% through market-cap weighting that leverages collective market wisdom to minimize trading costs and rebalancing frequency. With total net assets exceeding $2 trillion, quarterly dividend distributions, and an adjusted expense ratio of 0.02%, VSMPX targets institutional investors with a minimum initial investment of $100 million and features top holdings concentrated in technology leaders like NVIDIA Corp (7.14%), Apple Inc (6.13%), and Microsoft Corp (5.88%), alongside allocations across sectors including financial services (12.7%), consumer cyclical (10.6%), and communication services (9.7%). The fund operates within the large-blend category, serving retirement plans, endowments, and other institutional clients seeking comprehensive U.S. equity exposure with rock-bottom fees. Managed by Vanguard Group's equity index team, including Walter Nejman (since 2016), Michelle Louie (since 2023), and Nick Birkett (since 2025), VSMPX shares the broader Vanguard Total Stock Market Index family inception dating to April 27, 1992, with its Institutional Plus share class launched on May 24, 2001. Headquartered in Malvern, Pennsylvania—Vanguard's global base since its founding in 1975—the fund benefits from the parent's client-owned structure, which aligns interests and supports operations across U.S. and international offices in regions including Europe, Asia, Australia, and Canada. In recent developments, Vanguard implemented its largest-ever fee reductions in February 2025 across 168 share classes in 87 funds, including index offerings like VSMPX, saving investors an estimated $350 million annually and positioning 98% of active fixed-income funds and 83% of fixed-income ETFs in the lowest cost decile of their Morningstar categories. Under new CEO Salim Ramji, who assumed leadership in July 2024 following Tim Buckley's retirement, the firm established a dedicated advice and wealth management division, launched low-cost bond ETFs, and expanded its Investor Choice program in 2026 by adding three funds—including the flagship 500 Index Fund—to empower 20 million investors managing over $3 trillion. These strategic shifts underscore Vanguard's focus on cost leadership, asset growth rivaling BlackRock, and enhanced services amid rising client demand exceeding 50 million globally.