VAW — Vanguard Materials Index Fund ETF Shares

VAW Price Performance — Growth of $10,000

Value of a $10,000 investment in VAW over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

VAW Drawdown

The "underwater" chart: VAW's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Vanguard Materials Index Fund ETF Shares (VAW) is a materials sector fund issued by Vanguard with $4.49 billion in assets. It holds an ETFValuer grade of C, ranking 7th out of 15 peers in its category and 329th of 458 tracked ETFs overall. The fund’s expense ratio of 0.09% is significantly lower than the category median of 0.52%, while its dividend yield of 1.44% sits just below the median of 1.46%. Top ten holdings comprise 55.4% of assets, with Linde PLC representing the largest single position at 14.9%.

VAW has delivered a one-year return of 9.57%, trailing the category median of 12.95%. Short-term performance shows a divergence, with positive gains over one day (+0.46%) and one week (+1.30%) contrasting with declines over one month (-4.35%) and three months (-2.42%). Year-to-date returns stand at +5.66%, while the three-year total return is +36.60%. The fund’s price of $220.51 places it at 55.0% of its 52-week range, and its grade has remained unchanged at C for the last 35 tracked days.

The fund exhibits a beta of 0.94 and an annualized volatility of 19.09%, which is labeled as moderate. A Sharpe ratio of 0.24 suggests modest risk-adjusted returns relative to the risk taken. Maximum drawdown has reached -23.21%, indicating significant historical peak-to-trough declines. Liquidity is reflected in an average daily volume of 57,712 shares, providing a baseline for trading activity.

AI-generated summary based on the data on this page.

VAW Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 55.4% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how VAW's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With VAW

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with VAW's top 10 — FMAT overlaps most, holding 10 of the same companies as VAW's top 10 (55.4% of VAW's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 5.28% (as of 2026-10-07) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 15.08 (as of 2026-10-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

VAW Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 58K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $4.49B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: VAW is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

VAW Performance History

How VAW Compares to Other Materials ETFs