Manager Skill Review · Fund (strategy-level)
VLISX — VANGUARD LARGE-CAP INDEX FUND
Strategy-level ERM3 read from the fund's reported holdings — the mandate-accurate view. The stock-selection residual — the return remaining after the model's specified market, sector, subsector, and style exposures — persists out of sample.
Large Blend · 285 holdings · eff. N 28 · top-10 48%
- Evidence
- N-PORT · registered-fund holdings
- Holdings as of
- 2026-05-31
- Filed
- 2026-08-14
- Model
- ERM3 v3.0
Summary Risk Profile
Return attribution vs risk decompositionVANGUARD LARGE-CAP INDEX FUND is a Large Blend strategy across 285 names (effective N 28, top-10 48%). VANGUARD LARGE-CAP INDEX FUND's +28.2% trailing return was led by market beta (+28.8% market); stock selection contributed +2.5%. About 9% of the trailing gross return came from stock selection versus buyable and style exposure — a exposure-driven signature (return-based, swings with the window).Beta to SPY 1.00 explains 99% of NAV variance; ERM3's multifactor model captures 99% · modeled-vs-reported NAV correlation 0.98 over 244 months.Evidence — not a recommendation.
Cumulative return
trailing 12m · gross vs buyableStrategy-level read from the fund's reported holdings via the RiskModels ERM3 model. Figures are gross, holdings-derived, and within-mandate. Informational use only — not investment advice.