Manager Skill Review · Fund (strategy-level)
VLISX — VANGUARD LARGE-CAP INDEX FUND
ERM3 analysis of the fund's reported holdings. Residual return is the component remaining after the specified model exposures; it does not establish predictive manager skill.
Large Blend · 416 holdings · eff. N 46 · top-10 38%
- Evidence
- N-PORT · registered-fund holdings
- Holdings as of
- 2026-03-31
- Filed
- 2026-05-28
- Model
- ERM3 v3.0
Summary Risk Profile
Return attribution vs risk decompositionVANGUARD LARGE-CAP INDEX FUND is a Large Blend strategy across 416 names (effective N 46, top-10 38%). VANGUARD LARGE-CAP INDEX FUND's +18.2% trailing return was led by market beta (+16.0% market); stock selection contributed +3.1%. About 17% 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 1.01 explains 100% of NAV variance; ERM3's multifactor model captures 100% · modeled-vs-reported NAV correlation 0.99 over 199 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.