How much AUM does VXF have?

VXF manages approximately $84.3B in assets under management.

How many holdings does VXF have?

VXF holds 500 securities. The top holding is Marvell Technology Inc. at 2.1% weight.

What is VXF's weighted P/E ratio?

The holdings-weighted P/E ratio for VXF is 25.1x, calculated from constituent stock valuations.

How concentrated is VXF?

VXF has an HHI concentration score of 19. This indicates a well-diversified portfolio.

ETF · Broad Market

VXF(VXF)

$238.41

+0.44%

—

Expense Ratio

$84.3B

Total AUM

—

Holdings

—

Inception

Active Share vs VOO

Truly Active

0%20%60%100%

83.8%

AI Look-Through Summary

AI Generated

The portfolio's sector allocation skews towards smaller, more niche sectors such as technology and industrials, with these two categories combined accounting for over 14% of the fund's holdings. This is in contrast to the broader market, which tends to be more heavily weighted towards larger-cap sectors like financials and consumer staples. The fund's valuation posture appears fairly rich, with a weighted P/E ratio above 23x and a weighted P/B ratio exceeding 7.9x.

The top holdings are concentrated among a small group of mid-to-large cap stocks, with Marvell Technology (MRVL) being the largest holding at approximately 1.8%. The presence of several smaller-cap names like BE and RKLB adds to the portfolio's concentration risk, making it susceptible to idiosyncratic events affecting these individual companies. A macro environment characterized by rising interest rates or economic downturn may be unfavorable for this portfolio due to its valuation posture and sector exposures.

Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-06-12 07:28:11.22899+00

🔍 Theme Alignment Audit

AI GeneratedPurity: 15/100

The investment theme implied by the ticker VXF is a broad exposure to the Vanguard Extended Market Index, which excludes large-cap stocks from the S&P 500. However, the actual top holdings list reveals significant deviations that challenge this thematic definition. Several positions in the top ten, such as MSTR and FLEX labeled with no specific sector classification alongside names like BE and LNG, appear inconsistent with a strict "extended market" or small-cap focused narrative often associated with such tickers. Furthermore, the presence of these large-cap entities suggests the fund may be utilizing broad-market names to stabilize returns rather than maintaining a pure thematic focus on smaller companies as the name implies.

Sector coherence presents another area where the fund diverges from its implied strategy. While Technology and Industrials dominate the top holdings list individually, their combined weight in the total portfolio is relatively low compared to what one might expect for a technology-heavy or industrially focused extended market theme. The sector breakdown shows a highly diversified allocation across ten categories, with no single industry holding substantial sway beyond 7.6%. This distribution indicates that while the fund avoids mega-cap names from the S&P 500, it does not achieve high concentration in any specific thematic niche either. Consequently, the portfolio appears more representative of a broad non-large-cap index than a distinctively themed investment vehicle, offering limited differentiation from standard market benchmarks despite its unique classification.

AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-19 20:19:48.56885+00

🏢 Sector Analysis

AI Generated

The sector allocation of VXF reveals a distinct structural divergence from the broader market, characterized by an intentional underweighting in growth-oriented sectors and a heavy tilt toward small-cap value characteristics. With Technology comprising only 7.6% and Industrials at 7.1%, these categories represent significantly lower exposures than typically found in large-cap benchmarks, suggesting the fund's thesis prioritizes smaller enterprises that may be less dominant within their respective industries or have yet to achieve massive scale. The substantial underrepresentation of Consumer Cyclical (2.9%), Healthcare (2.9%), and Communication Services (0.8%) further indicates a deliberate avoidance of sectors often associated with high-beta growth trajectories, reinforcing the fund's focus on niche small-cap opportunities rather than established market leaders.

This concentration profile introduces specific risk factors related to sector volatility and liquidity within smaller segments. The minimal presence in Utilities (0.1%), Consumer Defensive (0.6%), and Real Estate (2.2%) implies a lack of defensive hedging against economic downturns, as the portfolio relies heavily on cyclical or discretionary small-cap stocks that may be more sensitive to macroeconomic headwinds. Furthermore, while the Top-5 holdings account for only 7.5% of assets, indicating broad diversification across individual names, the sector weights themselves create a concentrated exposure to specific sub-markets where data availability and liquidity can vary widely compared to large-cap peers. The dominance of Industrials and Technology in the top holdings relative to their overall low percentages suggests that within these underweighted sectors, the fund is selecting highly active or emerging small-cap players rather than avoiding them entirely. Ultimately, this structure reflects an investment strategy designed for investors seeking exposure to smaller companies while accepting reduced representation from traditional defensive and large-scale growth pillars.

AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 12:38:44.539012+00

Flow Driver Analysis

2-Step Circle

Which larger ETFs share VXF's holdings — and mechanically drive its price through index rebalancing flows?

Approximately 100% of VXF's weight flows through these larger ETFs

Driver ETF	AUM	Expense	Shared Stocks	Weight Overlap
VBVB	$170B	—	382	50.9%
ONEOONEO	$25M	—	304	46.9%
SPTMSPTM	$12B	—	381	43.9%
SPMDSPMD	$16B	—	295	37.0%
MDYMDY	$24B	—	294	36.9%

51% of VXF's portfolio by weight is also held by VB, which commands 2× more assets under management. When VB receives inflows, it mechanically buys these shared stocks — dragging VXF's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofVXF's weight.

Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.

ETF Look-Through Dashboard

Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.

25.1x

Weighted P/E

Harmonic weighted-average P/E across constituents. Excludes negative earnings. Resistant to outlier distortion.

8.47x

Weighted P/B

Weighted-average price-to-book ratio of constituent holdings.

$24B

Wtd Avg Market Cap

Weighted metrics calculated based on 68% of fund assets with available data.

Herfindahl-Hirschman Concentration Index

Well Diversified

Top 5: 5.7%Top 10: 8.6%

Morningstar-Style Box

Value

Blend

Growth

Large

Mid

Small

Mid Growth

Sector & Cap Explorer

Visualization Mode

ETF Fundamental Radar

Total Analysis

43% Weight

Market Cap

Large

Risk Profile

Moderate

Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.

Piotroski F-Score (Operational Health)

Score 0-9: Measures Profitability, Leverage, and Efficiency

↑ Weight (%)100%80%60%40%20%

0–3 Weak

26%

4–6 Average

13%

7–9 Strong

Based on 43% of fund weight with Piotroski data.

Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.

Dividend Safety True-Up

Deterministic

55%

Wtd FCF Payout Ratio

0.84%

TTM Yield

Safe

Dividend Durability

55% of FCF

0% (retains all cash)50%100% (pays out everything)

The dividend-paying companies inside VXF collectively pay out 55% of their Free Cash Flow to maintain the current yield. This is a sustainable payout level with moderate room for dividend growth. Based on 13% of fund weight in dividend-paying stocks.

FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.

Earnings vs. Price Decomposition

Proprietary

+30.1%

ETF 1Y Return

+32.6%

Wtd Earnings Growth

-2.5%

Multiple Contraction

Earnings

VXF is up 30.1% over the last 12 months. The underlying weighted earnings growth of its constituents is +32.6%. Despite earnings growth, valuations have contracted by 2.5% — the market is paying less per dollar of earnings than a year ago.

Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 40% of fund weight with earnings data. Not investment advice.

Value Creation Map

ROIC vs WACC

What percentage of VXF's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?

76% Destroyers

Value Creators (ROIC > WACC)7.3%

Value Destroyers23.6%

Of VXF's analyzed weight, 24% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 76% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.

ROIC-WACC spread for 31% of fund weight with available data. Not investment advice.

Passive Crowding Score

MODERATE

How much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.

Wtd Avg Passive Ownership9.4%

Most Crowded HoldingSANM (27.2%)

Least CrowdedCPNG (0.8%)

Coverage28% of fund weight

0 — Low255075100 — Extreme

VXF has a Passive Crowding Score of 31/100. On average, 9.4% of the market capitalization of VXF's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.

Passive $ = Σ(ETF AUM × holding weight) across all 16 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.

Under the Hood — Top 15 Constituents

Top 10 Concentration8.6%

#	Ticker	Company	Weight	P/E	F-Score
1	MRVL	Marvell Technology Inc. Technology	2.11%	96.1x	8/9
2	SNOW	Snowflake Inc. Technology	1.03%	—	5/9
3	NET	Cloudflare Inc. Class A Technology	0.90%	—	4/9
4	BE	Bloom Energy Corp. Class A Industrials	0.87%	—	4/9
5	RKLB	Rocket Lab Corp. Industrials	0.80%	—	5/9
6	FLEX	Flex Ltd.	0.65%	64.0x	6/9
7	MSTR	MicroStrategy Inc. Class A	0.59%	—	—
8	LNG	Cheniere Energy Inc. Energy	0.57%	40.8x	7/9
9	ALAB	Astera Labs Inc. Technology	0.54%	249.8x	5/9
10	FERG	Ferguson Enterprises Inc./DE Industrials	0.52%	22.6x	—
11	ALNY	Alnylam Pharmaceuticals Inc. Healthcare	0.47%	70.9x	6/9
12	CRDO	Credo Technology Group Holding Ltd. Technology	0.44%	137.1x	7/9
13	RBLX	ROBLOX Corp. Communication Services	0.37%	—	6/9
14	NTRA	Natera Inc. Healthcare	0.36%	—	4/9
15	RVMD	Revolution Medicines Inc.	0.36%	—	—

The bottom 485 stocks in VXF account for only 89.4% of the total fund weight.Only the top 50 holdings are shown. Total holdings: 500.

Historical Holdings Snapshots

Browse how VXF’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.

2026-06-15

15 holdings · 10.6% tracked weight

#	Ticker	Weight	Shares	Market Value
1	MRVL	2.11%	9,860,620	$2.0B
2	SNOW	1.03%	3,870,383	$989.1M
3	NET	0.90%	3,588,924	$867.9M
4	BE	0.87%	2,919,183	$832.0M
5	RKLB	0.80%	5,316,382	$762.8M
6	FLEX	0.65%	4,158,149	$627.0M
7	MSTR	0.59%	3,545,076	$564.0M
8	LNG	0.57%	2,433,953	$547.3M
9	ALAB	0.54%	1,501,617	$514.8M
10	FERG	0.52%	2,211,230	$499.7M
11	ALNY	0.47%	1,499,836	$452.9M
12	CRDO	0.44%	1,797,787	$424.3M
13	RBLX	0.37%	7,483,339	$352.8M
14	RVMD	0.36%	2,219,073	$349.5M
15	NTRA	0.36%	1,564,326	$349.4M

2026-06-14

15 holdings · 9.3% tracked weight

#	Ticker	Weight	Shares	Market Value
1	MRVL	1.77%	9,842,829	$1.6B
2	BE	0.90%	2,913,981	$825.7M
3	NET	0.80%	3,582,610	$734.3M
4	LNG	0.73%	2,429,351	$668.0M
5	MSTR	0.64%	3,539,218	$585.6M
6	FERG	0.64%	2,207,360	$590.9M
7	SNOW	0.57%	3,863,913	$527.3M
8	ALNY	0.50%	1,497,357	$463.4M
9	RKLB	0.48%	5,307,266	$437.9M
10	RBLX	0.45%	7,470,647	$412.8M
11	FLEX	0.41%	4,152,221	$380.1M
12	FTI	0.38%	4,564,374	$344.9M
13	INSM	0.36%	2,408,249	$328.3M
14	NTRA	0.35%	1,561,923	$322.0M
15	RVMD	0.35%	2,215,405	$319.3M

2026-06-13

15 holdings · 9.3% tracked weight

#	Ticker	Weight	Shares	Market Value
1	MRVL	1.77%	9,842,829	$1.6B
2	BE	0.90%	2,913,981	$825.7M
3	NET	0.80%	3,582,610	$734.3M
4	LNG	0.73%	2,429,351	$668.0M
5	MSTR	0.64%	3,539,218	$585.6M
6	FERG	0.64%	2,207,360	$590.9M
7	SNOW	0.57%	3,863,913	$527.3M
8	ALNY	0.50%	1,497,357	$463.4M
9	RKLB	0.48%	5,307,266	$437.9M
10	RBLX	0.45%	7,470,647	$412.8M
11	FLEX	0.41%	4,152,221	$380.1M
12	FTI	0.38%	4,564,374	$344.9M
13	INSM	0.36%	2,408,249	$328.3M
14	NTRA	0.35%	1,561,923	$322.0M
15	RVMD	0.35%	2,215,405	$319.3M

2026-06-12

15 holdings · 9.3% tracked weight

#	Ticker	Weight	Shares	Market Value
1	MRVL	1.77%	9,842,829	$1.6B
2	BE	0.90%	2,913,981	$825.7M
3	NET	0.80%	3,582,610	$734.3M
4	LNG	0.73%	2,429,351	$668.0M
5	MSTR	0.64%	3,539,218	$585.6M
6	FERG	0.64%	2,207,360	$590.9M
7	SNOW	0.57%	3,863,913	$527.3M
8	ALNY	0.50%	1,497,357	$463.4M
9	RKLB	0.48%	5,307,266	$437.9M
10	RBLX	0.45%	7,470,647	$412.8M
11	FLEX	0.41%	4,152,221	$380.1M
12	FTI	0.38%	4,564,374	$344.9M
13	INSM	0.36%	2,408,249	$328.3M
14	RVMD	0.35%	2,215,405	$319.3M
15	NTRA	0.35%	1,561,923	$322.0M

2026-05-24

15 holdings · 9.3% tracked weight

#	Ticker	Weight	Shares	Market Value
1	MRVL	1.77%	9,842,829	$1.6B
2	BE	0.90%	2,913,981	$825.7M
3	NET	0.80%	3,582,610	$734.3M
4	LNG	0.73%	2,429,351	$668.0M
5	MSTR	0.64%	3,539,218	$585.6M
6	FERG	0.64%	2,207,360	$590.9M
7	SNOW	0.57%	3,863,913	$527.3M
8	ALNY	0.50%	1,497,357	$463.4M
9	RKLB	0.48%	5,307,266	$437.9M
10	RBLX	0.45%	7,470,647	$412.8M
11	FLEX	0.41%	4,152,221	$380.1M
12	FTI	0.38%	4,564,374	$344.9M
13	INSM	0.36%	2,408,249	$328.3M
14	NTRA	0.35%	1,561,923	$322.0M
15	RVMD	0.35%	2,215,405	$319.3M

2026-05-23

15 holdings · 9.3% tracked weight

#	Ticker	Weight	Shares	Market Value
1	MRVL	1.77%	9,842,829	$1.6B
2	BE	0.90%	2,913,981	$825.7M
3	NET	0.80%	3,582,610	$734.3M
4	LNG	0.73%	2,429,351	$668.0M
5	FERG	0.64%	2,207,360	$590.9M
6	MSTR	0.64%	3,539,218	$585.6M
7	SNOW	0.57%	3,863,913	$527.3M
8	ALNY	0.50%	1,497,357	$463.4M
9	RKLB	0.48%	5,307,266	$437.9M
10	RBLX	0.45%	7,470,647	$412.8M
11	FLEX	0.41%	4,152,221	$380.1M
12	FTI	0.38%	4,564,374	$344.9M
13	INSM	0.36%	2,408,249	$328.3M
14	NTRA	0.35%	1,561,923	$322.0M
15	RVMD	0.35%	2,215,405	$319.3M

Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.

Risk Profile

22.2%

Annual Volatility

1.19

Sharpe (1Y)

0.74

Sharpe (3Y)

-26.9%

Max Drawdown (3Y)

-36.4%

Max Drawdown (5Y)

Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.

Price Chart with Moving Averages

Loading chart...

What Drove VXF Today?

Daily return attribution — which holdings contributed most (and least) to the fund's move.

Fund move:+0.44%(2026-06-12)

Top Contributors

ROKU

+0.040%

CRWV

+0.016%

Top Detractors

SNOW

-0.033%

ASTS

-0.051%

RKLB

-0.086%

Attribution = holding weight × stock daily return. Only the top contributors and detractors are shown.

Underwater (Drawdown from Peak)

How far below the all-time high the price has been over time. Deeper = more pain for holders.

Loading drawdown chart...

Rolling 60-Day Beta vs S&P 500 (VOO)

How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.

Loading beta chart...

Rolling Beta Market (β = 1.0)

Yield & Income

0.84%

TTM Yield

—

30-Day SEC Yield

—

5Y Div CAGR

Sector Drift Over Time

How VXF’s sector allocation has shifted across snapshots. Use the slider to travel through time.

Other53.5%

Technology13.9%

Industrials10.6%

Healthcare4.5%

Financial Services3.9%

Consumer Cyclical3.8%

Real Estate3.1%

Basic Materials2.6%

Energy2.3%

Communication Services1.0%

Consumer Defensive0.7%

Utilities0.2%

Change since 2026-03-30

Technology

+3.1%

Industrials

-1.6%

Consumer Cyclical

-1.3%

Other

+0.7%

Communication Services

-0.4%

Consumer Defensive

-0.3%

2026-03-302026-06-15

Active Conviction Tracker

Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.

Comparing 2026-06-14 → 2026-06-15•49 buys, 11 sells

Positions Increased (49)

NEWRPRX

0 → 4.3M+4.3M

0.25%(+0.25)

NEWIONQ

0 → 4.0M+4.0M

0.30%(+0.30)

NEWP

0 → 3.5M+3.5M

0.29%(+0.29)

NEWAFRM

0 → 3.3M+3.3M

0.25%(+0.25)

NEWASTS

0 → 2.8M+2.8M

0.33%(+0.33)

NEWOKTA

0 → 1.9M+1.9M

0.25%(+0.25)

NEWNXT

0 → 1.7M+1.7M

0.27%(+0.27)

NEWRDDT

0 → 1.5M+1.5M

0.27%(+0.27)

Positions Decreased (11)

EXITPSTG

3.5M → 0-3.5M (-100.0%)

0.00%(-0.28)

EXITUSFD

2.5M → 0-2.5M (-100.0%)

0.00%(-0.25)

EXITRBA

2.1M → 0-2.1M (-100.0%)

0.00%(-0.24)

EXITFLUT

2.0M → 0-2.0M (-100.0%)

0.00%(-0.23)

EXITVEEV

1.7M → 0-1.7M (-100.0%)

0.00%(-0.29)

EXITBWXT

1.0M → 0-1.0M (-100.0%)

0.00%(-0.24)

EXITBURL

702K → 0-702K (-100.0%)

0.00%(-0.24)

EXITRS

590K → 0-590K (-100.0%)

0.00%(-0.23)

Explore More

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Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-12.

SecuritiesDB is for informational purposes only. Not investment advice.