Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares

The Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares is a mutual fund designed to track the performance of the S&P MidCap 400 Value Index, which focuses on value-oriented, mid-sized U.S. companies. The fund selects its constituents based on value factors such as book-to-price, earnings-to-price, and sales-to-price ratios, targeting firms perceived to be undervalued relative to their fundamentals. Through a broadly diversified portfolio, it seeks to reflect the performance of medium-capitalization U.S. stocks exhibiting value characteristics across sectors including financial services, healthcare, real estate, consumer defensive, and technology. By employing a passively managed, indexing strategy, this fund offers institutional investors low costs and efficient exposure to mid-cap value equities, making it a valuable tool for diversification within broader equity allocations. Its sizable portfolio, annual dividend distribution, and low expense ratio reinforce its role as an efficient vehicle for capturing the performance of the mid-cap value segment in the U.S. equity market.