Vanguard Capital ValueVCVLX

Morningstar Rating

Fund Research and Analysis

by Dan Culloton

Vanguard Capital Value isn't the fund you think it is anymore.

This fund posted eye-popping returns of more than 82% this year through Dec. 22 behind the take-no-prisoners contrarian style of manager Peter Higgins. But perhaps it was too good for its Read more

Kudos

New manager posted strong results at prior funds.

Small asset base should help the fund remain nimble.

Low expense ratio.

Explosive performance in equity rallies. Read more

Risks

New managers.

Streaky track record.

Volatile.

Very high turnover.

Could be hard to own. Read more

Strategy

This fund's still relatively new manager, Peter I. Higgins, is value-oriented but not doctrinaire. At previous fund-management jobs, he has liked stocks that looked cheap by conventional measures such Read more

Management

Peter I. Higgins of Wellington Management has been with Wellington since 2005 and this fund since June 2008. He put up impressive numbers in 10 years at Dreyfus Premier Midcap Value, which he ran roughly from October 1995 to September 2005. Higgins Read more

Inside Scoop

This fund uses the same deep-value strategy as successful behemoth Vanguard Windsor. Its small asset base gives it the nimbleness to invest in smaller-cap stocks. Read more

First Name

Last Name

Email Address

Zip Code

Create Password

Verify Password

(6-15 characters; case sensitive)

What is your occupation or job title?

Select...

Your registration indicates agreement to the terms of use.

Dodge & Cox: Health Care Now More Attractive
Watch more