Vanguard U.S. Multifactor Fund (VFMF) Performance
VFMF total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +25.8% since Dec 31, 2025
- 1 year
- +31.8% total return
- 5 years
- +14.3% a year
- Since first price
- +12.7% a year since 2018
VFMF trailing returns vs SPY, QQQ, AGG
| Period | VFMF total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.6% | +3.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +4.6% | +4.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +13.7% | +12.9% | +7.8% | +8.4% | −1.5% |
| YTD | +25.8% | +24.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +31.8% | +29.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +98.2%+25.6%/yr | +88.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +95.0%+14.3%/yr | +77.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionFeb 15, 2018 | +182.8%+12.7%/yr | +143.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: VFMF vs SPY
From Feb 15, 2018: VFMF grew to $28,280, SPY to $31,785.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VFMF returns by calendar year
6 of 7 full years positive. Best 2021 (+30.1%), worst 2022 (−5.7%). 2026 is year to date.
VFMF annual returns table
| Year | VFMF | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +25.8% | −7.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +17.4% | −18.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +15.6% | −8.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.5% | −10.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −5.7% | −18.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +30.1% | −7.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +5.0% | −41.3% | +18.3% | +48.6% | +7.5% |
| 2019 | +22.3% | −8.1% | +31.2% | +39.0% | +8.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
VFMF largest drawdowns
Now 0.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 17, 2020 | −41.3% | Mar 23, 2020 | Dec 4, 2020 | 2 months | 11 months |
| Aug 29, 2018 | −23.6% | Dec 24, 2018 | Jan 16, 2020 | 4 months | 1.4 years |
| Nov 25, 2024 | −20.6% | Apr 8, 2025 | Aug 13, 2025 | 4 months | 9 months |
| Nov 16, 2021 | −19.1% | Sep 26, 2022 | Jul 13, 2023 | 10 months | 1.7 years |
| Aug 1, 2023 | −10.1% | Oct 27, 2023 | Dec 4, 2023 | 3 months | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
VFMF risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +22.0% | +14.5% | +12.3% |
| Volatility (annualized) | 14.6% | 17.2% | 18.5% |
| Sharpe ratio | 1.15 | 0.67 | 0.58 |
| Sortino ratio | 2.11 | 1.13 | 0.88 |
| Best month | +8.6% | +14.0% | +14.0% |
| Worst month | −6.9% | −10.5% | −18.7% |
| Best 12 months | +38.6% | +38.6% | +74.2% |
| Worst 12 months | +1.3% | −10.0% | −23.2% |
| Positive months | 64% | 57% | 60% |
| Beta vs S&P 500 | 0.89 | 0.93 | — |
| Correlation with S&P 500 | 0.76 | 0.84 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
VFMF rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 93 | −23.2% | +12.1% | +74.2% | 75% |
| 3-year (a year) | 69 | +7.0% | +12.4% | +25.9% | 100% |
| 5-year (a year) | 45 | +5.6% | +13.6% | +19.6% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
VFMF performance overview
Vanguard U.S. Multifactor Fund (VFMF) returned +31.8% over the past year and +14.3% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +12.7% a year, turning $10,000 into about $28,280. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −41.3%, from Jan 17, 2020 to Mar 23, 2020, and it took 8 months to get back to the old high. VFMF finished 6 of its 7 full calendar years with a gain; the best year was 2021 (+30.1%) and the worst 2022 (−5.7%). Volatility has been 18.5% a year.
Related: VFMF chart, VFMF holdings, VFMF dividends, VFMF valuation. See the VFMF overview for the latest quote and fund facts.
VFMF performance FAQ
What is the VFMF return over the past year?
VFMF returned +31.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 29.8%.
What is the average annual return of VFMF?
VFMF has returned +14.3% a year over 5 years, +12.7% a year since February 15, 2018 (total return, distributions reinvested).
How much would $10,000 invested in VFMF be worth?
$10,000 invested in VFMF at its first recorded close on February 15, 2018 would be worth about $28,280 on October 23, 2026 with distributions reinvested.
What was the worst year for VFMF?
The worst calendar year was 2022, with a total return of −5.7%. The best was 2021 at +30.1%.
What is the biggest drawdown of VFMF?
The largest peak-to-trough decline was −41.3% between January 17, 2020 and March 23, 2020. It recovered to the old high on December 4, 2020, 8 months after the bottom.
How volatile is VFMF?
Over the past 3 years VFMF had an annualized volatility of 14.6% and a Sharpe ratio of 1.15 (excess return over 1–3 month T-bills per unit of risk).