Vanguard Group can now boast it manages the first $1 trillion stock fund.
The Vanguard Total Stock Market Index Fund had $1 trillion in assets as of Nov. 30, according to company data.
Launched in 1992, the index fund provides access to the entire U.S. equity market, encompassing small-cap, midcap and large-cap growth and value stocks. At the end of that year, the fund had $512 million in assets.
The fund has been benchmarked to the CRSP U.S. Total Market index since June 2013 when the benchmark changed from the MSCI U.S. Broad Market Index and returned 19.16% for the year ended Nov. 30, 2 basis points above the index.
Since inception, the Vanguard Total Stock Market Index Fund returned a cumulative 567.8% as of Nov. 30.
Vanguard Group said in a statement: “We take very seriously our responsibility as stewards of our clients’ investments and are grateful that investors continue to entrust their assets to Vanguard. At Vanguard, growth is an outcome, not a goal. We are pleased that Vanguard Total Stock Market Index Fund’s combination of low costs, broad diversification, low turnover, tax-efficiency and simplicity has brought value to investors worldwide.”