VBR

The Vanguard Morningstar Small‑Cap Value ETF (VBR) invests in equity securities of small‑capitalization U.S. companies that exhibit value characteristics, spanning sectors such as financials, industrials, consumer discretionary, technology, real estate and healthcare. It follows a passively managed, full‑replication strategy that seeks to track the Morningstar (or CRSP) U.S. Small‑Cap Value Index by holding the index’s constituents in approximately the same proportions. This approach provides diversified exposure to domestic small‑cap value stocks, which tend to be lower‑priced and may offer higher dividend yields relative to growth counterparts. The fund is suitable for long‑term investors who want a low‑cost, value‑tilted small‑cap exposure as part of a broader, diversified portfolio.