The Vanguard Large-Cap Index Fund ETF Shares (NYSE ARCA: VV) is an investment fund that aims to mirror the performance of the CRSP US Large Cap Index, a comprehensive index of large U.S. companies that make up around 85% of the U.S. market capitalization. This means the fund invests in a diverse range of established companies, providing broad exposure to the U.S. stock market.
To achieve this, the fund's advisor uses an indexing investment approach, which involves investing in all or nearly all of the stocks that comprise the CRSP US Large Cap Index. The fund holds each stock in roughly the same proportion as its weighting in the index, ensuring that the fund's performance closely tracks that of the underlying index.
As a non-diversified fund, the Vanguard Large-Cap Index Fund ETF Shares can invest a significant portion of its assets in a particular stock or sector, which may increase its risk profile. However, this approach also allows the fund to maintain a low operating expense ratio, making it an attractive option for investors seeking cost-effective exposure to the U.S. large-cap market.
The fund is managed by Vanguard, a well-established investment management company based in the United States. You can find more information about the fund and its investment approach on Vanguard's website at http://www.vanguard.com.