If you've been stuck searching for Index funds, consider Vanguard Small-Cap Growth Index Admiral (VSGAX) as a possibility. The fund does not have a Zacks Mutual Fund Rank, though we have been able to explore other metrics like performance, volatility, and cost.History of Fund/ManagerVanguard Group is based in Malvern, PA, and is the manager of VSGAX. Vanguard Small-Cap Growth Index Admiral debuted in September of 2011. Since then, VSGAX has accumulated assets of about $16.82 billion, according to the most recently available information. Gerard O'Reilly is the fund's current manager and has held that role since September of 2011.PerformanceOf course, investors look for strong performance in funds. VSGAX has a 5-year annualized total return of 19.05% and is in the middle third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 19.39%, which places it in the middle third during this time-frame.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. VSGAX's standard deviation over the past three years is 24.17% compared to the category average of 18.4%. The fund's standard deviation over the past 5 years is 19.38% compared to the category average of 15.25%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. VSGAX has a 5-year beta of 1.17, which means it is likely to be more volatile than the market average. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. With a positive alpha of 0.57, managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.HoldingsExploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is largely on equities that are traded in the United States.Right now, 75.09% of this mutual fund's holdings are stocks, with an average market capitalization of $8.33 billion. The fund has the heaviest exposure to the following market sectors: Technology Health Other Turnover is 24%, which means this fund makes fewer trades than the average comparable fund.ExpensesCosts are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, VSGAX is a no load fund. It has an expense ratio of 0.07% compared to the category average of 0.80%. So, VSGAX is actually cheaper than its peers from a cost perspective.This fund requires a minimum initial investment of $3,000, and each subsequent investment should be at least $1.Bottom LineThis could just be the start of your research on VSGAXin the Index category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (VSGAX): Fund Analysis Report To read this article on Zacks.com click here. Zacks Investment Research