It's a nickname that was coined by independent experts as a way to describe a game of "follow the leader" that started more than 40 years ago.
Our passion for low-cost investing was—and will always be—one of our driving forces. When others take notice and expense ratios fall more broadly, every investor wins!
All averages are asset-weighted. Industry averages exclude Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2019.
No one wants to pay more than they have to—for anything. That's the foundation for Vanguard's existence, so it's as natural to us as it is to you.
Every penny you save on expenses is a penny that stays in your pocket—where it belongs.
Independent research confirms that, on average, lower-cost funds outperform higher-cost funds.
Vanguard (the company) is owned by the Vanguard funds—which are, in turn, owned by you as a fund shareholder. There are no outside owners, so there are no conflicting loyalties.
You pay only what it costs us to run your fund and to continuously improve the service we provide to you.
When you combine low costs with a goal-oriented, balanced, and disciplined approach to investing, you can feel more confident that you're on the path to long-term success.
Here's how asset-weighted average expense ratios have changed over time for both Vanguard and the broader investment industry.
0.68%
0.73%
0.61%
0.64%
0.61%
0.64%
0.62%
0.68%
0.58%
0.69%
0.59%
0.68%
0.59%
0.62%
0.61%
0.65%
0.60%
0.74%
0.54%
0.76%
0.50%
0.77%
0.46%
0.77%
0.40%
0.85%
0.40%
0.87%
0.35%
0.88%
0.35%
0.86%
0.32%
0.86%
0.31%
0.84%
0.30%
0.80%
0.30%
0.84%
0.31%
0.82%
0.29%
0.79%
0.28%
0.77%
0.28%
0.77%
0.27%
0.78%
0.27%
0.81%
0.27%
0.74%
0.26%
0.74%
0.25%
0.78%
0.22%
0.81%
0.22%
0.78%
0.21%
0.77%
0.18%
0.75%
0.19%
0.69%
0.21%
0.65%
0.19%
0.65%
0.17%
0.65%
0.15%
0.64%
0.14%
0.63%
0.14%
0.63%
0.13%
0.61%
0.12%
0.62%
0.11%
0.52%
0.10%
0.58%
0.10%
0.57%
Sources: Vanguard and Morningstar, Inc.