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Costs, fees & minimums

Investment costs

Expense ratios

The average Vanguard mutual fund and ETF (exchange-traded fund) expense ratio is 81% less than the industry average.*

Vanguard fund trading fees

Never pay a commission when you buy and sell Vanguard mutual funds and ETFs in your Vanguard account.

A few Vanguard mutual funds charge fees designed to help cover high transaction costs and discourage short-term trading.

Other trading costs

Enjoy low rates when you buy and sell non-Vanguard mutual funds and ETFs, stocks, CDs (certificates of deposit), and bonds in your Vanguard Brokerage Account.

Some trades can be as low as $2—or even commission-free.


Account & advice fees

Account service fee

A $20 annual fee applies to each of your brokerage and mutual-fund-only accounts.

SIMPLE IRAs, Individual 401(k)s, and Vanguard 529 Plan accounts have special account service fees.

Asset management fee

The annual fee for Vanguard Personal Advisor Services® is only 0.30% of assets under management.


Minimum investing requirements

Mutual funds

Most Vanguard mutual funds require a minimum investment of $3,000.**

But you can invest in any Vanguard Target Retirement Fund or in Vanguard STAR® Fund with as little as $1,000.

Minimums for non-Vanguard mutual funds vary by fund. Details are available in each fund profile.

ETFs

The minimum investment for all Vanguard and non-Vanguard ETFs is simply the price of one share.

Stocks, CDs & bonds

The minimum investment for individual securities is also the price of one share.

Buy and sell:

REFERENCE CONTENT

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Vanguard funds with purchase & redemption fees

Purchase fees are charged generally by funds that routinely face higher transaction costs when buying securities for the portfolio.

Redemption fees are charged generally by funds that want to discourage market-timing.

Neither is considered a sales charge or "load" because both are paid directly to the fund to offset higher transaction costs.

There are currently just a small number of Vanguard funds (each with multiple share classes) that charge one or both of these fees. Each has a corresponding exchange-traded fund (ETF) share class that excludes these fees and can be bought and sold in your Vanguard Brokerage Account commission-free.


PURCHASE FEE

0.25%

REDEMPTION FEE

None


PURCHASE FEE

0.25%

REDEMPTION FEE

None


PURCHASE FEE

1.00%

REDEMPTION FEE

None


PURCHASE FEE

1.00%

REDEMPTION FEE

None


PURCHASE FEE

0.25%

REDEMPTION FEE

None


PURCHASE FEE

0.25%

REDEMPTION FEE

None


PURCHASE FEE

0.75%

REDEMPTION FEE

None


PURCHASE FEE

0.75%

REDEMPTION FEE

None


PURCHASE FEE

0.75%

REDEMPTION FEE

None


PURCHASE FEE

0.25%

REDEMPTION FEE

0.25%


PURCHASE FEE

0.25%

REDEMPTION FEE

0.25%


PURCHASE FEE

0.25%

REDEMPTION FEE

0.25%


You must buy and sell Vanguard ETF Shares through Vanguard Brokerage Services (we offer them commission-free) or through another broker (which may charge commissions). See the Vanguard Brokerage Services commission and fee schedules for limits. Vanguard ETF Shares are not redeemable directly with the issuing fund other than in very large aggregations worth millions of dollars. ETFs are subject to market volatility. When buying or selling an ETF, you will pay or receive the current market price, which may be more or less than net asset value.