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Vanguard Brokerage Services® commission & fee schedules

Enjoy competitive commissions on all your trades. Better yet, find out how often you'll pay no commission at all!

As of January 22, 2019

Vanguard ETFs® (exchange-traded funds)

All Vanguard ETFs—more than 75 of them—are always commission-free

It doesn't matter how much money you have in your Vanguard Brokerage Account or whether you trade online or by phone.

ETFs from other companies

Get commission-free online trading on around 1,800 ETFs from about 100 other companies.


ASSETS INVESTED IN VANGUARD
ETFs & MUTUAL FUNDS

Less than $50,000
(Standard)²

ONLINE

$0

BY PHONE

$25 per trade


ASSETS INVESTED IN VANGUARD
ETFs & MUTUAL FUNDS

$50,000 to $500,000
(Voyager Services®)

ONLINE

$0

BY PHONE

$25 per trade


ASSETS INVESTED IN VANGUARD
ETFs & MUTUAL FUNDS

$500,000 to $1 million
(Voyager Select Services®)

ONLINE

$0

BY PHONE

$20 per trade


ASSETS INVESTED IN VANGUARD
ETFs & MUTUAL FUNDS

$1 million to $5 million
(Flagship Services®)

ONLINE

$0

BY PHONE

$0 for first 25 trades³;
$2 thereafter


ASSETS INVESTED IN VANGUARD
ETFs & MUTUAL FUNDS

$5 million or more
(Flagship Select Services®)

ONLINE

$0

BY PHONE

$0 for first 100 trades³;
$2 thereafter

On January 22, 2019, Vanguard Brokerage stopped accepting purchases in leveraged and inverse mutual funds, ETFs (exchange-traded funds), and ETNs (exchange-traded notes). These products, which are speculative in nature, run counter to our investors' focus on the long term. If you already own these investments, you can continue to hold them or choose to sell them. If you choose to sell them, you'll have to pay a commission. You can also transfer them in kind from or to other institutions. For leveraged and inverse ETFs, please refer to the Stocks commission schedule.

REFERENCE CONTENT

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Other conditions & costs that may apply

Commission-free trading of Vanguard ETFs applies to trades placed both online and by phone. Commission-free trading of non-Vanguard ETFs applies only to trades placed online; most clients will pay a commission to buy or sell non-Vanguard ETFs by phone. It also excludes leveraged and inverse ETFs, which can't be purchased through Vanguard Brokerage but can be sold with a commission. Commission-free trading of non-Vanguard ETFs also excludes 401(k) participants using the Self-Directed Brokerage Option; see your plan's current commission schedule. Vanguard Brokerage reserves the right to change the non-Vanguard ETFs included in these offers at any time. All ETFs are subject to management fees and expenses; refer to each ETF's prospectus for more information. Account service fees may also apply. All ETF sales are subject to a securities transaction fee. See the Vanguard Brokerage Services commission and fee schedules for full details.