Exchange-traded funds (ETFs)

For the 10-year period ended March 31, 2025, 48 of 52 Vanguard stock ETFs and 8 of 15 Vanguard bond ETFs—for a total of 56 of 67 Vanguard ETFs—outperformed their Lipper peer-group averages. Results will vary for other time periods. Only ETFs with a minimum 10-year history were included in the comparison. Source: LSEG Lipper. The competitive performance data shown represent past performance, which is not a guarantee of future results. View ETF performance.

Source: Morningstar, Inc., as of December 31, 2023.

Vanguard average ETF expense ratio: 0.05%. Industry average ETF expense ratio: 0.22%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2024.

Source: The Karn Group. Includes market orders entered from January 2024 through August 2024, during market hours with share sizes from 1 to 1,999. Excludes orders received during locked, crossed, or fast markets or during destination outages.

Vanguard received top ratings for "#1 Most Trusted Financial Companies – ETF/Fund Companies" in 2022 among 11 ETF and fund companies selected by Investor's Business Daily (IBD). In partnership with TechnoMetrica, IBD conducted 2 independent polls and surveyed more than 6,500 consumers in June and July 2022. The survey was copresented by IBD's sister company, MarketWatch. After 2 research phases, IBD computed the component scores by taking the difference between the percentage of respondents who gave a very high or high rating and the percentage who gave a low or very low rating to the following attributes and corresponding weightings: quality of products/services (19.09%), ethical business practices and values (16.97%), privacy and security of personal data (16.32%), customer service (16.2%), fair prices and fees (14.15%), company responsiveness to customer needs (12.32%), and innovation of processes/offerings (4.95%). Additional details about IBD's methodology are available on their website. Although Vanguard compensates IBD for marketing services, IBD's opinions and evaluations are independent and unrelated to the selection for this award.

Commission-free trading of Vanguard ETFs applies to trades placed online; most clients will pay a commission to buy or sell Vanguard ETFs 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. 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. 

All investing is subject to risk, including the possible loss of the money you invest.

Diversification does not ensure a profit or protect against a loss.

For more information about Vanguard mutual funds or Vanguard ETFs, obtain a mutual fund or an ETF prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.

Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.

You must buy and sell Vanguard ETF Shares through Vanguard Brokerage Services (we offer them commission-free online) or through another broker (who 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. 

Bond funds are subject to the risk that an issuer will fail to make payments on time, and that bond prices will decline because of rising interest rates or negative perceptions of an issuer's ability to make payments.

ESG funds are subject to ESG investment risk, which is the chance that the stocks or bonds screened by the index provider or advisor, as applicable, for ESG criteria generally will underperform the market as a whole or, in the aggregate, will trail returns of other funds screened for ESG criteria. The index provider or advisor's assessment of a company, based on the company's level of involvement in a particular industry or their own ESG criteria, may differ from that of other funds or an investor's assessment of such company. As a result, the companies deemed eligible by the index provider or advisor may not reflect the beliefs and values of any particular investor and may not exhibit positive or favorable ESG characteristics. The evaluation of companies for ESG screening or integration is dependent on the timely and accurate reporting of ESG data by the companies. Successful application of the screens will depend on the index provider or advisor's proper identification and analysis of ESG data. The advisor may not be successful in assessing and identifying companies that have or will have a positive impact or support a given position. In some circumstances, companies could ultimately have a negative or no impact or support of a given position.

Vanguard's advice services are provided by Vanguard Advisers, Inc. ("VAI"), a registered investment advisor, or by Vanguard National Trust Company ("VNTC"), a federally chartered, limited-purpose trust company.

The services provided to clients will vary based upon the service selected, including management, fees, eligibility, and access to an advisor. Find VAI's Form CRS and each program's advisory brochure here for an overview.

VAI and VNTC are subsidiaries of The Vanguard Group, Inc., and affiliates of Vanguard Marketing Corporation. Neither VAI, VNTC, nor its affiliates guarantee profits or protection from losses.