Your power move? Choosing low costs and consistency

Since February 1, 2025, our expense ratio reductions are on track to deliver more than half a billion dollars to investors—the largest period of cost savings in our history.¹ In 2026 alone, Vanguard expects to deliver nearly $250 million² in savings, once again setting the standard for low-cost, high-performing funds for investors. Our 0.06% asset-weighted average expense ratio³ ranks among the lowest in the industry.

These aren’t isolated events. They’re milestones in a much longer story—and your commitment to low costs and consistency is part of that progress. 

A legacy shaped by investors, sustained by design

Lowering costs is not a onetime initiative. It's a decades-long tradition made possible by our investor-owned structure: The funds own Vanguard, and investors own the funds.⁴ Whether you're saving for retirement, managing a pension, or building long-term wealth, you deserve to keep more of what you earn. Lower expenses mean more of your returns stay at work and can compound overtime and across market cycles. 

Cost reductions designed to support long-term outcomes

The 2026 updates apply to 84 mutual fund and ETF share classes across 53 funds, spanning equity, fixed income, and multi-asset solutions. These reductions are implemented where they can have the greatest long-term impact—because you benefit when costs stay low consistently.

Fixed income: Efficiency where it matters most

In fixed income, even small cost differences can shape outcomes over time. For investors focused on consistency, this efficiency is essential. With the 2026 reductions, 89% of Vanguard fixed income ETFs now rank in the lowest-cost deciles of their peer groups, and 100% of active fixed income ETFs remain priced in the lowest-cost decile.⁵

Equity: Strengthening core strategies

The latest updates reach across U.S. and international equity strategies, covering large-, mid-, and small-cap funds. Lower costs across core strategies like Vanguard Growth, Vanguard Value, FTSE Emerging Markets, Vanguard Dividend Appreciation, and Vanguard High Dividend Yield mean more of your returns stay working for you. With the 2026 reductions, 83% of Vanguard equity ETFs now rank in the lowest-cost deciles of their peer groups.⁵

Why lower costs matter over decades

Did you know that your demand for value has helped lower costs for all investors across the industry? For more than 50 years, Vanguard has set the standard for driving down the cost of investing, lowering expense ratios more than 2,100 times. This influence—"the Vanguard effect®"—is what happens when investors choose differently.

At Vanguard, lowering costs is part of who we are, and we hope to continue doing so as we serve investors today and in the future.