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Low-cost, no-load funds are just the start

Get the most for your money: low costs, diligent fund management, and exceptional service.

What you can expect from Vanguard no-load mutual funds

We keep your investing costs low

The average Vanguard mutual fund expense ratio is 83% less than the industry average.*

What does that mean for you? When less is taken out of your funds' earnings to cover expenses, more stays in your account—where it belongs.

We have a track record of competitive long-term performance

85% of Vanguard no-load mutual funds performed better than their peer-group averages over the past 10 years.**

We hire top mutual fund managers

If you're looking for index funds, look no further. As the company that launched the first index fund for individual investors, we have expert fund managers with decades of experience. Our Equity Investment and Fixed Income Groups have the experience and expertise you'd expect from the company that pioneered index investing.

You can also check out our wide selection of actively managed funds. We complement our in-house teams with portfolio managers from around the world, who embrace our values and long-term perspective. These managers are rigorously selected for their experience, expertise, and data-driven processes that promote sound decision-making.

Want an outside opinion?

Money magazine named 23 Vanguard funds on its "Money 50" list.

What you can expect every day as a Vanguard client

The help you need, when you need it

Whether you're handling day-to-day account management tasks or taking an in-depth look at your portfolio, you can count on the high-quality service you'd expect from an industry leader.

Opportunities for higher levels of personal attention

As your account grows, you can look forward to decreasing costs and increasing levels of personalization and advice.

All the investment flexibility you want

Interested in expanding your portfolio beyond Vanguard mutual funds? With a Vanguard Brokerage Account, you can choose from more than 60 Vanguard ETFs® (exchange-traded funds), gain access to thousands of non-Vanguard mutual funds and ETFs, or complement your portfolio with individual stocks, bonds, and certificates of deposit (CDs).

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REFERENCE CONTENT

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Expense ratio

A mutual fund's annual operating expenses, expressed as a percentage of the fund's average net assets. It's calculated annually and removed from the fund's earnings before they're distributed to investors, directly reducing investors' returns.

An expense ratio includes management, administrative, marketing, and distribution fees. It doesn't include loads or purchase or redemption fees.

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Earnings

Revenue for a specified period of time, after related costs and expenses have been deducted.

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No-load mutual fund

A fund that charges no sales fees either on the front end (when you buy fund shares) or back end (when you sell fund shares).

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Index fund

A type of mutual fund that tries to match the performance of a specific index (sometimes referred to as a "benchmark") by buying and holding all or a representative sample of the securities in the index, in the same proportions as their weightings in the index.

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Actively managed fund

A fund that seeks to outperform the average returns of a particular market index (sometimes referred to as a "benchmark"). Active managers rely on research, market forecasts, and their own judgment and experience in selecting securities to buy and sell.

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Portfolio

The sum total of all your investments.

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ETF (exchange-traded fund)

A type of investment with characteristics of both mutual funds and individual stocks. ETFs are professionally managed and typically diversified, like mutual funds, but they can be bought and sold at any point during the trading day.

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Stock

Usually refers to common stock, which is an investment that represents part ownership in a corporation. Each share of stock is a proportional stake in the corporation's assets and profits.

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Bond

A bond represents a loan made to a corporation or government in exchange for regular interest payments. The bond issuer agrees to pay back the loan by specific date.

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Certificate of deposit (CD)

An insured, interest-bearing deposit that requires the depositor to keep the money invested for a specific period of time or face penalties.