About Us

Costs, fees & minimums

See how Vanguard's low-cost approach can help you make the most of your money. You won't pay a commission to buy or sell Vanguard mutual funds and ETFs online.

Investment costs

Expense ratios

The average Vanguard mutual fund and ETF (exchange-traded fund) expense ratio is 82% less than the industry average.*

See the difference low-cost funds can make

Vanguard fund trading fees

You won't pay a commission to buy or sell Vanguard mutual funds and ETFs online in your Vanguard account.

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

Find out which mutual funds charge purchase & redemption fees

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 only a few Vanguard funds (each with multiple share classes) that charge one or both of these fees. Each has a corresponding ETF (exchange-traded fund) share class that excludes these fees and can be bought and sold commission-free in your Vanguard account.

 

Fund Name & Ticker Purchase Fee Redemption Fee

Emerging Markets Government Bond Index Fund Admiral™ Shares (VGAVX)

0.75%

None

Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX)

0.75%

None

Global ex-U.S. Real Estate Index Fund Admiral Shares (VGRLX)

0.25%

0.25%

Global ex-U.S. Real Estate Index Fund Institutional Shares (VGRNX)

0.25%

0.25%

Intermediate-Term Corporate Bond Index Fund Admiral Shares (VICSX)

0.25%

None

Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX)

0.25%

None

International Dividend Appreciation Index Fund Admiral Shares (VIAAX)

0.25%

0.25%

International High Dividend Yield Index Fund Admiral Shares (VIHAX)

0.25%

0.25%

Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX)

1.00%

None

Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX)

1.00%

None

Tax-Exempt Bond Index Fund Admiral Shares (VTEAX)

None

None

Long-Term Bond Index Fund—Admiral Shares (VBLAX)

0.50%

0.25%

Long-Term Bond Index Fund—Institutional Shares (VBLLX)

0.50%

None

Long-Term Bond Index Fund—Institutional Plus Shares (VBLIX)

0.50%

None

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.

$0 trading commissions

Pay nothing to trade stocks, ETFs, and Vanguard mutual funds online. Enjoy access to more than 160 no-transaction-fee mutual funds from Vanguard and more than 3,000 funds from other companies.

Review our commission schedule for details

Account and advice fees

Account & service fees

A $25 annual fee applies to each of your brokerage and mutual-fund-only accounts.

Find out how easy it is to avoid these fees

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

Vanguard advisory fees

Vanguard offers 4 investment advice services, each with their own advisory fee schedules.

Compare our advice services and their fees

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.

Get details on fees & minimums for Vanguard mutual funds

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

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

ETFs

The minimum investment for a Vanguard ETF is as little as $1 through our fractional share program. The minimum investment for a non-Vanguard ETF is simply the price of one share.

Get details on costs & minimums for Vanguard ETFs

Stocks, CDs & bonds

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

Buy and sell:

*Vanguard average ETF and mutual fund expense ratio: 0.08%. Industry average ETF and mutual fund expense ratio: 0.44%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2023.

You should consult your plan fee disclosure notice for the applicable annual gross advisory fees that apply to your 401(k) account.

**Some funds have higher minimums to protect the funds from short-term trading activity. Fund-specific details are provided in each fund profile.

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

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.