VALLEY FORGE, Pa., Feb. 25, 2022 /PRNewswire/ -- Vanguard today reported expense ratio changes for 18 funds across multiple ETF and mutual fund share classes, including a wide range of international strategies. The firm continues to return value to investors through lower fund expenses on its path to returning $1 billion in cost savings to shareholders by the end of 2025. The changes reported today in prospectus filings align to funds with fiscal years ending October 2021 and represent $34.2 million in net savings for investors.1
Expense ratio changes occur for a variety of reasons, including asset growth and operational efficiencies. For most of Vanguard's external advisory arrangements, the advisor's fee is also subject to an adjustment up or down based on their investment performance relative to the total return of an appropriate benchmark. Expense ratio changes may also reflect other types of portfolio management expenses. For funds that employ both long- and short-selling strategies, such as Vanguard Alternative Strategies Fund, expense ratios may include borrowing expenses, as well as dividend expenses on securities sold short, and may experience substantial changes from one fiscal year to the next.
Vanguard fund and ETF expense ratio changes
|
Name
|
Ticker
|
2020 fiscal
year end
expense
ratio
|
2021 fiscal
year end
expense ratio
|
Change
(in basis
points)
|
|
Vanguard International High Dividend Yield ETF
|
VYMI
|
0.28%
|
0.22%
|
-6
|
|
Vanguard International High Dividend Yield Index Admiral Shares
|
VIHAX
|
0.28%
|
0.22%
|
-6
|
|
Vanguard Emerging Markets Government Bond ETF
|
VWOB
|
0.25%
|
0.20%
|
-5
|
|
Vanguard Emerging Markets Government Bond Index Fund Admiral Shares
|
VGAVX
|
0.25%
|
0.20%
|
-5
|
|
Vanguard Emerging Markets Government Bond Index Fund Institutional Shares
|
VGIVX
|
0.23%
|
0.18%
|
-5
|
|
Vanguard International Dividend Appreciation ETF
|
VIGI
|
0.20%
|
0.15%
|
-5
|
|
Vanguard FTSE All-World ex-US Small-Cap ETF
|
VSS
|
0.11%
|
0.07%
|
-4
|
|
Vanguard International Dividend Appreciation Index Admiral Shares
|
VIAXX
|
0.20%
|
0.16%
|
-4
|
|
Vanguard FTSE Emerging Markets ETF
|
VWO
|
0.10%
|
0.08%
|
-2
|
|
Vanguard Emerging Markets Select Stock Fund
|
VMMSX
|
0.85%
|
0.84%
|
-1
|
|
Vanguard Explorer Fund Investor Shares
|
VEXPX
|
0.41%
|
0.40%
|
-1
|
|
Vanguard Explorer Fund Admiral Shares
|
VEXRX
|
0.30%
|
0.29%
|
-1
|
|
Vanguard FTSE All-World ex-US ETF
|
VEU
|
0.08%
|
0.07%
|
-1
|
|
Vanguard Mid-Cap Growth Fund
|
VMGRX
|
0.34%
|
0.33%
|
-1
|
|
Vanguard Tax-Exempt Bond Index Fund ETF
|
VTEB
|
0.06%
|
0.05%
|
-1
|
|
Vanguard Total International Bond ETF
|
BNDX
|
0.08%
|
0.07%
|
-1
|
|
Vanguard Total International Stock ETF
|
VXUS
|
0.08%
|
0.07%
|
-1
|
|
Vanguard Total World Stock ETF
|
VT
|
0.08%
|
0.07%
|
-1
|
|
Vanguard International Value Fund
|
VTRIX
|
0.35%
|
0.36%
|
1
|
|
Vanguard International Explorer Fund
|
VINEX
|
0.39%
|
0.40%
|
1
|
|
Vanguard Selected Value Fund
|
VASVX
|
0.31%
|
0.32%
|
1
|
|
Vanguard Windsor Fund Investor Shares
|
VWNDX
|
0.29%
|
0.30%
|
1
|
|
Vanguard Windsor Fund Admiral Shares
|
VWNEX
|
0.19%
|
0.20%
|
1
|
|
Vanguard Alternative Strategies Fund
|
VASFX
|
0.78%
|
1.28%
|
50
|
About Vanguard
Founded in 1975, Vanguard is one of the world's leading investment management companies. The firm offers investments, advice, and retirement services to individual investors, institutions, and financial professionals. Based in Valley Forge, Pennsylvania, Vanguard has offices worldwide and managed $8.1 trillion on behalf of 30 million clients as of January 31, 2022. Vanguard operates under a unique, investor-owned structure where Vanguard fund shareholders own the funds, which in turn own Vanguard. As such, Vanguard adheres to a simple purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. For more information, visit vanguard.com.
All figures as of January 31, 2022 unless stated otherwise.
1 Estimated savings for the identified funds is the difference between prior and current expense ratios multiplied by the average assets under management (AUM). Average AUM is based on daily average assets during a month, which are then averaged over the 12 months of the fiscal year ending October 2021.
All investing is subject to risk, including the possible loss of the money you invest.
For more information about Vanguard funds, visit vanguard.com to obtain a 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.
Vanguard ETF Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.
Investments in securities issued by non-U.S. companies and governments are subject to risks including country/regional risk and currency risk. These risks are especially high in emerging markets.
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.
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SOURCE Vanguard
