*Minimum initial investment requirements for most mutual funds range from $1,000 to $100,000 depending on the fund and the share class, but some may be higher. Details are provided in each fund profile.
**There's no annual account service fee if you sign up to receive statements and other important documents electronically or if you have at least $50,000 in qualifying Vanguard assets. Otherwise, a $20 fee is charged annually for all Vanguard Brokerage Accounts, as well as for each individual Vanguard mutual fund holding with a balance lower than $10,000.
†Vanguard average expense ratio: 0.09%. Industry average expense ratio: 0.49%. All averages are asset-weighted. Industry averages exclude Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2021.
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.
Investments in Target Retirement Funds are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a Target Retirement Fund is not guaranteed at any time, including on or after the target date.
All investing is subject to risk, including the possible loss of the money you invest.
Tax rates will vary based on the individual and on changing tax rates. You may wish to consult a tax advisor about your situation.
