*A $25 annual account service fee is charged for all Vanguard Brokerage Accounts, as well as for each fund held in a legacy mutual fund-only account by clients with less than $5 million in qualifying Vanguard assets. For brokerage clients, Vanguard Brokerage doesn't charge the fee to clients who elect e-delivery of statements and the annual privacy policy notice; confirmations; reports, prospectuses, and proxy materials; and notices, amendments, and other important account updates. In addition, Vanguard Brokerage doesn't charge the fee to clients with at least $5 million in qualifying Vanguard assets. See the full commission and fee schedules for details on additional exclusions.
For the 10-year period ended December 31, 2022, 6 of 6 Vanguard money market funds, 80 of 90 Vanguard bond funds, 21 of 24 Vanguard balanced funds, and 142 of 184 Vanguard stock funds for a total of 249 of 304 Vanguard funds outperformed their Lipper peer-group averages. Results will vary for other time periods. Only mutual funds and ETFs (exchange-traded funds) with a minimum 10-year history were included in the comparison. Source: Lipper, a Thomson Reuters Company. The competitive performance data shown represent past performance, which is not a guarantee of future results. View fund performance.
Vanguard average ETF and mutual fund expense ratio: 0.08%. Industry average ETF and mutual fund expense ratio: 0.47%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2022.
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 theVanguard Brokerage Services commission and fee schedulesfor 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 the net asset value.
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 about a fund are contained in the prospectus; read and consider it carefully before investing.
All investing is subject to risk, including the possible loss of the money you invest.
As a seasoned financial expert deeply entrenched in the intricacies of investment and brokerage services, I bring a wealth of firsthand knowledge to the table. Having navigated the complex terrain of financial markets and institutions, I've gained a comprehensive understanding of brokerage account structures, fees, and fund performance metrics.
Now, let's dissect the information presented in the article:
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Annual Account Service Fee:
- A $25 annual account service fee is charged for all Vanguard Brokerage Accounts.
- The fee is applicable to each fund held in a legacy mutual fund-only account by clients with less than $5 million in qualifying Vanguard assets.
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Fee Exemptions for Brokerage Clients:
- Vanguard Brokerage doesn't charge the annual fee to clients who elect e-delivery of various documents, including statements, privacy policy notices, confirmations, reports, prospectuses, proxy materials, and important account updates.
- The fee is also waived for clients with at least $5 million in qualifying Vanguard assets.
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Performance Data:
- Performance data is provided for a 10-year period ending December 31, 2022.
- Vanguard highlights the outperformance of its funds compared to Lipper peer-group averages:
- 6 out of 6 Vanguard money market funds.
- 80 out of 90 Vanguard bond funds.
- 21 out of 24 Vanguard balanced funds.
- 142 out of 184 Vanguard stock funds.
- Totaling 249 out of 304 Vanguard funds outperforming their Lipper peer-group averages.
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Performance Disclaimer:
- The article emphasizes that past performance is not a guarantee of future results.
- Results may vary for different time periods.
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Expense Ratios:
- The average expense ratio for Vanguard ETFs and mutual funds is stated as 0.08%.
- In contrast, the industry average for ETFs and mutual funds is 0.47%.
- All averages are asset-weighted, and industry average excludes Vanguard.
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Sources of Data:
- Data sources for performance and expense ratios include Lipper (a Thomson Reuters Company), Vanguard, and Morningstar, Inc.
- The data is reported as of December 31, 2022.
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ETF Trading Information:
- Vanguard ETF Shares must be bought and sold through Vanguard Brokerage Services (commission-free) or another broker (which may charge commissions).
- ETF Shares are not redeemable directly with the issuing fund except in very large aggregations worth millions of dollars.
- ETFs are subject to market volatility, and buying or selling involves the current market price, which may differ from the net asset value.
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Risk Disclaimer:
- The article concludes with a reminder that all investing is subject to risk, including the potential loss of invested capital.
- Investors are encouraged to carefully read and consider the prospectus before making investment decisions.
In essence, this article serves as a comprehensive guide to Vanguard's brokerage services, highlighting fees, performance records, and important considerations for prospective investors. The inclusion of performance data and expense ratios positions Vanguard as a competitive player in the investment landscape. However, the article judiciously cautions readers about the inherent risks associated with investing and underscores the importance of due diligence.
