In another thread, somebody was looking for an alternative to VSS due to the inability to make recurring purchases. The Investor shares version (VFSVX) was ruled out due to the expenses. As an alternative, I thought that the OP might lobby his/her employer for access to VFSNX. Its ER is one-half that of VFSVX. It still has the same purchase and redemption charges, but those might be consumed by the plan. Either way, it still saves money on the ER.
I was curious as to how many people actually have access to this fund though. I never hear about it. I looked at Vanguard's website to find out the breakdown on the share classes by assets. Here are the results:
Total $1.40B
VFSVX $0.25B
VSS $1.10B
VFSNX $0.02B ($15.5M)
That last one is a tiny amount of money for a Vanguard fund. The minimum investment in VFSNX is $5M. Does that mean that there are at most three companies out there offering this fund?
If you have access to it, did you have to lobby to get it? It doesn't seem like a fund that most HR departments would think of as a great idea.
Who Has VFSNX (FTSE ex-US Small Institutional)
- SteelyEyed
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