Which is the one that Bogleheads look at?
Vanguard calls it "Total Expense Ratio", is it referring to gross or net?
Gross vs Net Expense Ratio?
Re: Gross vs Net Expense Ratio?
The one you care about is net. I'm not seeing where vanguard calls it "total expense ratio" but if you only see one it's probably net.
Re: Gross vs Net Expense Ratio?
Some funds temporarily waive part of their expenses, with support from the fund company. The prospectus may report, "Gross expense ratio 0.63%, fee waiver 0.23% guaranteed through March 1, 2015, net expense ratio 0.40%." If you hold such a fund, watch the prospectus carefully to see whether the fee waiver expires, as it may no longer be a good deal. And avoid such funds in your taxable account, because you may be stuck with a high-expense fund if the fund rises in value and the waiver expires.
Another common example of fee waivers is money-market funds, which would have a negative yield if they charged full expenses because short-term rates are so low. Even Vanguard waives some of its fees on the money-market funds.
Another common example of fee waivers is money-market funds, which would have a negative yield if they charged full expenses because short-term rates are so low. Even Vanguard waives some of its fees on the money-market funds.