Vanguard Pacific Stock Index Fund Expenses

From Bogleheads

Vanguard Pacific Stock Index Fund Expense Ratios and Turnover

Year	Investor ER	Admiral ER	ETF ER	Turnover	Fund CR
2008	0.22	0.12	0.11	9%	xxxx
2007	0.22	0.12	0.12	3%	0.006
2006	0.27	0.17	0.18	2%	0.012
2005	0.32	0.20	0.18	7%	0.002
2004	0.34	0.25	-	3%	0.019
2003	0.39	0.30	-	3%	0.017
2002	0.40	0.30	-	20%	0.057
2001	0.37	0.32	-	2%	0.014
2000	0.38	-	-	6%	0.020
1999	0.40	-	-	6%	0.056
1998	0.35	-	-	4%	0.040
1997	0.35	-	-	8%	0.062
1996	0.35	-	-	9%	-
1995	0.35	-	-	1%	-
1994	0.32	-	-	4%	-
1993	0.32	-	-	7%	-
1992	0.32	-	-	2%	-
1991	0.32	-	-	21%	-
1990	0.35	-	-	2%	-

Transaction Fee History

• 1.0% purchase fee from 1995 to 1/1/1997
• 0.5% purchase fee from 1/1/1997 through 3/31/2000

Note

The Fund CR (Commission Ratio) is derived by dividing the brokerage commissions paid by the fund into a fund's approximate average net assets (three data points derived from annual and semiannual reports). An exact ratio requires all twelve monthly data points. Since these data points are not readily available, the approximation must suffice.

Brokerage commission expense is the only transaction expense that can be quantified. Additional transaction costs, such as spread costs and market impact costs, must be estimated.

Vanguard provides only aggregate, not individual, international index fund brokerage commission expense prior to 1997.

The fund's higher than average turnover in fiscal year 2002 was due to a reformulation of the MSCI international indexes.

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