Vanguard ETF to Fund Ratios
From Bogleheads
Because Vanguard ETFs are shares of conventional Vanguard index funds, they can take full advantage of tax-management strategies available to conventional funds and to ETFs. Conventional index funds can manage tax liabilities by selling high-cost securities to realize losses to offset realized gains. They can also limit a fund's potential capital gains exposure by using in-kind redemptions to eliminate stocks with high built-in capital gains from the portfolio. This advantage gives our Vanguard ETFs management team more flexibility in implementing tax-management strategies. {from Learn More About Vanguard ETFs}
The following table records the percentage of ETF shares to the total shares of each Vanguard Equity Index Fund offering ETF shares.
| Fund | 2008 | 2007 | 2006 | 2005 | 2004 |
| US Stock | |||||
| Total Market | 10.55% | 9.64% | 8.06% | 8.58% | 7.17% |
| Mega Cap | 58.22% | 69.79% | - | - | - |
| Mega Growth | 72.94% | 100.00% | - | - | - |
| Mega Value | 68.65% | 100.00% | - | - | - |
| Dividend Appreciation | 62.73% | 45.83% | - | - | - |
| Large Cap | 66.67% | 62.12% | 56.39% | 41.78% | 40.34% |
| Large Growth | 23.42% | 18.94% | 10.54% | 3.05% | 1.02% |
| Large Value | 25.88% | 18.28% | 15.18% | 8.47% | 6.90% |
| High Dividend Yield | 67.60% | 63.19% | - | - | - |
| Extended Market | 5.15% | 4.03% | 3.21% | 3.49% | 2.51% |
| Mid Cap | 7.40% | 5.24% | 8.81% | 7.91% | 0.68% |
| Mid Growth | 59.83% | 49.23% | 47.83% | - | - |
| Mid Value | 62.14% | 52.42% | 41.44% | - | - |
| Small Cap | 11.34% | 7.54% | 4.58% | 2.49% | 1.95% |
| Small Growth | 22.25% | 19.57% | 17.36% | 10.27% | 5.88% |
| Small Value | 24.37% | 16.64% | 9.93% | 4.84% | 1.49% |
| International | |||||
| Europe | 10.14% | 8.27% | 5.16% | 1.26% | - |
| Pacific | 13.56% | 8.82% | 6.07% | 2.23% | - |
| Emerging Markets | 35.98% | 24.33% | 14.60% | 6.48% | - |
| FTSE All ex-US | 69.57% | 74.26% | - | - | - |
| Euro-Pacific[1] | 62.16% | 20.83% | - | - | - |
| FTSE All ex-US Small | - | - | - | - | - |
| Total World | 70.30% | - | - | - | - |
[1] Vanguard Tax-Managed International Fund
Notes
Ratios are determined at the close of the fiscal years. For US index funds and the tax-managed Euro-Pacific international fund this occurs on 12/31 of each year. For all other international index funds, the close of the fiscal year comes on 10/31 of each year.
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