Vanguard Mid Cap Index Fund

This post contains spreadsheets that detail various aspects of the Vanguard Mid Cap Index Fund. Accounting data The accounting figures and associated ratios can help one visualize some of the major determinants of a fund’s tendency to distribute taxable gains. These determining features include: Turnover: The rate at which a fund manager sells securities within … Read more

Vanguard Extended Market Index Fund

This post contains spreadsheets that detail various aspects of the Vanguard Extended Market Index Fund. Accounting data The accounting figures and associated ratios can help one visualize some of the major determinants of a fund’s tendency to distribute taxable gains. These determining features include: Turnover: The rate at which a fund manager sells securities within … Read more

Vanguard Small Cap Value Index Fund

This post contains spreadsheets that detail various aspects of the Vanguard Small Cap Value Index Fund. Accounting data The accounting figures and associated ratios can help one visualize some of the major determinants of a fund’s tendency to distribute taxable gains. These determining features include: Turnover: The rate at which a fund manager sells securities … Read more

Vanguard Small Cap Growth Index Fund

This post contains spreadsheets that detail various aspects of the Vanguard Small Cap Growth Index Fund. Accounting data The accounting figures and associated ratios can help one visualize some of the major determinants of a fund’s tendency to distribute taxable gains. These determining features include: Turnover: The rate at which a fund manager sells securities … Read more

Vanguard Small Cap Index Fund

This post contains spreadsheets that detail various aspects of the Vanguard Small Cap Index Fund. Accounting data The accounting figures and associated ratios can help one visualize some of the major determinants of a fund’s tendency to distribute taxable gains. These determining features include: Turnover: The rate at which a fund manager sells securities within … Read more

Vanguard 500 Index Fund

This post contains spreadsheets that detail various aspects of the Vanguard 500 Index Fund. Accounting data The accounting figures and associated ratios can help one visualize some of the major determinants of a fund’s tendency to distribute taxable gains. These determining features include: Turnover: The rate at which a fund manager sells securities within the … Read more

Vanguard Total Stock Market Index Fund

This post contains spreadsheets that detail various aspects of the Vanguard Total Stock Market Index Fund. Accounting data The accounting figures and associated ratios can help one visualize some of the major determinants of a fund’s tendency to distribute taxable gains. These determining features include: Turnover: The rate at which a fund manager sells securities … Read more

Update: Vanguard brokerage commission expense (1994 – 2019)

NYSE exchange floor (Getty Images)
NYSE exchange floor (Getty Images)

Mutual funds that buy and sell stock incur costs on these transactions. These transaction costs are not included in a fund’s expense ratio. Transaction costs include brokerage commission expense, buy and sell spread costs, and market impact costs, Among these costs, only brokerage commission costs are reported. These costs are recorded in the N-CEN report.  We can take this expense and divide it into a fund’s average net assets to produce a commission expense ratio, analogous to a fund’s reported expense ratio. This blog entry will examine the brokerage commission expense of Vanguard active and passive funds from 1994 to 2019.

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Vanguard treasury bond index fund tracking error

The following tables provide tracking error data for Vanguard treasury bond index funds. Tracking error is the ultimate measure of judging an index fund manager’s performance. Vanguard offers four treasury bond index funds, three nominal treasury bond funds, covering short-term, intermediate-term, and long-term treasury bonds, and one short-term inflation indexed bond fund. The nominal bonds … Read more