Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

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abuss368
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by abuss368 »

Outafter20 wrote: Thu Mar 31, 2022 9:22 pm
abuss368 wrote: Thu Mar 31, 2022 9:10 pm Imagine after Vanguard rolls this out to all clients, the next step could be adding the option to have dividends from ETFs deposited into a bank account directly.

Best.
Tony
I have been hoping for this for quite sometime.
I think of retired investors who I know. This would be very helpful and appreciated to automate the process and not have to log into the accounts as much.

Come on Vanguard!

Best.
Tony
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by lostdog »

abuss368 wrote: Thu Mar 31, 2022 9:10 pm Imagine after Vanguard rolls this out to all clients, the next step could be adding the option to have dividends from ETFs deposited into a bank account directly.

Best.
Tony
Yes! This would be a great feature. :sharebeer
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by roth evangelist »

This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Cheez-It Guy »

roth evangelist wrote: Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
Were you a known part of a pilot program or notified by E-Mail that this was now enabled, or none of the above and just noticed the capability had been added?
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Fresenius76 »

roth evangelist wrote: Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
Can confirm the option for fractional ETF shares (based on $ amounts) for market orders of Vanguard ETFs is available as an option, at least on the mobile app. I was not involved in the pilot.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by roth evangelist »

Cheez-It Guy wrote: Tue Apr 05, 2022 1:52 pm
roth evangelist wrote: Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
Were you a known part of a pilot program or notified by E-Mail that this was now enabled, or none of the above and just noticed the capability had been added?
I never got any email about a pilot program.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by lostdog »

roth evangelist wrote: Tue Apr 05, 2022 5:44 pm
Cheez-It Guy wrote: Tue Apr 05, 2022 1:52 pm
roth evangelist wrote: Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
Were you a known part of a pilot program or notified by E-Mail that this was now enabled, or none of the above and just noticed the capability had been added?
I never got any email about a pilot program.
Is this available in the mobile app or the website?
VT and chill...
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Cheez-It Guy »

Now if they could just turn on the automation, please.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Fpdesignco »

beyou wrote: Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?

Too little too late.

Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Makefile »

Fpdesignco wrote: Tue Apr 05, 2022 6:21 pm
beyou wrote: Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?

Too little too late.

Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.
Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by beyou »

Makefile wrote: Tue Apr 05, 2022 6:27 pm
Fpdesignco wrote: Tue Apr 05, 2022 6:21 pm
beyou wrote: Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?

Too little too late.

Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.
Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?
Really, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed on
my Linux servers in a data center we controlled.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Makefile »

beyou wrote: Tue Apr 05, 2022 8:02 pm
Makefile wrote: Tue Apr 05, 2022 6:27 pm
Fpdesignco wrote: Tue Apr 05, 2022 6:21 pm
beyou wrote: Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?

Too little too late.

Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.
Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?
Really, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed on
my Linux servers in a data center we controlled.
Dunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Fpdesignco »

Makefile wrote: Tue Apr 05, 2022 8:35 pm
beyou wrote: Tue Apr 05, 2022 8:02 pm
Makefile wrote: Tue Apr 05, 2022 6:27 pm
Fpdesignco wrote: Tue Apr 05, 2022 6:21 pm
beyou wrote: Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?

Too little too late.

Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.
Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?
Really, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed on
my Linux servers in a data center we controlled.
Dunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.
I work in the Financial Services space (transactions) and yes the major back ends still are heavily reliant on mainframes for all the brands. Also, other legacy tech (I.e. tandems) and other cloud unfriendly tech that makes the major systems very slow to move but it will eventually happen (in general microservice architecture that can go anywhere).

For Vanguards-particular space though mainframes in todays world would surprise me, but then again perhaps not as most major banks are not exactly living on the cutting edge for a lot of the core systems so perhaps broker/dealers are the same ?
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by beyou »

Makefile wrote: Tue Apr 05, 2022 8:35 pm
beyou wrote: Tue Apr 05, 2022 8:02 pm
Makefile wrote: Tue Apr 05, 2022 6:27 pm
Fpdesignco wrote: Tue Apr 05, 2022 6:21 pm
beyou wrote: Mon Mar 28, 2022 9:41 pm This is kind of hard to believe that it takes so long to test this new functionality. Also hard to understand why only Vanguard ETFs are supported. If any challenge here it would be what exchanges support, and why would they allow fractional shares for only Vanguard ETFs ?

Too little too late.

Working in the industry (IT for mutual funds) I can say from 1st hand experience they are very bureaucratic and slow to adopt technology. We all see the results, but I have met with Vanguard staff multiple times over the years (conferences and common vendor references), and it is painful to hear how they think and operate. This is the result, a simple project taking forever and falling short.
Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.
Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?
Really, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed on
my Linux servers in a data center we controlled.
Dunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.
Investment management firms have far more expenditure modernizing tech, mainly due to ever increasing complexity of the applications. Systems are often migrated to new applications,that can trade complex newer asset classes, and when they do, nobody is moving to a mainframe. What is more likely still on mainframes is the fund shareholder and 401k participant systems that have far less volatile bus requirements hence less common to move to new app and hence servers.

So they guys managing the fund and backend accounting for same are not on mainframes, and the brokerage backend you trade on too, but backend that only needs to know how many shares of a fund-only account, can live with old apps hence may be on mainframes at some fund shops.

One should not lump together checking accounts and credit cards with fund portfolio management and brokerage systems. Vanilla transaction types will run on older mainframes just fine. Most common driver to move off mainfames is when the apps need extensive enhancements to the point it’s time to rewrite or buy off-the-shelf apps. This leads to Linux or Windows servers.
Last edited by beyou on Wed Apr 06, 2022 12:01 am, edited 2 times in total.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by starboi »

Still can’t buy anything on the app, much less fractional shares.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by roth evangelist »

lostdog wrote: Tue Apr 05, 2022 6:11 pm
roth evangelist wrote: Tue Apr 05, 2022 5:44 pm
Cheez-It Guy wrote: Tue Apr 05, 2022 1:52 pm
roth evangelist wrote: Tue Apr 05, 2022 1:47 pm This feature now appears to be active in my wife's Roth IRA and our taxable brokerage account at Vanguard. I bought some fractional shares of an ETF today.
Were you a known part of a pilot program or notified by E-Mail that this was now enabled, or none of the above and just noticed the capability had been added?
I never got any email about a pilot program.
Is this available in the mobile app or the website?
Not sure about the app because I've never downloaded it. I do everything on my browser.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Eagle33 »

Fpdesignco wrote: Tue Apr 05, 2022 9:09 pm
Makefile wrote: Tue Apr 05, 2022 8:35 pm
beyou wrote: Tue Apr 05, 2022 8:02 pm
Makefile wrote: Tue Apr 05, 2022 6:27 pm
Fpdesignco wrote: Tue Apr 05, 2022 6:21 pm

Funny you say that as I have been there twice as they presented at AWS Reinvent, and really confused on the CIO talks how they are on the cutting edge and delivering faster and faster, I have yet to see anything except for a UI when I am loosing my eye sight that may provide me benefits.
Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?
Really, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed on
my Linux servers in a data center we controlled.
Dunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.
I work in the Financial Services space (transactions) and yes the major back ends still are heavily reliant on mainframes for all the brands. Also, other legacy tech (I.e. tandems) and other cloud unfriendly tech that makes the major systems very slow to move but it will eventually happen (in general microservice architecture that can go anywhere).

For Vanguards-particular space though mainframes in todays world would surprise me, but then again perhaps not as most major banks are not exactly living on the cutting edge for a lot of the core systems so perhaps broker/dealers are the same ?
There was a youtube video a couple months ago that described Vanguard’s modernization journey to cloud native on AWS. No wonder why there are changes and glitches with so much happening behind the scenes with the technology. A major undertaking on Vanguard's part while learning as they make changes. I just wonder if VG will ever announce once they are 100% cloud?
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by anil686 »

My spouse and I use to have separate accounts at VG and now we have a joint account but two logins - interestingly she has the option to buy fractional shares of ETFs but my login does not....
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by beyou »

Eagle33 wrote: Wed Apr 06, 2022 6:40 pm
Fpdesignco wrote: Tue Apr 05, 2022 9:09 pm
Makefile wrote: Tue Apr 05, 2022 8:35 pm
beyou wrote: Tue Apr 05, 2022 8:02 pm
Makefile wrote: Tue Apr 05, 2022 6:27 pm

Haven't watched the presentation, but it's my understanding that any kind of high-volume, real-time transaction processing like a stock exchange or stockbroker is still the realm of IBM mainframes. I would guess all that would be moved to the cloud are the user-facing parts like web applications. Anyone work in the industry and have thoughts?
Really, mainframes ? Only older legacy applications run on mainframes and that is shrinking. I worked for a large fund manager that has been around for decades. We got rid of our remaining mainframe applications 5-10 years ago. Firms like BlackRock never had mainframe applications from the start. Vanguard may well have some of that left, but doubtful anything real time is running on a mainframe, more likely very old recordkeeping systems. Most use unix/linux for the high volume apps that must be stable and fast. That said, I had moved only testing and dev to the cloud, production trading apps stayed on
my Linux servers in a data center we controlled.
Dunno, I was just googling around. Seems virtually all credit card authorizations and airline reservations are still done via IBM mainframes. And agreed there is a difference between "moving some parts of the organization to the cloud" and getting into a situation where major fund companies can't operate while us-east-1 is down or whatever.
I work in the Financial Services space (transactions) and yes the major back ends still are heavily reliant on mainframes for all the brands. Also, other legacy tech (I.e. tandems) and other cloud unfriendly tech that makes the major systems very slow to move but it will eventually happen (in general microservice architecture that can go anywhere).

For Vanguards-particular space though mainframes in todays world would surprise me, but then again perhaps not as most major banks are not exactly living on the cutting edge for a lot of the core systems so perhaps broker/dealers are the same ?
There was a youtube video a couple months ago that described Vanguard’s modernization journey to cloud native on AWS. No wonder why there are changes and glitches with so much happening behind the scenes with the technology. A major undertaking on Vanguard's part while learning as they make changes. I just wonder if VG will ever announce once they are 100% cloud?
None of the big players in funds are 100% in the cloud and for reasons that wont change fast.

Note if you watch the video above, they are talking about copies of data sent to the cloud for newer applications such as PAS related analysis and decisions. The data comes from a “mainframe RDBMS”. Mainframes and their applications are not moving to the cloud. They would have to build/buy new apps and migrate the data for critical core apps. These are risky multi-year projects that are not planned per the presentation (but may be in the future).
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by abuss368 »

Bogleheads -

I bought yesterday and was pleased to now have the option to buy in shares or dollars with Vanguard’s ETFs.

Thanks Vanguard!

Now please provide the option for dividends to be deposited directly to a bank account.

Best.
Tony
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by Cheez-It Guy »

Yes, that would be nice, albeit somewhat less attractive as money market rates continue to recover.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

Post by quisp65 »

anil686 wrote: Sat Apr 09, 2022 12:45 pm My spouse and I use to have separate accounts at VG and now we have a joint account but two logins - interestingly she has the option to buy fractional shares of ETFs but my login does not....
Same here. I just used my wife's account to make MY sweep account zero and put a fractional share in VCIT. Couldn't do it on mine.
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Vanguard ETF dollar-based investing [fractional share purchases now available]

Post by xenial »

[Thread merged into here --admin LadyGeek]

I bought a Vanguard ETF today, and I was given the option to purchase either in shares or dollars. Here is Vanguard's explanation.
Vanguard wrote:Now you can buy and sell Vanguard ETFs based on how much you want to invest, not on how many shares you can afford. With as little as $1, you can start investing.

Example: Say you have $100 to invest in a Vanguard ETF with a share price of $150. Buying in dollars allows you to purchase just a part of that ETF share. With your $100 you can buy 0.67 shares instead of having to wait until you can afford a whole share.

Additional details
*Dollar-based orders have a $1 minimum.
*Dollar-based trading is exclusive to Vanguard ETFs.
*Vanguard ETFs are traded commission-free, like most stock & ETF trades through Vanguard Brokerage Services.
*Dollar-based orders are restricted to market orders which execute immediately (or the next market day if you place an order when the market is closed).
*SpecID (specific identification) is not available as a cost basis method for dollar-based sell orders.
While I'll continue to transact in whole shares myself, I think this is a nice feature, especially for investors just starting out. I'm not sure whether this capability is available to everyone right now or whether there's a phased rollout.

A couple of additional thoughts:
1. I don't think there are many reasons to prefer Vanguard mutual funds over the associated ETF share classes anymore.
2. Vanguard Brokerage is demonstrating a clear interest in attracting small investors.
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Cheez-It Guy
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Re: Vanguard ETF dollar-based investing

Post by Cheez-It Guy »

Interesting.

Now automate it for advanced scheduling, and I'll be close to on board.
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Re: Vanguard ETF dollar-based investing

Post by strakert »

xenial wrote: Wed Jun 22, 2022 10:51 am *SpecID (specific identification) is not available as a cost basis method for dollar-based sell orders.
What does this mean?
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Re: Vanguard ETF dollar-based investing

Post by exodusNH »

strakert wrote: Wed Jun 22, 2022 11:09 am
xenial wrote: Wed Jun 22, 2022 10:51 am *SpecID (specific identification) is not available as a cost basis method for dollar-based sell orders.
What does this mean?
You can't sell specific lots as dollar amounts. You need to sell by number of shares / entire lot.
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Re: Vanguard ETF dollar-based investing

Post by starboi »

Duplicate thread

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strakert
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Re: Vanguard ETF dollar-based investing

Post by strakert »

exodusNH wrote: Wed Jun 22, 2022 11:14 am
strakert wrote: Wed Jun 22, 2022 11:09 am
xenial wrote: Wed Jun 22, 2022 10:51 am *SpecID (specific identification) is not available as a cost basis method for dollar-based sell orders.
What does this mean?
You can't sell specific lots as dollar amounts. You need to sell by number of shares / entire lot.
Makes sense, thank you.
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Nate79
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Re: Vanguard ETF dollar-based investing [fractional share purchases now available]

Post by Nate79 »

Is this for everyone at Vanguard or like earlier it was only available to a select few?
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by LadyGeek »

I merged xenial's thread into the ongoing discussion. I also modified the thread title and updated the first post.

(Thanks to the member who reported the post and provided a link to this thread.)
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xenial
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Re: Vanguard ETF dollar-based investing [fractional share purchases now available]

Post by xenial »

Nate79 wrote: Wed Jun 22, 2022 11:36 am Is this for everyone at Vanguard or like earlier it was only available to a select few?
I'm not sure. I only recently got this capability. I'm curious to see whether everyone has it now or not.

It's easy enough to test. Just try to buy a Vanguard ETF. It will be obvious on the first screen whether you can buy in dollars. Then just cancel out of the transaction.
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Cheez-It Guy
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by Cheez-It Guy »

I still do not have the capability to purchase fractional shares on the full website. Just attempted. Not that I was ready to use that function, but trying to answer the question of whether it was in expanded pilot phase or available to all clients. Others can weigh in.
retiringwhen
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by retiringwhen »

I just tried in an IRA brokerage account today and we now have access to the buy by $ or shares option. Overall the trading screen is pretty decent and usable.
5outof10
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by 5outof10 »

Because I am too excited for this feature I will be the last to get it! Ha!
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kvdecide
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by kvdecide »

Ideally, Vanguard need to let me input the following:

1) a market order for an ETF, specifying how many dollars I want to invest
2) a time when that order should be executed (range is ok)
3) how often I want that trade to execute (daily, weekly, monthly, fortnightly etc)

This will not only let me automate the purchase but also select the frequency of my DCA. I am glad they are atleast doing item 1 now :) But when will they do the items 2 and 3?
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exodusNH
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by exodusNH »

kvdecide wrote: Thu Jun 23, 2022 2:20 am Ideally, Vanguard need to let me input the following:

1) a market order for an ETF, specifying how many dollars I want to invest
2) a time when that order should be executed (range is ok)
3) how often I want that trade to execute (daily, weekly, monthly, fortnightly etc)

This will not only let me automate the purchase but also select the frequency of my DCA. I am glad they are atleast doing item 1 now :) But when will they do the items 2 and 3?
Given that it's taken 6 months to roll this out to a wider audience (not everyone has access to it yet.) I would definitely not expect it any time soon.

They need to fix these spec ID sell interface first. The current one unusable.
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anon_investor
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by anon_investor »

I made a purchase today in my Vanguard Roth IRA, it looks like I still don't have the ability to buy Vanguard ETFs by dollar amount yet.
dorster
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by dorster »

I also have the option to buy in dollars or shares as of today (or at least I noticed today). Seemed to work well.
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Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)

Post by retire2022 »

Tried today still cannot purchase fractional shares.
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