Vanguard Emerging Markets Stock Index Fund expenses

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Vanguard Emerging Markets Stock Index Fund expenses examines the history of the fund's measurable expenses: the management fees[note 1] and the commission ratio, which measures the cost of fund brokerage commission expense.

Expense Ratios and Turnover [1]
Year Investor ER Admiral ER
[note 2]
ETF ER Turnover
[note 3]
Fund CR
[note 4] [note 5] [note 6]
Benchmark tracker
[note 7]
2016 0.32% 0.14% 0.14% 13% xxx
FTSE Group logo.jpg
FTSE Emerging
2015 0.33% 0.15% 0.15% 7% 0.008
FTSE Group logo.jpg
FTSE Emerging
2014 0.33% 0.15% 0.15% 9% 0.009
FTSE Group logo.jpg
FTSE Emerging
2013 0.33% 0.15% 0.15% 26% 0.024
FTSE Group logo.jpg
FTSE Emerging
2012 0.33% 0.18% 0.18% 8% 0.009
MSCI logo.jpg
Emerging
2011 0.33% 0.20% 0.20% 10% 0.010
MSCI logo.jpg
Emerging
2010 0.35% 0.22% 0.22% 12% 0.070
MSCI logo.jpg
Emerging
2009 0.40% 0.27% 0.27% 12% 0.055
MSCI logo.jpg
Emerging
2008 0.32% 0.20% 0.20% 20% 0.135
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Emerging
2007 0.37% 0.25% 0.25% 9% 0.043
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Emerging
2006 0.42% 0.30% 0.30% 26% 0.015
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Select Emerging
2005 0.45% 0.30% 0.30% 15% 0.088
MSCI logo.jpg
Select Emerging
2004 0.48% - - 11% 0.085
MSCI logo.jpg
Select Emerging
2003 0.53% - - 16% 0.074
MSCI logo.jpg
Select Emerging
2002 0.57% - - 65% 0.366
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Select Emerging
2001 0.60% - - 23% 0.157
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Select Emerging
2000 0.59% - - 40% 0.250
MSCI logo.jpg
Select Emerging
1999 0.58% - - 22% 0.227
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Select Emerging
1998 0.61% - - 22% 0.160
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Select Emerging
1997 0.57% - - 19% 0.314
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Select Emerging
1996 0.60% - - 1% -
MSCI logo.jpg
Select Emerging
1995 0.60% - - 3% -
MSCI logo.jpg
Select Emerging
1994 0.60% - - 6% -
MSCI logo.jpg
Select Emerging

Transaction fee history

  • 2.0% purchase fee; 1.0% redemption fee from 1994 through 1/1/1997
  • 1.5% purchase fee from 1/1/1997 through 11/2/1997; 1.0% redemption fee
  • 1.0% purchase fee from 11/3/1997 through 3/31/2000; 1.0% redemption fee
  • 0.50% purchase fee from 4/1/2000 through 06/26/2008; 0.5% redemption fee
  • 0.25% purchase fee from 06/26/2008 through 10/30/09; 0.25% redemption fee
  • 0.50% purchase fee from 10/30/09 through 12/7/2011; 0.25% redemption fee
  • 0.25% purchase fee from 12/07/2011; 0.25% redemption fee [note 8]
  • Purchase fee and redemption transaction fees rescinded on February 29, 2012. [note 9]

Notes

  1. Chart:Expense ratio

    google drive spreadsheet
  2. On October 6, 2010 Vanguard reduced the minimum requirements for Admiral Shares to $10,000. Vanguard lowers the cost of investing again
  3. The fund's higher than average turnover in fiscal year 2002 was due to a reformulation of the MSCI international indexes
  4. The Fund CR (Commission Ratio) is derived by dividing the brokerage commissions paid by the fund into a fund's average net assets 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. See table for data, derived from annual reports and EDGAR NSAR filings:
    Passive table

    (View Google Spreadsheet in browser, then File --> Download as to download the file.)
  5. from 2010 SAI: The delayering of fund-of-funds investments in the fiscal year 2009 resulted in fewer portfolio transactions and fewer brokerage commissions during the period.
  6. From 2013 SAI: Portfolio rebalancing in response to the benchmark index change for the Fund resulted in an increase in brokerage commissions for the Fund during the fiscal year ended October 31, 2013.
  7. The fund has tracked three benchmarks over its history:
    • Select Emerging Markets Index through August 23, 2006;
    • MSCI Emerging Markets Index through January 9, 2013;
    • FTSE Emerging Transition Index through June 27, 2013;
    • FTSE Emerging Index thereafter.
  8. On December 7, 2011, Brazil rescinded its tax on equity and fixed income transactions, Vanguard reduces purchase fees on Emerging Markets Stock Index Fund
  9. Fee eliminations, changes for several Vanguard international funds

References