Vanguard European Stock Index Fund expenses

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Vanguard European 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 0.26% 0.10% 0.10% 6% xxx
FTSE Group logo.jpg
Developed Europe
2015 0.26% 0.12% 0.12% 13% 0.006
FTSE Group logo.jpg
Developed Europe
2014 0.26% 0.12% 0.12% 7% 0.003
FTSE Group logo.jpg
Developed Europe
2013 0.26% 0.12% 0.12% 10% 0.006 Transition to
FTSE Group logo.jpg
Developed Europe
2012 0.26% 0.12% 0.12% 7% 0.003
MSCI logo.jpg
Developed Europe
2011 0.26% 0.14% 0.14% 6% 0.002
MSCI logo.jpg
Developed Europe
2010 0.26% 0.14% 0.14% 11% 0.008
MSCI logo.jpg
Developed Europe
2009 0.27% 0.16% 0.16% 18% 0.008
MSCI logo.jpg
Developed Europe
2008 0.22% 0.12% 0.11% 15% 0.114
MSCI logo.jpg
Developed Europe
2007 0.22% 0.12% 0.12% 9% 0.019
MSCI logo.jpg
Developed Europe
2006 0.27% 0.17% 0.18% 6% 0.016
MSCI logo.jpg
Developed Europe
2005 0.27% 0.18% 0.18% 5% 0.072
MSCI logo.jpg
Developed Europe
2004 0.27% 0.18% - 5% 0.062
MSCI logo.jpg
Developed Europe
2003 0.32% 0.23% - 6% 0.054
MSCI logo.jpg
Developed Europe
2002 0.33% 0.23% - 15% 0.098
MSCI logo.jpg
Developed Europe
2001 0.30% 0.25% - 3% 0.035
MSCI logo.jpg
Developed Europe
2000 0.29% - - 8% 0.038
MSCI logo.jpg
Developed Europe
1999 0.29% - - 7% 0.062
MSCI logo.jpg
Developed Europe
1998 0.29% - - 7% 0.130
MSCI logo.jpg
Developed Europe
1997 0.31% - - 3% 0.075
MSCI logo.jpg
Developed Europe
1996 0.35% - - 4% -
MSCI logo.jpg
Developed Europe
1995 0.35% - - 2% -
MSCI logo.jpg
Developed Europe
1994 0.32% - - 6% -
MSCI logo.jpg
Developed Europe
1993 0.32% - - 4% -
MSCI logo.jpg
Developed Europe
1992 0.32% - - 1% -
MSCI logo.jpg
Developed Europe
1991 0.32% - - 15% -
MSCI logo.jpg
Developed Europe
1990 0.32% - - 3% -
MSCI logo.jpg
Developed Europe

Transaction fee history

  • 1.0% purchase fee from 1995 through 11/2/1997
  • 0.5% purchase fee beginning 11/3/1997 through 3/31/2000

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 two benchmarks over its history:
    • MSCI Europe Index through March 26, 2013;
    • FTSE Developed Europe Index thereafter.

References