Vanguard Growth Index Fund expenses

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Vanguard Growth Index Fund expenses examines the history of the fund's measurable expenses: the management fees[note 1] and the commission ratio (CR), which measures the cost of fund brokerage commission expense.[note 2]

Expense Ratios and Turnover [1]
Year Investor ER Admiral ER
[note 3]
ETF ER Turnover
[note 4]
Fund CR%
[note 5]
Benchmark tracker
[note 6]
2016 0.18% 0.06% 0.06% 11% xxx CRSP Indexes logo.png
2015 0.22% 0.08% 0.08% 9% 0.001 CRSP Indexes logo.png
2014 0.23% 0.09% 0.09% 9% 0.001 CRSP Indexes logo.png
2013 0.24% 0.09% 0.09% 32% 0.003 Transition
2012 0.24% 0.10% 0.10% 21% 0.001 MSCI logo.jpg
2011 0.24% 0.10% 0.10% 23% 0.002 MSCI logo.jpg
2010 0.26% 0.12% 0.12% 26% 0.003 MSCI logo.jpg
2009 0.26% 0.14% 0.14% 29% 0.005 MSCI logo.jpg
2008 0.23% 0.11% 0.10% 27% 0.004 MSCI logo.jpg
2007 0.22% 0.10% 0.10% 23% 0.003 MSCI logo.jpg
2006 0.22% 0.11% 0.11% 28% 0.005 MSCI logo.jpg
2005 0.22% 0.11% 0.11% 23% 0.004 MSCI logo.jpg
2004 0.22% 0.11% 0.15% 24% 0.006 MSCI logo.jpg
2003 0.22% 42% 0.012 Transition
2002 0.23% 23% 0.023 S&P logo.png
2001 0.23% 31% 0.012 S&P logo.png
2000 0.22% 33% 0.005 S&P logo.png
1999 0.22% 33% 0.002 S&P logo.png
1998 0.22% 29% S&P logo.png
1997 0.20% 20% S&P logo.png
1996 0.20% 29% S&P logo.png
1995 0.20% 24% S&P logo.png
1994 0.20% 28% S&P logo.png
1993 0.20% 36% S&P logo.png

Notes

  1. Chart:Expense ratio

    google drive spreadsheet
  2. 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. 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.)
  3. On October 6, 2010 Vanguard reduced the minimum requirements for Admiral Shares to $10,000. Vanguard lowers the cost of investing again
  4. The higher than average turnover in 2003 was due to a change in the fund's tracking index.
  5. From the 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 December 31, 2013.
  6. The fund has changed tracking indexes two times in its history:
    • S&P 500 Barra Large Growth Index from November 2, 1992 through May 16, 2003.
    • MSCI Prime Market Growth Index from May 17, 2003 through April 16, 2013.
    • CRSP US Large Growth Index thereafter.

References