C000007079 Fees and Costs — Vanguard Municipal Low Duration Fund, Investor Shares
Data updated: 2026-07-29
The net expense ratio is 0.01%. There are no sales loads or redemption fees. Portfolio turnover was 0%.
C000007079 Fees and Expenses
Annual operating expenses and sales charges of C000007079. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.01% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.01% |
| Fee waiver | — |
| Net expense ratio | 0.01% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
C000007079 Costs Over Time
On $10,000 invested in C000007079, assuming 5% a year before costs, total costs come to $6 over 5 years, cutting the return by 0.01% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.01%) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $0 | $1 |
| Total costs | $1 | $3 | $6 |
| Value after costs | $10,499 | $11,573 | $12,756 |
| Impact on return, per year | 0.01% | 0.01% | 0.01% |
C000007079 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $29.7B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
C000007079 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE & CO. | $7.9B | 27.45% |
| BARCLAYS PLC | $4.6B | 16.08% |
| BANK OF AMERICA CORPORATION | $4.0B | 13.77% |
| U.S. Bancorp | $3.0B | 10.51% |
| TD Securities (USA) LLC | $3.0B | 10.30% |
| MORGAN STANLEY | $2.0B | 6.83% |
| THE GOLDMAN SACHS GROUP, INC. | $1.9B | 6.51% |
| Royal Bank of Canada | $978.3M | 3.41% |
| WELLS FARGO & COMPANY | $968.6M | 3.38% |
| PNC Capital Markets LLC | $506.5M | 1.76% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.