C000007885 Fees and Costs — Vanguard Capital Value Fund, Investor Shares
Data updated: 2020-08-31
The net expense ratio is 0.29%: a 0.27% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $224K in broker commissions, 0.0285% of average net assets, and portfolio turnover was 46%.
C000007885 Fees and Expenses
Annual operating expenses and sales charges of C000007885. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.27% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| 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 |
C000007885 Costs Over Time
On $10,000 invested in C000007885, assuming 5% a year before costs, total costs come to $202 over 5 years, cutting the return by 0.33% 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 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $33 | $110 | $202 |
| Value after costs | $10,467 | $11,466 | $12,561 |
| Impact on return, per year | 0.33% | 0.33% | 0.33% |
C000007885 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0285%
- Total broker commissions: $224K
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 46%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $31K (0.004% of average net assets)
C000007885 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL INC. | $28K | 18.61% |
| Goldman Sachs & Co. LLC | $24K | 16.10% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $16K | 11.00% |
| Citigroup Global Markets Inc. | $14K | 9.06% |
| Sanford C. Bernstein & Co., LLC | $13K | 8.82% |
| Morgan Stanley & Co. LLC | $13K | 8.75% |
| J.P. Morgan Securities LLC | $12K | 8.23% |
| UBS Securities LLC | $10K | 6.91% |
| Credit Suisse Securities (USA) LLC | $10K | 6.52% |
| RBC CAPITAL MARKETS LLC | $9K | 6.01% |
C000007885 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ABN AMRO Securities (USA) LLC | $1.9B | 87.28% |
| VANGUARD MARKET LIQUIDITY FUND | $159.9M | 7.20% |
| Credit Suisse Securities (USA) LLC | $23.8M | 1.07% |
| Goldman Sachs & Co. LLC | $21.0M | 0.94% |
| Morgan Stanley & Co. LLC | $19.7M | 0.89% |
| RBC CAPITAL MARKETS LLC | $15.7M | 0.71% |
| Citigroup Global Markets Inc. | $12.4M | 0.56% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $10.6M | 0.48% |
| BARCLAYS CAPITAL INC. | $10.0M | 0.45% |
| J.P. Morgan Securities LLC | $9.4M | 0.42% |
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.