C000038294 Fees and Costs — Vanguard High Dividend Yield Index Fund, Investor Shares
Data updated: 2026-09-28
The net expense ratio is 0.14%: a 0.12% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.6M in broker commissions, 0.0022% of average net assets, and portfolio turnover was 11%.
C000038294 Fees and Expenses
Annual operating expenses and sales charges of C000038294. Prospectus, as of February 28, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.12% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.14% |
| Fee waiver | — |
| Net expense ratio | 0.14% |
| 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 |
C000038294 Costs Over Time
On $10,000 invested in C000038294, assuming 5% a year before costs, total costs come to $90 over 5 years, cutting the return by 0.15% 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 0.14%) | $15 | $46 | $81 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $2 | $8 |
| Total costs | $15 | $49 | $90 |
| Value after costs | $10,485 | $11,527 | $12,672 |
| Impact on return, per year | 0.15% | 0.15% | 0.15% |
C000038294 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0022%
- Total broker commissions: $1.6M
- Bought from dealers (principal trades, not a cost): $5.7B
- Portfolio turnover (prospectus): 11%
- Securities on loan, average value: $16.8M
- Net income from securities lending: $246K (0.000% of average net assets)
C000038294 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS PLC | $458K | 30.32% |
| BANK OF AMERICA CORPORATION | $236K | 15.62% |
| CITIGROUP INC. | $212K | 14.04% |
| MORGAN STANLEY | $175K | 11.60% |
| CITADEL SECURITIES LP | $115K | 7.60% |
| VIRTU FINANCIAL, INC. | $93K | 6.19% |
| JEFFERIES FINANCIAL GROUP INC. | $62K | 4.13% |
| Royal Bank of Canada | $62K | 4.08% |
| JPMORGAN CHASE & CO. | $58K | 3.87% |
| WELLS FARGO & COMPANY | $38K | 2.54% |
C000038294 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $5.7B | 99.50% |
| JPMORGAN CHASE & CO. | $17.6M | 0.31% |
| MORGAN STANLEY | $7.7M | 0.14% |
| BARCLAYS PLC | $2.8M | 0.05% |
| BANK OF AMERICA CORPORATION | $503K | 0.01% |
| WELLS FARGO & COMPANY | $60K | 0.00% |
| VIRTU FINANCIAL, INC. | $972 | 0.00% |
| Mizuho Financial Group, Inc. | $126 | 0.00% |
Vanguard High Dividend Yield Index Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VYM | ETF Shares | 0.04% | — |
| VHYAX | Admiral Shares | 0.08% | none |
| C000038294 | Investor Shares | 0.14% | none |
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.