C000155402 Fees and Costs — Vanguard Institutional Target Retirement 2030 Fund, Institutional Shares
Data updated: 2022-03-01
The net expense ratio is 0.09%. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $97K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 12%.
C000155402 Fees and Expenses
Annual operating expenses and sales charges of C000155402. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.09% |
| Fee waiver | — |
| Net expense ratio | 0.09% |
| 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 |
C000155402 Costs Over Time
On $10,000 invested in C000155402, assuming 5% a year before costs, total costs come to $57 over 5 years, cutting the return by 0.09% 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 0.09%) | $9 | $30 | $52 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $1 | $5 |
| Total costs | $9 | $31 | $57 |
| Value after costs | $10,491 | $11,545 | $12,705 |
| Impact on return, per year | 0.09% | 0.09% | 0.09% |
C000155402 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0002%
- Total broker commissions: $97K
- Bought from dealers (principal trades, not a cost): $30.9B
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
C000155402 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $34K | 35.52% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $32K | 33.28% |
| BofA Securities, Inc. | $30K | 31.20% |
C000155402 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $7.8B | 25.20% |
| Vanguard Total International Bond II Index Fund | $5.9B | 19.16% |
| Vanguard Total Stock Market Index Fund | $4.3B | 13.77% |
| Vanguard Total International Bond Index Fund | $3.9B | 12.74% |
| Vanguard Total Bond Market II Index Fund | $3.9B | 12.57% |
| Vanguard Total International Stock Index Fund | $3.6B | 11.76% |
| BofA Securities, Inc. | $1.1B | 3.44% |
| Morgan Stanley & Co. LLC | $414.7M | 1.34% |
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.