C000155622 Fees and Costs — Vanguard Alternative Strategies Fund, Investor Shares
Data updated: 2023-03-31
The net expense ratio is 0.51%. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $14K in broker commissions, 0.0122% of average net assets, and portfolio turnover was 112%.
C000155622 Fees and Expenses
Annual operating expenses and sales charges of C000155622. Prospectus, as of February 28, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.18% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 0.51% |
| Fee waiver | — |
| Net expense ratio | 0.51% |
| 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 |
C000155622 Costs Over Time
On $10,000 invested in C000155622, assuming 5% a year before costs, total costs come to $330 over 5 years, cutting the return by 0.55% 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 0.51%) | $54 | $168 | $293 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $55 | $180 | $330 |
| Value after costs | $10,445 | $11,396 | $12,433 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
C000155622 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0122%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $404.7M
- Portfolio turnover (prospectus): 112%
- Securities lending: none during the year
C000155622 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| National Financial Services LLC | $4K | 31.04% |
| Goldman Sachs & Co. LLC | $3K | 20.39% |
| Jefferies LLC | $2K | 14.18% |
| Morgan Stanley & Co. LLC | $2K | 13.28% |
| Sanford C. Bernstein & Co., LLC | $2K | 11.37% |
| Instinet, LLC | $566 | 4.01% |
| BofA Securities, Inc. | $417 | 2.95% |
| Credit Suisse Securities (USA) LLC | $390 | 2.76% |
| Redburn (Europe) Limited | $2 | 0.01% |
C000155622 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $404.7M | 100.00% |
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.