C000198464 Fees and Costs — Vanguard U.s. Liquidity Factor ETF
Data updated: 2022-10-31
The net expense ratio is 0.13%: a 0.05% management fee plus 0.08% other expenses. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $15K in broker commissions, 0.0294% of average net assets, and portfolio turnover was 64%.
C000198464 Fees and Expenses
Annual operating expenses and sales charges of C000198464. Prospectus, as of March 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.13% |
| Fee waiver | — |
| Net expense ratio | 0.13% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
C000198464 Costs Over Time
On $10,000 invested in C000198464, assuming 5% a year before costs, total costs come to $101 over 5 years, cutting the return by 0.17% 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 0.13%) | $14 | $43 | $75 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $3 | $9 |
| Total costs | $17 | $55 | $101 |
| Value after costs | $10,483 | $11,521 | $12,661 |
| Impact on return, per year | 0.17% | 0.17% | 0.17% |
C000198464 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0294%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $14.0M
- Portfolio turnover (prospectus): 64%
- Securities on loan, average value: $194
- Net income from securities lending: $2 (0.000% of average net assets)
C000198464 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $6K | 40.74% |
| Goldman Sachs & Co. LLC | $4K | 25.95% |
| BofA Securities, Inc. | $2K | 14.84% |
| Jefferies LLC | $2K | 13.43% |
| Sanford C. Bernstein & Co., LLC | $537 | 3.67% |
| National Financial Services LLC | $162 | 1.11% |
| Instinet, LLC | $40 | 0.27% |
C000198464 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $13.7M | 97.28% |
| Morgan Stanley & Co. LLC | $382K | 2.72% |
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.