VBISX Fees and Costs — Vanguard Short-Term Bond Index Fund, Investor Shares
Data updated: 2026-08-28
The net expense ratio is 0.15%: a 0.14% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 55%.
VBISX Fees and Expenses
Annual operating expenses and sales charges of VBISX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.14% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| 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 |
VBISX Costs Over Time
On $10,000 invested in VBISX, assuming 5% a year before costs, total costs come to $95 over 5 years, cutting the return by 0.16% 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 0.15%) | $16 | $50 | $87 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $52 | $95 |
| Value after costs | $10,484 | $11,524 | $12,667 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
VBISX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $82.5B
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
VBISX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $14.0B | 20.83% |
| THE GOLDMAN SACHS GROUP, INC. | $12.4B | 18.51% |
| JPMORGAN CHASE & CO. | $9.1B | 13.62% |
| CITADEL SECURITIES LP | $9.0B | 13.40% |
| MORGAN STANLEY | $4.8B | 7.17% |
| MarketAxess Corporation | $4.4B | 6.57% |
| CITIGROUP INC. | $3.5B | 5.16% |
| BARCLAYS PLC | $3.3B | 4.97% |
| BNP PARIBAS | $3.3B | 4.96% |
| BANK OF AMERICA CORPORATION | $3.2B | 4.80% |
Vanguard Short-Term Bond 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 |
|---|---|---|---|
| VBIPX | Institutional Plus Shares | 0.02% | none |
| BSV | ETF Shares | 0.03% | — |
| VBITX | Institutional Shares | 0.03% | none |
| VBIRX | Admiral Shares | 0.06% | none |
| VBISX | Investor Shares | 0.15% | 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.