VCPAX Fees and Costs — Vanguard Core-Plus Bond Fund, Admiral Shares
Data updated: 2026-08-28
The net expense ratio is 0.20%: a 0.17% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 384%.
VCPAX Fees and Expenses
Annual operating expenses and sales charges of VCPAX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.17% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.20% |
| Fee waiver | — |
| Net expense ratio | 0.20% |
| 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 |
VCPAX Costs Over Time
On $10,000 invested in VCPAX, assuming 5% a year before costs, total costs come to $127 over 5 years, cutting the return by 0.21% 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 0.20%) | $21 | $66 | $116 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $21 | $69 | $127 |
| Value after costs | $10,479 | $11,507 | $12,636 |
| Impact on return, per year | 0.21% | 0.21% | 0.21% |
VCPAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $8.7B
- Portfolio turnover (prospectus): 384%
- Securities lending: none during the year
VCPAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Mizuho Financial Group, Inc. | $1.3B | 16.60% |
| MORGAN STANLEY | $1.3B | 16.29% |
| THE GOLDMAN SACHS GROUP, INC. | $1.1B | 14.19% |
| Vanguard Market Liquidity Fund | $843.7M | 10.71% |
| Bank of Montr??al | $654.3M | 8.31% |
| BANK OF AMERICA CORPORATION | $626.3M | 7.95% |
| BARCLAYS PLC | $615.6M | 7.82% |
| WELLS FARGO & COMPANY | $593.3M | 7.53% |
| JPMORGAN CHASE & CO. | $545.8M | 6.93% |
| CITIGROUP INC. | $290.3M | 3.69% |
Vanguard Core-Plus Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VCPAX | Admiral Shares | 0.20% | none |
| VCPIX | Investor Shares | 0.30% | 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.