VESIX Fees and Costs — Vanguard European Stock Index Fund, Institutional Shares
Data updated: 2026-09-28
The net expense ratio is 0.06%: a 0.05% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $614K in broker commissions, 0.0021% of average net assets, and portfolio turnover was 5%.
VESIX Fees and Expenses
Annual operating expenses and sales charges of VESIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.06% |
| Fee waiver | — |
| Net expense ratio | 0.06% |
| 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 |
VESIX Costs Over Time
On $10,000 invested in VESIX, assuming 5% a year before costs, total costs come to $40 over 5 years, cutting the return by 0.07% 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 0.06%) | $6 | $20 | $35 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $1 | $4 |
| Total costs | $7 | $22 | $40 |
| Value after costs | $10,493 | $11,555 | $12,723 |
| Impact on return, per year | 0.07% | 0.07% | 0.07% |
VESIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0021%
- Total broker commissions: $614K
- Bought from dealers (principal trades, not a cost): $4.9B
- Portfolio turnover (prospectus): 5%
- Securities on loan, average value: $151.7M
- Net income from securities lending: $3.4M (0.012% of average net assets)
VESIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| THE GOLDMAN SACHS GROUP, INC. | $91K | 15.82% |
| BNP PARIBAS | $81K | 14.13% |
| JPMORGAN CHASE & CO. | $79K | 13.76% |
| Nomura Holdings, Inc. | $73K | 12.64% |
| MORGAN STANLEY | $66K | 11.53% |
| BARCLAYS PLC | $56K | 9.72% |
| CITIGROUP INC. | $51K | 8.86% |
| UBS GROUP AG | $36K | 6.34% |
| BANK OF AMERICA CORPORATION | $21K | 3.64% |
| JEFFERIES FINANCIAL GROUP INC. | $20K | 3.55% |
VESIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $4.8B | 99.68% |
| JPMORGAN CHASE & CO. | $10.2M | 0.21% |
| THE GOLDMAN SACHS GROUP, INC. | $2.0M | 0.04% |
| CITIGROUP INC. | $1.3M | 0.03% |
| BANK OF AMERICA CORPORATION | $924K | 0.02% |
| BNP PARIBAS | $806K | 0.02% |
| MORGAN STANLEY | $258 | 0.00% |
| UBS GROUP AG | $151 | 0.00% |
| BARCLAYS PLC | $66 | 0.00% |
Vanguard European Stock 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 |
|---|---|---|---|
| VEUPX | Institutional Plus Shares | 0.05% | none |
| VESIX | Institutional Shares | 0.06% | none |
| VGK | ETF Shares | 0.06% | — |
| VEUSX | Admiral Shares | 0.08% | none |
| VEURX | Investor Shares | 0.23% | 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.