VEVFX Fees and Costs — Vanguard Explorer Value Fund, Investor Shares
Data updated: 2026-07-29
The net expense ratio is 0.54%: a 0.52% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $478K in broker commissions, 0.0456% of average net assets, and portfolio turnover was 28%.
VEVFX Fees and Expenses
Annual operating expenses and sales charges of VEVFX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.54% |
| Fee waiver | — |
| Net expense ratio | 0.54% |
| 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 |
VEVFX Costs Over Time
On $10,000 invested in VEVFX, assuming 5% a year before costs, total costs come to $369 over 5 years, cutting the return by 0.61% 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 0.54%) | $57 | $178 | $309 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $61 | $202 | $369 |
| Value after costs | $10,439 | $11,374 | $12,393 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
VEVFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0456%
- Total broker commissions: $478K
- Bought from dealers (principal trades, not a cost): $656.6M
- Portfolio turnover (prospectus): 28%
- Securities on loan, average value: $3.5M
- Net income from securities lending: $70K (0.007% of average net assets)
VEVFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TP ICAP GROUP PLC | $101K | 30.18% |
| BANK OF AMERICA CORPORATION | $43K | 12.75% |
| THE GOLDMAN SACHS GROUP, INC. | $39K | 11.81% |
| JPMORGAN CHASE & CO. | $35K | 10.35% |
| MORGAN STANLEY | $28K | 8.40% |
| VIRTU FINANCIAL, INC. | $26K | 7.83% |
| STIFEL FINANCIAL CORP. | $17K | 5.22% |
| Nomura Holdings, Inc. | $15K | 4.55% |
| BARCLAYS PLC | $15K | 4.54% |
| ANOS CAPITAL LLC | $15K | 4.36% |
VEVFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $654.3M | 99.64% |
| STEPHENS, INC. | $2.0M | 0.31% |
| BARCLAYS PLC | $99K | 0.02% |
| THE GOLDMAN SACHS GROUP, INC. | $76K | 0.01% |
| JEFFERIES FINANCIAL GROUP INC. | $56K | 0.01% |
| CITIGROUP INC. | $50K | 0.01% |
| JPMORGAN CHASE & CO. | $38K | 0.01% |
| MORGAN STANLEY | $18K | 0.00% |
| BERNSTEIN INSTITUTIONAL SERVICES LLC | $666 | 0.00% |
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.