VEXMX Fees and Costs — Vanguard Extended Market Index Fund, Investor Shares
Data updated: 2026-08-28
The net expense ratio is 0.19%: a 0.18% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $6.3M in broker commissions, 0.0081% of average net assets, and portfolio turnover was 12%.
VEXMX Fees and Expenses
Annual operating expenses and sales charges of VEXMX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.18% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.19% |
| Fee waiver | — |
| Net expense ratio | 0.19% |
| 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 |
VEXMX Costs Over Time
On $10,000 invested in VEXMX, assuming 5% a year before costs, total costs come to $126 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 0.19%) | $20 | $63 | $110 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $3 | $11 |
| Total costs | $21 | $69 | $126 |
| Value after costs | $10,479 | $11,508 | $12,637 |
| Impact on return, per year | 0.21% | 0.21% | 0.21% |
VEXMX 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): 0.0081%
- Total broker commissions: $6.3M
- Bought from dealers (principal trades, not a cost): $8.0B
- Portfolio turnover (prospectus): 12%
- Securities on loan, average value: $1.5B
- Net income from securities lending: $81.7M (0.104% of average net assets)
VEXMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP INC. | $1.5M | 26.81% |
| JPMORGAN CHASE & CO. | $1.4M | 23.87% |
| BARCLAYS PLC | $1.0M | 18.09% |
| BANK OF AMERICA CORPORATION | $500K | 8.68% |
| THE GOLDMAN SACHS GROUP, INC. | $363K | 6.31% |
| Mizuho Financial Group, Inc. | $291K | 5.06% |
| JonesTrading Institutional Services LLC | $288K | 5.00% |
| MORGAN STANLEY | $154K | 2.67% |
| Cowen and Company, LLC | $104K | 1.81% |
| Piper Sandler & Co. | $98K | 1.70% |
VEXMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $7.6B | 95.38% |
| JPMORGAN CHASE & CO. | $122.8M | 1.55% |
| THE GOLDMAN SACHS GROUP, INC. | $93.3M | 1.18% |
| BANK OF AMERICA CORPORATION | $43.0M | 0.54% |
| MORGAN STANLEY | $32.3M | 0.41% |
| CITIGROUP INC. | $23.3M | 0.29% |
| JEFFERIES FINANCIAL GROUP INC. | $19.7M | 0.25% |
| UBS GROUP AG | $16.0M | 0.20% |
| BARCLAYS PLC | $12.2M | 0.15% |
| Robert W. Baird & Co. Incorporated | $4.3M | 0.05% |
Vanguard Extended Market 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 |
|---|---|---|---|
| VSEMX | Institutional Select Shares | 0.02% | none |
| VEMPX | Institutional Plus Shares | 0.04% | none |
| VIEIX | Institutional Shares | 0.04% | none |
| VEXAX | Admiral Shares | 0.05% | none |
| VXF | ETF Shares | 0.05% | — |
| VEXMX | Investor Shares | 0.19% | 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.