VFISX Fees and Costs — Vanguard Short-Term Treasury Fund, Investor Shares
Data updated: 2026-09-28
The net expense ratio is 0.20%: a 0.19% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 421%.
VFISX Fees and Expenses
Annual operating expenses and sales charges of VFISX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.19% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| 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 |
VFISX Costs Over Time
On $10,000 invested in VFISX, 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% |
VFISX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $52.2B
- Portfolio turnover (prospectus): 421%
- Securities lending: none during the year
VFISX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| THE GOLDMAN SACHS GROUP, INC. | $9.0B | 19.90% |
| JPMORGAN CHASE & CO. | $8.2B | 18.14% |
| MORGAN STANLEY | $7.7B | 17.06% |
| WELLS FARGO & COMPANY | $4.3B | 9.55% |
| Vanguard Market Liquidity Fund | $4.0B | 8.86% |
| CITADEL SECURITIES LP | $3.4B | 7.50% |
| CITIGROUP INC. | $2.5B | 5.52% |
| BANK OF AMERICA CORPORATION | $2.4B | 5.21% |
| BARCLAYS PLC | $2.0B | 4.50% |
| BNP PARIBAS | $1.7B | 3.77% |
Vanguard Short-Term Treasury Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VFIRX | Admiral Shares | 0.10% | none |
| VFISX | Investor Shares | 0.20% | 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.