VFSIX Fees and Costs — Vanguard Short-Term Investment-Grade Fund, Institutional Shares
Data updated: 2026-09-28
The net expense ratio is 0.07%. There are no sales loads or redemption fees. Portfolio turnover was 73%.
VFSIX Fees and Expenses
Annual operating expenses and sales charges of VFSIX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.07% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.07% |
| Fee waiver | — |
| Net expense ratio | 0.07% |
| 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 |
VFSIX Costs Over Time
On $10,000 invested in VFSIX, assuming 5% a year before costs, total costs come to $45 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 0.07%) | $7 | $23 | $41 |
| Lost growth on money paid in costs | $0 | $1 | $4 |
| Total costs | $7 | $24 | $45 |
| Value after costs | $10,493 | $11,552 | $12,718 |
| Impact on return, per year | 0.07% | 0.07% | 0.07% |
VFSIX 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): $106.9B
- Portfolio turnover (prospectus): 73%
- Securities lending: none during the year
VFSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $29.9B | 32.23% |
| MORGAN STANLEY | $11.2B | 12.10% |
| THE GOLDMAN SACHS GROUP, INC. | $9.8B | 10.61% |
| JPMORGAN CHASE & CO. | $9.5B | 10.25% |
| CITADEL SECURITIES LP | $7.7B | 8.33% |
| WELLS FARGO & COMPANY | $7.3B | 7.86% |
| BANK OF AMERICA CORPORATION | $6.5B | 6.99% |
| BARCLAYS PLC | $4.6B | 4.99% |
| CITIGROUP INC. | $3.8B | 4.13% |
| BNP PARIBAS | $2.3B | 2.49% |
Vanguard Short-Term Investment-Grade Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VFSIX | Institutional Shares | 0.07% | none |
| VFSUX | Admiral Shares | 0.09% | none |
| VFSTX | 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.