VFVA Fees and Costs — Vanguard U.s. Value Factor ETF
Data updated: 2026-07-29
The net expense ratio is 0.13%: a 0.11% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $275K in broker commissions, 0.0392% of average net assets, and portfolio turnover was 64%.
VFVA Fees and Expenses
Annual operating expenses and sales charges of VFVA. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.11% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.13% |
| Fee waiver | — |
| Net expense ratio | 0.13% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
VFVA Costs Over Time
On $10,000 invested in VFVA, assuming 5% a year before costs, total costs come to $108 over 5 years, cutting the return by 0.18% 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 0.13%) | $14 | $43 | $75 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $18 | $59 | $108 |
| Value after costs | $10,482 | $11,518 | $12,655 |
| Impact on return, per year | 0.18% | 0.18% | 0.18% |
VFVA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0392%
- Total broker commissions: $275K
- Bought from dealers (principal trades, not a cost): $121.6M
- Portfolio turnover (prospectus): 64%
- Securities on loan, average value: $38K
- Net income from securities lending: $2K (0.000% of average net assets)
VFVA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES FINANCIAL GROUP INC. | $70K | 28.21% |
| GUZMAN & COMPANY | $36K | 14.56% |
| ROSENBLATT SECURITIES INC. | $31K | 12.51% |
| BANK OF AMERICA CORPORATION | $24K | 9.57% |
| MORGAN STANLEY | $20K | 8.20% |
| Royal Bank of Canada | $20K | 8.01% |
| Robert W. Baird & Co. Incorporated | $19K | 7.52% |
| Piper Sandler & Co. | $11K | 4.42% |
| Nomura Holdings, Inc. | $9K | 3.52% |
| FMR LLC | $9K | 3.49% |
VFVA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $121.6M | 100.00% |
| BANK OF AMERICA CORPORATION | $43 | 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.