VGHY Fees and Costs — Vanguard High-Yield Active ETF
Data updated: 2026-09-28
The net expense ratio is 0.22%: a 0.08% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 20%.
VGHY Fees and Expenses
Annual operating expenses and sales charges of VGHY. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.08% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.22% |
| Fee waiver | — |
| Net expense ratio | 0.22% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
VGHY Costs Over Time
On $10,000 invested in VGHY, assuming 5% a year before costs, total costs come to $140 over 5 years, cutting the return by 0.23% 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 0.22%) | $23 | $73 | $127 |
| Lost growth on money paid in costs | $0 | $4 | $13 |
| Total costs | $23 | $76 | $140 |
| Value after costs | $10,477 | $11,500 | $12,623 |
| Impact on return, per year | 0.23% | 0.23% | 0.23% |
VGHY 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): $135.7M
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
VGHY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $62.0M | 49.21% |
| THE GOLDMAN SACHS GROUP, INC. | $19.9M | 15.81% |
| JPMORGAN CHASE & CO. | $9.7M | 7.72% |
| MORGAN STANLEY | $7.5M | 5.92% |
| CITIGROUP INC. | $5.8M | 4.58% |
| WELLS FARGO & COMPANY | $5.2M | 4.11% |
| BANK OF AMERICA CORPORATION | $4.8M | 3.82% |
| BARCLAYS PLC | $4.6M | 3.64% |
| CITADEL SECURITIES LP | $4.2M | 3.37% |
| JEFFERIES FINANCIAL GROUP INC. | $2.3M | 1.82% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.