VGVT Fees and Costs — Vanguard Government Securities Active ETF
Data updated: 2026-08-28
The net expense ratio is 0.10%. There are no sales loads or redemption fees. Portfolio turnover was 141%.
VGVT Fees and Expenses
Annual operating expenses and sales charges of VGVT. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.10% |
| Fee waiver | — |
| Net expense ratio | 0.10% |
| 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 |
VGVT Costs Over Time
On $10,000 invested in VGVT, assuming 5% a year before costs, total costs come to $64 over 5 years, cutting the return by 0.10% 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 0.10%) | $10 | $33 | $58 |
| Lost growth on money paid in costs | $0 | $2 | $6 |
| Total costs | $10 | $35 | $64 |
| Value after costs | $10,490 | $11,542 | $12,699 |
| Impact on return, per year | 0.10% | 0.10% | 0.10% |
VGVT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $63.9M
- Portfolio turnover (prospectus): 141%
- Securities lending: none during the year
VGVT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $10.3M | 18.96% |
| CITADEL SECURITIES LP | $6.9M | 12.66% |
| JPMORGAN CHASE & CO. | $6.2M | 11.41% |
| BARCLAYS PLC | $6.1M | 11.24% |
| DEUTSCHE BANK AKTIENGESELLSCHAFT | $6.1M | 11.22% |
| BNP PARIBAS | $5.4M | 10.00% |
| Vanguard Market Liquidity Fund | $4.0M | 7.39% |
| THE GOLDMAN SACHS GROUP, INC. | $3.5M | 6.54% |
| CITIGROUP INC. | $3.0M | 5.51% |
| BANK OF AMERICA CORPORATION | $2.8M | 5.08% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.