VGWAX Fees and Costs — Vanguard Global Wellington Fund, Admiral Shares
Data updated: 2026-07-29
The net expense ratio is 0.30%: a 0.28% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $324K in broker commissions, 0.0129% of average net assets, and portfolio turnover was 74%.
VGWAX Fees and Expenses
Annual operating expenses and sales charges of VGWAX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.28% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.30% |
| Fee waiver | — |
| Net expense ratio | 0.30% |
| 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 |
VGWAX Costs Over Time
On $10,000 invested in VGWAX, assuming 5% a year before costs, total costs come to $198 over 5 years, cutting the return by 0.33% 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 0.30%) | $32 | $99 | $173 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $33 | $108 | $198 |
| Value after costs | $10,467 | $11,468 | $12,564 |
| Impact on return, per year | 0.33% | 0.33% | 0.33% |
VGWAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0129%
- Total broker commissions: $324K
- Bought from dealers (principal trades, not a cost): $3.7B
- Portfolio turnover (prospectus): 74%
- Securities on loan, average value: $431K
- Net income from securities lending: $3K (0.000% of average net assets)
VGWAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| THE GOLDMAN SACHS GROUP, INC. | $38K | 15.04% |
| JEFFERIES FINANCIAL GROUP INC. | $35K | 13.82% |
| JPMORGAN CHASE & CO. | $33K | 13.22% |
| MORGAN STANLEY | $31K | 12.06% |
| BANK OF AMERICA CORPORATION | $26K | 10.20% |
| UBS GROUP AG | $25K | 9.76% |
| CITIGROUP INC. | $21K | 8.24% |
| BNP PARIBAS | $17K | 6.55% |
| BARCLAYS PLC | $14K | 5.71% |
| Nomura Holdings, Inc. | $14K | 5.41% |
VGWAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $1.2B | 39.22% |
| THE GOLDMAN SACHS GROUP, INC. | $329.5M | 10.55% |
| BANK OF AMERICA CORPORATION | $275.1M | 8.80% |
| JPMORGAN CHASE & CO. | $266.5M | 8.53% |
| MORGAN STANLEY | $264.5M | 8.47% |
| BARCLAYS PLC | $242.1M | 7.75% |
| CITIGROUP INC. | $159.1M | 5.09% |
| BNP PARIBAS | $139.5M | 4.46% |
| DEUTSCHE BANK AKTIENGESELLSCHAFT | $120.7M | 3.86% |
| CITADEL SECURITIES LP | $101.9M | 3.26% |
Vanguard Global Wellington Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VGWAX | Admiral Shares | 0.30% | none |
| VGWLX | Investor Shares | 0.43% | 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.