VGYAX Fees and Costs — Vanguard Global Wellesley Income Fund, Admiral Shares
Data updated: 2026-07-29
The net expense ratio is 0.30%: a 0.27% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $32K in broker commissions, 0.0055% of average net assets, and portfolio turnover was 102%.
VGYAX Fees and Expenses
Annual operating expenses and sales charges of VGYAX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.27% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| 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 |
VGYAX Costs Over Time
On $10,000 invested in VGYAX, assuming 5% a year before costs, total costs come to $194 over 5 years, cutting the return by 0.32% 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 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $32 | $106 | $194 |
| Value after costs | $10,468 | $11,470 | $12,569 |
| Impact on return, per year | 0.32% | 0.32% | 0.32% |
VGYAX 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): 0.0055%
- Total broker commissions: $32K
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 102%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $31K (0.005% of average net assets)
VGYAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS PLC | $4K | 14.15% |
| BNP PARIBAS | $4K | 12.78% |
| THE GOLDMAN SACHS GROUP, INC. | $3K | 12.24% |
| BANK OF AMERICA CORPORATION | $3K | 12.20% |
| CITIGROUP INC. | $3K | 10.55% |
| MORGAN STANLEY | $3K | 9.95% |
| UBS GROUP AG | $2K | 8.42% |
| Oppenheimer & Co. Inc. | $2K | 7.65% |
| JEFFERIES FINANCIAL GROUP INC. | $2K | 7.38% |
| JPMORGAN CHASE & CO. | $1K | 4.69% |
VGYAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $364.6M | 32.11% |
| THE GOLDMAN SACHS GROUP, INC. | $131.2M | 11.56% |
| MORGAN STANLEY | $122.3M | 10.77% |
| JPMORGAN CHASE & CO. | $121.6M | 10.71% |
| BANK OF AMERICA CORPORATION | $108.4M | 9.55% |
| BARCLAYS PLC | $97.4M | 8.58% |
| BNP PARIBAS | $58.6M | 5.16% |
| DEUTSCHE BANK AKTIENGESELLSCHAFT | $50.8M | 4.48% |
| CITIGROUP INC. | $43.1M | 3.80% |
| CITADEL SECURITIES LP | $37.3M | 3.28% |
Vanguard Global Wellesley Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VGYAX | Admiral Shares | 0.30% | none |
| VGWIX | 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.