VLISX Fees and Costs — Vanguard Large-Cap Index Fund, Institutional Shares
Data updated: 2026-08-28
The net expense ratio is 0.03%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $140K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 4%.
VLISX Fees and Expenses
Annual operating expenses and sales charges of VLISX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.03% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.03% |
| Fee waiver | — |
| Net expense ratio | 0.03% |
| 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 |
VLISX Costs Over Time
On $10,000 invested in VLISX, assuming 5% a year before costs, total costs come to $19 over 5 years, cutting the return by 0.03% 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 0.03%) | $3 | $10 | $17 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $0 | $2 |
| Total costs | $3 | $10 | $19 |
| Value after costs | $10,497 | $11,566 | $12,744 |
| Impact on return, per year | 0.03% | 0.03% | 0.03% |
VLISX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0002%
- Total broker commissions: $140K
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 4%
- Securities on loan, average value: $3.9M
- Net income from securities lending: $1.2M (0.002% of average net assets)
VLISX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP INC. | $34K | 25.97% |
| Mizuho Financial Group, Inc. | $19K | 14.41% |
| MORGAN STANLEY | $16K | 11.80% |
| BARCLAYS PLC | $13K | 9.97% |
| CITADEL SECURITIES LP | $13K | 9.47% |
| THE GOLDMAN SACHS GROUP, INC. | $12K | 9.21% |
| BANK OF AMERICA CORPORATION | $11K | 8.50% |
| Royal Bank of Canada | $6K | 4.19% |
| Cowen and Company, LLC | $5K | 3.40% |
| JPMORGAN CHASE & CO. | $4K | 3.08% |
VLISX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $2.4B | 99.00% |
| THE GOLDMAN SACHS GROUP, INC. | $11.9M | 0.49% |
| JPMORGAN CHASE & CO. | $8.5M | 0.35% |
| MORGAN STANLEY | $3.6M | 0.15% |
| WELLS FARGO & COMPANY | $121K | 0.00% |
| CITADEL SECURITIES LP | $39K | 0.00% |
| BANK OF AMERICA CORPORATION | $20K | 0.00% |
| FMR LLC | $14K | 0.00% |
| ABN AMRO Bank N.V. | $13K | 0.00% |
| JANE STREET GROUP, LLC | $4K | 0.00% |
Vanguard Large-Cap Index Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VLISX | Institutional Shares | 0.03% | none |
| VV | ETF Shares | 0.03% | none |
| VLCAX | Admiral Shares | 0.05% | none |
| VLACX | Investor Shares | 0.17% | 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.