VMCPX Fees and Costs — Vanguard Mid-Cap Index Fund, Institutional Plus Shares
Data updated: 2026-08-28
The net expense ratio is 0.02%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5.7M in broker commissions, 0.0030% of average net assets, and portfolio turnover was 16%.
VMCPX Fees and Expenses
Annual operating expenses and sales charges of VMCPX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.02% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.02% |
| Fee waiver | — |
| Net expense ratio | 0.02% |
| 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 |
VMCPX Costs Over Time
On $10,000 invested in VMCPX, assuming 5% a year before costs, total costs come to $15 over 5 years, cutting the return by 0.02% 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 0.02%) | $2 | $7 | $12 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $0 | $1 |
| Total costs | $2 | $8 | $15 |
| Value after costs | $10,498 | $11,568 | $12,748 |
| Impact on return, per year | 0.02% | 0.02% | 0.02% |
VMCPX 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): 0.0030%
- Total broker commissions: $5.7M
- Bought from dealers (principal trades, not a cost): $11.7B
- Portfolio turnover (prospectus): 16%
- Securities on loan, average value: $90.8M
- Net income from securities lending: $22.7M (0.012% of average net assets)
VMCPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP INC. | $1.8M | 34.27% |
| MORGAN STANLEY | $844K | 15.66% |
| BARCLAYS PLC | $657K | 12.17% |
| BANK OF AMERICA CORPORATION | $519K | 9.63% |
| CITADEL SECURITIES LP | $515K | 9.56% |
| THE GOLDMAN SACHS GROUP, INC. | $351K | 6.50% |
| Mizuho Financial Group, Inc. | $269K | 4.98% |
| Royal Bank of Canada | $148K | 2.74% |
| JEFFERIES FINANCIAL GROUP INC. | $132K | 2.45% |
| VIRTU FINANCIAL, INC. | $110K | 2.04% |
VMCPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $11.4B | 98.13% |
| JPMORGAN CHASE & CO. | $140.8M | 1.21% |
| MORGAN STANLEY | $63.7M | 0.55% |
| THE GOLDMAN SACHS GROUP, INC. | $13.7M | 0.12% |
Vanguard Mid-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 |
|---|---|---|---|
| VMCPX | Institutional Plus Shares | 0.02% | none |
| VMCIX | Institutional Shares | 0.03% | none |
| VO | ETF Shares | 0.03% | — |
| VIMAX | Admiral Shares | 0.05% | none |
| VIMSX | 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.