VMGMX Fees and Costs — Vanguard Mid-Cap Growth Index Fund, Admiral Shares
Data updated: 2026-08-28
The net expense ratio is 0.07%: a 0.06% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $645K in broker commissions, 0.0021% of average net assets, and portfolio turnover was 23%.
VMGMX Fees and Expenses
Annual operating expenses and sales charges of VMGMX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.06% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.07% |
| Fee waiver | — |
| Net expense ratio | 0.07% |
| 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 |
VMGMX Costs Over Time
On $10,000 invested in VMGMX, assuming 5% a year before costs, total costs come to $46 over 5 years, cutting the return by 0.08% 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 0.07%) | $7 | $23 | $41 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $1 | $4 |
| Total costs | $8 | $25 | $46 |
| Value after costs | $10,492 | $11,551 | $12,717 |
| Impact on return, per year | 0.08% | 0.08% | 0.08% |
VMGMX 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): 0.0021%
- Total broker commissions: $645K
- Bought from dealers (principal trades, not a cost): $1.7B
- Portfolio turnover (prospectus): 23%
- Securities on loan, average value: $29.4M
- Net income from securities lending: $8.8M (0.028% of average net assets)
VMGMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP INC. | $209K | 33.74% |
| BARCLAYS PLC | $95K | 15.25% |
| MORGAN STANLEY | $92K | 14.90% |
| CITADEL SECURITIES LP | $63K | 10.18% |
| BANK OF AMERICA CORPORATION | $53K | 8.50% |
| THE GOLDMAN SACHS GROUP, INC. | $38K | 6.20% |
| Mizuho Financial Group, Inc. | $28K | 4.46% |
| Royal Bank of Canada | $15K | 2.40% |
| JPMORGAN CHASE & CO. | $14K | 2.32% |
| Cowen and Company, LLC | $13K | 2.05% |
VMGMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $1.7B | 97.63% |
| JPMORGAN CHASE & CO. | $27.4M | 1.57% |
| MORGAN STANLEY | $11.4M | 0.65% |
| THE GOLDMAN SACHS GROUP, INC. | $2.5M | 0.14% |
| CITIGROUP INC. | $910 | 0.00% |
Vanguard Mid-Cap Growth 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 |
|---|---|---|---|
| VOT | ETF Shares | 0.05% | none |
| VMGMX | Admiral Shares | 0.07% | none |
| VMGIX | Investor Shares | 0.19% | 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.