VPLS Fees and Costs — Vanguard Core-Plus Bond ETF
Data updated: 2026-08-28
The net expense ratio is 0.20%: a 0.17% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 392%.
VPLS Fees and Expenses
Annual operating expenses and sales charges of VPLS. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.17% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.20% |
| Fee waiver | — |
| Net expense ratio | 0.20% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
VPLS Costs Over Time
On $10,000 invested in VPLS, assuming 5% a year before costs, total costs come to $127 over 5 years, cutting the return by 0.21% 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 0.20%) | $21 | $66 | $116 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $21 | $69 | $127 |
| Value after costs | $10,479 | $11,507 | $12,636 |
| Impact on return, per year | 0.21% | 0.21% | 0.21% |
VPLS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $6.7B
- Portfolio turnover (prospectus): 392%
- Securities lending: none during the year
VPLS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $918.4M | 15.40% |
| Mizuho Financial Group, Inc. | $918.3M | 15.40% |
| THE GOLDMAN SACHS GROUP, INC. | $780.3M | 13.09% |
| Vanguard Market Liquidity Fund | $762.6M | 12.79% |
| WELLS FARGO & COMPANY | $522.9M | 8.77% |
| BARCLAYS PLC | $461.1M | 7.73% |
| JPMORGAN CHASE & CO. | $449.3M | 7.53% |
| Bank of Montr??al | $448.2M | 7.52% |
| BANK OF AMERICA CORPORATION | $440.5M | 7.39% |
| CITIGROUP INC. | $261.2M | 4.38% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.