VQNPX Fees and Costs — Vanguard Growth and Income Fund, Investor Shares
Data updated: 2026-08-28
The net expense ratio is 0.39%: a 0.37% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.9M in broker commissions, 0.0184% of average net assets, and portfolio turnover was 94%.
VQNPX Fees and Expenses
Annual operating expenses and sales charges of VQNPX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.37% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.39% |
| Fee waiver | — |
| Net expense ratio | 0.39% |
| 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 |
VQNPX Costs Over Time
On $10,000 invested in VQNPX, assuming 5% a year before costs, total costs come to $258 over 5 years, cutting the return by 0.43% 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 0.39%) | $41 | $129 | $224 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $43 | $141 | $258 |
| Value after costs | $10,457 | $11,435 | $12,504 |
| Impact on return, per year | 0.43% | 0.43% | 0.43% |
VQNPX 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): 0.0184%
- Total broker commissions: $2.9M
- Bought from dealers (principal trades, not a cost): $13.1B
- Portfolio turnover (prospectus): 94%
- Securities on loan, average value: $5.3M
- Net income from securities lending: $37K (0.000% of average net assets)
VQNPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| THE GOLDMAN SACHS GROUP, INC. | $393K | 18.29% |
| JPMORGAN CHASE & CO. | $323K | 15.03% |
| Nomura Holdings, Inc. | $230K | 10.70% |
| BANK OF AMERICA CORPORATION | $222K | 10.34% |
| UBS GROUP AG | $222K | 10.33% |
| MORGAN STANLEY | $190K | 8.85% |
| SOCIETE GENERALE | $186K | 8.63% |
| CITIGROUP INC. | $181K | 8.42% |
| Royal Bank of Canada | $102K | 4.73% |
| BARCLAYS PLC | $100K | 4.65% |
VQNPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS PLC | $8.1B | 61.63% |
| Vanguard Market Liquidity Fund | $4.9B | 37.34% |
| BANK OF AMERICA CORPORATION | $102.4M | 0.78% |
| JPMORGAN CHASE & CO. | $25.5M | 0.20% |
| Nomura Holdings, Inc. | $2.9M | 0.02% |
| THE GOLDMAN SACHS GROUP, INC. | $2.3M | 0.02% |
| MORGAN STANLEY | $1.8M | 0.01% |
Vanguard Growth and 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 |
|---|---|---|---|
| VGIAX | Admiral Shares | 0.28% | none |
| VQNPX | Investor Shares | 0.39% | 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.