VSCPX Fees and Costs — Vanguard Small-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 $10.7M in broker commissions, 0.0069% of average net assets, and portfolio turnover was 17%.
VSCPX Fees and Expenses
Annual operating expenses and sales charges of VSCPX. 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 |
VSCPX Costs Over Time
On $10,000 invested in VSCPX, assuming 5% a year before costs, total costs come to $17 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 0.02%) | $2 | $7 | $12 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $0 | $2 |
| Total costs | $3 | $9 | $17 |
| Value after costs | $10,497 | $11,567 | $12,746 |
| Impact on return, per year | 0.03% | 0.03% | 0.03% |
VSCPX 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): 0.0069%
- Total broker commissions: $10.7M
- Bought from dealers (principal trades, not a cost): $10.4B
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $1.5B
- Net income from securities lending: $48.2M (0.031% of average net assets)
VSCPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP INC. | $1.7M | 17.46% |
| MORGAN STANLEY | $1.7M | 17.30% |
| Mizuho Financial Group, Inc. | $1.5M | 15.21% |
| CITADEL SECURITIES LP | $1.2M | 12.67% |
| BARCLAYS PLC | $1.0M | 10.31% |
| THE GOLDMAN SACHS GROUP, INC. | $918K | 9.34% |
| BANK OF AMERICA CORPORATION | $614K | 6.25% |
| Royal Bank of Canada | $436K | 4.43% |
| VIRTU FINANCIAL, INC. | $373K | 3.79% |
| JPMORGAN CHASE & CO. | $318K | 3.24% |
VSCPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $9.4B | 90.50% |
| THE GOLDMAN SACHS GROUP, INC. | $265.7M | 2.55% |
| BARCLAYS PLC | $217.4M | 2.09% |
| JPMORGAN CHASE & CO. | $214.8M | 2.06% |
| MORGAN STANLEY | $81.4M | 0.78% |
| BANK OF AMERICA CORPORATION | $76.0M | 0.73% |
| CITIGROUP INC. | $67.5M | 0.65% |
| UBS GROUP AG | $30.2M | 0.29% |
| JEFFERIES FINANCIAL GROUP INC. | $26.4M | 0.25% |
| Robert W. Baird & Co. Incorporated | $10.2M | 0.10% |
Vanguard Small-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 |
|---|---|---|---|
| VSCPX | Institutional Plus Shares | 0.02% | none |
| VB | ETF Shares | 0.03% | — |
| VSCIX | Institutional Shares | 0.03% | none |
| VSMAX | Admiral Shares | 0.05% | none |
| NAESX | 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.