VSEQX Fees and Costs — Vanguard Strategic Equity Fund, Investor Shares
Data updated: 2026-08-28
The net expense ratio is 0.17%: a 0.16% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.5M in broker commissions, 0.0168% of average net assets, and portfolio turnover was 62%.
VSEQX Fees and Expenses
Annual operating expenses and sales charges of VSEQX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.16% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.17% |
| Fee waiver | — |
| Net expense ratio | 0.17% |
| 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 |
VSEQX Costs Over Time
On $10,000 invested in VSEQX, assuming 5% a year before costs, total costs come to $119 over 5 years, cutting the return by 0.20% 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 0.17%) | $18 | $56 | $98 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $3 | $11 |
| Total costs | $20 | $65 | $119 |
| Value after costs | $10,480 | $11,511 | $12,644 |
| Impact on return, per year | 0.20% | 0.20% | 0.20% |
VSEQX 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): 0.0168%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $1.6B
- Portfolio turnover (prospectus): 62%
- Securities on loan, average value: $4.0M
- Net income from securities lending: $48K (0.001% of average net assets)
VSEQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ROSENBLATT SECURITIES INC. | $209K | 15.65% |
| GUZMAN & COMPANY | $189K | 14.17% |
| JEFFERIES FINANCIAL GROUP INC. | $175K | 13.11% |
| Robert W. Baird & Co. Incorporated | $140K | 10.45% |
| BANK OF AMERICA CORPORATION | $137K | 10.23% |
| Piper Sandler & Co. | $116K | 8.71% |
| FMR LLC | $106K | 7.92% |
| Bank of Montr??al | $93K | 6.96% |
| MORGAN STANLEY | $92K | 6.85% |
| BERNSTEIN INSTITUTIONAL SERVICES LLC | $80K | 5.96% |
VSEQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $1.6B | 99.67% |
| BERNSTEIN INSTITUTIONAL SERVICES LLC | $5.4M | 0.33% |
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.