VTBIX Fees and Costs — Vanguard Total Bond Market II Index Fund, Investor Shares
Data updated: 2026-08-28
The net expense ratio is 0.09%: a 0.08% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 107%.
VTBIX Fees and Expenses
Annual operating expenses and sales charges of VTBIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.08% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.09% |
| Fee waiver | — |
| Net expense ratio | 0.09% |
| 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 |
VTBIX Costs Over Time
On $10,000 invested in VTBIX, assuming 5% a year before costs, total costs come to $57 over 5 years, cutting the return by 0.09% 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 0.09%) | $9 | $30 | $52 |
| Lost growth on money paid in costs | $0 | $1 | $5 |
| Total costs | $9 | $31 | $57 |
| Value after costs | $10,491 | $11,545 | $12,705 |
| Impact on return, per year | 0.09% | 0.09% | 0.09% |
VTBIX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.12T
- Portfolio turnover (prospectus): 107%
- Securities lending: none during the year
VTBIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $400.8B | 43.00% |
| CITADEL SECURITIES LP | $131.4B | 14.10% |
| MORGAN STANLEY | $78.1B | 8.38% |
| BANK OF AMERICA CORPORATION | $74.2B | 7.97% |
| HSBC HOLDINGS PLC | $61.5B | 6.60% |
| THE GOLDMAN SACHS GROUP, INC. | $43.3B | 4.64% |
| JEFFERIES FINANCIAL GROUP INC. | $39.8B | 4.27% |
| DEUTSCHE BANK AKTIENGESELLSCHAFT | $37.5B | 4.02% |
| JPMORGAN CHASE & CO. | $32.8B | 3.52% |
| WELLS FARGO & COMPANY | $32.6B | 3.50% |
Vanguard Total Bond Market II 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 |
|---|---|---|---|
| VTBNX | Institutional Shares | 0.02% | none |
| VTBIX | Investor Shares | 0.09% | 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.