VTMGX Fees and Costs — Vanguard Developed Markets Index Fund, Admiral Shares
Data updated: 2026-08-28
The net expense ratio is 0.05%: a 0.04% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $4.6M in broker commissions, 0.0020% of average net assets, and portfolio turnover was 4%.
VTMGX Fees and Expenses
Annual operating expenses and sales charges of VTMGX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.04% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.05% |
| Fee waiver | — |
| Net expense ratio | 0.05% |
| 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 |
VTMGX Costs Over Time
On $10,000 invested in VTMGX, assuming 5% a year before costs, total costs come to $33 over 5 years, cutting the return by 0.05% 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 0.05%) | $5 | $17 | $29 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $1 | $3 |
| Total costs | $5 | $18 | $33 |
| Value after costs | $10,495 | $11,558 | $12,730 |
| Impact on return, per year | 0.05% | 0.05% | 0.05% |
VTMGX 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): 0.0020%
- Total broker commissions: $4.6M
- Bought from dealers (principal trades, not a cost): $55.1B
- Portfolio turnover (prospectus): 4%
- Securities on loan, average value: $2.0B
- Net income from securities lending: $68.3M (0.029% of average net assets)
VTMGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE & CO. | $598K | 16.37% |
| THE GOLDMAN SACHS GROUP, INC. | $557K | 15.25% |
| MORGAN STANLEY | $484K | 13.24% |
| CITIGROUP INC. | $336K | 9.19% |
| BANK OF AMERICA CORPORATION | $317K | 8.67% |
| Nomura Holdings, Inc. | $314K | 8.58% |
| BNP PARIBAS | $305K | 8.35% |
| UBS GROUP AG | $279K | 7.64% |
| Cowen and Company, LLC | $232K | 6.36% |
| JEFFERIES FINANCIAL GROUP INC. | $232K | 6.35% |
VTMGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $55.0B | 99.73% |
| JPMORGAN CHASE & CO. | $67.3M | 0.12% |
| UBS GROUP AG | $41.0M | 0.07% |
| THE GOLDMAN SACHS GROUP, INC. | $8.6M | 0.02% |
| Nomura Holdings, Inc. | $7.0M | 0.01% |
| Royal Bank of Canada | $6.8M | 0.01% |
| CITIGROUP INC. | $6.3M | 0.01% |
| MACQUARIE GROUP LIMITED | $5.5M | 0.01% |
| BANK OF AMERICA CORPORATION | $4.7M | 0.01% |
| BNP PARIBAS | $3.0M | 0.01% |
Vanguard Developed Markets 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 |
|---|---|---|---|
| VDIPX | Institutional Plus Shares | 0.02% | none |
| VEA | ETF Shares | 0.03% | — |
| VTMNX | Institutional Shares | 0.03% | none |
| VTMGX | Admiral Shares | 0.05% | none |
| VDVIX | Investor Shares | 0.16% | 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.