VTWV Fees and Costs — Vanguard Russell 2000 Value Index Fund
Data updated: 2026-07-29
The net expense ratio is 0.06%: a 0.04% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $57K in broker commissions, 0.0065% of average net assets, and portfolio turnover was 26%.
VTWV Fees and Expenses
Annual operating expenses and sales charges of VTWV. Prospectus, as of February 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.04% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.06% |
| Fee waiver | — |
| Net expense ratio | 0.06% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
VTWV Costs Over Time
On $10,000 invested in VTWV, assuming 5% a year before costs, total costs come to $42 over 5 years, cutting the return by 0.07% 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 0.06%) | $6 | $20 | $35 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $1 | $4 |
| Total costs | $7 | $23 | $42 |
| Value after costs | $10,493 | $11,553 | $12,720 |
| Impact on return, per year | 0.07% | 0.07% | 0.07% |
VTWV Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0065%
- Total broker commissions: $57K
- Bought from dealers (principal trades, not a cost): $266.2M
- Portfolio turnover (prospectus): 26%
- Securities on loan, average value: $7.1M
- Net income from securities lending: $567K (0.065% of average net assets)
VTWV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES FINANCIAL GROUP INC. | $16K | 30.16% |
| BARCLAYS PLC | $10K | 19.65% |
| CITIGROUP INC. | $8K | 16.28% |
| BANK OF AMERICA CORPORATION | $4K | 8.07% |
| MORGAN STANLEY | $4K | 7.83% |
| JPMORGAN CHASE & CO. | $3K | 6.32% |
| Mizuho Financial Group, Inc. | $2K | 3.91% |
| Royal Bank of Canada | $1K | 2.86% |
| CITADEL SECURITIES LP | $1K | 2.63% |
| VIRTU FINANCIAL, INC. | $1K | 2.29% |
VTWV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $262.8M | 98.73% |
| JPMORGAN CHASE & CO. | $1.2M | 0.46% |
| BANK OF AMERICA CORPORATION | $809K | 0.30% |
| MORGAN STANLEY | $611K | 0.23% |
| WELLS FARGO & COMPANY | $526K | 0.20% |
| THE GOLDMAN SACHS GROUP, INC. | $176K | 0.07% |
| CITIGROUP INC. | $16K | 0.01% |
| JEFFERIES FINANCIAL GROUP INC. | $10K | 0.00% |
| Robert W. Baird & Co. Incorporated | $7K | 0.00% |
| Piper Sandler & Co. | $7K | 0.00% |
Vanguard Russell 2000 Value 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 |
|---|---|---|---|
| VRTVX | Institutional Shares | 0.05% | — |
| VTWV | ETF Shares | 0.06% | — |
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.