VWEAX Fees and Costs — Vanguard High-Yield Corporate Fund, Admiral Shares
Data updated: 2026-09-28
The net expense ratio is 0.12%: a 0.11% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 44%.
VWEAX Fees and Expenses
Annual operating expenses and sales charges of VWEAX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.11% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.12% |
| Fee waiver | — |
| Net expense ratio | 0.12% |
| 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 |
VWEAX Costs Over Time
On $10,000 invested in VWEAX, assuming 5% a year before costs, total costs come to $76 over 5 years, cutting the return by 0.13% 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 0.12%) | $13 | $40 | $69 |
| Lost growth on money paid in costs | $0 | $2 | $7 |
| Total costs | $13 | $42 | $76 |
| Value after costs | $10,487 | $11,535 | $12,686 |
| Impact on return, per year | 0.13% | 0.13% | 0.13% |
VWEAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $196.3B
- Portfolio turnover (prospectus): 44%
- Securities lending: none during the year
VWEAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE & CO. | $46.4B | 24.37% |
| BANK OF AMERICA CORPORATION | $43.5B | 22.86% |
| CREDIT AGRICOLE SA | $26.4B | 13.88% |
| Royal Bank of Canada | $23.3B | 12.26% |
| TD Securities (USA) LLC | $22.0B | 11.55% |
| Nomura Securities International, Inc. | $14.5B | 7.63% |
| Vanguard Market Liquidity Fund | $6.9B | 3.65% |
| THE GOLDMAN SACHS GROUP, INC. | $2.6B | 1.39% |
| MORGAN STANLEY | $2.6B | 1.38% |
| CITIGROUP INC. | $2.0B | 1.03% |
Vanguard High-Yield Corporate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VWEAX | Admiral Shares | 0.12% | none |
| VWEHX | Investor Shares | 0.22% | 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.