VWENX Fees and Costs — Vanguard Wellington Fund, Admiral Shares
Data updated: 2026-07-29
The net expense ratio is 0.16%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $15.3M in broker commissions, 0.0133% of average net assets, and portfolio turnover was 62%.
VWENX Fees and Expenses
Annual operating expenses and sales charges of VWENX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.16% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.16% |
| Fee waiver | — |
| Net expense ratio | 0.16% |
| 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 |
VWENX Costs Over Time
On $10,000 invested in VWENX, assuming 5% a year before costs, total costs come to $110 over 5 years, cutting the return by 0.18% 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 0.16%) | $17 | $53 | $92 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $18 | $60 | $110 |
| Value after costs | $10,482 | $11,516 | $12,653 |
| Impact on return, per year | 0.18% | 0.18% | 0.18% |
VWENX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0133%
- Total broker commissions: $15.3M
- Bought from dealers (principal trades, not a cost): $353.3B
- Portfolio turnover (prospectus): 62%
- Securities on loan, average value: $6.0M
- Net income from securities lending: $1.2M (0.001% of average net assets)
VWENX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE & CO. | $2.0M | 17.56% |
| MORGAN STANLEY | $1.6M | 13.93% |
| CITIGROUP INC. | $1.5M | 13.23% |
| THE GOLDMAN SACHS GROUP, INC. | $1.3M | 11.04% |
| UBS GROUP AG | $1.2M | 10.58% |
| BANK OF AMERICA CORPORATION | $1.2M | 10.47% |
| JEFFERIES FINANCIAL GROUP INC. | $1.1M | 9.23% |
| BNP PARIBAS | $582K | 5.02% |
| BARCLAYS PLC | $538K | 4.64% |
| Royal Bank of Canada | $498K | 4.30% |
VWENX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| HSBC HOLDINGS PLC | $47.1B | 15.70% |
| BANK OF AMERICA CORPORATION | $42.9B | 14.30% |
| CITIGROUP INC. | $33.2B | 11.07% |
| Nomura Securities International, Inc. | $29.3B | 9.78% |
| WELLS FARGO & COMPANY | $27.4B | 9.12% |
| DEUTSCHE BANK AKTIENGESELLSCHAFT | $27.3B | 9.11% |
| CREDIT AGRICOLE SA | $26.4B | 8.79% |
| JPMORGAN CHASE & CO. | $23.6B | 7.87% |
| Royal Bank of Canada | $21.7B | 7.25% |
| SOCIETE GENERALE | $21.0B | 7.00% |
Vanguard Wellington Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VWENX | Admiral Shares | 0.16% | none |
| VWELX | Investor Shares | 0.24% | 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.