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Vanguard rating

Vanguard Fees, IRA Account Cost Schedule, ROTH, Mutual Fund Fee


2018 Vanguard fees schedule, commissions, broker stock trading cost, annual and inactivity charges, online investing account pricing, and cash sweep rates.



Vanguard Commission Structure and Investment Products


InvestmentsCommissions
Stocks and ETFs $7 for the first 25 trades, $20 for subsequent trades for account with less than $50,000 invested in Vanguard products
$7 for account with $50,000–$500,000 invested in Vanguard products (Voyager Services)
$2 for account with $500,000–$1,000,000 invested in Vanguard products (Voyager Select Services)
Free for first 25 trades, $2 for subsequent trades for account with $1,000,000-$10,000,000 (Flagship Services)
Free for first 500 trades, $2 for subsequent trades for account with $10,000,000+ (Flagship Select Services)
Options $20 + $1 per contract (Voyager: $7 + $1 per contract; Voyager Select and Flagship: $2 + $1 per contract)
Mutual funds Vanguard mutual funds - free. All others: Standard - $35; Voyager and Voyager Select - $20; Flagship - $8
Certificates of deposit (CDs) Purchase - $5 per $1,000, minimum is $50. Sale - $35 per transaction
Commercial paper $50 per transaction; minimum purchase is $100,000
U.S. Treasury Commission-free
Mortgage-backed securities $50 per transaction; GNMA minimum purchase is $25,000

Investments stocks, options, mutual funds, bonds, CDs, foreign securities, insurance, commercial paper, ETFs
Vanguard minimum deposit to open account $0; most Vanguard mutual funds have a minimum investment of $3,000



Vanguard IRA Fees


Fee Amount
Vanguard IRA setup fee $0
Vanguard annual IRA fee $20
Vanguard annual SIMPLE IRA fee $25 for each mutual fund
Vanguard IRA termination fee $0
Vanguard account maintenance fee $0
Vanguard account inactivity fee $0
Vanguard outbound full account transfer (ACAT) fee $0
Vanguard outbound partial account transfer fee $0



Vanguard Margin Rates


When funds are borrowed in a margin account, interest will be calculated on a daily basis and charged based on the total debit (borrowed) balance. Interest charges will start to accrue on margin transactions involving borrowed funds on the settlement date and will post to your account around the end of each month.


Debit Balance Margin Rate
under $19,999 9.50%
$20,000 – $49,999 9.00%
$50,000 – $99,999 8.50%
$100,000–$249,999 8.00%
$250,000–$499,999 7.75%
$500,000–$999,999 6.25%
above $1,000,000 5.75%



Vanguard No-load Funds Fees


No-transaction-fee
(NTF) funds
Transaction fee None
Minimum initial investment For most funds, $3,000 for non-retirement accounts and $1,000 for IRAs9
Minimum additional investment $1,000 for any account type
NTF redemption fee $50 for all sales within 60 calendar days of the most recent purchase trade date
Dollar-cost-averaging transactions No fee; minimum purchase $100; minimum two transactions

Transaction-fee (TF) funds Transaction fee Standard: $35; Voyager and Voyager Select: $20; Flagship, $88. Fees apply per trade—purchases, sales or exchanges - regardless of order size. Purchase fee is added to order cost. Sales fee is subtracted from order proceeds. If you exchange shares of a fund for another fund in the same fund family and share class, the transaction fee will be paid from your money market settlement fund.
Initial and additional investments $1,0009
Dollar-cost-averaging transactions $3 per transaction; minimum purchase $100; minimum two transactions.



Vanguard Load Funds Fees


Class A shares Front-end load (purchase fee): Varies by fund or fund family and may be as high as 5.75%. Discounts (breakpoints): May be available if you make a large purchase, already hold other mutual funds offered by the same fund family (individually or combined with a spouse or other qualifying person), or commit to regularly purchasing the fund's shares.
Class B shares Back-end load or contingent deferred sales charge (redemption fee): Decreases to zero over a period of years.
Class C shares Back-end load or contingent deferred sales charge (redemption fee): Smaller than a Class B redemption fee, it decreases to zero after one year.
All share classes Sales charges and minimum purchases: The schedule for a specific load fund may vary, perhaps significantly, from the general description shown here. Check a fund's prospectus for the details. Initial and additional investments $1,000.9  Fees: Vanguard Brokerage does not charge additional fees for a purchase, sale, or exchange of any load fund offered through FundAccess. Dollar-cost-averaging transactions: Vanguard Brokerage does not charge a fee, but sales charges imposed by the fund still apply. Minimum transaction $100; minimum two transactions.

9 NTF, TF, and load funds are subject to the greater of the FundAccess minimum investment requirements or those identified in the fund's prospectus. Vanguard Brokerage Services may negotiate fund minimum investment requirements that are greater than or less than the program standards noted above.

Note: Individual fund families may impose additional minimums, fees, or charges.




Vanguard Bonds and CDs Fees


Vanguard Brokerage Services may act as an agent, executing your order at cost plus a commission, or as a principal adding markups to purchase prices or subtracting markdowns from sales prices. When acting as a principal for a primary market issue, Vanguard Brokerage receives a fee concession from the issuer. If a concession is not available, Vanguard Brokerage reserves the right to charge a commission.6


Security type New issues Existing issues
U.S. Treasury securities Commission-free Commission-free
U.S. government agency securities, corporate bonds, and certificates of deposit Commission-free7  Standard and Voyager Services: $2 per $1,000 face amount ($250 maximum) Voyager Select and Flagship Services: $1 per $1,000 face amount ($250 maximum) Selling CDs prior to maturity: Commission-free
Municipal bonds $50 commission if a fee concession isn’t available7  Standard and Voyager Services: $2 per $1,000 face amount ($250 maximum) Voyager Select and Flagship Services: $1 per $1,000 face amount ($250 maximum)
Mortgage-backed securities and commercial paper $50 per transaction $50 per transaction
Unit investment trusts (UITs) Not available Selling UITs: $35 per transaction

6 Bond and CD prices are available at www.vanguard.com and are price indications only. Online prices for all secondary-market bonds and CDs are before commissions.
7  Minimum purchase $10,000, subject to dealer minimum.



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Mutual Funds From Other Companies: FundAccess


No-transaction-fee
(NTF) funds
Transaction fee None
Minimum initial investment For most funds, $3,000 for non-retirement accounts and $1,000 for IRAs8
Minimum additional investment $1,000 for any account type8
NTF redemption fee 1% of the proceeds ($50 minimum, $250 maximum), for shares held less than or equal to 180 calendar days. The holding period begins on the trade date of the purchase. Whether the NTF redemption fee applies is determined on the trade date of the redemption. The fee is waived for shares transferred from another brokerage firm or financial institution. 
Dollar-cost-averaging transactions No fee; minimum purchase $100; minimum two transactions

Transaction-fee (TF) funds Transaction fee Standard: $35; Voyager® and Voyager Select®: $20; Flagship®, $89.  Fees apply per trade—purchases, sales or exchanges—regardless of order size. Purchase fee is added to order cost. Sales fee is subtracted from order proceeds. If you exchange shares of a fund for another fund in the same fund family and share class, the transaction fee will be paid from your money market settlement fund.
Initial and additional investments $1,0008
Dollar-cost-averaging transactions $3 per transaction; minimum purchase $100; minimum two transactions.

8 NTF, TF, and load funds are subject to the greater of the FundAccess minimum investment requirements or those identified in the fund's prospectus. Vanguard Brokerage Services may negotiate fund minimum investment requirements that are greater than or less than the program standards noted above. 9 For Flagship clients, TF fund transactions are included in the offer of 25 commission-free transactions described in footnote 3. Subsequent transactions are at the rates shown in the fee schedule for TF funds above.


Other Vanguard Fees


VanguardAdvantage® Account Offered to clients of Voyager Select ($30, charged annually), Flagship (free), and Flagship Select (free).
Insufficient funds: $20. Stop payment: $15. Checkbook reorder: Voyager Select, $9.95; Flagship, free; and Flagship Select, free. VanguardAdvantage Billpay® service: Voyager Select, $4.95 per month; Flagship, free; and Flagship Select, free. Possible fees at automated teller machines not affiliated with PNC Bank.
Foreign securities transactions

$50 processing fee for non-DTC-eligible securities (not applicable to American Depositary Receipts) plus commission. If a trade executes over multiple days, the commission will be charged for each day on which an execution occurs. Additional fees may apply for trades executed directly on local markets. 
American Depositary Receipt (ADR) fees Banks that custody ADRs are permitted to charge ADR holders certain fees, which are detailed in the ADR prospectuses. "Pass through" ADR fees are collected from Vanguard Brokerage Services by the Depository Trust Company (DTC) and will be automatically deducted from your brokerage account and shown on your account statement. Other fees, including dividend processing fees, may be withheld by the DTC from the amount paid by the issuer.
Wire transfers Vanguard does not charge a fee to wire money to your bank. However, your bank may charge for receiving wires from your brokerage account or settlement fund.
Miscellaneous fees Other securities transaction or maintenance fees may apply. Call us for additional information.



Vanguard Comparison


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Ally Invest $4.95 $9.95 $4.95 + $0.65 per contract $0 $0
TD Ameritrade $6.95 $49.95 $6.95 + $0.75 per contract $0 $0
Vanguard $7-$20 $8-$35 $20 + $1.00 per contract $20* see


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Ally Invest
TD Ameritrade
Vanguard



Vanguard Inactivity Fee


Vanguard does not charge inactivity fees (annual, quarterly, or monthly) for regular brokerage individual or joint taxable accounts. The firm also does not have inactivity fee for all IRA accounts.

However, Vanguard charges $20 annual maintenance fee for regular accounts with balance less than $50,000. There are also annual IRA fees: $25 for SIMPLE IRA, $15 for 403(b)(7), $20 for Individual 401(k)/Roth 401(k) plans, and $20 for 529 plan.



Vanguard Review and Website Link


Read full Vanguard Brokerage Review

Vanguard fees are as of 2018 and are subject to change. For the most recent information on Vanguard fees go to their website:

Vanguard






Vanguard Group Overview


The Vanguard Group is one of the largest mutual fund companies in the United States and a pioneer in individual investing since 1975. Vanguard is particularly well known for advocating no-load mutual funds and low management fees. They offered the first index mutual fund to retail investors and remain a leader in the area of index investing.


Investment Selection


Vanguard sells more than 100 proprietary mutual funds that are suitable for IRAs. Many are indexed to general or specific market averages. These funds have soared in popularity because their inherently low expense ratios. By most measures, index funds achieve higher overall returns than actively managed funds because of these low expense ratios.

Vanguard is also a leader in Exchange Traded Funds (ETFs). ETFs are essentially mutual funds that can be bought and sold anytime during trading hours on the major stock exchanges rather than via end of the day pricing used for traditional mutual fund. ETFs appeal to investors who prefer to trade their mutual funds on a bid/ask basis for more immediate results. Vanguard's ETFs, like most ETFs, are all "passively managed," which means managed with the goal of replicating the rate of return of a specific investment index such as the S&P 500 Index. All ETFs can be owned in an IRA account.


Vanguard Fees


Vanguard's brokerage unit allows customers to buy and sell individual stocks and bonds. However, commissions are substantially higher than commissions charged by the leading discount brokers. Discounts and incentives such as free trades are available for investors with more than $50,000 invested in Vanguard assets. But any investor with a small portfolio, who wants to trade stocks, bonds, and/or non-Vanguard mutual funds and ETFs, should deal with a discount brokerage that offers commissions that are more competitive.

One investment Vanguard offers that many online and discount brokers do not offer are Certificates of Deposits (CDs). Vanguard's CD commissions are higher than a commercial bank may charge. But if CDs are a significant part of your IRA portfolio, the account integration with other investments Vanguard offers is worth considering.

Not to be overlooked is the Vanguard Variable Annuity (VVA). In the 1980s and 1990s, annuities and cash-value life insurance policies were dismissed as obsolete, old school investments. They couldn't compete with robust stock market gains and the mushrooming popularity of mutual funds as the preferred investment of the middle class.

But the new generation of annuities like the VVA is tied to stock market performance rather than a massive bond portfolio, so returns are more competitive. In addition, annuities have reduced fees and expenses to the point where they are more in line with mutual fund fees and expenses. Vanguard touts their VVA as one of the lowest cost annuity plans in the market. A choice of 17 portfolios is available, and the VVA offers a guaranteed income option.


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Investing in Funds


A very large selection of mutual funds are available at Vanguard. In fact, there are more than 16,000 products. This selection includes hundreds of fund families. More than 2,400 carry no transaction fee and no load. Over 300 mutual funds are Vanguard products, and they have expense ratios well below 1.0%.

Target-date funds are also available at Vanguard. These are mutual funds that become less aggressive as the target date approaches. This is the time that retirement is expected to commence. These funds have become popular with retirement savers as they take a lot of the guess work out of retirement investing. Vanguard has its own suite of target-date funds, which have expense ratios below 0.17%.

More than 50 Vanguard ETF's are also available. They have expense ratios far below the industry average, and they can be traded without paying any commissions. Several could be used in a retirement account, including a REIT fund that pays consistent dividends, and a bond fund that has a stable price history.


Financial Advice


Investors who aren't confident enough to do their own retirement planning can take advantage of Vanguard's investment advisory service. Called Vanguard Personal Advisor Services, the company provides financial planning and account management for an additional fee. Although a $50,000 account balance is required, the portfolio management fee is only 0.30%.