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Vanguard index fund net security lending income (2017)

Vanguard has a policy of returning 100% of after expense security lending income to its mutual funds that lend securities. The Statement of Additional Information to a fund prospectus itemizes security lending income and expenses so that the net percentage

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Posted in indexing, Vanguard

Momentum and P/E vs. Market Cap visualizations for new Vanguard factor ETFs and others

This guest article is authored by Bogleheads forum member lack_ey.  See  this forum post for additional commentary. Vanguard’s factor funds, which launched in February 2018, provide yet another take on long-only factor investing within US stocks, joining similar mutual funds

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Posted in Market statistics, Vanguard

Vanguard podcast: Getting started: What would you tell your younger self?

Vanguard has initiated a new podcast series, The Planner and The Geek. The series includes audio podcast interviews with authors and experts who participated in the 2017 Bogleheads® 2017 Conference. The first podcast in the series, Getting started: What would

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Posted in Bogleheads, Vanguard

Vanguard funds and payables to Vanguard Group Inc.

At year-end 2017 The Vanguard Group Inc. managed over five trillion dollars of investor assets. This accumulation of assets is a continuation of a trend of massive inflows of investor funds. The company surpassed two trillion dollars in assets under

Posted in Vanguard

Vanguard Group Inc. book value

One of John Bogle’s most unique achievements is the creation of the organizational structure of The Vanguard Group. It is common for both Bogle and Vanguard to refer to the company as a “mutual” mutual fund company, since the investment management

Posted in Vanguard

Under the hood – Vanguard US stock index funds in 2017

Vanguard issues annual reports for the firm’s international and global index funds on October 31 of each year. The reports provide information that can highlight some of the underlying conditions affecting a fund’s future capital gains distribution outlook; an indication of a fund’s foreign tax credit; the level of security lending in each fund, and […]

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Posted in indexing, Market statistics, Vanguard

Reducing transaction costs: cross trading and in-kind redemption

One of the main arguments for investing in passive index funds is the relative assurance of reaping a fair share of market returns. But as market benchmarks bear no costs, an index fund manager needs to reduce frictional costs in

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Posted in Market statistics, Vanguard

Under the hood – Vanguard international index funds in 2017

Vanguard issues annual reports for the firm’s international and global index funds on October 31 of each year. The reports provide information that can highlight some of the underlying conditions affecting a fund’s future capital gains distribution outlook; an indication

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Posted in international stocks, Market statistics, Vanguard

International Small-Caps and Vanguard funds

Vanguard manages two funds addressing the International Small-Caps market segment. The Vanguard International Explorer Fund (VINEX) is one of them. It was launched in Nov-96 by a UK investment company (Schroders PLC), then acquired by Vanguard in Mar-02, and it keeps operating as an active fund to this day.

More recently (Apr-09), Vanguard launched the Vanguard FTSE All-World ex-US Small-Cap Index Fund (VFSVX – also known as VSS in ETF form), a passive index fund.

This articles explores the differences between the two funds, as an attempt to help investors decide which one is best suited for them.

Posted in international stocks, Market history, Vanguard

Vanguard mid cap index fund tracking error

Tracking error is the ultimate measure of judging an index fund manager’s performance. Since an index manager does not engage in security selection with an index fund, it is the manager’s transactional skill which distinguishes performance. How well the manager

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Posted in Market statistics, Vanguard
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