The following tables provide tracking error data for Vanguard treasury bond index funds. Tracking error is the ultimate measure of judging an index fund manager’s performance. Vanguard offers four treasury bond index funds, three nominal treasury bond funds, covering short-term,…
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Update: Vanguard brokerage commission expense (1994 – 2018)
Mutual funds that buy and sell stock incur costs on these transactions. These transaction costs are not included in a fund’s expense ratio. Transaction costs include brokerage commission expense, buy and sell spread costs, and market impact costs, Among these…
Tagged with: index funds, Stocks, Vanguard brokerage commissions
Posted in Market statistics, Mutual funds
Posted in Market statistics, Mutual funds
Fidelity and Schwab index funds: per share distributions
The spreadsheet links below contain annual per share distribution data for Fidelity index funds and Charles Schwab index and index exchange-traded funds. These distributions include dividend distributions, capital gains distributions, and return of capital distributions. The data is derived from…
Vanguard funds: per share distributions
The table below contains links to spreadsheets containing Vanguard mutual fund and exchange-traded fund annual per share distributions. These distributions include dividend distributions, capital gains distributions, and return of capital distributions. Data derived from the EDGAR data base of fund…
Dividend Yield: Value vs. Growth
John Bogle, in various writings, argued that his decision to create value and growth index funds was based on meeting the tax, risk, and return needs of investment clienteles during their investment life cycles. Growth index funds were designed for…
Update: Vanguard brokerage commission expense (1994 – 2017)
Mutual funds that buy and sell stock incur costs on these transactions. These transaction costs are not included in a fund’s expense ratio. Transaction costs include brokerage commission expense, buy and sell spread costs, and market impact costs, Among these…
Tagged with: index funds, Stocks, Vanguard brokerage commissions
Posted in Market statistics, Mutual funds
Posted in Market statistics, Mutual funds
Vanguard fund-of-funds and investor shares
The Vanguard total market funds’ investor shares make it possible for Vanguard to offer its fund-of-funds for a direct cost of zero (0.00% ER). This, by the way, is why Vanguard can not offer “admiral shares” of the fund-of-funds because…
Posted in Mutual funds, Target date funds
Update: Vanguard brokerage commission expense (1994 – 2016)
Mutual funds that buy and sell stock incur costs on these transactions. These transaction costs are not included in a fund’s expense ratio. Transaction costs include brokerage commission expense, buy and sell spread costs, and market impact costs, Among these…
Tagged with: index funds, Stocks, Vanguard brokerage commissions
Posted in Market statistics, Mutual funds
Posted in Market statistics, Mutual funds
Vanguard municipal bond fund tracking error
Tracking error is one means of measuring active manager performance against an appropriate market index. Vanguard’s national municipal bond funds are actively managed, defined asset class funds. The funds include four municipal bond funds structured across four bond maturity levels:…
Mutual fund internal loss carryovers
Mutual funds are legally structured as pass-through conduits of investment income. The income can come from dividends and interest received from securities or by profits realized by selling securities. By law, the fund must distribute income and gains to shareholders…
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