Over the past two decades, the asset-weighted average expense ratio across all mutual funds and exchange-traded funds in the industry (except money market funds and funds-of-funds) has dropped by half.1 That staggering transformation of the industry’s fee structure speaks to the effect of our mission.
Vanguard remains committed to lowering the cost of investing. That’s why we set a goal in 2019 to return an additional $1 billion in value to shareholders by the end of 2025.
Since we set this ambitious goal, Vanguard has already reduced expense ratios and lowered fees across our investment lineup. That includes more than 225 fee reductions across Vanguard’s active and index mutual funds, ETFs, and trusts.