Perspectives and commentary

New Vanguard research explores how investors are increasingly using passive funds to build active portfolios.

Not converting to a Roth because you expect to be in a lower tax bracket at retirement? An analysis using the break-even tax rate (BETR) finds that you may be missing out on tax advantages.

Our scenarios-based approach to forecasting amid war in Ukraine acknowledges that we can’t predict the future.

Chief Economist Joe Davis explains why market volatility and downturns happen and why they’re an integral part of investing.

Vanguard’s annual All Cans on Deck drive supports hunger relief agencies in our communities and around the world.

Vanguard experts discuss the Fed’s balance sheet reduction plan compared with previous quantitative tightening and potential implications.

In this panel discussion hosted by Portfolio Management Research, Jim Rowley Jr., CFA, head of investor research in Vanguard Investment Strategy Group, offers his perspective on direct indexing.

How is diversity, equity, and inclusion embedded in Vanguard’s culture? Vanguard Chief Diversity Officer Crystal Hardie Langston discusses that and more.

In this panel discussion hosted by Portfolio Management Research, Jim Rowley Jr., CFA, head of investor research in Vanguard Investment Strategy Group, offers his perspective on how investors are using passive strategies for active exposures.

Vanguard’s European chief economist, Jumana Saleheen, says central banks face a stiff test in trying to control inflation and ward off recession.

In this panel discussion hosted by Portfolio Management Research, Jim Rowley, head of Investor Research in Vanguard Investment Strategy Group, offers his perspective on why the indexing/active decision is not a binary choice.

We expect economic growth in 2022 to range from about 2.5% in the euro area to about 5.5% in emerging markets overall, though war in Ukraine raises uncertainty. Our return forecasts are muted, but there may be opportunities for investors willing to bear extra risk.

Investors prefer some aspects of human advice over digital but perceive value in all advice services, a Vanguard survey finds. For these reasons, it is critical that they have access to a wide range of advice services.

Vanguard was recently announced as a founding member, and the sole asset management company presence, of the Global Parity Alliance, a group dedicated to advancing DEI across multiple industries.

This piece describes how understanding changes in volatility, stock-bond correlation, and inflation can affect a retirement withdrawal strategy.  It draws from research set to publish in The Journal of Retirement later this year, “Sustainable Withdrawal Rates by Return Environment: A Time-Varying Bayesian Analysis”. Andy Clarke, CFA and Kevin Khang, PhD are featured throughout.

A new analysis by Vanguard economist Adam Schickling suggests workers will continue to leave jobs of their own accord at a high rate through 2022, and that will likely keep wage growth elevated.

Vanguard’s investment stewardship efforts in 2021 include global advocacy, engagement, and voting activities.

An inverted yield curve doesn’t necessarily foreshadow a recession, according to Vanguard’s Andrew Patterson and John Madziyire.

Vanguard funds have had limited exposure to Russian securities and will adhere to sanctions against Russia.

Maria Bruno, head of U.S. wealth planning research at Vanguard, offers five suggestions for investors making IRA contributions during tax season. Maybe the most important tip? Contribute early.

Vanguard CEO Tim Buckley and Nick Eisinger, co-head of emerging markets active fixed income, discuss the impact of the war in Ukraine on emerging markets and the associated risk. They also discuss the monetary policy outlook ahead of key meetings in the U.S. and Europe.

Higher oil prices resulting from events in Ukraine are likely to trim economic growth and accelerate inflation to levels beyond what was previously expected.

Events in Ukraine understandably test investors’ resolve. At such a time, it’s best to take emotions out of investing.

In this first of two Q&As, John Galloway, global head of Vanguard’s Investment Stewardship team, discusses corporate governance practices and how Vanguard addresses ESG risks that can affect long-term shareholder value in its equity funds.

Markets have come under pressure amid heightened geopolitical risks. In times like these, often the best strategy is to stay focused on your goals and maintain your disciplined approach.

Sara Devereux, head of Vanguard Fixed Income Group, discusses what to expect over the next few years based on a recent Fed announcement about raising rates.

Vanguard Chief Investment Officer Greg Davis discusses recent developments in the global economy and our return expectations for the U.S. equity markets.

Heightened volatility and market losses early in 2022 emphasize the value for investors of a long- term focus.

With inflation at multidecade highs, the Federal Reserve appears prepared to raise its key interest rate target, perhaps as early as March. Vanguard economists Josh Hirt, Asawari Sathe, and Adam Schickling discuss the Fed’s considerations.

Central banks will need to act decisively to rein in accelerating inflation, according to Joe Davis, Vanguard’s global chief economist. Long-term, that’s good for investors.

Personalized, realistic projections of longevity and health care costs in retirement could provide a better foundation for planning than conservative assumptions.

Higher real interest rates should cool, but not stop, the labor market and the greater economy. And they bring longer-term benefits.

There are times when small-cap equities outperform large-caps and vice versa, but they are not expected to do so in any meaningful way over the long term.

New Vanguard research indicates that investors are frequently using non-total market index funds to build portfolios with active exposures, according to “How Investors Use Passive for Active,” a paper authored by Vanguard’s Jan-Carl Plagge, Haifeng Wang, and Jim Rowley. The paper was published in the The Journal of Beta Investment Strategies.

Vanguard global chief economist outlines the current draw of international equities as well as their enduring role as a diversifier in a portfolio.

Vanguard global chief economist expects fixed income returns to be modest over the next decade but doesn’t see a bear bond market on the horizon.

Learn about Vanguard’s investment philosophy and disciplined approach in a volatile market environment.

For many, the sticker price and net cost of college are vastly different numbers. What might your net cost be?

In the rough start to 2022, the trading behavior of the vast majority of Vanguard clients indicates that they have stayed the course.

With stocks and bonds well into negative territory, it’s tempting to call the traditional balanced portfolio dead. But we’ve been here before, says Roger Aliaga-Díaz, chief economist for the Americas and head of portfolio construction in Vanguard Investment Strategy Group.

Vanguard has downgraded economic growth forecasts for the U.S. and China, but recession isn’t likely.

A COVID-19 lockdown strategy that succeeded in the pandemic’s early days is likely to hold back China’s economy.

Vanguard Chief Diversity Officer Crystal Hardie Langston gets to the bottom of a common misconception about DEI and who can contribute.

With surging inflation, the euro area will be hiking interest rates into positive territory later this year. Vanguard updates its forecasts for this year and next.

Vanguard Chief Investment Officer Greg Davis explains the key elements that set us apart—expertise, a disciplined approach, and a global presence.

The era of ultra-low neutral rates may be coming to an end as some of the drivers behind it are lessening or even reversing.

How are investors hedging against the surge in inflation? Our investment strategists looked at their usage of TIPS in 2021.

A Vanguard study using natural language processing of biographical data for fund investment teams finds higher performance from teams with gender diversity.

At best, you may marginally improve returns through market timing. At worst, you could drastically lower returns.

One key strategy to boost retirement plan participant outcomes: offer an advice option like a target date fund. Here we discuss findings in Vanguard’s 2022 How America Saves report, along with key insights that can enhance plan design.

Vanguard principal Jean Lu received an Ascend A-List Award for leading inclusivity opportunities for Asian professionals.

After 25 years, Vanguard Managing Director Karin Risi is unwavering in her focus on clients and fulfilling Vanguard’s mission.

Inflation is putting economies on the path to recession. In this short video, Vanguard’s global chief economist discusses how that could be avoided.

In case you missed it: Vanguard recently shared its 2022 midyear economic and market outlook. In it, Vanguard’s global and regional chief economists discuss increased inflation, muted growth, and recessionary fears.

How automatic retirement plan features can boost participant savings rates and enhance long-term outcomes.

What’s at the center of Vanguard’s culture? Vanguard CHRO Lauren Valente explains who and what matter most.

How advisors can add alpha through services such as financial planning, discipline, and guidance.

As Vanguard managing director Tom Rampulla advises, discipline is key to meeting your financial goals, especially during market volatility.

Certain retirement plan provisions can help workers continue to save, even when they switch jobs.

How Vanguard strategically builds portfolio asset allocation models based on goals, preferences, and beliefs: a customized solution that meets a wide range of investor needs.

How can you drive a more inclusive environment? Vanguard chief diversity officer Crystal Hardie Langston shares some tips.

As the geopolitical battle over Ukraine intensifies, Europe in particular is exposed to a potential energy crisis, but there would be implications for the global economy too.

Three scenarios that the Fed could face in the coming months—a hard landing, stagflation, and a softish landing.

A Vanguard analysis shows why lofty earnings expectations shouldn’t overly concern the U.S. equity market.

When a recession occurs, we don’t know precisely when equity markets will recover. But equity prices have frequently started to recover before the end of the recession.

Our global chief economist discusses the probabilities of a soft landing, hard landing, or stagflation.

Thinking beyond market-capitalization-weighted portfolios to address complex investor preferences.

Vanguard Personal Investor Managing Director Matt Benchener reveals the question he’s asked most from investors.

Vanguard researchers home in on the US cycle of innovation and what current trends mean for future economic growth.

Vanguard Chief Economist Joe Davis speaks with Barron’s Live about recent market and economic trends.

Vanguard is honored as a 2022 Best Place to Work for Disability Inclusion.

Vanguard Global Chief Economist Joe Davis discusses the drivers of how his team assembles its economic and market outlook.

Vanguard active bond managers offer their risk-reward outlook for bond funds as inflation remains high and the Federal Reserve continues to raise interest rates.

In a short video, Vanguard’s global head of portfolio construction contrasts time-varying and tactical asset allocation.

Vanguard research shows that inflation doesn’t affect optimal Social Security claiming strategies.

Under what conditions do we give new funds the green light to join our lineup? Learn more from Vanguard Managing Director Karin Risi.

Vanguard is assessing ways to provide individual investors the opportunity to participate more directly in the proxy voting process.

Among the many rebalancing methods, we seek the one that is more risk-return-efficient and cost-effective than others.

Vanguard crew around the world joined forces in early October for the 2022 Vanguard Gives Back campaign, under the theme of Stronger Together.

A recently published Vanguard research paper shows that valuing or benchmarking advice recommendations against an investor’s current plan helps advisors prioritize those recommendations to employ the highest-value strategies.

Our latest monthly survey of global economies has raised the inflation rate forecast for the U.S., while recession is likely for the euro area.

The traditional target-date fund might be too conservative for some retirees in poor health. Such investors might consider personalized advice.

Vanguard managing director John James describes how simple it can be to start saving for retirement, from taking advantage of the company match within an employer plan to considering a target-date fund.

Updated Vanguard research highlights three key steps to help people choose Medicare coverage options.

Quickly rising global interest rates increase the prospect of dislocations in distinct market corners. Financial markets seek certainty that policymakers can lead the economy to a comfortable place.

A Vanguard economist looks at factors underlying the current strength of the U.S. dollar against most currencies.

Our latest bimonthly Investor Expectations Survey indicates that while pessimism among investors has eased somewhat, it remains at a high level.

With interest rates going up and likely to stay elevated, what’s the implication for the balanced portfolio? Short-term pain but relief with brighter prospects, possibly by next year, says our head of portfolio construction.

Vanguard managing director Tom Rampulla shares why he still works at the firm after 33 years.

Inflation is becoming broad-based and recession is likely in Europe but not in the U.S., at least for 2022.

With the litany of negative economic and market news, it’s tempting to stay on the sidelines. But, based on market history, Vanguard CIO Greg Davis says it’s better to stay in the game.

Our guide can help investors overcome struggles and develop long-term strategies to maintain financial wellness.

Congress has until June to raise the debt limit, but what does it all mean for the government and for the investor?

Matt Benchener, managing director for Vanguard Personal Investor, reflects on the biggest leadership lesson he’s learned.

Catch up on selected Vanguard perspectives on the economy, financial markets, portfolio considerations, and more.

Learn about the role of financial advice, how inflation and rising interest rates affect fixed income investors, and strategies for weathering stock market cycles.

What would Vanguard Chief Investment Officer Greg Davis share with his younger self about investing? Ignore the hot stock and focus on the importance of asset diversification.

Look back at Vanguard research on rebalancing, Roth IRA conversions, charitable giving, asset location, and tax-loss harvesting.

In this short video, Vanguard’s global chief economist, Joe Davis, discusses what’s ahead for the economy in 2023.

In a short video, Vanguard’s global head of portfolio construction discusses what’s needed to create a customized portfolio.

Vanguard is providing an update about our engagement with the Net Zero Asset Managers initiative (NZAM).

What should investors know about financial advice? Tom Rampulla, managing director of Vanguard Financial Advisor Services, explains how a hands-off approach can keep you on track and isn’t that expensive.

With the rise of commission-free ETF trading, it’s important to know how to tally the total cost of owning an ETF.

Municipal bonds aren’t the only option for the fixed income portion of a tax-efficient portfolio. Taxable bonds can play a role too, according to new Vanguard research.

Planning a charitable gifting strategy? Here’s what to know about the complexity, tax consequences, and timeline—whether you’re donating cash, corporate stock, or an antique automobile.

Our latest monthly survey of global economies has raised the inflation rate forecast for the U.S.

Investors are feeling more pessimistic about the short-term outlook in financial markets and are having to tap their retirement savings for cash.

Research, dialogue, and collaboration with a side of healthy debate sum up Vanguard Global Chief Economist Joe Davis’s regular schedule. Learn more about what goes into his day and what comes out of team discussions.

China will likely see fairly robust growth in 2023, just enough to keep us out of a global recession.

Despite collapsing natural-gas prices and resilient industrial activity, Europe’s energy crisis isn’t over yet.

On August 25, 2023, Bloomberg published a wide-ranging conversation with Greg Davis, Vanguard’s chief investment officer.

Vanguard economists predict fundamental changes in what has been the world’s economic engine.

How one team of investors identifies small- and mid-cap growth standouts: A conversation with the managers of the Wellington sleeve of Vanguard Explorer Fund.

There are signals—including some from our own retirement plan data—that show hiring is slowing.

U.S. value stocks are poised to outperform U.S. growth stocks over the next ten years. Kevin DiCiurcio, head of the Vanguard Capital Markets Model® research team, explains why.

Investors have opportunities to reduce taxable income. Learn more about how tax analysis techniques can enable savings.

Our global survey of economic conditions features a look at divergent expectations for the key U.S. interest rate.

Negative convexity has rejoined duration and credit as central considerations in active muni investing.

Learning about ETF premiums and discounts can help you begin optimizing your ETF trading strategies.

Is inflation finally tamed? Not likely unless we see a slowdown in “sticky” categories.

For only the second time in history, the U.S. credit rating has been downgraded. We discuss the ramifications.

How do we build target-date funds to help investors save for retirement? A conversation with Vanguard’s Roger Aliaga-Díaz and Michael Roach.

In a Bloomberg podcast, Vanguard’s global chief economist discusses recession, inflation, and the labor market.

Vanguard experts discuss what recent rate hikes mean for fixed income returns over the long run.

529 plan investors using a glide-path approach have less investment risk on average than self-directed investors.

Vanguard active fixed income: The potential remains for equity-like returns in fixed income.

Misconceptions abound about the 60/40 portfolio. We set the record straight on what it is and how to implement it.

Automatic savings features have helped participants sock away more—sometimes significantly so—for retirement.

We’re committed to serving our communities year-round were recently honored for Philadelphia-area civic impact.

Our global economic survey features research suggesting that current interest rates may be less restrictive than policymakers believe.

Investors were feeling more optimistic as stocks rebounded in June, according to the latest Vanguard Investor Expectations Survey.

Here’s a sampling of our latest economic and market research and insights to add to your summer reading list.

Higher inflation can mean higher return correlation. But that doesn’t offset the benefits of balanced investing.

By recognizing the imbalances that can occur in the opening auction, investors can enhance their trading experience.

Our head of community stewardship discusses volunteerism and philanthropy at Vanguard.

Where are current global value opportunities? A video conversation with Pzena CEO and portfolio manager Caroline Cai.

Vanguard’s chief investment officer gives his take on how to navigate the current interest rate environment.

Interest rates may rise further, and economic growth may slow. Expected market returns have mostly edged lower since year-end.

Key supports for the U.S. housing market: an undersupply of homes, supportive demographics, and borrower fundamentals.

Pzena CEO and portfolio manager Caroline Cai chats about her team’s process and philosophy in this video conversation.

Our global survey of economic conditions features a look at divergent expectations for the key U.S. interest rate. 

Key supports for the U.S. housing market: an undersupply of homes, demographics, and borrower fundamentals.

Our head of portfolio construction addresses the ongoing 60/40 debate in InvestmentNews.

Key supports for U.S. housing market: an undersupply of homes, supportive demographics and borrower fundamentals.

The markets anticipate the Fed cutting rates, but not this year say our economists and machine learning model.

An agreement on the debt ceiling has been signed into law. How should investors respond?

Lawmakers have reached a bipartisan agreement to raise the debt ceiling. How should investors respond?

In a guest column for Barron’s, Vanguard’s global chief economist contends that the Fed’s inflation fight is far from over.

Vanguard CIO Greg Davis describes the potential paths ahead, including the likelihood of a positive outcome.

In the wake of U.S. regional bank failures, investors’ optimism ticked down and hiring slowed.

In this audiocast, Greg Davis and Sara Devereux discuss the ramifications of a debt default and the precautions we’ve taken.

Learn Vanguard’s views on how investors should respond to the debt ceiling talks in Washington.

Our global survey of economic conditions features a look at divergent expectations for the key U.S. interest rate.

Get Vanguard’s perspective on how we’re responding to the debt ceiling debate and what investors should know.

High-income super savers will benefit from new provisions around RMDs, 529 plans, and more.

Three senior leaders share how persistence, work ethic, and mentorship shape their roles and advance gender equity.

U.S. stock outperformance over the last decade has likely sown the seeds for their underperformance over the coming one.

Fresh central bank rate hikes highlight the disconnect between hawkish policymakers and investors who’ve been expecting rate cuts in 2023.

Having a credit tilt in the bond portion of a portfolio can enhance long-term returns.

Those on the road to retirement (or already there) may benefit from one or more of the changes in SECURE 2.0.

New provisions can help young savers who are saving for retirement and also trying to meet nearer-term goals.

We continue to expect mild recessions and generally rising central bank policy rates in major developed economies.

History shows why investors shouldn’t overreact to market volatility.

April is Financial Literacy Month and a great time to review ways investors can access financial planning and wellness tools.

In context, recent tech sector layoffs are limited in scope and not likely to spill over to the broader economy.

April is Financial Literacy Month. More money know-how increases the likelihood of reaching financial goals.

Look for consumer spending to play a pivotal role in the U.S. economy in the year ahead.

In this excerpt from a January 10, 2023, webcast, Vanguard’s CEO talks about a bellwether asset mix.

Joe Davis, Vanguard’s global chief economist, discusses the trade-offs facing the Fed in its efforts to achieve price stability.

Market volatility may come and go in the months ahead, so it’s important for investors to stay focused on what they can control, like maintaining balance and diversification in their portfolios.

Retiring and relocating typically unlocks $100,000 in home equity for retirement, Vanguard research finds.

In this January 10, 2023, webcast excerpt, Vanguard’s CEO advises nervous investors to control what they can.

The past year was brutal for the 60/40 portfolio. But it helps to maintain perspective, looking back and forward.

Our base case remains a shallow recession in late 2023, but the odds of a “later landing” have increased.

Recessions likely have begun in the United Kingdom and euro area, and a mild U.S. recession this year remains likely.

Senior portfolio manager Jim D’Arcy discusses the outlook for municipal bonds on the podcast Barron’s Live.

Research considers how to measure inflation based on investors' specific circumstances and how to hedge against it.

Managed portfolios help support participant financial well-being and enhance investor outcomes.

Discover highlights of Vanguard’s leadership and innovations on behalf of investors over the years.

Following an extended period of relatively low interest rates, Vanguard examines the benefits of investing in private equity amid rising interest rates.

Vanguard examines the diversification benefits and expanded equity market coverage that the inclusion of private equity in a portfolio can provide investors.

Our global survey of economic conditions features a look at the U.S. economy’s continued vigor.

Five financial planning strategies that investors can use throughout the year to lower their tax bill.

Consumer demand has been resilient and can continue to sustain the economy in the year ahead.

Tax costs can be controlled in many instances. Investors just need to know how.

Vanguard’s Fiona Greig explores four big ideas with the potential to increase participant outcomes in retirement.

Our updated economic forecasts anticipate stronger growth and a sturdy labor market.

A semiannual review of fund industry cash flows finds below-average year-end levels of investors’ risk appetite.

Which ETF costs matter most? It depends on an investor’s portfolio construction goals, time frame, and trade size.

Vanguard’s CEO and CIO discuss potential effects of our similar return expectations for equity and bond performance.

Vanguard offers insights on how investors should respond to a government shutdown.

There’s a danger of history repeating itself if the Fed starts cutting interest rates too early.

Q&A with Vanguard’s Justin Schwartz: An indexer reaches for tax-equivalent yield.

Vanguard announced Tim Buckley will retire from his role as Chairman and Chief Executive Officer by year-end 2024. Vanguard also announced that Chief Investment Officer, Greg Davis, has been appointed to the role of President of the firm.

Paired with our low-cost funds, advice can be an impactful tool for achieving financial goals, according to Vanguard’s CEO.

Investors may be too complacent about the impact of higher rates on valuations.

Vanguard’s CEO and CIO explain how higher interest rates can be a motivator for bond investors.

Emerging markets bonds are positioned to outperform much of the rest of the fixed income market in 2024.

Our global survey of economic conditions features the enduring strength of the U.S. consumer. 

The start of the year is a great opportunity to get aligned with Vanguard’s four timeless principles for investing success.

Vanguard’s most recent AFI launch highlights the value of Vanguard ownership.

The lasting impact of a father’s disciplined investing on his family and the steps to make such discipline easier.

Although yields have fallen sharply, fixed income investors should feel comfortable about the path forward.

Wellington CEO Jean Hynes discusses how her company’s strengths help foster an effective partnership with Vanguard.

Hirings continued to soften, according to Vanguard retirement data and the latest JOLTS survey.

Money is a stressor for many Americans. These tips can reduce the strain this Financial Wellness Month and beyond.

Vanguard leaders explain why we’re not offering bitcoin ETFs or other crypto products on our brokerage platform.

Investors were feeling more optimistic as stock return expectations rose in December, according to the latest Vanguard Investor Expectations Survey.

Our global survey of economic conditions features the implications of shipping disruptions for inflation rates.

In a podcast appearance, Vanguard’s chief economist for the Asia-Pacific discusses investment conditions and the long-term outlook.

Revisit Vanguard research and commentary on financial wellness and time-tested approaches to investing.

A year after the act took effect, here’s our roundup of what’s changing this year and what’s coming soon.

A new, proprietary Vanguard index suggests the dollar is overvalued and will depreciate modestly in the coming years.

In a podcast appearance, Vanguard’s global chief economist discusses investment conditions and the long-term outlook.

Cutting through the noise to find the next big thing: A Q&A with Baillie Gifford’s Tom Coutts and Lawrence Burns.

Look back at Vanguard research on the 60/40 portfolio, rising yields, securities lending, and more.

In 2023 interviews, portfolio managers describe their approaches and what makes a difference for investors.

Our global survey of economic conditions shows how more Americans postponing retirement is helping the Fed rein in inflation.

In a 4-minute video, Sara Devereux discusses the advantages low costs give active bond managers in the new environment.

Vanguard’s Julie Virta shared five simple tax tips for new year planning with readers of Kiplinger.

Three Vanguard senior economists discuss interest rates, inflation, the labor market, and the broader U.S. economy.

Even when tested by fear and uncertainty, Vanguard’s Jon Cleborne says, investors should be mindful of these key ideas.

This short video discusses why interest rates are returning to historical norms, benefiting savers and investors.

As ETF use accelerates, it’s important for investors to use sound trading practices, especially for large trades.

Vanguard celebrates 20 years of Vanguard Target Retirement Funds with plan sponsors and as a leading provider of TDFs.

Vanguard will expand our proxy voting choice programs to two additional funds in early 2024.

What are asset managers missing? According to our analysis, it’s what should be step one in the process. 

Investing success can mean different things to different investors. Determining what success means is essential to understanding what path to take.

Factor-based investing can take on different characteristics depending on the approach chosen.

Valuation-aware, time-varying asset allocations can help investors reach their return targets.

In a two-part podcast appearance, Vanguard’s head of advice methodology gives his take on savings and retirement.

An era of higher interest rates will also be an era of sound money. Read more of Vanguard’s 2024 views in this summary.

Learn why the current fixed income environment is a positive for long-term retirement investors.

Our global survey of economic conditions features the interest rate targets of developed-market central banks.

Global head of Vanguard’s Fixed Income Group sees “tremendous value” in bonds right now.

Managers from Hotchkis & Wiley discuss their process of finding undervalued stocks for long-term growth.

A mobile preschool funded by Vanguard Strong Start for Kids supports in-home childcare providers and children.

Investors were feeling more pessimistic as stock return expectations dipped in October, according to the latest Vanguard Investor Expectations Survey.

How does value manager David Palmer identify the future potential of a stock, particularly during times of weakness?

Default risk has consistently been a key performance differentiator in actively managed bond funds.

In these CNBC videos, Vanguard leaders offer their perspectives on interest rates, the markets, and investor sentiment.

Commercial real estate is under stress because of higher interest rates and remote work. Should investors be worried?

The labor market remains robust, but hiring is continuing to soften, according to Vanguard retirement data.

At Vanguard, all net revenues from securities lending are returned to fund shareholders. Learn more in this Q&A.

With real yields at 15-year highs, bonds today can offer more significant value in total returns to a portfolio.

Vanguard’s Fiona Greig offers her perspective on increasing retirement security in the U.S.

Our global survey of economic conditions features a look at a key impact of European Central Bank tightening.

Higher savings rates and asset allocation are two keys to improving retirement readiness.

Our research defies conventional wisdom on the asset location of equity subclasses to optimize after-tax returns.

Learn more about the current state of retirement readiness in the U.S.

Watch a recorded Q&A with Vanguard economists on the drivers behind our global market outlook.

Vanguard’s chief investment officer spoke with Barron’s on October 2 about Federal Reserve policy, the state of the markets, and active investment management.

How people-to-people partnerships create value for international index investors: A Q&A with Vanguard’s Christine Franquin.

Access to cash increases the likelihood that participants will maintain retirement plan assets.

There are signals, including some from our own retirement-plan data, that show hiring continued slowing in August.

Interest rate hikes may be winding down in developed markets, but rates may stay high longer than expected, according to Vanguard economists.

Often overlooked, tracking error can potentially be a greater cost than expenses in index funds and ETFs.

An account with tax-deferred investment growth, employer contributions, and tax-free qualified withdrawals? An HSA can do all that.

Register to attend a live, online Q&A with Vanguard economists on October 4 at 10 a.m., Eastern time.

Our global survey of economic conditions features a look at a divergence between U.S. fiscal and monetary policies.

Investors remained upbeat about the outlook for stocks and the economy and our Fear and Doubt Index eased.

Vanguard has developed four principles to help policymakers consider tradeoffs when designing Baby Bonds programs.

Looking for new ideas? You might find some in books recommended by our chief investment officer and three of his colleagues.

New Vanguard research considers how to navigate the current environment following recent Fed rate hikes. 

Greg Davis examines the role that asset classes play in a portfolio in today’s market environment.

Vanguard believes the investment case for private equity is strong and provides suitable investors the potential for excess returns and increased portfolio diversification. Vanguard’s mission is to broaden access to private equity strategies that were previously reserved for the largest asset pools.

Investments in AI are unlikely to ward off a near-term U.S. economic slowdown or justify rich stock valuations.

Bonds are back, but the prospect of falling rates isn’t the only reason—yield income is higher, too.

ETF options usage rises, and active ETF costs fall. Our experts examine these ETF industry trends and more.

Read Vanguard's 2024 outlook on the private equity market, including our latest forecasts and perspectives.

A semiannual review of fund industry cash flows finds increased levels of investors’ risk appetite.

Hiring has moderated in recent months, which aligns with employment reports, suggesting a slower summer hiring season.

We may be approaching a turning point in the economic cycle, historically a good environment for higher-quality bonds.

Investing the cash sitting in IRAs could help put millions of Americans on a better path to retirement.

We survey the global economy and review a potential—and likely false—recession signal.

A rising unemployment rate may not be truly indicative of the labor market.

Vanguard research considers the key factors for success in a tax-loss harvesting-strategy.

Shelter inflation and underlying labor momentum will keep the Fed cautious ahead.

Vanguard research explores whether investors can build additional wealth by using 529 plans for K–12 tuition.

High-flying stocks command investors’ attention. Do they affect market returns as much as the worst performers?

In a 4-minute video, our chief economist contends that transformative technologies aid our health, happiness, and progress.

Predictions for soft landings and hard landings were off for 2024. Time to consider a delayed landing in 2025.  

In a 2-minute video, our chief economist considers the chance that artificial intelligence will transform lives.

Our experts discuss the ramifications of central banks diverging in their monetary policy this year.

A leader in Vanguard Fixed Income Group discusses opportunities in an expanding emerging markets debt arena.

Here’s why slowing globalization is unlikely to lead to worrying inflation, particularly in the U.S.

The retirement savings gap has narrowed, but most baby boomers still face shortfalls.

Bill Coleman and his team seek “the best possible experience” for ETF investors.

Our research quantifies the value of securities lending for the industry and at Vanguard.

Our research looks at hybrid annuity TDFs—their investment merit and the potential challenges that come with them.

A new Vanguard research paper evaluates the match formulas of more than 1,300 employer-sponsored retirement plans.

Vanguard makes the case for the benefits of a fund of funds structure for suitable individual investors to access the private equity markets. 

ETF inflows and market returns rose amid shifting perceptions of when the Fed might start easing credit costs.

To celebrate 529 Day, we feature some of our best perspectives to help investors tackle college expenses.

Workers of all ages are seeing a rise in hiring, but it’s really just lower-income workers who are driving the increase.

Allocating to TIPS requires skill as it’s difficult to predict the path of inflation and interest rates.

We survey the global economy and preview our forthcoming research into artificial intelligence and demographic forces.

There’s a gap between the median IRA balances of women and men, according to our research.

Avoiding investor biases can help both novice and seasoned investors achieve their goals.

Investors remain confident about short- and long-term stock return expectations, according to the latest Vanguard Investor Expectations Survey.

The Fed could have limited room to cut rates and may need to remain on hold until the end of the year.

A look at opportunities in the muni bond market for active managers to deliver better-than-market returns.

Vanguard’s James J. Rowley, Jr., CFA, analyzes the impact of market environment on active performance.

ETFs have exploded in growth, and within the ETF ecosystem, the exchanges play a vital role that goes beyond being a listing venue. Three major U.S. exchanges provide insights on their roles and the future of ETFs.

Portfolio managers from our Quantitative Equity Group explain their use of machine learning. Interpretability is key.

The economic future is unlikely to look like the recent past. Artificial intelligence or demographics will drive change.

The Fed and the ECB may be taking very different paths in their monetary policies, impacting inflation and portfolios.

Our global survey of economic conditions features the role of shelter and services in U.S. inflation rates.

Our framework for cash investing takes into account risk tolerance, investment horizon, and funding levels.

AI is enhancing our ability to serve clients, and we’re just getting started. More from our CEO and CIO.

Vanguard experts say effective financial advice and investment products have shrunk an investor “behavior gap.”

Vanguard economists weigh in on why the dollar is the global reserve standard and the likelihood of an alternative emerging.

Aurélie Denis discusses Vanguard’s approach to managing target-date funds and differences from our competitors.

There’s more to Vanguard than index funds. Our global head of fixed income explains our active fixed income methodology.

Demand for lower-income workers has supported strong inflation-adjusted wage growth.

Watch a 2-minute video featuring Vanguard’s global chief economist and head of fixed income credit.

This article provides information about the Vanguard Investor Choice pilot program and updates since its launch.

Vanguard’s Jumana Saleheen explains why bonds now stand to offer greater value than equities in a portfolio.

What’s the strategy with the lowest tax liability when making withdrawals from an inherited IRA?

Investors can employ diversification strategies beyond just asset allocation. Think about taxes and longevity risk, too.

IRA cash is a billion-dollar blind spot. Our recent survey of rollover IRA investors examines some of the reasons why. 

Our proven approach is focused on safeguarding and promoting investors' long-term financial returns.

New research provides a foundational framework for considering index and active fund investing.

401(k) savers are saving more than ever before, thanks in large part to plan design improvements over the past 20 years.

Vanguard examines the benefits of maintaining a consistent commitment strategy to fully capture the increased return potential and diversification benefits of private equity.

In this short video, Vanguard’s global chief economist discusses the economic and market outlook for 2025. 

Portfolio managers Halsey Morris and Anna Lundén of Wellington Management discuss their all-cap, multidisciplinary approach to security selection.

Vanguard’s Joe Davis says the overall U.S. stock market is more overvalued than at any point since early 2001.

A region-by-region look at Vanguard’s latest take on what’s driving U.S. and international markets.

Vanguard’s Janel Jackson discussed our strategic initiatives in the ETF market and more with Bloomberg.

At Vanguard, quantitative equity funds leverage science, data, and the human touch to help drive better outcomes.

Large employers are proceeding with caution in hiring new workers, and lower-income job hires continue to moderate.

We expect continued global economic growth and rate cuts, but also inflationary pressures.

An in-depth commentary and analysis of recent economic trends affecting ETF investors.

Joel Fried and Al Mordecai, portfolio managers for Vanguard PRIMECAP Fund, discuss the fund’s origins, philosophy, and portfolio.

Following the U.S. presidential results, Greg Davis reminds investors to keep a long-term perspective.

We expect interest rates to settle well above their pre-pandemic levels, and that makes a strong case for bonds.

With the global interest rate-cutting cycle underway, our view is that a soft landing looks more and more likely.

How plan sponsors and consultants can use our How America Saves report to enhance participant retirement readiness.

A look at how capital gains generated by mutual funds and ETFs are taxed. 

After losses in 2022, returns for the 60/40 portfolio are again positive, reaffirming this allocation’s benefits.

We survey the global economy and highlight a sign of healthy balance in the U.S. labor market.

Vanguard’s Fiona Greig discusses why saving and investing shouldn’t pause because of a job change.

Expect to hear more about r-star, or the neutral rate of interest, as the Fed recalibrates its monetary policy.

Global credit markets can offer enhanced yield, often without an increase to credit or duration risk.

After decades of stagnant economic and market growth, Japan may finally be on the path of a sustainable rebound.

Our research shows that changes in interest rates may alter the risk profiles of bond funds. Now might be the time for a checkup. 

Large employers are hiring at the slowest pace since June 2020, indicating a cooling in the broader labor market.

Investors’ high spirits about short- and long-term returns aren’t budging, per the latest Investor Expectations Survey. 

We survey the global economy and highlight two history lessons for Chinese policymakers facing deflation risk.