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Vanguard - Learn more about NTF funds
Personal Investors

Types of non-Vanguard funds available

Vanguard Brokerage clients can choose from thousands of non-Vanguard funds, many without commissions or loads.

Funds available with no transaction fees (NTF) are subject to the greater of the FundAccess® program minimum investment requirements ($3,000 initial and $1,000 additional investments for nonretirement accounts and $1,000 initial and additional investments for IRAs) or the minimum investment requirements as identified in the fund's prospectus. From time to time, Vanguard Brokerage Services® ("Vanguard Brokerage") may negotiate minimum investment requirements with a particular fund family that are greater than or less than the program standards noted above.

A 1% redemption fee applies to NTF shares held less than or equal to 180 calendar days, with a minimum fee of $50 and a maximum fee of $250. The 180-day holding period begins on the trade date of the purchase. The applicability of the NTF redemption fee is determined on the trade date of the redemption. (The redemption fee is waived for shares transferred from another brokerage firm or financial institution.)

There is no transaction fee for dollar-cost averaging.

Transaction-fee (TF) and load (LOAD) funds are subject to the greater of the FundAccess program minimum investment requirements ($1,000 initial and additional investments for nonretirement accounts and IRAs) or the minimum investment requirements as identified in their prospectus.

Load-waived funds are those for which the fund family normally charges a sales fee ("load") but waives the fee for clients or trading platforms that meet certain criteria, like purchasing the funds through your Vanguard Brokerage Account. Vanguard Brokerage frequently negotiates arrangements with fund families to offer their funds without a load to our clients.

Note: From time to time, Vanguard Brokerage may negotiate minimum investment requirements with a particular fund family that are greater than or less than the program standards noted above. Individual fund families may impose additional minimums, fees, or charges. For complete information, read the fund prospectus carefully before investing. The offering conditions of the various funds included in the FundAccess program are subject to change at any time, including, but not limited to, fee classification (NTF, TF, or LOAD) and transfer eligibility.

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