Paying too much for your mutual funds or ETFs? 

The less you pay in investment expenses, the more of your returns you get to keep—an advantage that can compound over time. That's why it can be smart to choose a fund or an exchange-traded fund (ETF) with a lower expense ratio. See how much you could save by comparing your fund's costs with the costs of a similar Vanguard fund or ETF.

Before investing, always consider whether a fund or an ETF is appropriate for your financial goals and understand its investment objectives, strategies, and risks.

Compare your fund's or ETF's costs to the costs of a similar Vanguard fund or ETF

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"In every single time period and data point tested, low-cost funds beat high-cost funds."

—Morningstar study*

Why do costs matter?
When you invest at cost, you can keep more of your returns—and over time that could translate into a performance edge. A study by Morningstar, the independent research firm, found that focusing on expense ratios helps you make better investment decisions.

Read the Morningstar study »

You must buy and sell Vanguard ETF Shares through a broker like Vanguard Brokerage Services (we offer them commission-free), or through another broker (you may incur commissions). Vanguard ETFs are not redeemable directly with the issuing fund other than in creation unit aggregations. Like stocks, ETFs are subject to market volatility. When buying or selling an ETF, you'll pay or receive the current market price, which may be more or less than net asset value.

* The Morningstar study covered expense ratios from 2005 through 2008 and then tracked the funds' progress through March 2010. Total returns were measured as of the end of March 2010 for mutual funds that survived the study period. The study found that in every asset class over every time period, funds in the cheapest quintile produced higher total returns than those in the most expensive quintile.

Vanguard average mutual fund expense ratio: 0.12%. Industry average mutual fund expense ratio: 0.69%. All averages are asset-weighted. Industry averages exclude Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2016.