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Which ETFs are and aren't commission-free

Nearly the entire universe of ETFs are commission-free.

The only types of ETFs that aren't commission-free are leveraged and inverse ETFs, which account for only about 10% of all ETFs available. You might recognize them when you see "2x," "ultra," "daily," or something similar in the name of the ETF.

We exclude them for a good reason. Leveraged and inverse ETFs are intentionally designed to be bought and sold within a single trading day, making them extremely speculative in nature. We—and the vast majority of the Vanguard community—prefer to think long-term. It's as simple as that!

You can still buy and sell leveraged and inverse ETFs in your Vanguard Brokerage Account. You'll simply pay the same commissions as you would to trade individual stocks.

Leading the way on behalf of investors who think and feel differently about investing

Doing the right thing by giving you access to the vast majority of ETFs, all in one convenient place.

Doing the right thing by giving you access to the vast majority of ETFs, all in one convenient place.

Helping you achieve financial success by continuously reducing the cost and complexity of investing for more than 40 years.

Helping you achieve financial success by continuously reducing the cost and complexity of investing for more than 40 years.

Lowering your investment costs so more money stays in your account, working toward your financial goals.

Lowering your investment costs so more money stays in your account, working toward your financial goals.

Choose from a universe of ETFs

You've had access to commission-free Vanguard ETFs for almost a decade.1

Now you can enjoy commission-free online trading on about 1,800 ETFs (from a universe of around 2,000) from more than 100 other companies too.1

19 Vanguard ETFs named "best" by Money magazine

See which Vanguard ETFs made the list2See which Vanguard ETFs made the list

9 "building block" ETFs spotlighted by Money

Ticker Name Asset class Expense ratio Price/Change YTD 1-yr 5-yr 10-yr Since inception

Our #1 goal? Your investment success.

Long-term investment performance. Low costs. And 20 million other people who share your goals and dreams.

If you believe in long-term financial freedom over fads ... in planning ahead instead of reacting to the markets ... then you belong at Vanguard.

Bring all of your investments into one manageable view.

Learn more to help you get started

Examine mutual fund and ETF similarities and differences.

Examine mutual fund and ETF similarities and differences.

Find stock and bond ETFs from the U.S. and around the world.

Find stock and bond ETFs from the U.S. and around the world.

Get more discounted and free trades as your account grows.

Get more discounted and free trades as your account grows.

1Commission-free trading of Vanguard ETFs applies to trades placed both online and by phone. Commission-free trading of non-Vanguard ETFs excludes leveraged and inverse ETFs and applies only to trades placed online; most clients will pay a commission to buy or sell non-Vanguard ETFs by phone. Commission-free trading of non-Vanguard ETFs also excludes 401(k) participants using the Self-Directed Brokerage Option; see your plan's current commission schedule. Vanguard Brokerage reserves the right to change the non-Vanguard ETFs included in these offers at any time. All ETFs are subject to management fees and expenses; refer to each ETF's prospectus for more information. Account service fees may also apply. All ETF sales are subject to a securities transaction fee. See the Vanguard Brokerage Services commission and fee schedules for full details.

2The "MONEY 50" lists published in the January/February 2018 Investor's Guide of Money magazine focus on mutual funds and ETFs that have low costs and produce long-term returns that match or beat their benchmarks. Past performance cannot be used to predict future returns. Fund share prices will fluctuate, so investors could lose money if they sell when prices have fallen. This is not a recommendation to buy or sell a specific investment.

3For the 10-year period ended June 30, 2018, 30 of 33 Vanguard stock ETFs and 5 of 5 Vanguard bond ETFs—for a total of 35 of 38 Vanguard ETFs—outperformed their Lipper peer-group averages. Results will vary for other time periods. Only ETFs with a minimum 10-year history were included in the comparison. Source: Lipper, a Thomson Reuters Company. The competitive performance data shown represent past performance, which is not a guarantee of future results. View ETF performance

4Source: IHS Markit RegOne. Includes market orders entered from January 2, 2017, through December 29, 2017, during market hours with share sizes between 100 to 1,999. Excludes orders received during locked, crossed, or fast markets or during destination outages.

5Vanguard average ETF expense ratio: 0.08%. Industry average ETF expense ratio: 0.31%. All averages are asset-weighted. Industry averages exclude Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2017.

6Includes capital gains paid over the past 5 years as of December 31, 2017.

You must buy and sell Vanguard ETF Shares through Vanguard Brokerage Services (we offer them commission-free) or through another broker (which may charge commissions). Vanguard ETF Shares are not redeemable directly with the issuing fund other than in very large aggregations worth millions of dollars. ETFs are subject to market volatility. When buying or selling an ETF, you will pay or receive the current market price, which may be more or less than net asset value.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns will fluctuate. Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, see each ETF's profile.


All investing is subject to risk, including the possible loss of the money you invest. Bond ETFs are subject to the risk that the issuer will fail to make payments on time and that bond prices will decline because of rising interest rates or negative perceptions of an issuer's ability to make payments. Investments in stocks and bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. These risks are especially high in emerging markets. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility.