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MFWire: Vanguard Funds and ETFs
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Vanguard Group, The
100 Vanguard Blvd
Malvern, PA  19355
Google Maps

Main Phone: 800-523-1036
Web Site: http://vanguard.com/

Mutual Fund Brand(s)
Vanguard Funds and ETFs

Research Links
  • SEC Fund Filings by CIK

  • Background:
    The only mutually-owned mutual fund firm, the Vanguard Group of Mutual Funds is known for its index funds and low-cost actively managed funds. Typically, its actively managed funds rely on subadvisors for their portfolio management. Its ownership structure, use of subadvisors and scale as an indexer have enabled Vanguard to build a reputation as the lowest cost mutual fund provider while propelling it to become (by 2015, if not earlier), in the words of one industry watcher, "the most dominant fund company in history." As of the end of 2016, that dominance shows now signs of slowing down.

    That low-cost philosophy has dictated aspects of Vanguard's strategic evolution. Because its funds carry no distribution fees or 12b-1 charges, it does not pay revenue sharing to distribution partners. In the 401(k) market, Vanguard traditionally limited offering its recordkeeping services to the large plan market where plans are sold directly. Yet Vanguard now also partners with Ascensus to reach small market 401(k) plans via TPAs and advisors.

    On the retail side of its business, its funds carry larger-than-average minimum purchase requirements as its low revenue per dollar of AUM make very small accounts unprofitable.

    Vanguard's roots date to 1928 when Walter L. Morgan founded the Wellington Fund. Vanguard itself was founded by John "Jack" Bogle in September 1974 to act as the advisor to the Wellington Fund. In January of that year Wellington Management had fired Bogle as its CEO and president. However, the independent board of the Wellington Funds had voted to retain Bogle as the mutual funds chairman.

    Bogle brought his vision of low cost investing and indexing along with an innovative ownership structure to what he called his "Vanguard experiment". Since its founding Vanguard has been mutually owned by the shareholders in the mutual funds that it sponsors. That ownership structure remains unique among major fund firms.

    Its first mutual fund was the Vanguard Wellington Fund for which Wellington served as the subadvisor.

    Vanguard did not launch its first index fund -- First Index Investment Trust (now Index 500) -- until 1976, nearly two years after its founding.

    Vanguard hires subadvisors to manage its non-indexed funds.

    In 1977 Vanguard dropped sales-loads on its funds and adopted a direct-sold distribution strategy. That year it also adopted a "defined maturity" structure for its bond funds, dividing its funds into short, intermediate and long-term portfolios. A year later it began managing a portion of its fixed income investments in-house rather than through a subadvisor.

    In 2000, Vanguard created the Admiral share class to pass on the lower costs of administering large balance accounts to those shareholders.

    Jack Brennan took the CEO reins from Bogle in 1999. William McNabb succeeded Brennan as CEO at the end of August 2008.

    Employees at Vanguard are known as "crew" members and the fund firm's headquarters is known as the "shipyard" and even the dining rooms are known as "galleys". The motif and Vanguard's name derives from Lord Horatio Nelson's fleet at the battle of the Nile. Nelson's flagship at the battle was theHMS Vanguard.

    The low-cost juggernaut now manages over $3.5 trillion as of June 30, 2016.
    Vanguard Group, The logo

    Sponsored Opportunities

    Key People:
    Tim Buckley
    President, CEO, Director, The Vanguard Group
    Bill McNabb
    Chairman, The Vanguard Group
    Tom Rampulla
    Managing Director, Head of U.S. Financial Intermediaries Business, Vanguard
    Martha King
    Managing Director, Head of Institutional Investor Group, Vanguard
    Chris McIsaac
    Managing Director, Planning and Development Group, Vanguard Group, The
    Karin Risi
    Managing Director, Retail Investor Group, Vanguard Group, The
    Greg Davis
    Chief Investment Officer, Managing Director, Vanguard Group, The
    Anne Robinson
    General Counsel, Vanguard Group, The
    Mike Rollings
    Chief Financial Officer, Managing Director of the Finance Division, Vanguard Group, The
    Jim Norris
    Managing Director of International Operations, The Vanguard Group
    Glenn Reed
    Managing Director, Strategy Division, The Vanguard Group
    Kathy Gubanich
    Managing Director, Human Resources, The Vanguard Group
    Pauline Scalvino
    Head of Corporate Strategy, Vanguard
    Melissa Nassar
    Principal, Retail Investor Services: Business Development Group, Vanguard
    John Marcante
    Head of Information Technology, Vanguard Group, The
    Story Archive for Vanguard Group, The
    Published On Story Headline Publication
    9/22/2021 The Six Most Trusted Fund Firms Are ... MFWire.com
    8/27/2021 Active Inflows Fall 40 Percent, and Passive Falls, Too, But ... MFWire.com
    8/5/2021 Sans Mandate, an MF Titan Offers Vaccine Bonuses MFWire.com
    7/14/2021 Vanguard and BlackRock Bet On a Pair of Startups MFWire.com
    5/19/2021 The Low-Cost Leviathan Brings PE to Retail MFWire.com
    4/23/2021 A $2T-AUM Investing Chief Passes the Reins MFWire.com
    4/15/2021 Some Fundsters and Fund Firms Sign a Voting Rights Ad MFWire.com
    3/15/2021 MF and ETF Inflows Quintuple MFWire.com
    3/12/2021 100 Fund Firms Win Big, With Morgan Stanley Leading the Pack MFWire.com
    2/17/2021 Despite a January Dip, Inflows Rise YOY MFWire.com
    1/19/2021 2020 Inflows Fell, But Giants' Dominance Grew MFWire.com
    12/23/2020 Vanguard Brings a Large Plan Offering Downmarket 401kWire.com
    12/4/2020 New Retail and Planning Chiefs Rise At Vanguard MFWire.com
    11/2/2020 A $13.8B-AUM Shop Teams Up With the Low-Cost Leviathan MFWire.com
    10/15/2020 33 Years In, a Top Vanguard Stock Indexer Retires MFWire.com
    9/15/2020 JPMAM Takes the Lead As Titans' Inflows Slip Again MFWire.com
    9/4/2020 $1T Versus $13.94B MFWire.com
    8/21/2020 Active Inflows Fall 58 Percent MFWire.com
    8/14/2020 Inflows Fall 41 Percent MFWire.com
    8/6/2020 Fundster CEOs Get Out the Vote, and One Hosts a Fundraiser MFWire.com
    7/16/2020 Titans' Inflows Climb Another 85 Percent MFWire.com
    7/9/2020 An ETF Vet Guides a $606B-AUM Giant In MFWire.com
    5/6/2020 Vanguard's Profit-Sharing Growth Slows a Bit MFWire.com
    3/20/2020 Back On Top After Two Months MFWire.com
    3/16/2020 Inflows Plunge By 69 Percent MFWire.com
    3/10/2020 The 33 Most Influential Women In the U.S. Fund Biz MFWire.com
    3/6/2020 170 Fundsters Gather As 92 Fund Firms Win Big MFWire.com
    2/6/2020 A Trillion-Dollar Fund? MFWire.com
    1/23/2020 JPMAM Keeps Its Lead MFWire.com
    1/22/2020 Industry Inflows Proportionately Doubled In 2019 MFWire.com
    1/15/2020 The $183B Year MFWire.com
    1/13/2020 Fundsters Added $3.9T In AUM Last Year MFWire.com
    12/30/2019 Who Runs the Best Funds of the Year? MFWire.com
    12/19/2019 A Bank's Active Funds Lead MFWire.com
    12/12/2019 While Active Outflows Vanish, BlackRock Three-Peats MFWire.com
    11/12/2019 Passive Inflows and Active Outflows Both Fall MFWire.com
    10/21/2019 Passive Inflows Double In Two Months MFWire.com
    10/18/2019 A Focused Growth Shop Wins in September MFWire.com
    10/14/2019 BlackRock Retakes the Lead, But ... MFWire.com
    9/24/2019 Lord Abbett Takes the Active Lead MFWire.com
    9/17/2019 Active and Passive Both Suffered Billions In August Outflows MFWire.com
    8/26/2019 The Feds Sentence an Ex-Vanguard Vet MFWire.com
    8/19/2019 Active Outflows Disappear As Passive Inflows Fall MFWire.com
    8/12/2019 One Fund Firm's Inflows Fall $38B In a Month MFWire.com
    8/1/2019 A Vanguard Marketer Shifts MFWire.com
    7/22/2019 Pimco and BlackRock Win In June MFWire.com
    7/15/2019 The Three ETF Titans Crushed It In June MFWire.com
    6/28/2019 The $1T ETF AUM Club Doubles MFWire.com
    6/25/2019 Will the Low-Cost Leviathan Retry This Next? MFWire.com
    6/19/2019 A Virginia Shop Wins In May MFWire.com
    6/13/2019 The Leviathan Recovers the Pole Position MFWire.com
    6/13/2019 U.S. Fundsters Advance In China and Mexico MFWire.com
    6/11/2019 How Much Would Vanguard Have Paid Bogle In His Last Year? MFWire.com
    6/6/2019 Windsor's Lion Dies MFWire.com
    5/20/2019 Fidelity Both Won and Lost Last Month MFWire.com
    5/13/2019 Another Titan Breaks the Flows Duopoly MFWire.com
    5/10/2019 Loomis, Primecap, and Vanguard Win Big In Chi-Town MFWire.com
    4/23/2019 A Midwestern Shop Leads the Active Pack MFWire.com
    4/16/2019 Fidelity and T. Rowe Lead This New Old Awards Race MFWire.com
    4/15/2019 The Largest Firms Gobble 98 Percent of Flows MFWire.com
    3/29/2019 BlackRock and a Top BlackRock Alum Both Win Big MFWire.com
    3/19/2019 Bogles' Bunch Dominates Both Sides MFWire.com
    3/18/2019 A $100B Family Office Takes the Fund Flows Lead MFWire.com
    3/12/2019 Passive Inflows Drive February Growth MFWire.com
    3/8/2019 T. Rowe, Fidelity, Pimco and OpFunds Crush It In Gotham MFWire.com
    2/21/2019 Flows Rebound, and Vanguard Retakes the Lead MFWire.com
    2/11/2019 Week In Preview, February 11-18 MFWire.com
    2/1/2019 ETF Titans Lead an Award Race MFWire.com
    1/31/2019 Who Gained Market Share In 2018? MFWire.com
    1/29/2019 Bridge Builder Won Proportionately Last Year, But Not In December MFWire.com
    1/28/2019 Active Outflows Dwarf Passive Inflows MFWire.com
    1/18/2019 Only Five Behemoths Netted December Inflows MFWire.com
    1/18/2019 Mourning Bogle MFWire.com
    1/17/2019 Only Two Firms Added More Than $10B In 2018 MFWire.com
    1/16/2019 Jack Bogle Dies MFWire.com
    1/8/2019 The Low-Cost Leviathan's Growth Slows, But ... MFWire.com
    1/3/2019 Only Three Heads of State Beat This Fundster MFWire.com
    1/2/2019 Even Passive Funds Slipped In 2018 MFWire.com
    12/24/2018 Passive Inflows and Active Outflows Rise MFWire.com
    12/17/2018 BlackRock Catapults Back to the Lead MFWire.com
    11/27/2018 Vanguard Simultaneously Won and Lost Last Month MFWire.com
    11/19/2018 Two-Thirds of the Giants Suffer Outflows MFWire.com
    11/1/2018 McNabb Finishes Passing the Vanguard Baton MFWire.com
    10/17/2018 New Lens: Active vs Passive Winners MFWire.com
    10/10/2018 SSgA Rebounds, and Vanguard's Flows Double MFWire.com
    10/8/2018 Week In Preview, October 8-14 MFWire.com
    10/1/2018 Week In Preview, October 1-7 MFWire.com
    9/14/2018 GSAM Roars, and BlackRock Retakes the Lead MFWire.com
    9/10/2018 Week In Preview, September 10-16 MFWire.com
    8/13/2018 Flows Brighten, and Passive Titans Lead MFWire.com
    8/7/2018 Richard Bernstein Takes the Lead Proportionately MFWire.com
    7/26/2018 When FAs Want Portfolio Construction Help, They Turn to ... MFWire.com
    7/16/2018 Vanguard Retakes the Lead as Flows Plunge MFWire.com
    7/13/2018 An Ex-Delaware Consultant Resurfaces at Vanguard MFWire.com
    6/29/2018 There's a New Reigning Champ Among Fund Firms MFWire.com
    6/25/2018 Week In Preview, June 25-July 1 MFWire.com
    6/11/2018 Week In Preview, June 11-17 MFWire.com
    5/30/2018 BlackRock Beat Vanguard Last Month MFWire.com
    5/18/2018 The Fund Firm With the Best Advisor Rep Is ... MFWire.com
    4/27/2018 As Long-Term Flows Rebound, Vanguard Keeps the Lead MFWire.com
    4/20/2018 UBS Led This Pack As Vanguard Retook Another Crown MFWire.com
    4/11/2018 Active Share Catches a Regulator's Eye MFWire.com
    4/9/2018 Week In Preview, April 9-15 401kWire.com
    3/27/2018 Even Vanguard and BlackRock Took a Flows Hit MFWire.com
    3/23/2018 A Super-OSJ Preps Its Models For Cetera's Platform MFWire.com
    3/13/2018 Natixis and Vanguard Win Active Praise MFWire.com
    3/8/2018 Which Five TDF Giants Are Gaining Market Share? 401kWire.com
    2/28/2018 Nuveen, Vanguard, T. Rowe, and Fidelity Dominate in the Big Apple MFWire.com
    2/26/2018 Despite a Shift, Passive Titans Still Dominated January Flows MFWire.com
    2/20/2018 Week In Preview, February 20-25 MFWire.com
    2/16/2018 After Passing the Vanguard Reins, McNabb Adds a Midwestern Hat MFWire.com
    1/29/2018 Week In Preview, January 29-February 4 MFWire.com
    1/25/2018 Two Fund Firms, One $555B Year MFWire.com
    1/25/2018 SSgA Had a Great December MFWire.com
    1/24/2018 Fidelity Attacks Vanguard's 401k Free Ride 401kWire.com
    1/22/2018 Week In Preview, January 22-28 MFWire.com
    1/19/2018 An ETF Newcomer Ties BlackRock In an Awards Race MFWire.com
    1/16/2018 Week In Preview January 16-21 MFWire.com
    1/12/2018 T. Rowe, Fido, and Pimco Lead This Awards Race MFWire.com
    1/5/2018 Buckley Took Over Vanguard. What's Next? MFWire.com
    1/3/2018 A 30-Year Columbia Vet Helps Launch a Private Wealth Group MFWire.com
    12/21/2017 Even Vanguard and BlackRock Slowed Down a Bit MFWire.com
    11/27/2017 Guggenheim Rocks October as Two Titans Keep Gobbling MFWire.com
    10/30/2017 Week In Preview, October 30-November 5 MFWire.com
    10/24/2017 Despite a Delay, Nally Sticks to His NTF ETF Guns MFWire.com
    10/23/2017 Week In Preview - October 23-29 MFWire.com
    10/20/2017 The Vanguard-BlackRock Show Continued In September MFWire.com
    10/17/2017 TD's NTF ETF Platform Expands, Minus a Giant MFWire.com
    10/9/2017 The ETF Strategist Space Crowns a New King MFWire.com
    10/2/2017 Week In Preview, October 2-8 MFWire.com
    9/26/2017 Only One Active Shop Passed $1B in Inflows in August MFWire.com
    9/11/2017 Filings For Fundsters - September 11, 2017 MFWire.com
    9/6/2017 These Few Things Keep Bill McNabb Up At Night MFWire.com
    8/25/2017 Filings For Fundsters - August 25, 2017 MFWire.com
    8/24/2017 New Fund Fuss - August 24, 2017 MFWire.com
    8/21/2017 Vanguard and BlackRock Eclipse the Competition, Again MFWire.com
    8/9/2017 Filings for Fundsters - August 9, 2017 MFWire.com
    8/3/2017 New Fund Fuss - August 3, 2017 MFWire.com
    7/24/2017 Filings for Fundsters - July 24, 2017 MFWire.com
    7/20/2017 Vanguard and BlackRock Stay on Top While SSgA's Flow Woe Reverses MFWire.com
    7/18/2017 Follow the Fundsters - July 18, 2017 MFWire.com
    7/14/2017 The $4.4T Man Exits As the Good Times Keep Rolling MFWire.com
    7/13/2017 McNabb Is Stepping Down MFWire.com
    7/10/2017 ETF Titans Dominated ETF Strategist Growth in Q1 MFWire.com
    7/6/2017 Ivy, Oakmark, and First Trust Had a Big May MFWire.com
    7/6/2017 Are Index Funds Uncaring? McNabb Fires Back MFWire.com
    6/29/2017 Vanguard Retakes the Lead, and Schwab and Oakmark Also Rake It In MFWire.com
    6/14/2017 Follow the Fundsters - June 14, 2017 MFWire.com
    6/13/2017 Watch For Vanguard to Staff Up Here MFWire.com
    5/26/2017 Filings for Fundsters - May 26, 2017 MFWire.com
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