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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, 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
    11/1/2018 McNabb Finishes Passing the Vanguard Baton 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
    5/22/2017 Filings for Fundsters - May 22, 2017 MFWire.com
    5/17/2017 Schwab and Guggenheim Had a Huge April, and BlackRock Nudges Past Vanguard MFWire.com
    5/16/2017 Follow the Fundsters - May 16, 2017 MFWire.com
    5/16/2017 These Fund Firms and B-Ds Are Seen as Great Employers MFWire.com
    5/12/2017 Filings for Fundsters - May 12, 2017 MFWire.com
    5/5/2017 ICI GMM 2017 Wrap Up MFWire.com
    5/4/2017 The New Fund Fuss - May 4, 2017 MFWire.com
    5/4/2017 Morgan Stanley Cuts Off Vanguard, Except ... MFWire.com
    5/1/2017 Week In Preview: ICI GMM and More MFWire.com
    4/28/2017 M* Shares High Hopes For These Nine Managers MFWire.com
    4/24/2017 Week In Preview: Early M* in Chitown, Gemini in the Big Easy MFWire.com
    4/18/2017 A Breath of Hope For the Other Fund Firms MFWire.com
    4/17/2017 Week In Preview: Fundsters Gather in NYC and Directors in DC MFWire.com
    4/6/2017 Ivascyn Regains One of Pimco's Old Crowns, With a Newer Fund MFWire.com
    4/4/2017 ETF Inflows Quadruple and Stay Concentrated MFWire.com
    4/3/2017 Previewing Tiburon and More in NYC, NICSA in Beantown MFWire.com
    3/31/2017 SSgA's SHE Sweeps MFWire.com
    3/24/2017 Vanguard, Nuveen, and Morgan Stanley Win Big in Gotham MFWire.com
    3/20/2017 Filings for Fundsters - March 20, 2017 MFWire.com
    3/17/2017 13 Fund Firms Had a $1B February MFWire.com
    2/27/2017 The $4T Firm and the $1T Biz MFWire.com
    2/21/2017 TIAA and Passive Players Won January MFWire.com
    1/31/2017 TD's Nally Gathers a Record Crowd in SoCal MFWire.com
    1/27/2017 Filings for Fundsters - January 27, 2017 MFWire.com
    1/24/2017 Will ETF Shops Pay $50K or More For Wirehouse Data and Access? MFWire.com
    1/20/2017 Will You Help Elizabeth Warren Save the Fiduciary Reg? MFWire.com
    1/19/2017 Vanguard, BlackRock, and SSgA Won 2016 MFWire.com
    1/19/2017 71 Percent of Big Fund Firms Suffered in December MFWire.com
    1/12/2017 And the 2016 Fund Manager of the Year Nominees Are... MFWire.com
    1/6/2017 Filings for Fundsters - January 6, 2017 MFWire.com
    1/3/2017 A Record Year, On Multiple Levels MFWire.com
    12/30/2016 The Most Popular MFWire Stories of 2016 MFWire.com
    12/27/2016 State Street Beat Out Vanguard in November MFWire.com
    12/27/2016 How Do You Compete In the Age of Vanguard? MFWire.com
    12/14/2016 2016's Fastest Growing ETF Shop Is ... MFWire.com
    11/25/2016 Filings for Fundsters - November 25, 2016 MFWire.com
    11/25/2016 The Mother and Father of Index Funds Push Back MFWire.com
    10/25/2016 Fundsters Meet in Beantown as Directors Meet in Chitown MFWire.com
    10/20/2016 The New Fund Fuss - October 20, 2016 MFWire.com
    10/19/2016 Aberdeen and OpFunds Win Big in Chicago MFWire.com
    10/14/2016 The New Fund Fuss - October 14, 2016 MFWire.com
    10/12/2016 People on the Move - October 12, 2016 MFWire.com
    10/11/2016 Clark and Vanguard Lead the ETF Strategist Pack MFWire.com
    10/10/2016 ETF Shops Rake In $6B Per Year MFWire.com
    10/3/2016 Filings for Fundsters - October 3, 2016 MFWire.com
    9/29/2016 Filings for Fundsters - September 29, 2016 MFWire.com
    9/16/2016 Big ETF Shops and Lord Abbett Shined in August MFWire.com
    9/7/2016 A Triumphant Bogle Predicts a Giant Fund Firm Deal MFWire.com
    9/1/2016 The Big Index Mutual Fund Four-Oh MFWire.com
    8/30/2016 Can Pershing and Lockwood Kickstart FAs' Offerings For Smaller Investors? MFWire.com
    8/18/2016 Filings For Fundsters - August 18, 2016 MFWire.com
    8/16/2016 Filings For Fundsters - August 16, 2016 MFWire.com
    8/15/2016 Four Firms Dominated July Inflows MFWire.com
    8/9/2016 The Billion-Dollar Share Class MFWire.com
    7/19/2016 Only One Category of Active Funds Won In June MFWire.com
    6/17/2016 Three Fund Firms Brought In More than $2B Each In May MFWire.com
    6/16/2016 M* Investment Conference 2016 In Pictures MFWire.com
    6/15/2016 McNabb Predicts a Fee Crunch ... For FAs MFWire.com
    6/10/2016 M* 2016 Preview MFWire.com
    5/19/2016 These Two Fund Firms Are the Most Important MFWire.com
    5/18/2016 McNabb to ICI: Think Global MFWire.com
    5/17/2016 ICI GMM 2016 Is About to Begin MFWire.com
    5/16/2016 Seven Months and Counting: Vanguard Is Still On Top MFWire.com
    4/27/2016 A Dozen Fund Firms Win in Gotham MFWire.com
    4/20/2016 The Most Successful Money Managers Are Actually Something Else MFWire.com
    4/14/2016 DoubleLine, AB, and BlackRock Killed It In March MFWire.com
    3/24/2016 Don't Launch Target Date Funds; Join Them MFWire.com
    3/23/2016 101 Fund Families Win in Gotham MFWire.com
    3/18/2016 DoubleLine and AB Crush It MFWire.com
    3/17/2016 Two ETF Strategists Dominated 2015 MFWire.com
    3/17/2016 GSAM and WisdomTree Win Big in the Big Apple MFWire.com
    3/15/2016 Pimco, BlackRock, and Janus vs ... Everybody Else? MFWire.com
    3/14/2016 Reopen These Funds! MFWire.com
    3/11/2016 Prepare For ICI's MFIM 2016! MFWire.com
    2/10/2016 One Subadvisor Leaves a $10B Vanguard Fund MFWire.com
    2/3/2016 Abby Johnson, Larry Fink, and Tim Armour All Walk Into a Bank ... MFWire.com
    1/28/2016 Keep an Eye on AB, Guggenheim, and Janus MFWire.com
    1/26/2016 Lovelace Wins, And Another Fund Giant Wins Twice MFWire.com
    1/22/2016 Presidential Contenders Prefer This Fund Family MFWire.com
    1/20/2016 iShares, SSgA, and WisdomTree Lead This Pack MFWire.com
    1/19/2016 Which Fund Firm Won 2015? MFWire.com
    1/12/2016 PMs For 12 Fund Firms Catch M*'s Eye MFWire.com
    1/8/2016 If Vanguard's Mutual Funds Aren't Cheap Enough For 401ks ... MFWire.com
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