At any other firm, it would be a newsworthy day. For us, it is business as usual.

Today, 53 Vanguard mutual fund share classes, including 21 ETFs, reported lower expense ratios in their fiscal 2015 (the 12 months ended August 31, 2015). That amounts to an aggregate cost saving of $12.4 million.¹

It’s business as usual because Vanguard has a history of being a low-cost leader. As I wrote last month, we’ve consistently and continually lowered the cost of investing for 40 years.

What’s more, we lowered expense ratios on more than just a few funds. Five fund categories experienced reductions: bond index, equity sector index, size/style index, social index, and actively managed equity.

At Vanguard, what you see is what you get: a commitment to low-cost investing rooted in the understanding that lower costs can improve the chances of investment success.

Curious why “dog bites man”? Here’s a lesson in newsworthiness.

1 Vanguard calculation, based on average fund assets over a 12-month period and the change in expense ratios through fiscal 2015.


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