Expense Ratio History

BND expense ratio history

Vanguard Total Bond Market ETF

Fund company
Vanguard
Type
ETF

0.03%

In basis points
3 basis points
Yearly cost per $10,000
$3
Read on
19 October 2026, from Vanguard fact sheet (PDF)
Last change
Cut from 0.04% on 29 April 2022

Fee over time

BND expense ratio: 0.06% until 26 Apr 2017, then 0.05%; 0.05% until 26 Apr 2019, then 0.04%; 0.04% until 29 Apr 2022, then 0.03%; read at 0.03% on 19 Oct 2026.0.00%0.02%0.04%0.06%0.08%Apr 2016Feb 2018Dec 2019Oct 2021Aug 2023Jun 20250.06% before0.03% from 29 Apr 2022
BND expense ratio: 0.06% until 26 Apr 2017, then 0.05%; 0.05% until 26 Apr 2019, then 0.04%; 0.04% until 29 Apr 2022, then 0.03%; read at 0.03% on 19 Oct 2026.0.00%0.02%0.04%0.06%0.08%Apr 2016Nov 2019Jun 20230.06% before0.03% from 29 Apr 2022
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Share classes

The same fund is sold as 6 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
VBMFX Investor Shares 0.15% — 28 Apr 2026
VBTLX Admiral Shares 0.04% — 28 Apr 2026
VBTIX Institutional Shares 0.03% — 28 Apr 2026
BND (this page) ETF Shares 0.03% — 28 Apr 2026
VBMPX Institutional Plus Shares 0.02% — 28 Apr 2026
VTBSX Institutional Select Shares 0.01% — 28 Apr 2026

Every figure we've recorded

DateFeeWhat happened
19 Oct 2026 0.03% Read from the sourceExpense ratio as reported in the most recent prospectus (fact sheet dated 30 June 2026)Source: Vanguard fact sheet (PDF)
28 Apr 2026 0.03% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-04-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Apr 2025 0.03% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-04-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
26 Apr 2024 0.03% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-04-26 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Apr 2023 0.03% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-04-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Apr 2022 0.03% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-04-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Apr 2022 0.03% Cut from 0.04% to 0.03%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2022-04-29
29 Apr 2021 0.04% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-04-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Apr 2020 0.04% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-04-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
26 Apr 2019 0.04% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-04-26 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
26 Apr 2019 0.04% Cut from 0.05% to 0.04%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2019-05-16
26 Apr 2018 0.05% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-04-26 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
26 Apr 2017 0.05% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-04-26 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
26 Apr 2017 0.05% Cut from 0.06% to 0.05%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2017-05-11
26 Apr 2016 0.06% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-04-26 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 0.03% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$39 in fees over 10 years

After fees, $10,000 grows to $16,241.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$3.07
3 years$9.69
5 years$17
10 years$39

How we read this figure

We recorded it as: Expense ratio as reported in the most recent prospectus (fact sheet dated 30 June 2026). The figure is copied exactly as the source shows it, and dated the day we read it.

SEC filings give 11 prospectuses for this share class since 2016. Each one is listed above with a link to the filing.

How we read fees

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