Expense Ratio History

VTWNX expense ratio history

Vanguard Target Retirement 2020 Fund, Investor Shares

Fund company
Vanguard
Type
Mutual fund

0.08%

In basis points
8 basis points
Yearly cost per $10,000
$8
Prospectus dated
28 January 2026, filed with the SEC; rounded to 0.01%
Last change
Cut from 0.13% on 31 January 2023

Fee over time

VTWNX expense ratio: 0.14% until 25 Jan 2018, then 0.13%; 0.13% until 31 Jan 2023, then 0.08%; read at 0.08% on 28 Jan 2026.0.00%0.05%0.10%0.15%0.20%Jan 2016Oct 2017Jul 2019Apr 2021Jan 2023Oct 20240.14% before0.08% from 31 Jan 2023
VTWNX expense ratio: 0.14% until 25 Jan 2018, then 0.13%; 0.13% until 31 Jan 2023, then 0.08%; read at 0.08% on 28 Jan 2026.0.00%0.05%0.10%0.15%0.20%Jan 2016Jun 2019Nov 20220.14% before0.08% from 31 Jan 2023
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.

Every figure we've recorded

DateFeeWhat happened
28 Jan 2026 0.08% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-01-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Jan 2025 0.08% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-01-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Jan 2024 0.08% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-01-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Jan 2023 0.08% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-01-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Jan 2023 0.08% Cut from 0.13% to 0.08%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2023-01-31
31 Jan 2022 0.13% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-01-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Jan 2021 0.13% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-01-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Jan 2020 0.13% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-01-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Jan 2019 0.13% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-01-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
25 Jan 2018 0.13% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-01-25 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
25 Jan 2018 0.13% Cut from 0.14% to 0.13%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2018-02-15
12 Jul 2017 0.14% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-07-12 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
27 Jan 2017 0.14% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-01-27 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Jan 2016 0.14% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-01-28 (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 0.08% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$103 in fees over 10 years

After fees, $10,000 grows to $16,162.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$8.20
3 years$26
5 years$45
10 years$103

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 12 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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