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Old 05-24-2012, 06:39 PM   #1
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Go Vanguard!!!

Not news to many here, but maybe for some newer members...
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Vanguard not only out front but now lapping the competition

Stock picking vs. indexing? Advisers may tout the virtues of active management, but investors are voting with their feet. And based on net inflows at Vanguard this year, this race isn't even close.

The Vanguard Group Inc., which is known primarily for its low-cost passive investments, had more than $65 billion of net inflows to its mutual funds and exchange-traded funds through the end of April, according to Morningstar Inc. That's almost quadruple the inflows of the next-best-selling fund group, Pacific Investment Management Co. LLC, which has more than $16.5 billion of inflows over the same time period. In fact, Vanguard's $65 billion of new investments this year account for 35% of the inflows for the entire industry.
http://www.investmentnews.com/articl...FREE/120519953

And more detail on relative inflows (top of page 3)
http://corporate.morningstar.com/us/...owsmay2012.pdf
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Old 05-24-2012, 07:06 PM   #2
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Thanks for something that us Mutual Fund junkies can sink our teeth into.
The fund flows update pdf is especially interesting. We can get that from M* monthly?

Vanguard trounces the competition.
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Old 05-25-2012, 08:45 AM   #3
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More good news for Vanguard account holders:

Quote:
Continuing our trend of lowering investment costs, we've eliminated or reduced fees on 34 Vanguard funds.
vanguard.com: fund-announcement
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Old 05-25-2012, 09:23 AM   #4
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More good news for Vanguard account holders:

vanguard.com: fund-announcement
They're dropping redemption and early redemption fees on lots of international funds. Is this a contrarian sign?

They're also dropping the minimums for three fixed income institutional class funds from $50M to only $5M. Seems like they'll let anybody in now - guess I'll have to look elsewhere for my fund options.
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Old 05-25-2012, 10:01 AM   #5
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Does it break it down between MF flows and ETF flows? That's the really story I think........... A lot of the MF companies doen't have ETF funds, so that may be some of the large inflows, as ETFs are growing exponentially as opposed to MF..........
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Old 05-25-2012, 10:59 AM   #6
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Does it break it down between MF flows and ETF flows? That's the really story I think........... A lot of the MF companies doen't have ETF funds, so that may be some of the large inflows, as ETFs are growing exponentially as opposed to MF..........
But in a market saturated with ETFs, the fact that inflows still heavily favor Vanguard means something. To my knowledge, there isn't a vanguard ETF that doesn't have a similar (albeit crappier) alternative from another company. In fact, they were late to the game for a couple of the asset classes I invest in, and as a result I chose a competitors ETF product since Vanguard didn't have one available at the time.
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Old 05-25-2012, 11:51 AM   #7
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As VG approaches 0% ER in many Admiral funds, one wonders what will happen in the future. As a long time VG investor, I assume that they already have this "problem" resolved @ Valley Forge.

"Less is More."
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Old 05-25-2012, 12:57 PM   #8
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As VG approaches 0% ER in many Admiral funds, one wonders what will happen in the future.
They'll make it up in volume.
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Old 05-25-2012, 01:51 PM   #9
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But in a market saturated with ETFs, the fact that inflows still heavily favor Vanguard means something. To my knowledge, there isn't a vanguard ETF that doesn't have a similar (albeit crappier) alternative from another company. In fact, they were late to the game for a couple of the asset classes I invest in, and as a result I chose a competitors ETF product since Vanguard didn't have one available at the time.
What I was getting at was wondering if the MF versus ETF flows were 50/50, 30/70, etc. VG is promoting the heck out of their ETF portfolios to small and large investors alike, even a big push to FAs........
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Old 05-25-2012, 02:51 PM   #10
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What I was getting at was wondering if the MF versus ETF flows were 50/50, 30/70, etc. VG is promoting the heck out of their ETF portfolios to small and large investors alike, even a big push to FAs........
I would think you might have double secret professional resources that could tell you MF versus ETF flows?
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Old 05-26-2012, 06:45 AM   #11
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In a getover world,thanks Vanguard for doing the right thing.
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Old 05-27-2012, 09:29 AM   #12
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Hello Michael - please can you explain your post below? I am not following you. Thank you.
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They're dropping redemption and early redemption fees on lots of international funds. Is this a contrarian sign?

They're also dropping the minimums for three fixed income institutional class funds from $50M to only $5M. Seems like they'll let anybody in now - guess I'll have to look elsewhere for my fund options.
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Old 05-27-2012, 09:44 AM   #13
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Hello Michael - please can you explain your post below? I am not following you. Thank you.
Oby, a contrarian sign is when one should do the opposite of what everyone else appears to be doing. EM and natural resource equity funds have fallen more in price than any other so far this year. People are selling their investments. Now, Vanguard eliminated early redemption fees on those funds, and probably more people will sell sooner. So I ask, is this a contrarian sign for investors? Should we be thinking about buying EM and PM instead of joining the lemmings selling.
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AWF & AGDCX are better than VWEHX
Old 05-28-2012, 10:30 AM   #14
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AWF & AGDCX are better than VWEHX

AWF & AGDCX are better than VWEHX. Are there any other similar funds that anyone likes? I am curious to know.
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Old 05-28-2012, 11:00 AM   #15
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AWF & AGDCX are better than VWEHX.
Measured by what criteria? I am curious to know...
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Old 05-28-2012, 11:10 AM   #16
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AWF & AGDCX are better than VWEHX. Are there any other similar funds that anyone likes? I am curious to know.
AGDCX is a load fund. Here's the M* chart comparing it with VWEHX. Better is not obvious, but more expensive sure is. M* reports ERs are 1.65% vs 0.23%, favoring Vanguard. AWF is a closed end fund, no comparable to either and with a much different risk profile.


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Old 05-28-2012, 12:12 PM   #17
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Oby, a contrarian sign is when one should do the opposite of what everyone else appears to be doing. EM and natural resource equity funds have fallen more in price than any other so far this year. People are selling their investments. Now, Vanguard eliminated early redemption fees on those funds, and probably more people will sell sooner. So I ask, is this a contrarian sign for investors? Should we be thinking about buying EM and PM instead of joining the lemmings selling.
Timing is always a tricky subject. EM and PM had a big run up in the last decade or so. Is this a return to the mean or something else? Also EM is dynamic in its makeup -- different countries have different problems not all at the same time.

I have no idea where this will go. That's why I chose to use something like the broad based international etf VEU (VFWIX as a fund) which has a 25% or so EM component. I trade between VEU and the large value US etf VTV. The trading is done very seldom but based on the return differentials over several months. Have been out of international since Oct 2011. When the differential returns start to reverse my international/US segment will be back in international. This is an attempt at risk reduction (currency plus equity changes) more then an attempt to beat the market. It has worked reasonably well over my period of study -- 1970 to date.
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Old 05-28-2012, 01:42 PM   #18
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In a getover world,thanks Vanguard for doing the right thing.


Heh heh heh - and all praise to Mr B for convincing me way back when. Bogle On Mutual Funds. And pssst Wellesley way before that.
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Old 05-28-2012, 02:15 PM   #19
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Oby, a contrarian sign is when one should do the opposite of what everyone else appears to be doing. EM and natural resource equity funds have fallen more in price than any other so far this year. People are selling their investments. Now, Vanguard eliminated early redemption fees on those funds, and probably more people will sell sooner. So I ask, is this a contrarian sign for investors? Should we be thinking about buying EM and PM instead of joining the lemmings selling.
VT - Vanguard Total World Stock Index ETF. With my few good stocks, deck chairs on the Titanic, mad money.

What the heck even the Europeans and Japanese will get right evenually.

Planet Earth is a pretty good index. If you are going to index -THEN INDEX!

Right?



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Old 05-30-2012, 05:02 AM   #20
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Thank you for taking the time to explain. I have been learning a lot from this website, thanks to people like you.
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Oby, a contrarian sign is when one should do the opposite of what everyone else appears to be doing. EM and natural resource equity funds have fallen more in price than any other so far this year. People are selling their investments. Now, Vanguard eliminated early redemption fees on those funds, and probably more people will sell sooner. So I ask, is this a contrarian sign for investors? Should we be thinking about buying EM and PM instead of joining the lemmings selling.
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