There as an interesting piece in last weeks Economist about Vanguard.
Index we trust
The Economist - World News, Politics, Economics, Business & Finance
Mostly a general synopsis of its history and structure but some of the statistics about its current inflows and clout were very interesting:
"One dollar in every five
invested in mutual or exchange-traded funds (ETFs) in America now goes to Vanguard
, as does one in every two invested in passive, index-tracking funds
, according to Morningstar, a data provider." (emphasis mine)
It seems Vanguard is now one of the 400 pound gorillas. Thankfully they are still on the side of the little guy.