Vanguard stock funds
footnote*For the 10-year period ended December 31, 2020, 95 of 122 Vanguard stock funds outperformed their peer group averages. Results will vary for other time periods. Only funds with a minimum quarter-, one-, three-, five-, or ten-year history, respectively, were included in the comparison. (Source: Lipper, a Thomson Reuters Company) Note that the competitive performance data shown represent past performance, which is not a guarantee of future results, and that all investments are subject to risks. For the most recent performance, visit our website at www.vanguard.com/performance
As of December 31, 2020.
You must buy and sell Vanguard ETF Shares through Vanguard Brokerage Services (we offer them commission-free) or through another broker (which may charge commissions). See the Vanguard Brokerage Services commission and fee schedules for full details. Vanguard ETF Shares are not redeemable directly with the issuing fund other than in very large aggregations worth millions of dollars. ETFs are subject to market volatility. When buying or selling an ETF, you will pay or receive the current market price, which may be more or less than net asset value.
All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss.
Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Investments in stocks issued by non-U.S. companies are subject to risks including country/regional risk, which is the chance that political upheaval, financial troubles, or natural disasters will adversely affect the value of securities issued by companies in foreign countries or regions; and currency risk, which is the chance that the value of a foreign investment, measured in U.S. dollars, will decrease because of unfavorable changes in currency exchange rates.
ESG funds are subject to ESG investment risk, which is the chance that the stocks screened by the index sponsor for ESG criteria generally will underperform the stock market as a whole or that the particular stocks selected will, in the aggregate, trail returns of other funds screened for ESG criteria.
For more information about Vanguard mutual funds and ETFs, visit vanguard.com/fundprospectus to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.
We're expanding our bond tool kit
The world of investing can seem vast and overwhelming if you haven’t been a part of it before.
But if you take things one step at a time, you can make a plan that’ll get you started on the right path toward your financial goals.
First, it’s important to decide what those goals are. Maybe you want to save for retirement. Or college. Or scuba diving in Fiji. Or maybe you just want to save more in general.
Once you have those goalposts in mind, that’s what will determine the kind of account you should open. Think IRAs for retirement, 529s for college savings, and individual or joint accounts for general savings.
Once you’ve settled on an account type for your journey, it’s time to pack your bags—in other words, you’ll need to choose what kinds of investments to hold in your account to give your money the best chance to grow over time. There are three kinds of assets you can invest in: stocks, bonds, and cash. You can—and should—mix and match them. That’s called diversification, and it’s important for managing risk.
First, let’s talk about stocks. When you buy a stock, you own a piece of a company and its profits. Stocks have high growth potential, but with that comes high risk, so you’ll want to balance stock purchases out with less risky ones, like …
Bonds. Bonds are loans where you’re the creditor. You lend money to the bond issuer in exchange for repayment with interest by a certain date. We consider them moderate-risk investments.
And finally, there’s cash. Cash in your portfolio can preserve the value of your money when you’re saving for short-term goals. It carries the least risk when it comes to losing money, but there’s also not much potential for growth.
We think the best portfolios strike a balance between risk and reward. Now that you know about the different kinds of investments, you can get moving on those goals you set. And you can start asking yourself questions like: When do I want to retire? How soon do I want to be face-to-face with those sea turtles in Fiji? That will help you decide on a timeline for investing—and what your approach will be.
Still have questions about getting started with investing? We’re here to help. Visit us on the web at vanguard.com/gettingstarted.
How do I buy an ETF or stock?
Access trade form
Within the My Accounts tab, navigate to Buy & Sell. On the Buy & Sell landing page, choosing the option to Trade ETFs or stocks sends you to the trade order form. All buy orders will execute using your selected account's funds available to trade.
If you have more than one account, you’ll need to select an account. The account selector opens to show a list of your accounts. Selecting an account will display your Funds Available to Trade in the Balances section in the upper right of the page. Selecting Show Details within the Balances section reveals additional account balance information.
At any time you can view your current Holdings and Open Orders by selecting the respective tabs within the gray navigation bar. By selecting either tab you won’t lose any in-progress information on your current order. To return to your current order simply select the Trade ETFs or Stocks tab within the gray navigation bar.
Enter the ticker symbol of the stock or ETF you’re interested in. If you aren’t sure of the ticker symbol, you can select Search by Keyword to find what you’re looking for. After selecting a stock or ETF, the page will display a real-time quote with the latest price information along with any share amount you currently hold.
Enter share amount
Next, enter the Number of Shares you’d like to purchase. If you’d like to determine how many shares you can buy based on the amount you have to spend, select Calculate Dollars to Shares located under the number of shares field.
Additional order details
Select an Order Type for your trade. While market orders don’t require additional selections, you’ll need to set both pricing and trade duration for non-market orders. You can get guidance about the different order types available along with other parts of the form by selecting the ? icon next to each respective field.
Review trade details
Review the trade details in lower right portion of the screen. All ETF and stock trades are commission-free.* If you’re satisfied with the trade you’ve built, select Preview Order (2) to view a summary of your order. Note: Selecting Preview Order will initiate a review to make sure your order is accurate and there are no issues that you need to resolve. Selecting preview does not mean you’re submitting the order. You’ll still have a chance to review the order and make any changes.
Review the order summary on the Preview and Submit page. You’ll notice the real-time quote has refreshed with the latest price information. Be sure to read the language above the Submit Order button as this information offers some key details about your order.
To make changes to your order, select Edit. When you’re ready to proceed with your purchase, select Submit Order.
Confirmation & next steps
You’ll be taken to a Confirmation screen that will show a detailed summary of your order. You’ll notice an order confirmation number at the top of the summary, updated balances information, including the value of any open buy limit orders. Also, the What happens next (3) section has important information about the execution of your order.
Now that your order is complete, you’ll see your recently completed trade in the list of open orders. To check the status of any pending orders, select the Order status link on the right side of the screen at the top of the Open orders section.
There’s a link to initiate a new order or see other investment products under the “Make another trade” headline in the bottom left of the screen. Finally, the trading experience offers the same features regardless of the device you’re using to place the order.
This example is for illustrative purposes only and is not a recommendation to buy or sell a particular security.
*Initial investment and trade minimums, management fees and expenses, and other fees may apply. See the Vanguard Brokerage Services commission and fee schedules for full details.
Brokerage assets are held by Vanguard Brokerage Services, a division of Vanguard Marketing Corporation, member FINRA and SIPC.
Complement your portfolio with stocks & ETFs
Certain risks may be greater than those present during standard market hours. These include:
1. Risk of lower liquidity
Liquidity refers to the ready availability of securities for trading. Generally, the more orders available in the market, the more liquid that market is. Liquidity is important because with greater liquidity, it's easier for investors to buy or sell securities, and as a result, investors are more likely to pay or receive a competitive price for securities purchased or sold. Because of the limited trading activity during extended-hours sessions, liquidity may be significantly less than during regular market hours. Lower liquidity may prevent your order from being executed in whole or in part or keep you from receiving as favorable a price as you might receive during regular trading hours. In addition, lower liquidity means fewer shares of a security are being traded, which may result in larger spreads between bid and ask prices and volatile swings in stock prices.
2. Risk of higher volatility
This term generally refers to the speed and size of changes in the price of a security. Generally, the higher the volatility of a security, the greater its price swings. There may be greater volatility during the extended-hours sessions than during regular trading hours, which may prevent your order from being executed in whole or in part or keep you from receiving as favorable a price as you might receive during regular trading hours.
3. Risk of changing prices
For extended-hours trading sessions, quotations will reflect the bid and ask prices currently available through the utilized quotation services. At times, there may be no orders entered for a particular security, so there will be no quote available. The quotation service may not reflect all available bids and offers posted by other participating ECNs or exchanges and may reflect bids and offers that may not be accessible through Vanguard Brokerage's trading partners. Buy and sell quotations may differ from closing prices at the end of the regular trading session as well as opening prices the next morning. Systems are not all linked; therefore, you may pay more or less for your purchases or receive more or less for your sales through a participating ECN or exchange than you would for a similar transaction on a different ECN or exchange.
4. Risk of unlinked markets
Depending on the extended-hours trading system or the time of day, the prices displayed on a particular extended-hours trading system may not reflect the prices in other concurrently operating extended-hours trading systems dealing in the same securities. Accordingly, you may receive a price in one extended-hours trading system that is inferior to the price you would receive in another extended-hours trading system.
5. Risk of news announcements
Normally, issuers make news announcements that may affect the prices of their securities after regular market hours. Similarly, important financial information is frequently announced outside of regular market hours. In extended-hours trading, these announcements may occur during trading, and if combined with lower liquidity and higher volatility, may cause an exaggerated and unsustainable effect on the price of a security.
6. Risk of wider spreads
This term generally refers to the difference between the buy and sell prices of a security. Lower liquidity and higher volatility during extended-hours sessions may result in wider-than-normal spreads.
7. Risk of order entry timing
All orders entered into and posted during the extended-hours trading sessions must be limit orders and are generally handled in the order in which they were received at each price level. You must indicate the price at which you would like your order to be executed. You will not buy for more or sell for less than the price you enter, although your order may be executed at a better price. Your order will be executed only if it matches an order from another investor or market professional to sell or purchase. Transactions transmitted by other investors before your order may match an order you were attempting to match from the ECN or exchange order book. This may prevent your order from being executed or keep you from receiving as favorable a price as you might receive during regular trading hours.
8. Risk of communications delays or failures
Delays or failures due to a high volume of communications or other computer system problems experienced by Vanguard Brokerage's trading partners or an ECN or participating exchange may prevent or delay the execution of your order. Vanguard Brokerage Services reserves the right to temporarily or permanently close an extended-hours trading session without prior notification in the event of system failure or unforeseen emergencies. Vanguard Brokerage will not be held liable for missed executions caused by system failure.
9. Risk of trading halts
News stories may have a significant impact on stock prices during extended-hours trading sessions. The Securities and Exchange Commission (SEC), FINRA, or one of the stock exchanges may impose a trading halt when significant news has affected a company's stock price. Any SEC-, FINRA-, or exchange-imposed trading halt will be enforced. Pending orders for a security will be held and reinitiated upon resumption of trading during that session.
10. Risk of duplicate orders
Duplicate orders may occur if you place an order in an extended-hours session for a security for which you already have an outstanding order in the regular trading session, even if that order is a day order. Orders executed during regular trading hours may not be confirmed until after the extended-hours trading session has begun.
11. Risk of partial executions
Orders placed during extended trading hours are entered through a participating ECN or exchange, which may be linked to other ECNs or exchanges. Because you cannot add qualifiers such as AON or FOK, your order may be filled in part, leaving you with stock left over to buy or sell. There is a risk that your remaining order may not be filled during the extended-hours session. An odd lot may not be represented in the displayed quote. This would occur in instances in which an order has an execution leaving an odd lot. There are no execution guarantees for an odd lot or the odd lot portion of a mixed lot order.
12. Change requests will not be accepted
You may not change your extended-hours order at any time before it is executed. Instead, the order must be canceled outright and replaced with a new one. Note that a cancellation or replacement may cause the order to lose its time priority.
13. Risk of lack of calculation or dissemination of underlying index value or intraday indicative value (IIV)
For certain derivative securities products, an updated underlying index value or IIV may not be calculated or publicly disseminated during extended trading hours. Since the underlying index value and IIV are not calculated or widely disseminated during the opening and late trading sessions, an investor who is unable to calculate implied values for certain derivative securities products in those sessions may be at a disadvantage to market professionals.
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