Vanguard Drops Average Fee to Just 0.06% With Latest Cuts (1)

Vanguard Group has unleashed another round of fee cuts across its lineup of mutual funds and exchange-traded funds, further tightening the screws on an industry already known for its low costs.

The Jack Bogle-founded asset manager, which oversees about $12 trillion, is lowering costs for 84 share classes of mutual funds and ETFs across 53 funds in total, Vanguard said in a press release Monday. The reductions bring Vanguard’s average asset-weighted expense ratio to 0.06%, shaving one basis point from last year’s record fee cut.

Monday’s fee cuts are par for the course for Vanguard, which has reshaped the ...