TORONTO, May 5, 2017 /CNW/ - Vanguard Investments Canada
Inc. today announced a revision to the annual Management Report of
Fund Performance (MRFP) for certain Vanguard ETFs, reflecting a
reduction to the previously reported management expense ratio (MER)
for each fund.
A list of each Vanguard ETF and the revised MER for the year
ended December 31, 2016, is
below.
Vanguard
ETF®
|
TSX Ticker
Symbol
|
Previously
reported MER
|
Revised
MER
|
Vanguard FTSE
Emerging Markets All Cap Index ETF
|
VEE
|
0.26
|
0.24
|
Vanguard U.S. Total
Market Index ETF (CAD-hedged)
|
VUS
|
0.17
|
0.16
|
Vanguard FTSE
Developed All Cap Ex U.S. Index ETF (CAD-hedged)
|
VEF
|
0.22
|
0.21
|
Vanguard FTSE
Developed All Cap Ex U.S. Index ETF
|
VDU
|
0.22
|
0.21
|
Vanguard U.S.
Dividend Appreciation Index ETF
|
VGG
|
0.31
|
0.30
|
Vanguard U.S.
Dividend Appreciation Index ETF (CAD-hedged)
|
VGH
|
0.31
|
0.30
|
Vanguard U.S.
Aggregate Bond Index ETF (CAD-hedged)
|
VBU
|
0.23
|
0.22
|
Vanguard Global
ex-U.S. Aggregate Bond Index ETF (CAD-hedged)
|
VBG
|
0.39
|
0.37
|
Vanguard FTSE Global
All Cap ex Canada Index ETF
|
VXC
|
0.28
|
0.27
|
Vanguard FTSE
Developed Europe All Cap Index ETF
|
VE
|
0.23
|
0.22
|
Vanguard S&P 500
Index ETF (CAD-hedged)
|
VSP
|
0.09
|
0.08
|
Vanguard S&P 500
Index ETF
|
VFV
|
0.09
|
0.08
|
Vanguard FTSE
Developed Asia Pacific All Cap Index ETF
|
VA
|
0.23
|
0.22
|
The adjustments resulted from a miscalculation of the Harmonized
Sales Tax (HST) charged to the funds in connection with the
management fee of the underlying fund in which the funds primarily
invest. The adjustment only applies to the calculation of the MER
and not the actual management fee and applicable HST charged to the
funds during the year, which was correct.
To learn more about the TSX-listed Vanguard ETFs, please visit
www.vanguardcanada.ca
About Vanguard
Vanguard Investments Canada Inc. is a wholly owned indirect
subsidiary of The Vanguard Group, Inc. and manages more than
CAD 11 billion in assets (as of
May 1, 2017). The Vanguard Group,
Inc. is one of the world's largest investment management companies
and a leading provider of company-sponsored retirement plan
services. Vanguard manages USD 4.2
trillion in global assets (as of May
1, 2017) with over USD 700B in
ETF assets. Vanguard has offices in the
United States, Canada,
Europe, Australia and Asia. The firm offers more than 360 funds,
including ETFs, to its more than 20 million investors
worldwide.
Vanguard operates under a unique operating structure. Unlike
firms that are publicly held or owned by a small group of
individuals, The Vanguard Group, Inc. is owned by Vanguard's
U.S.-domiciled funds and ETFs. Those funds, in turn, are owned by
Vanguard clients. This unique mutual structure aligns Vanguard
interests with those of its investors and drives the culture,
philosophy, and policies throughout the Vanguard organization
worldwide. As a result, Canadian investors benefit from Vanguard's
stability and experience, low-cost investing, and client focus. For
more information, please visit vanguardcanada.ca.
Important Information:
Commissions, management fees, and expenses all may be associated
with investments in a Vanguard ETF®. Investment
objectives, risks, fees, expenses, and other important information
are contained in the prospectus; please read it before investing.
ETFs are not guaranteed, their values change frequently, and past
performance may not be repeated. Vanguard ETFs® are
managed by Vanguard Investments Canada Inc., an indirect
wholly-owned subsidiary of The Vanguard Group, Inc., and are
available across Canada through
registered dealers.
This material is for informational purposes only. This material
is not intended to be relied upon as research, investment, or tax
advice and is not an implied or express recommendation, offer or
solicitation to buy or sell any security or to adopt any particular
investment or portfolio strategy. Please consult your financial
and/or tax advisor for financial and/or tax information applicable
to your specific situation.
The management expense ratio (MER) is the MER as of December 31, 2016, including waivers and
absorptions and is expressed as an annualized percentage of the
daily average net asset value. The MER without any absorptions or
waivers would have been 0.16% for VUS, 0.08% for VFV, 0.08% for
VSP, 0.30% for VGG, 0.30% for VGH, 0.27% for VXC, 0.21% for VDU,
0.21% for VEF, 0.23% for VE, 0.24% for VA, 0.24% for VEE, 0.22% for
VBU, and 0.38% for VBG. Vanguard Investments Canada Inc. expects to
continue absorbing or waiving certain fees indefinitely but may, in
its discretion, discontinue this practice at any time.
This material does not constitute an offer or solicitation and
may not be treated as an offer or solicitation in any jurisdiction
where such an offer or solicitation is against the law, or to
anyone to whom it is unlawful to make such an offer or
solicitation, or if the person making the offer or solicitation is
not qualified to do so.
All investments, including those that seek to track indexes, are
subject to risk, including the possible loss of principal.
Diversification does not ensure a profit or protect against a loss
in a declining market. While ETFs are designed to be as diversified
as the original indexes they seek to track and can provide greater
diversification than an individual investor may achieve
independently, any given ETF may not be a diversified
investment.
London Stock Exchange Group companies include FTSE International
Limited ("FTSE"), Frank Russell Company ("Russell"), MTS Next
Limited ("MTS"), and FTSE TMX Global Debt Capital Markets Inc.
("FTSE TMX"). All rights reserved. "FTSE®", "Russell®", "MTS®",
"FTSE TMX®" and "FTSE Russell" and other service marks and
trademarks related to the FTSE or Russell indexes are trademarks of
the London Stock Exchange Group companies and are used by FTSE,
MTS, FTSE TMX and Russell under licence. All information is
provided for information purposes only. No responsibility or
liability can be accepted by the London Stock Exchange Group
companies nor its licensors for any errors or for any loss from use
of this publication. Neither the London Stock Exchange Group
companies nor any of their licensors make any claim, prediction,
warranty or representation whatsoever, expressly or impliedly,
either as to the results to be obtained from the use of the FTSE
Indices or the fitness or suitability of the Indices for any
particular purpose to which they might be put.
The S&P 500 Index is a product of S&P Dow Jones Indices
LLC ("SPDJI"), and has been licensed for use by Vanguard. Standard
& Poor's® and S&P® are registered trademarks of Standard
& Poor's Financial Services LLC ("S&P"); Dow Jones® is a
registered trademark of Dow Jones Trademark Holdings LLC ("Dow
Jones"); S&P® and S&P 500® are trademarks of S&P; and
these trademarks have been licensed for use by SPDJI and
sublicensed for certain purposes by Vanguard. Vanguard product(s)
are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones,
S&P, their respective affiliates and none of such parties make
any representation regarding the advisability of investing in such
product(s) nor do they have any liability for any errors,
omissions, or interruptions of the index.
SOURCE Vanguard Investments Canada Inc.