Almost all ETFs are commission-free.6
All Vanguard ETFs and non-Vanguard ETFs, including leveraged and inverse ETFs, trade online commission-free. Trades placed over the phone may be subject to a $25 broker-assisted commission. All ETF sales are subject to a securities transaction fee. For full details, including exclusions and other fees that may apply, see the Vanguard Brokerage Services commission and fee schedules. Leveraged and inverse ETFs may be identified with “2x,” “ultra,” “daily,” or something similar in their name.
Leveraged and inverse ETFs are designed to be bought and sold within a short time (for example, 1 day or 1 month), making them extremely speculative in nature. These risky investments are meant to be used as short-term trading tools. They're not intended for buy-and-hold investing.
On January 22, 2019, Vanguard Brokerage stopped accepting purchases in leveraged and inverse ETFs, as well as leveraged and inverse mutual funds and ETNs (exchange-traded notes). If you already own these investments, you can continue to hold them or choose to sell them. You can also transfer them in kind from or to other institutions.
