How quickly will Vanguard Brokerage Services execute my fund orders?
If your order is for a fund from another fund company and is received by the fund’s cutoff time, we’ll execute it that day at the fund’s next determined net asset value or public offering price. All orders received after the fund’s cutoff time will be executed the next business day at the fund’s then-current net asset value or public offering price. Although rare, exceptions may apply, so you should be familiar with a fund’s policies as described in its prospectus. Cutoff times vary by fund. To find the cutoff time for a fund, check the fund’s profile in our Research Funds & Stocks area. If you redeem shares from one fund and invest the proceeds in another fund on the same day, both orders will be executed that day if the redemption is for an exact dollar amount. If the redemption is for a quantity of shares, however, your purchase will be executed on the following business day; we must first calculate your proceeds to determine the amount available for your purchase. To ensure that yo
