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MORE COMPETITION "Rivals for example Black - Rock, Schwab, and Fidelity are competing with Vanguard on cost in a very way that wasn't the truth five years back. The capacity in our security sector has strengthened to fulfill traditional and emerging threats on the stability of our nation. They charge investors annual fees to cover their costs and generate a hefty profit. Correction:�An earlier version on this article misspelled Stephen Sorensen's name and incorrectly�stated that Vanguard may be the nation's second-largest mutual fund company after Fidelity. 18%) towards the assets in each leads me to think Vanguard shareholders pay about $138 million per year. I was depressed, spent added time on games than studying and fell right into a pattern of risky behavior in regards to drinking and partying. Morningstar also consistently praises�many of Vanguard's funds, and gave its target-date retirement funds�a gold rating.