Last month, I mentioned that Morningstar had bought the Center for Research in Security Prices (CRSP) from the University of Chicago. CRSP started out as a non-profit, but was later converted to an LLC and sold for $375 million. Vanguard used these low-cost indexes to keep their expense ratios extremely low, and I expressed concern over this as Morningstar is a for-profit, publicly-traded corporation. This contrasts with Vanguard’s famous “at-cost” structure.
Vanguard just announced that starting in July 2026, Vanguard will add the “Morningstar” brand to 13 different US stock index funds (across 51 different share classes). Just a few examples:
- Vanguard Morningstar To...
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