Hi Grinch,
Nice optimization! Selling ELFW and EL4V to reduce fees and going with Vanguard’s index funds is a classic move for long-term efficiency.
Quick question though — could you share more details on the cost structure of your new funds? Specifically:
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What are the annual fees and transaction costs?
1. Vanguard Global Stock Index Fund – EUR Acc (VANGEIS)
I assume you’re referring to the Vanguard Global Stock Index Fund EUR Accumulating, not traded on an exchange.
• Ongoing charges (TER): approx. 0.18%
• Buy/Sell fees:
• Direct via platforms like Vanguard or institutional accounts: often 0% entry and exit fees
• Via banks or retail brokers: may apply subscription/redemption fees, usually in the range of 0.25%–1%
• Settlement time: 1–2 days, and not as liquid as ETFs
2. Vanguard Euro Government Bond Index Fund – 20+ Years – EUR Acc (VGYETII)
• Ongoing charges (TER): approx. 0.10%
• Buy/Sell fees:
• Same model — may be free with some platforms, but can incur distribution costs or custody fees depending on your broker
• Spreads may be wider and execution slower than exchange-traded funds
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Compared to your previous ETFs:
Fund / ETF TER (%) Exchange-Traded Liquidity Auto Tax Reporting
iShares MSCI World (ELFW) ~0.20
Yes
High
Yes
DB EUROGOV Germany 10+ (EL4V) ~0.16
Yes
High
Yes
Vanguard Global Index Fund (VANGEIS) ~0.18
No
Slower
Depends on broker
Vanguard Euro Treasury 20+ (VGYETII) ~0.10
No
Slower
May need manual
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Tax considerations (Germany-specific):
Since these are non-ETF index funds, be aware of the following:
• If they qualify as UCITS and meet requirements, you may still benefit from the Teilfreistellung (30% tax-free portion on equity funds, 15% for mixed funds, etc.)
• However, if your broker doesn’t handle tax reporting automatically, you may have to declare gains manually and track the Vorabpauschale (preemptive tax on unrealized gains, introduced in 2018)
• Also, settlement is often T+2 or T+3, unlike real-time ETF trading
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Questions for you:
• Which platform/broker are you using to access these Vanguard funds?
• Did they charge you any entry or exit fees on the switch?
• Does your platform automatically handle German investment tax law (esp. Vorabpauschale and Teilfreistellung)?
• Was liquidity or pricing transparency a concern in the switch?
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Would be great to hear your experience so far, especially regarding the execution experience and costs of using these non-listed funds vs ETFs.
Cheers!
but it is what it is.. we're just playing the cards we're dealt...
?
What are the annual fees and transaction costs?
Compared to your previous ETFs:
Yes 
No 
Slower 
Depends on broker
Tax considerations (Germany-specific):