Compare › Fidelity vs Vanguard
Fidelity vs Vanguard: fees and fine print
Full transfer-out: Fidelity $0 vs Vanguard $100 (may charge), per each broker's official pages (checked Oct 30, 2026).
Last updated · 6 official sources (listed below)
The costs that don't show up in "$0 commissions": leaving, reverse splits, tender offers, and what idle cash earns. Every cell links to the broker's own page.
Where they differ
- Full ACATS transfer-out fee: Fidelity $0 vs Vanguard $100 (may charge)
- Partial transfer-out fee: Fidelity $0 vs Vanguard Not published
- Reverse split / mandatory reorg fee: Fidelity $0 vs Vanguard Not published
- Voluntary reorg / odd-lot tender fee: Fidelity $0 vs Vanguard Not published
- Fractional share trading: Fidelity Yes ($1 min) vs Vanguard Yes (Vanguard ETFs & mutual funds, $1 min)
- Rate on uninvested cash: Fidelity 3.52% vs Vanguard Not published
| Fact | Fidelity | Vanguard |
|---|---|---|
| Full ACATS transfer-out fee | $0 One 'Transfer of assets' line; no full/partial split. source · Oct 30, 2026 | $100 (may charge) Waived for clients with ≥$5M qualifying assets, Wealth Management, or advisory-enrolled accounts. Vanguard's account-transfer page says it doesn't charge for outgoing transfers; the fee schedule (effective July 10, 2026) is used here. source · Oct 30, 2026 |
| Partial transfer-out fee | $0 Same single line as full transfers. source · Oct 30, 2026 | Not published |
| Reverse split / mandatory reorg fee | $0 Foreign assets held in USD: 1% of principal. source · Oct 30, 2026 | Not published |
| Fractional shares after a reverse split | Not published | Not published |
| Voluntary reorg / odd-lot tender fee | $0 source · Oct 30, 2026 | Not published |
| DRIP (auto dividend reinvestment) | Yes source · Oct 30, 2026 | Yes Read by hand (Vanguard blocks scripts). Program fractions are rounded to 3 decimals; some fractional entitlements may be paid in cash. source · Oct 30, 2026 |
| Fractional share trading | Yes ($1 min) source · Oct 30, 2026 | Yes (Vanguard ETFs & mutual funds, $1 min) Dollar-based (fractional) buys cover Vanguard ETFs and mutual funds only, not other ETFs or stocks. source · Oct 30, 2026 |
| Rate on uninvested cash | 3.52% 7-day yield of the Government Money Market Fund core position (SPAXX). Not an APY; varies daily. source · Oct 30, 2026 | Not published |
Full pages: Fidelity fees · Vanguard fees · Fidelity cash rate · Vanguard cash rate
Questions
Is it cheaper to leave Fidelity or Vanguard?
Full transfer-out: Fidelity $0, Vanguard $100 (may charge) (official fee schedules).
Sources
- https://investor.vanguard.com/client-benefits/dividend-reinvestment
- https://investor.vanguard.com/client-benefits/investment-fees
- https://investor.vanguard.com/investor-resources-education/article/what-is-dollar-based-investing
- https://www.fidelity.com/page/manage-cash-rising-costs
- https://www.fidelity.com/trading/commissions-margin-rates
- https://www.fidelity.com/trading/fractional-shares
Each source was read on or before Oct 30, 2026. Fees and rates change; confirm on the broker's site before acting.