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Vanguard Group recently raised fees on some of its mutual funds. The expense ratio for the Intermediate-Term Tax Exempt Fund(VWITX Quote) climbed to 0.2% from 0.15%. It rose to 0.46% from 0.37% on the U.S. Value Fund(VUVLX Quote).




The news shocked some shareholders because Vanguard has always been viewed as a low-cost mutual fund manager. Has Vanguard changed its philosophy? Hardly.


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