What Happens When Vanguard Owns Everything?
The company is bigger than an 800-pound gorilla--and still growing.
Vanguard is the most dominant fund company in history. It already manages the largest stock mutual fund in the world; it soon will run the largest bond mutual fund; and despite being a latecomer to the business of exchange-traded funds, it places a close second to iShares for new U.S. ETF sales over the past 12 months.
No fund company has ever enjoyed anything like Vanguard's 2014 net inflows of $219 billion into U.S. mutual funds and ETFs. Until American Funds managed the feat in 2003, no firm had ever even cracked the $50 billion mark.