The Independent Vanguard Adviser
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IVA TRADE ALERT | Too Much AI in the Wrong Place
I’m trimming International Growth to restore diversification—and reduce unintended U.S. tech risk.
Diversification’s Comeback—and Vanguard’s Active Turn
Diversification’s comeback | Vanguard plans three active ETFs in partnership with Wellington
The Risk That Hasn’t Paid: Currencies and Foreign Stock Funds
Over 35 years, taking on currency risk in foreign stock funds hasn’t paid. So why are most still unhedged?
New ETFs, Old Partner: Vanguard and Wellington Launch Active Lineup
Vanguard taps Wellington for its active ETF debut—name and all.
Inflation, Hiring and the Fed: Navigating a Delicate Balance
Quiz time! | The BLS chief is fired after a weak jobs report | Inflation holds steady
Hedge the Noise: Currency Risk and Bond Funds
If you want your foreign bond fund to act like a bond fund, hedge the currency risk.
Investing Beyond the AI Hype
2026 OUTLOOK | The market’s baseline is growth—but in an AI-driven, fully-priced world, diversification matters more than ever.
The AI Footprint in Your Vanguard Portfolio
MAILBAG | A comprehensive look at Vanguard funds tied to the AI narrative, as well as those that aren’t—and how the IVA Portfolios stack up.
PRIMECAP Finds Its Edge … Again
A strong 2025 reminds investors why patience with PRIMECAP still pays.
Vanguard and The Vanguard Group are service marks of The Vanguard Group, Inc. We are not affiliated in any way with The Vanguard Group and receive no compensation from The Vanguard Group, Inc.
Hi, I’m Jeff DeMaso.
Welcome to the Independent Vanguard Adviser.
I’ve been a Vanguard investor for over a decade, co-editing the leading newsletter on Vanguard funds and ETFs. I’m a big Vanguard fan, but they are not perfect (nobody is). I’ll tell you the good and the bad when it comes to Vanguard.
Over two decades while working at a multi-billion-dollar investment firm, I held titles of intern to CIO (and everything in between). I’ve seen investors make avoidable mistakes time and time again. I aim to share the investment insights and advice I want my family and friends to have so that you can make meaningful investments for yours.
When investing, I believe in simplicity, diversification and spending time in the market. A simple promise: My family and I will invest in the same funds I recommend to you!
When I’m not poring over Vanguard’s most recent prospectus, you can find me chasing my toddler around the playground or trying to avoid an injury while reliving the glory days on the soccer pitch.