The Independent Vanguard Adviser
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WEEKLY BRIEF | When Safe Havens Shake—and Indexes Concentrate
Gold hits a wall | Index funds aren’t as diversified as you think | Lower fees and a pricing quirk at Vanguard
Tariffs, Bonds and Discipline
Short-term tariff costs low—so far | Greg Davis goes 40/60 | Cash Deposit’s yield drops (again) | Money market portfolio manager Lanius retires
Vanguard’s Sector Showdown: Active Loses Favor
Why I prefer Vanguard’s sector index funds over the actively managed, Wellington-run sector funds.
Same Headlines, Different Market
Resilient earnings | The tables turned on tech stocks | Vanguard still not betting on bitcoin | Average cost is not a default option
Tech Pops, PRIMECAP Drops, Vanguard Gets Sued
Tech stocks held their ground | Morningstar downgrades PRIMECAP | Just Invest’s founders sue Vanguard | Cost basis update
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.