The Independent Vanguard Adviser
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WEEKLY BRIEF | Another War, Another Market Test
War tests investors | PRIMECAP’s Joel Fried is retiring | Supplemental distributions coming | Vanguard settles Texas lawsuit
Digital-First Puts Seniors Second
Trading is hard | Mailbag: Are bonds dead? | Vanguard doesn’t want you to call | Check Vanguard’s work if you’re converting to a Roth IRA
Finding Vanguard’s Active ETFs
Answering two questions: Why has Vanguard only dipped a toe in the active ETF waters? Are Vanguard’s actively managed mutual funds as tax-friendly as their ETF siblings?
Expanding Earnings and Fees
Earnings growth can lead to higher stock prices | 5% interest rates in context | More fees coming to Vanguard Brokerage Services
History Rhymes
Inflation isn’t going away, but that doesn’t mean we’ll see double-digit inflation anytime soon. Plus, putting pullbacks into perspective, an article roundup, IVA Portfolio Notes and the IVA Factor Tracker.
Vanguard’s Exception to the Rule
Vanguard’s index mutual funds are as tax-friendly as the firm’s ETFs.
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.