The Independent Vanguard Adviser
Tested. Invested. Unbiased.
Seasoned insights on Vanguard funds that most investors don’t know—and Vanguard won’t tell you.
Count me in!The only independent newsletter written for Vanguard investors, by Vanguard investors.
The Independent Vanguard Adviser is the go-to resource for the serious Vanguard investor who doesn't want to make moves every minute, but wants every move to count.
Join over 15,000 Vanguard investors who aren’t just better informed; they’re invested.
Learn More
WEEKLY BRIEF | Another War, Another Market Test
War tests investors | PRIMECAP’s Joel Fried is retiring | Supplemental distributions coming | Vanguard settles Texas lawsuit
We Were Promised a Recession
JULY 2023 | With no recession in sight, stocks delivered double-digit returns in the first half of 2023. Be wary of outsized one-year returns and the Super Seven. Plus, an article roundup and the IVA Factor Tracker.
To Coup, Or Not to Coup
One-year returns on the rise | Where did the recession go? | A non-coup in Russia | Unknown requirements to lend your stocks
What Kind of Investor Are You?
How much should I allocate to stocks versus bonds versus cash? It’s a fundamental question most investors spend too little time on. Here’s how to find the answer that is right for you.
Can I Borrow Your Shares?
Powell signals higher interest rates ahead, but the big move is behind us | Vanguard rolls out securities lending to individual investors
Paying Out Profits in a Bear Market
Vanguard has a profit-sharing plan. (Yes, you read that right.) It’s called the Partnership Plan, and it allows Vanguard’s C-suiters to pull down multimillion-dollar paychecks with little transparency.
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.