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Vanguard has been offering low-cost index funds longer than any of its competitors. Their management approach and unique ownership structure is the main reason it is able to keep costs so low and offer so many funds to investors.

Vanguard is a not-for-profit company; it is owned by the Vanguard funds, which are owned by its clients. Therefore, Vanguard does not have to worry about making a profit for its shareholders or private owners and can pass on any profits and cost savings to its clients. Vanguard’s interests are aligned with the interests of investors, and this is rare for financial institutions.