FYI: Vanguard launched its first index fund on the last day of 1975. It wasn’t exactly a hot product straight out of the gate considering they hoped to raise $150 million but instead brought in just $11 million.
Vanguard’s share of industry assets actually fell throughout much of the 1980s, going from 5.8% in 1981 to 4.1% by 1987. By 1991 market share had grown to 6.2% of the industry but much of that growth actually came from the introduction of money market funds and the growth in the mutual fund complex itself.
By 1992, Vanguard managed $92 billion. That grew to $555 billion by 2002, $1.1 trillion by 2006 and more than $5 trillion by the end of 2018. Vanguard’s market share of industry assets doubled between 2006 and 2018 from roughly 12% to 24%:
Regards,
Ted
https://awealthofcommonsense.com/2019/10/the-great-fee-war-of-the-2010s/
