This paper compares Vanguard and Fidelity on 21 comparable funds in five aspects: performance, tax-efficiency, cost, diversification, benchmark and tracking precision. The conclusions are as follows: first, for pre-tax return, the difference between Vanguard and Fidelity is small, but Vanguard...

This chapter evaluates the returns of the domestic equity funds of three major American companies: Vanguard, Fidelity, and Dimensional Fund Advisors relative to benchmarks using the Fama-French factors from January 2001 through December 2018. We also present Sharpe's (1992) style analysis...