Right. Mutual fund exchanges of Vanguard mutual funds in an account at Vanguard (or exchanges of Fidelity mutual funds in an account at Fidelity, etc.) occur at the next market close after the request is submitted, and will be reflected in the account by the next market open (usually sooner).That’s incorrect. If you do an exchange of Vanguard mutual funds and input the transaction before market close, the transaction will happen over night with that day’s closing price. It can’t be any faster because a mutual fund’s price isn’t determined until after market close.Yes, I noticed, even for VG funds (by exchange method) or buy/sell method, the trade date is only after a couple of days, unlike Fidelity where the trade date is that day itself.I tried to use my VUSXX to buy a treasury. It didn’t work. I had almost nothing in my settlement account. I had to sell VUSXX to to buy the regular money market. Then buy my treasury. So it all took a couple days.
I manage my parents’ account at Fidelity. I can use the equivalent of VUSXX to buy treasuries or whatever. I don’t need to have anything in the regular money market.
Definitely it’s a far faster and easier experience at Fidelity.
I don’t do individual bonds or stocks or ETF’s, so can’t comment on the timing or process for those.
If you hold say a Vanguard mutual fund at Fidelity or a Fidelity mutual fund at Vanguard, you cannot to the direct exchange that I've ever seen. You will have to liquidate the source fund to a settlement fund, then buy the target fund from the settlement fund, each with T+1 settlement (and possible/likely transaction fee for the purchases).
Statistics: Posted by Northern Flicker — Mon Jul 29, 2024 12:50 pm — Replies 21 — Views 2748