Launched in 2023, Vanguard’s Investor Choice pilot has gained significant momentum, as highlighted in our 2025 Investor Choice report. Through Investor Choice, Vanguard gives equity index investors a way to have their voices heard on corporate governance matters at the companies held in the funds they own.
The report shows a big increase in investor engagement: Participation more than doubled, and the assets involved tripled compared with the 2024 proxy season.
Highlights from the report include:
- We are on track to surpass a 10% participation rate among clients in participating funds,* with eligible assets under management reaching $1 trillion.
- In 2025, retirement plan sponsors representing more than 100,000 participants chose to join the program.
- No more than 35% of investors in Investor Choice funds chose any particular voting policy option, reflecting a diverse range of perspectives on proxy voting.
Learn more about Investor Choice’s progress in 2025 and our plans to expand it in 2026.
Notes
*These clients are invested in participating funds with assets held directly through Vanguard brokerage accounts.
All investing is subject to risk, including the possible loss of the money you invest.
Source: Vanguard, August 2025.