★The Popular Vanguard S&P 500 ETF Costs $605 a Share. Vanguard Doesn't Think That's a Problem.

Vanguard is deliberately opting *not* to split its most popular, high-priced ETFs, like the S&P 500 ETF (VOO), even as it executes splits on five other funds. What's interesting here is that Vanguard believes a high per-share price doesn't deter retail investors from accessing broad market exposure, especially given fractional share trading capabilities and its own low expense ratios. The real question is whether this strategy, prioritizing simplicity over psychological price points, will continue to resonate with the next generation of investors who might prefer lower nominal share prices for perceived accessibility. Keep an eye on whether competitors start using lower share prices as a marketing differentiator, potentially forcing Vanguard to reconsider its stance on these flagship products. Ultimately, it highlights Vanguard's confidence in its brand and core value proposition, even if it bucks conventional wisdom.