You must buy and sell Vanguard ETF Shares through Vanguard Brokerage Services we offer them commission-free or through another broker which may charge commissions. So when you’re ready to expand your portfolio and balance the risk with a low-cost, diversified bond index fund, VBTLX could be a good choice. This makes for a medium-risk stock fund that is appropriate for most beginning investors with medium risk tolerance and long-term investment objectives. The year in the fund name refers to the approximate year the «target date» when an investor in the fund would retire and leave the workforce. By Kent Thune. This summer, Fidelity Investments launched four index funds that charge no management fees.