DesertDave - Am I correct to assume that the money you have in this fund is actually resident in an account at Vanguard?I don't have a Vanguard account but, I see where I can buy shares of VFIIX directly in my brokerage account. Do you know if this VFIIX is equivalent to VFIJX? I'm thinking that I might like to move some cash from recently expired CD's in to this fund.Yes, our money is at Vanguard. Why have a middleman? How much is your broker going to charge you to buy Vanguard's fund? Vanguard doesn't charge a fee to set up a account and the possible other fees that might apply are dependent upon how much you have (overall) with Vanguard. To get the details call Vanguard's toll free number ( 877-662-7447 M-F 8 a.m. to 10 p.m., Saturday 9 a.m. to 4 p.m., Eastern time) and ask.VFIIX (0036) is Vanguard's regular GNMA account.VFIJX (0536) is Vanguard's Admiral GNMA account.The difference between the two is the Admiral fund requires a larger investment and pays a bit more. Right now the difference is a yield of 4.83 for (0036) vs. 4.93 for (0536) Admiral.You can check it out at:https://personal.vanguard.com/us/funds/snapshot?FundId=0036&FundIntExt=INTAdmiral:https://personal.vanguard.com/us/funds/snapshot?FundId=0536&FundIntExt=INTThe Government National Mortgage Association (GNMA, also known as Ginnie Mae) is a U.S. government-owned corporation within the Department of Housing and Urban Development (HUD).Ginnie Mae provides guarantees on mortgage-backed securities (MBS) backed by federally insured or guaranteed loans, mainly loans issued by the Federal Housing Administration, Department of Veterans Affairs, Rural Housing Service, and Office of Public and Indian Housing. Ginnie Mae securities are the only MBS that are guaranteed by the United States government.http://en.wikipedia.org/wiki/GNMA
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