The Independent Vanguard Adviser
Tested. Invested. Unbiased.
Seasoned insights on Vanguard funds that most investors don’t know—and Vanguard won’t tell you.
Count me in!The only independent newsletter written for Vanguard investors, by Vanguard investors.
The Independent Vanguard Adviser is the go-to resource for the serious Vanguard investor who doesn't want to make moves every minute, but wants every move to count.
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Learn MoreBear Markets & Corrections: How Fast Do Stocks Bounce Back?
MAILBAG — How long do market recoveries take?
Diversification Shines Amid Market Uncertainty
MARCH 2025 | Diversification proves its value as uncertainty climbs. Plus, Distributions Ahead, IVA Portfolio Notes, the IVA Factor Tracker and a roundup of articles and analysis from the past month.
Swimming in Uncertain Waters
Vanguard’s board confirmed | More uncertainty than usual | Vanguard pauses company meetings | My appearance on Orion’s The Weighing Machine podcast | 403(b) recordkeeping fees on the rise
A Guide to Vanguard’s Muni Bond Funds
FUNDS FOCUS — TAX-FREE BOND FUNDS | Evaluating Vanguard’s bond options for tax-sensitive investors.
Vanguard’s ETF Crown, Foreign Stocks’ Lead, and Managerial Moves
Record high | Vanguard’s ETF tops the chart | Foreign stocks out to an early lead | Stock index fund manager changes | A manager change at Growth & Income
Bonds Beyond the Benchmark: Navigating Vanguard’s Specialty Bond Funds
FUNDS FOCUS – SPECIALITY BOND FUNDS | You can earn more income by venturing beyond the “total bond market.” But with higher yields come greater risks, so choose carefully.
PRIMECAP at 40: Has This Outperformer Lost Its Edge?
Celebrating 40 years at PRIMECAP while asking if it’s still a buy.
Vanguard: ”Don’t call us, we’ll …”
Vanguard has threatened to terminate accounts of investors they feel call too often. Is this any way to run an investment company?
Vanguard and The Vanguard Group are service marks of The Vanguard Group, Inc. We are not affiliated in any way with The Vanguard Group and receive no compensation from The Vanguard Group, Inc.

Hi, I’m Jeff DeMaso.
Welcome to the Independent Vanguard Adviser.
I’ve been a Vanguard investor for over a decade, co-editing the leading newsletter on Vanguard funds and ETFs. I’m a big Vanguard fan, but they are not perfect (nobody is). I’ll tell you the good and the bad when it comes to Vanguard.
Over two decades while working at a multi-billion-dollar investment firm, I held titles of intern to CIO (and everything in between). I’ve seen investors make avoidable mistakes time and time again. I aim to share the investment insights and advice I want my family and friends to have so that you can make meaningful investments for yours.
When investing, I believe in simplicity, diversification and spending time in the market. A simple promise: My family and I will invest in the same funds I recommend to you!
When I’m not poring over Vanguard’s most recent prospectus, you can find me chasing my toddler around the playground or trying to avoid an injury while reliving the glory days on the soccer pitch.