<prompt> Human: So I know most people on here are big proponent of Vanguard and Ive been planning to roll my old 401k into a new Vanguard account I opened. Yesterday my dad tells me to check out Fidelity because they have no fees and a low expense ratio. Im skeptical because I know Vanguards reputation as well as how low their expense ratios are but I check it out anyways. Turns out, Fidelitys Spartan Total Market Index Fund - Fidelity Advantage Class FSTVX has a net ratio of 0.05 matches Vanguards VTSAX and their Investor Class FSTMX is at 0.10 which is actually lower than Vanguards VTSMX at 0.17. Am I missing something here or does it seem as though Fidelity may actually be a more attractive option in these cases?Update: Thanks for the replies! I did know about Vanguards ownership structure. But for your typical investor does that play much of a factor? Or is it more in how they treat you as a customer rather than just a pleb with a few lousy bucks in an account?  <response>: Vanguard was sort of a pioneer in the low fee space so they get a lot of extra credit, but other large fund firms have been lowering fees to be competitive so there is a lot of choice now. Some people also lean towards Vanguard because of the ownership structure, which is more similar to a credit union. I personally use both, but thats partly because I dont have a choice in where my 401k or brokerage account is. 