Yes, with both my Vanguard (one is a self-directed IRA, the other is a straight Brokerage)and Fidelity accounts, a fund redemption of 1% is charged if the fund is outside of Vanguard's/Fidelity's family. If you were to buy and sell say, a Rydex Ursa or Nova fund from your Fidelity account, you would have a similar charge.
The reason I account for the 1% is that many people may wish to enter those funds from their IRA/whatever, that may be outside that family. And i did not want that cost to be overlooked. Also, other than ProFunds, there are several high performing funds that work better for uptrends than the ProFunds (notably Putnam OTC, Fidelity FDCPX, one Dreyfus, one Northern fund, etc). None perform better in downturns than the ProFund Ultra Bear, Short and Ultra Short, however. The potential gains from funds outside of any one family far outweigh the 1% fee, so my concern was which Institution allowed trading (phone and online) in the largest number of funds other than their own. Vanguard won.
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