No one-off charges?

On Vanguard’s website the Vanguard Global Aggregate Bond UCITS ETF is listed as having 0.11% OCF, 0.02% transaction fee, 0.17% one off charge:

On Freetrade instead it’s listed as having no one-off charge:

How is this possible?

Vanguards terminology of a ‘one off’ is highly confusing.

I read it as either …

the spread they’ve incurred on trading (in which case it’s a transaction charge and baked into the price of the fund already)


the average daily bid/offer spread difference on the actual ETF… in which case it’s not a upfront cost to you… it’s would only ever be real if you bought and sold within a small window of time… and vanguard can’t control the spread… that’s market makers… so it’s entirely ‘guess work’. Yes you ‘suffer’ the spread, everyone does - on all transactions. But by this definition every stock would need to compute its average rolling 30 day spread and disclose it as a ‘one off cost’ upon entry. Ugh!

So… irrelevant. Ignore it. Terminology differences.

In the document they define them as “All costs and charges paid to fund providers at the beginning or at the end of the investment in the fund. This includes front-loaded management fee, structuring fee and distribution fee.”

When I try and buy that fund, they show that percentage as a cost taken upfront from the money invested.