I dont think the fee applies. Some funds that I know in Fidelity have to hold for certain period of time before you make any changes. Found an article below maybe helpful:

Vanguard
Vanguard also has a strong lineup of in-house funds, characterized by rock-bottom expense ratios. Vanguard funds take the cake on our Analyst Picks list: 36 of the shop's offerings make our list of favorites. There are options for index lovers of course, but Vanguard also boasts a strong set of actively managed funds that are run by outside managers. Vanguard also gets kudos for its solid offering of inexpensive bond funds.

Like the others, Vanguard has a sizeable list of non-Vanguard funds available without a transaction fee. For funds that don't make that list, Vanguard charges $35 each time you buy or sell. And if you go with Vanguard, you won't pay extra to have a representative help you out with mutual fund trades and give you some portfolio guidance (involving Vanguard funds only, however).

Keep in mind, though, that Vanguard charges a $30 annual account maintenance fee unless you have enough to quality for a Voyageur or Flagship account (account minimums of $250,000 and $1 million, respectively). There are other fees as well. For example, you'll be charged $10 per year if you have less than $10,000 in a Vanguard index fund. While those small fees are bothersome, keep in mind that you're getting dirt-cheap access to indexes by purchasing Vanguard funds. So, it is highly likely that you're still spending less than you would elsewhere.

Vanguard's low-cost mantra extends to its money market funds as well. Cash sits in one of three Vanguard Money Market Funds, each of which charges 0.30%.

Co-ask: 我刚开了一个vanguard 的ROTH IRA帐户，买了个index fund, account maintenance fee (见下面) 说for each vanguard index fund, 那么假设我过一段时间卖掉现在的基金，然后买另一index fund, 我就应该交两笔account maintenance fee, 对吗？而且卖掉一个基金买另一基金，我是不是就算先后有两个fund account? 这样我就应该交两笔IRA custodial fee 是吗？

关于redemption fee, redemption 是指卖掉一个基金,钱仍在vanguard 帐户的行为， 还是指卖掉基金关掉vanguard 帐户,取出现金的行为？

哪位高人指点一下迷津，不胜感激了

Account Maintenance Fee

Each Vanguard index fund (except the REIT Index Fund) charges a maintenance fee if the balance is below $10,000. The fee of $10 is deducted annually, or $2.50 per quarter for funds that distribute dividends more than once a year.

Redemption Fee

The fund charges a 2% fee ($20 per $1,000 invested) on shares redeemed within two months of purchase. The fee is paid directly to the fund and therefore is not considered a load.

IRA Custodial Fees

Traditional, Roth, and SEP IRAs. $10 a year for each fund account with a balance of less than $5,000.

some other fees and commissions can be found here: http://flagship3.vanguard.com/VGApp/hnw/content/AccountServ/Brokerage/ATSIntegrityValueContent.jsp

hope that helps.