I am not sure of the accuracy of a news report that describes Vanguard as a hedge fund.
EXACTLY my first thought. If you start off not knowing that the Vanguard Group is first and foremost is an investor-owned company, you're already losing credibility with me.
If you have any investment in a Vanguard sponsored fund, you are an owner - one of over 30 million other investors.
Where I can see this potentially being an issue is how Vanguard votes the shares they hold for benefit of the shareholders. I know I don't vote the shares of Exxon-Mobile held in an S&P 500 index fund with them.
So, do they throw their weight around in the corporate boardrooms - pushing DEI and ESG agendas? Are they just a rubber-stamp for what the board and corporate execs recommend when voting proxies? I don't know - but would like to know.