What is the difference between Admiral shares and the S&P 500?

The Vanguard 500 Index Fund Admiral Shares is an investment fund offered by Vanguard while the S&P 500 is just a market index that tracks the largest 500 U.S. stocks by market cap. You cannot invest in the S&P 500 as it is an index but you can invest in the many funds that track it, which is what the Vanguard 500 does.

Are Admiral shares a good investment?

The primary benefit of investing in Admiral Shares in Vanguard's funds is the cost savings. The expense ratios on average are well below the industry average and below Vanguard's Investor Shares. To take advantage of these shares, an investor is required to maintain a minimum investing amount depending on the specific type of fund.

How do I convert investor share funds to Admiral shares?

In addition, Vanguard mutual fund shareholders who want to convert Investor Share funds to Admiral Shares can do this by making a simple request to Vanguard. In some cases, Vanguard will make the conversion automatically because they periodically evaluate client balances to determine if they qualify for conversion.