When others go low, Vanguard usually goes lower – but not always.

The Valley Forge, Pa.-based asset manager announced on Friday another round of expense ratio changes, lowering them on dividend mutual funds and an ETF, while increasing them on some products.

The reductions included four Vanguard mutual funds and one ETF:

  • Vanguard Dividend Appreciation Index Fund Investor Shares (VDAIX) declined 2 basis points to 0.17%.
  • Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX) declined 1 basis point to 0.08%.
  • Vanguard Dividend Appreciation ETF (VIG) declined 1 basis point to 0.08%.
  • Vanguard Dividend Growth Fund (VDIGX) declined 3 basis points to 0.30%.
  • Vanguard Long-Term Investment-Grade Fund Admiral Shares (VWETX) declined 1 basis point to 0.11%.

Vanguard also announced expense ratio increases on six of its active mutual funds:

  • Vanguard Health Care Fund Investor Shares (VGHCX) increased 1 basis point to 0.37%.
  • Vanguard Health Care Fund Admiral Shares (VGHAX) increased 1 basis point to 0.32%.
  • Vanguard Precious Metals and Mining Fund (VGPMX) increased 8 basis points to 0.43%.
  • Vanguard Energy Fund Investor Shares (VGENX) increased 4 basis points to 0.41%.
  • Vanguard Energy Fund Admiral Shares (VGELX) increased 2 basis points to 0.33%.
  • Vanguard Long-Term Investment-Grade Fund Investor Shares (VWESX) increased 1 basis point to 0.22%.

Three of the increases were due to performance incentives, and three were due to increased expenses, according to Vanguard.

In it’s announcement, Vanguard said that this would be the final round of expense ratio changes for the 2016-2017 fiscal year.

According to a recent Morningstar report on fund fees release days before the announcement, Vanguard already had the lowest average expense ratios of any U.S. asset manager.

Vanguard investors pay, on average, 0.11 percent of their assets under management annually, according to Vanguard. Vanguard’s closest competitor, State Street Global Advisors, charged investors an average of 0.19 percent.

Over the past six months, Vanguard has reduced expenses on 226 mutual fund and ETF shares, offering an estimated $337 million in cumulative savings based on its investors’ total assets. Over the same time period, 160 fund shares reported no change, and 14 reported an increase in expense ratios. As of April, 2017, the firm had $4.3 trillion in AUM.