By "active management" I mean actively taking a role in shaping company management, board makeup, corporate governance, say on pay, etc. While Vanguard may vot

By "active management" I mean actively taking a role in shaping company management, board makeup, corporate governance, say on pay, etc. While Vanguard may vote all their shareholder proxies, they almost always vote along with the recommendations of management - practically never holding management accountable. Proof: Take a look at their actual voting record on the S&P 500 fund https://about.vanguard.com/vanguard-proxy-voting/supporting-files/proxyvote0040.pdf?v=1472654330804 https://about.vanguard.com/vanguard-proxy-voting/supporting-...