Ah thanks, I hadn't thought about that aspect. That totally makes sense. Is there any information on how Vanguard exercises this? Looking online it's hard to f

Ah thanks, I hadn't thought about that aspect. That totally makes sense. Is there any information on how Vanguard exercises this? Looking online it's hard to find any actual reporting on it. It seems like Vanguard could either not participate in governance at all, participate in a kind of "neutral" fiduciary way designed to ensure accountability but without pissing off any segment of Vanguard investors, or could be more "activist" which is where it could abuse that power. Is there some kind of US law that forces it to operate in a fiduciary way? Or isn't that just what's best for business anyways? I'm still wondering if there's any realistic opportunity for abuse of power here.