This is correct - you can look up the Vanguard annual report for VAS's underlying fund and see that securities lending income is included in the Statement of Comprehensive Income in the Other Operating Income line, net of fees for the administration of the program. In FY2023, that was about $14.4m on average assets of around $28b, so about 0.05% per annum.
Pls shorted, page-725
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