Vanguard 'share' prices~ Can someone, with experience, explain the importance of the price of a share?

I have read that share price doesn't matter, but I don't understand that. If you are buying a fund where the share prices are $119 per share (VFINX) vs $19(VGSTX) and they are both good funds, you would be able to purchase alot more shares at the $20 vs $100. Also, there seems to be much more potential for growth of the share price at $20. Can a fund max out it's share price growth?

Also, I am hearing on the news that this recession is supposed to last awhile. I am considering exchanging the funds I already have for the same funds to try to lock in lowest share prices. I know that will affect my bottom line negatively this year but to me it seems that long term it is a good move because of greater growth potential and smaller fall potential. @$17 per share vs $20 that is a reduction of $3 worth of fluctuation loss, right?

I don't plan on making this a habit, I just think that this year is a good year to tinker around for cheap share prices of a proven good fund. Thanks

Share price is determined by taking the total value of the funds assets and dividing by the number of shares. Share price reflects the number of shares and size of the fund, not the relative value of the shares. What matters is the price-earnings ratio of the stocks owned by the fund.

Think of it this way: Two identical companies in every way, size, earnings etc.. One has one million shares outstanding. The other company has 10 million shares outstanding. The second company's price per share will be 1/10 of the first. Yet both shares will be equally "expensive," in that $1000 worth of stock in either company will be the same value.

For a mutual fund, the share price generally reflects the size of the fund and that's it.

With mutual funds, the important thing to look at in past performance is total return, not NAV prices or fluctuation. A $20 NAV MF does not mean that it has more growth potential than a $100 NAV MF.

The share price doesn't matter.

If you have 1 share at $200 you have a $200 investment.
If you have 10 shares at $20 you have a $200 investment.

If you have 1 share at $200 and it goes up 5% you make $10 times 1 share = $10.
If you have 10 shares at $20 and they go up 5% you make $1 times 10 shares = $10

Worrying about the number of shares instead of their value is not investing; it is a potentially expensive hobby, although you may get lucky because low priced shares can go up, too.

There is no maximum price for a share.