ETF overview
This index-tracking fund aims to mirror the performance of a specific benchmark, the Standard & Poor's National AMT-Free Municipal Bond Index, which represents the investment-grade segment of the U.S. municipal bond market. It achieves this by employing a sampling strategy, carefully selecting a portion of the index's holdings to replicate its overall characteristics. A minimum of 80% of its assets will be invested in securities included in this target index. Crucially, under typical market conditions, at least 80% of the fund's portfolio will consist of bonds generating income that is exempt from both federal income tax and the federal alternative minimum tax (AMT). A primary risk is its sensitivity to interest rate fluctuations: rising rates can lead to a decrease in bond prices, while falling rates may eventually reduce the income distributed by the fund. This fund is designed for investors seeking potentially tax-free federal income who are comfortable with moderate swings in both investment value and distributed income. To maintain diversification, for 75% of its total assets, the fund generally restricts its holdings: it won't acquire more than 10% of an issuer's voting securities, nor will it invest more than 5% of its total assets in a single issuer's securities. Exceptions to these limits apply when necessary to match the target index's composition or when investing in U.S. government or agency obligations.
Fund facts
- Expense ratio
- 0.03%
- Fund assets
- 52.4B USD (all share classes)
- Issuer
- Vanguard
- Inception date
- Aug 21, 2015
- Number of holdings
- 11,155
Breakdown
Holdings (11,155)
| Name | Ticker | Weight |
|---|---|---|
| Vanguard Municipal Low Duration Fund 12/31/2049 | 0.69% | |
| State of California 5.00% 08/01/2028 | 0.15% | |
| State of California 5.00% 08/01/2029 | 0.14% | |
| New York State Dormitory Authority 5.50% 07/01/2054 | 0.13% | |
| State of Illinois 5.00% 11/01/2028 | 0.12% | |
| Ohio State University/The 5.00% 06/01/2035 | 0.12% | |
| City of New York NY 5.00% 08/01/2034 | 0.10% | |
| State of Wisconsin 5.00% 05/01/2038 | 0.10% | |
| State of Wisconsin 5.00% 05/01/2038 | 0.10% | |
| University of California 5.00% 05/15/2036 | 0.10% | |
| and 11,142 more | ||
Similar ETFs
- Vanguard California Tax-Exempt Bond ETFVTEC · Expense ratio 0.06%
- Vanguard Core Tax-Exempt Bond EVCRM · Expense ratio 0.12%
Historical returns do not guarantee future returns. This is not investment advice.
- Expense ratio
- 0.03%
- Fund assets
- 52.4B USD (all share classes)
- Issuer
- Vanguard
- Inception date
- Aug 21, 2015
- Number of holdings
- 11,155
| Name | Ticker | Weight |
|---|---|---|
| Vanguard Municipal Low Duration Fund 12/31/2049 | 0.69% | |
| State of California 5.00% 08/01/2028 | 0.15% | |
| State of California 5.00% 08/01/2029 | 0.14% | |
| New York State Dormitory Authority 5.50% 07/01/2054 | 0.13% | |
| State of Illinois 5.00% 11/01/2028 | 0.12% | |
| Ohio State University/The 5.00% 06/01/2035 | 0.12% | |
| City of New York NY 5.00% 08/01/2034 | 0.10% | |
| State of Wisconsin 5.00% 05/01/2038 | 0.10% | |
| State of Wisconsin 5.00% 05/01/2038 | 0.10% | |
| University of California 5.00% 05/15/2036 | 0.10% | |
| and 11,142 more | ||
This index-tracking fund aims to mirror the performance of a specific benchmark, the Standard & Poor's National AMT-Free Municipal Bond Index, which represents the investment-grade segment of the U.S. municipal bond market. It achieves this by employing a sampling strategy, carefully selecting a portion of the index's holdings to replicate its overall characteristics. A minimum of 80% of its assets will be invested in securities included in this target index. Crucially, under typical market conditions, at least 80% of the fund's portfolio will consist of bonds generating income that is exempt from both federal income tax and the federal alternative minimum tax (AMT). A primary risk is its sensitivity to interest rate fluctuations: rising rates can lead to a decrease in bond prices, while falling rates may eventually reduce the income distributed by the fund. This fund is designed for investors seeking potentially tax-free federal income who are comfortable with moderate swings in both investment value and distributed income. To maintain diversification, for 75% of its total assets, the fund generally restricts its holdings: it won't acquire more than 10% of an issuer's voting securities, nor will it invest more than 5% of its total assets in a single issuer's securities. Exceptions to these limits apply when necessary to match the target index's composition or when investing in U.S. government or agency obligations.
- Vanguard California Tax-Exempt Bond ETFVTEC · Expense ratio 0.06%
- Vanguard Core Tax-Exempt Bond EVCRM · Expense ratio 0.12%
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