Vanguard High-Yield Tax-Exempt Fund Admiral Shares
FundVWALXNASDAQAbout
This fund's primary objective is to generate a significant and consistent flow of income that is entirely free from federal personal income. It commits at least 80% of its holdings to high-quality municipal bonds, which are either rated as investment-grade by established organizations or considered of similar caliber by the advisor. Up to 20% of the fund's assets may be allocated to municipal bonds with lower credit quality, as assessed by a rating agency or the advisor. While individual security maturities are not limited, the portfolio is expected to maintain an average dollar-weighted maturity between 10 and 25 years. This cost-effective municipal bond offering is especially appealing to individuals in higher tax brackets seeking substantial federally tax-exempt earnings. The inclusion of lower-rated bonds, while potentially boosting the yield, also increases the fund's susceptibility to price volatility due to less certain prospects for the bond issuers. Consequently, it is an appropriate choice for investors who prioritize sustainable federally tax-free interest income, can tolerate moderate risk to their principal, and wish to complement an already diversified fixed-income portfolio.
Key Facts
52-Week Range
Performance
Sector Exposure
- Cash & Others99.97%
- Financial Services0.01%
- Technology0.02%
Top Holdings
| Symbol | Name | Weight | Market Value |
|---|---|---|---|
| — | Vanguard Municipal Low Duration Fund 12/31/2049 | 5.76% | $1.01B |
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 4.33% 07/01/2040 | 0.59% | $102.93M |
| — | Public Finance Authority 6.50% 12/31/2065 | 0.49% | $85.23M |
| — | Public Finance Authority 6.50% 06/30/2060 | 0.36% | $63.98M |
| — | New York Transportation Development Corp 5.50% 06/30/2060 | 0.32% | $55.68M |
| — | Buckeye Tobacco Settlement Financing Authority 5.00% 06/01/2055 | 0.31% | $54.69M |
| — | Louisiana Public Facilities Authority 5.75% 09/01/2064 | 0.31% | $54.43M |
| — | County of Jefferson AL Sewer Revenue 5.50% 10/01/2053 | 0.30% | $53.42M |
| — | Lower Alabama Gas District/The 5.00% 12/01/2033 | 0.30% | $53.05M |
| — | Chicago Board of Education 6.25% 12/01/2050 | 0.29% | $51.39M |
| — | City of Los Angeles Department of Airports 5.50% 05/15/2055 | 0.28% | $48.44M |
| — | Triborough Bridge & Tunnel Authority 5.50% 12/01/2059 | 0.27% | $48.00M |
| — | San Diego County Regional Airport Authority 5.25% 07/01/2050 | 0.27% | $47.19M |
| — | California Community Choice Financing Authority 5.00% 01/01/2055 | 0.27% | $46.68M |
| — | US Dollar | 0.26% | $44.93M |
| — | Commonwealth of Puerto Rico 4.00% 07/01/2033 | 0.25% | $44.63M |
| — | New York Transportation Development Corp 6.00% 06/30/2059 | 0.24% | $42.67M |
| — | Black Belt Energy Gas District 5.00% 12/01/2034 | 0.24% | $42.61M |
| — | Black Belt Energy Gas District 5.00% 05/01/2055 | 0.24% | $42.52M |
| — | New York Transportation Development Corp 5.50% 12/31/2060 | 0.24% | $42.21M |
| — | Chicago O'Hare International Airport 5.50% 01/01/2060 | 0.24% | $41.41M |
| — | Black Belt Energy Gas District 5.00% 12/01/2055 | 0.23% | $40.95M |
| — | Central Plains Energy Project 5.00% 05/01/2054 | 0.23% | $40.13M |
| — | County of Lee FL Airport Revenue 5.50% 10/01/2056 | 0.23% | $39.74M |
| — | Main Street Natural Gas Inc 5.00% 12/01/2054 | 0.22% | $39.28M |