Fund Facts  

Inception Date: Dec 12, 2003
Ticker Symbol: VIPIX
Morningstar Category:Inflation-Protected Bond
As of Mar 31, 2016
Fund Net Assets ($millions) $23,650

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to provide inflation protection and income consistent with investment in inflation-indexed securities.

Principal Investment Strategies  

The fund invests at least 80% of its assets in inflation-indexed bonds issued by the U.S. government, its agencies and instrumentalities, and corporations. It may invest in bonds of any maturity; however, its dollar-weighted average maturity is expected to be in the range of 7 to 20 years. At a minimum, all bonds purchased by the fund will be rated investment-grade or, if unrated, will be considered by the advisor to be investment-grade.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vanguard Inflation-Prot Secsa4.58%4.58%1.55%-0.74%3.02%4.53%4.36%
Barclays U.S. Treasury Inflation-Linked Bond Index (Series-L)a,b4.46%4.46%1.51%-0.71%3.02%4.62%N/A
Morningstar Inflation-Protected Bonda,c3.57%3.57%0.06%-1.56%1.95%3.65%N/A

Fund past performance, as shown, is no guarantee of how the fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total expensesa0.07%

 

a. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. ICMA-RC does not independently verify Morningstar data.

b. The Barclays U.S. Treasury Inflation-Linked Bond Index (Series-L), consists of all U.S. Treasury inflation protected securities rated investment grade or better, having at least one year to final maturity and at least $250 million par amount outstanding. The Series-L reference identifies this index as the former Lehman Brothers U.S. TIPS Index.

c. The Morningstar Category Average is the equal-weighted average return of all funds per category, as identified by Morningstar, Inc.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 24, 2015Dec 24, 2015$0.091000000
Mar 26, 2015Mar 26, 2015$0.002900000
Dec 26, 2014Dec 26, 2014$0.150000000
Jun 20, 2014Jun 20, 2014$0.096000000
Mar 28, 2014Mar 28, 2014$0.006000000
Dec 26, 2013Dec 26, 2013$0.090000000
Sep 26, 2013Sep 26, 2013$0.077000000
Jun 27, 2013Jun 27, 2013$0.021000000
Mar 27, 2013Mar 27, 2013$0.041000000
Dec 19, 2012Dec 19, 2012$0.328000000
Sep 27, 2012Sep 27, 2012$0.054000000
Jun 28, 2012Jun 28, 2012$0.028000000
Mar 29, 2012Mar 29, 2012$0.033000000
Dec 27, 2011Dec 27, 2011$0.184000000
Sep 29, 2011Sep 29, 2011$0.074000000
Jun 29, 2011Jun 29, 2011$0.155000000
 

Morningstar Information

Morningstar Rating   As of Mar 31, 2016
Period Stars Category Size
Overall 4 Stars200
3-Year 4 Stars200
5-Year 5 Stars170
10-Year 4 Stars107

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.

Morningstar Stylebox As of Mar 31, 2016
Fixed Income Stylebox
High Extensive
Allocation of Assets As of Dec 31, 2015
Type of Asset Percent
Equity0%
Fixed Income100%
Cash/Other0%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Dec 31, 2015
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond100.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash0.0%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 
Fixed Income Sector As of Dec 31, 2015
SectorPercent
Government97.8%
Corporate2.2%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
Credit Quality As of Dec 31, 2015
Quality LevelPercent
AAA100.0%
AA0.0%
A0.0%
BBB0.0%
BB0.0%
B0.0%
Below B0.0%
Not Rated0.0%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of Dec 31, 2015
Holding NamePercent
US Treasury Note5.2%
US Treasury TIP5.2%
US Treasury Note5.2%
US Treasury Note5.1%
US Treasury TIP4.6%
US Treasury TIP4.2%
US Treasury TIP4.2%
US Treasury TIP4.2%
US Treasury TIP4.1%
US Treasury TIP 0.125%4.1%
 

Statistics

Duration and Maturity As of Dec 31, 2015
StatisticValue
Average Effective Duration7.88 years
Average Effective Maturity8.50 years
Portfolio Statistics As of Mar 31, 2016
Statistic3-Year5-Year
Beta1.031.02
Alpha0.01-0.06
Standard Deviation5.505.17
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2016 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.