Fund Facts  

Inception Date: Sep 18, 1995
CUSIP: 921937504
Ticker Symbol: VBTIX
Morningstar Category:Intermediate-Term Bond
As of Sep 30, 2017
Fund Net Assets ($millions) $189,796

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks the performance of Bloomberg Barclays U.S. Aggregate Float Adjusted Index.

Principal Investment Strategies  

Bloomberg Barclays U.S. Aggregate Float Adjusted Index represents a wide spectrum of public, investment-grade, taxable, fixed income securities in the United States-including government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securities-all with maturities of more than 1 year. All of its investments will be selected through the sampling process, and at least 80% of its assets will be invested in bonds held in the index.

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 Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vanguard Total Bond Market Idxa0.73%3.15%-0.12%2.63%1.98%4.25%5.24%
Bloomberg Barclays U.S. Agg Float-Adjusted Bond Indexa,b0.83%3.21%0.06%2.72%2.07%N/AN/A
Morningstar Intermediate-Term Bonda,c0.88%3.40%0.83%2.51%2.12%4.26%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 Expensesa
Gross Expenses0.04%
Net Expenses0.04%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (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 and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Bloomberg Barclays U.S. Aggregate Bond Floated Adjusted Index consists of investment-grade U.S. fixed income securities and includes agencies and mortgage-backed securities held in government accounts.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 3 Stars852
3-Year 3 Stars852
5-Year 3 Stars773
10-Year 3 Stars546

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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 managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2017
Fixed Income Stylebox
High Moderate
Allocation of Assets As of Aug 31, 2017
Type of Asset Percent
Equity0%
Fixed Income98%
Cash/Other2%

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

 
 

Characteristics

Allocation of Assets As of Aug 31, 2017
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond88.3%
Foreign Bond9.5%
Preferred0.0%
Convertible0.0%
Cash2.2%
Other0.0%

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

 
Fixed Income Sector As of Aug 31, 2017
SectorPercent
Government45.2%
Corporate28.0%
Securitized24.0%
Cash & Equivalents2.2%
Municipal0.7%

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

 
Credit Quality As of Aug 31, 2017
Quality LevelPercent
AAA69.3%
AA4.0%
A11.7%
BBB15.0%
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 Aug 31, 2017
Holding NamePercent
US Treasury Note 2.125%0.5%
US Treasury Note 3.625%0.5%
US Treasury Note 2.625%0.5%
US Treasury Note 1%0.5%
US Treasury Note 1.75%0.4%
US Treasury Note 1.375%0.4%
US Treasury Note 2.25%0.4%
US Treasury Note 1%0.4%
US Treasury Note 1.625%0.4%
US Treasury Note 1.25%0.4%
 

Statistics

Duration and Maturity As of Aug 31, 2017
StatisticValue
Average Effective Duration6.00 years
Average Effective Maturity8.30 years
Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
Beta1.041.03
Alpha-0.17-0.14
Standard Deviation3.062.98
 
 

Footnotes

1.

Please read the fund's prospectus or disclosure materials 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 or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 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.