Investment Strategy
The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Aggregate Float Adjusted Index (the “Target Index”). The Target Index measures the performance of a wide spectrum of public, investment-grade, taxable bonds 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. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the bonds that make up the Target Index and in securities that the advisor determines have substantially identical economic characteristics to the securities that make up the Target Index.
Fees & Expenses
| Net Expense Ratio | 0.03% |
| Management Fee | 0.02% |
| Portfolio Turnover | 38% |
Reported Performance
Average annual returns as reported in the fund's most recent prospectus. Past performance does not guarantee future results.
| 1-Year Return | 7.08% |
| 5-Year Avg Annual | 0.44% |
| 10-Year Avg Annual | 1.98% |
Holdings
Top 10 holdings
| Name | Ticker | Weight | Value |
|---|---|---|---|
| Vanguard Market Liquidity Fund | 1.14% | $4,386,591,120 | |
| US TREASURY N/B | 0.43% | $1,658,275,833 | |
| US TREASURY N/B | 0.43% | $1,639,986,727 | |
| US TREASURY N/B | 0.42% | $1,617,388,285 | |
| US TREASURY N/B | 0.42% | $1,607,297,526 | |
| US TREASURY N/B | 0.41% | $1,585,664,703 | |
| US TREASURY N/B | 0.41% | $1,563,083,961 | |
| US TREASURY N/B | 0.40% | $1,542,127,679 | |
| US TREASURY N/B | 0.40% | $1,529,005,468 | |
| US TREASURY N/B | 0.38% | $1,458,698,072 |
Exposure direction
| Direction | Weight |
|---|---|
| Long exposure | 99.8% |
| Short exposure | -0.0% |
| Total | 99.8% |
Country
| Country | Weight |
|---|---|
| United States | 93.2% |
| Canada | 1.1% |
| United Kingdom | 0.8% |
| Japan | 0.5% |
| Mexico | 0.3% |
| Germany | 0.3% |
| Australia | 0.2% |
| Ireland | 0.1% |
| Philippines | 0.1% |
| Spain | 0.1% |
| South Korea | 0.1% |
| Indonesia | 0.1% |
| Netherlands | 0.1% |
| Cayman Islands | 0.1% |
| Singapore | 0.1% |
| Other | 0.9% |
| Unknown | 1.4% |
| Total | 99.8% |
Region
| Region | Weight |
|---|---|
| Americas | 95.0% |
| Europe | 2.0% |
| Asia-Pacific | 1.2% |
| Middle East & Africa | 0.1% |
| Other | 0.1% |
| Unknown | 1.4% |
| Total | 99.8% |
Market classification
| Market | Weight |
|---|---|
| Developed | 97.0% |
| Emerging | 1.0% |
| Other | 0.4% |
| Unknown | 1.4% |
| Total | 99.8% |
Asset class
| Class | Weight |
|---|---|
| Debt | 77.4% |
| ABS-mortgage-backed | 20.8% |
| Short-term investment | 1.1% |
| ABS-collateralized bond/debt | 0.4% |
| Total | 99.8% |
Issuer type
| Type | Weight |
|---|---|
| US Treasury | 47.9% |
| Corporate | 29.2% |
| US Govt Sponsored Enterprise | 15.8% |
| US Govt Agency | 4.8% |
| NUSS | 1.7% |
| Municipal | 0.4% |
| Total | 99.8% |
Maturity
| Maturity | Weight |
|---|---|
| Under 1 year | 1.0% |
| 1-3 years | 22.4% |
| 3-5 years | 16.9% |
| 5-10 years | 19.9% |
| Over 10 years | 38.5% |
| No expiry | 1.1% |
| Total | 99.8% |