VCRM – Vanguard Core Tax-Exempt Bond ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide total return through current income that is exempt from federal personal income taxes and capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in debt securities that are primarily issued by U.S. states, local governments, or agencies and whose interest is exempt from federal income taxes and the federal alternative minimum tax (AMT). It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
VCRM	Vanguard Core Tax-Exempt Bond ETF	ETF	Open	—		Nov 21, 2024	$2.29B	0.120%	—	—	$1.71B

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