VCLT – Vanguard Long-Term Corporate Bd ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity. The fund manager employs an indexing investment approach designed to track the performance of the Bloomberg U.S. 10+ Year Corporate Bond Index, which includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable debt securities issued by U.S. and non-U.S. industrial, utility, and financial companies, all with maturities greater than 10 years. Under normal circumstances, it 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.

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
VCLT	Vanguard Long-Term Corporate Bond Index Fund ETF Shares	ETF	Open			Nov 19, 2009	$7.77B	0.030%	—	—	$982.56M
VCLT	Vanguard Long-Term Corporate Bond Index Fund ETF Shares	ETF	Open	—		Nov 19, 2009	—	0.030%	—	—	—
VLCIX	Vanguard Long-Term Corporate Bond Index Fund Institutional Shares	Institutional	Open			Nov 19, 2009	$474.62M	0.030%	Low	$5M	$47.28M
VLTCX	Vanguard Long-Term Corporate Bond Index Fund Admiral Shares	Institutional	Open			Jan 19, 2010	$326.41M	0.060%	Low	$3,000	−$34.79M

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