Investment objective & strategy
As of April 29, 2025 · prospectusObjective. The Fund seeks to track the performance of a broad, market-weighted bond index.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Aggregate Float Adjusted Index (the Index). This Index measures the performance of a wide spectrum of public, investment-grade, taxable, fixed income securities in the United Statesincluding government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securitiesall with maturities of more than 1 year. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Funds investments will be selected through the sampling process, and at least 80% of the Funds assets will be invested in … The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Aggregate Float Adjusted Index (the Index). This Index measures the performance of a wide spectrum of public, investment-grade, taxable, fixed income securities in the United Statesincluding government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securitiesall with maturities of more than 1 year. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Funds investments will be selected through the sampling process, and at least 80% of the Funds assets will be invested in bonds held in the Index. The Fund seeks to maintain a dollar-weighted average maturity consistent with that of the Index. As of December 31, 2024, the dollar-weighted average maturity of the Index was 8.3 years. The Fund also seeks to maintain an average duration consistent with that of the Index. As of December 31, 2024, the average duration of the Index was 6 years.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Vanguard Market Liquidity Fund | — | $4.12B | 1.07% |
| US TREASURY N/B | — | $1.85B | 0.48% |
| US TREASURY N/B | — | $1.63B | 0.42% |
| US TREASURY N/B | — | $1.62B | 0.42% |
| US TREASURY N/B | — | $1.62B | 0.42% |
| US TREASURY N/B | — | $1.60B | 0.41% |
| US TREASURY N/B | — | $1.59B | 0.41% |
| US TREASURY N/B | — | $1.56B | 0.40% |
| US TREASURY N/B | — | $1.53B | 0.39% |
| US TREASURY N/B | — | $1.52B | 0.39% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| TOTAL BOND MARKET INDEX PORTFOLIO | 82% | 0.14% |
| VANGUARD TOTAL BOND MARKET II INDEX FUND · VTBIX, VTBNX | 78% | 0.02% |
| Schwab U.S. Aggregate Bond ETF · SCHZ | 70% | 0.03% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of April 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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