Investment objective & strategy
As of Dec. 19, 2025 · prospectusObjective. Vanguard Total Corporate Bond ETF (the Fund) seeks to track the performance of a broad, market-weighted corporate bond index.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Corporate Bond Index (the Target Index), which measures the investment-grade, fixed-rate, taxable corporate bond market. The Target Index includes U.S. dollar-denominated securities that are publicly issued by U.S. and non-U.S. industrial, utility, and financial companies. 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. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics. The Fund maintains a … The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Corporate Bond Index (the Target Index), which measures the investment-grade, fixed-rate, taxable corporate bond market. The Target Index includes U.S. dollar-denominated securities that are publicly issued by U.S. and non-U.S. industrial, utility, and financial companies. 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. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics. The Fund maintains a dollar-weighted average maturity consistent with that of the Target Index. As of August 31, 2025, the dollar-weighted average maturity of the Target Index was 10.3 years.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Vanguard Market Liquidity Fund | — | $6.03M | 0.37% |
| BANK OF AMER CRP | — | $2.64M | 0.16% |
| GOLDMAN SACHS GP | — | $2.32M | 0.14% |
| WELLS FARGO CO | — | $2.22M | 0.14% |
| The Goldman Sachs Group, Inc. 4.153 10/21/2029 | GS | $2.19M | 0.13% |
| GOLDMAN SACHS GP | — | $2.12M | 0.13% |
| WELLS FARGO CO | — | $1.99M | 0.12% |
| ANHEUSER-BUSCH | — | $1.76M | 0.11% |
| MORGAN STANLEY | — | $1.70M | 0.10% |
| ANHEUSER-BUSCH | — | $1.69M | 0.10% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| iShares Broad USD Investment Grade Corporate Bond ETF · USIG | 42% | 0.04% |
| VANGUARD ESG U.S. CORPORATE BOND ETF · VCEB | 41% | 0.12% |
| iShares iBoxx $ Investment Grade Corporate Bond ETF · LQD | 41% | 0.14% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of December 19, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 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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