Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. Vanguard Total Treasury ETF (the Fund) seeks to track the investment results of an index composed of the broad U.S. Treasury bond market.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Treasury Total Return Unhedged USD Index (the Target Index), which measures U.S. dollar-denominated, fixed-rate, nominal debt issued by the U.S. Treasury. The Target Index includes U.S. Treasury securities (not including inflation-protected securities, floating rate securities, and certain other security types). Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities 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. The Fund invests by sampling the Target Index, meaning that it holds … The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Treasury Total Return Unhedged USD Index (the Target Index), which measures U.S. dollar-denominated, fixed-rate, nominal debt issued by the U.S. Treasury. The Target Index includes U.S. Treasury securities (not including inflation-protected securities, floating rate securities, and certain other security types). Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities 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. 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 seeks to maintain a dollar-weighted average maturity with that of the Target Index. As of September 30, 2025, the dollar-weighted average maturity of the Target Index was 7.7 years.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $803.10K | 0.94% |
| US TREASURY N/B | — | $777.76K | 0.91% |
| US TREASURY N/B | — | $754.97K | 0.89% |
| US TREASURY N/B | — | $753.10K | 0.88% |
| US TREASURY N/B | — | $732.17K | 0.86% |
| US TREASURY N/B | — | $724.96K | 0.85% |
| US TREASURY N/B | — | $719.11K | 0.84% |
| US TREASURY N/B | — | $712.51K | 0.84% |
| US TREASURY N/B | — | $703.31K | 0.83% |
| US TREASURY N/B | — | $676.61K | 0.79% |
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. |
|---|---|---|
| State Street(R) SPDR(R) Portfolio Treasury ETF · SPTB | 91% | 0.03% |
| Columbia U.S. Treasury Index Fund · LUTAX, IUTIX, CUTRX, CUTYX | 91% | 0.17% |
| iShares U.S. Intermediate Government Bond Index Fund | 74% | 0.10% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of January 28, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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