Vanguard Total Bond Market Index Fund Admiral Shares is a mutual fund designed to offer broad, diversified exposure to the investment-grade U.S. bond market. Its primary function is to track the performance of the Bloomberg U.S. Aggregate Float Adjusted Index, which encompasses a wide array of fixed income securities including U.S. Treasuries, government agency bonds, mortgage-backed, asset-backed, and corporate bonds, all denominated in U.S. dollars and with maturities over one year. Notably, the fund excludes riskier credit instruments and bonds with equity-like characteristics, focusing instead on high-quality, investment-grade debt. This conservative approach results in a portfolio where over 70% of holdings have AAA or AA ratings, emphasizing stability and credit quality. The fund’s substantial weighting in U.S. Treasuries and its low expense ratio support its role as a core bond holding, suitable for investors seeking broad market coverage and consistent income from monthly dividends. Since its inception in 2001, it has played a significant role in providing investors with a cost-effective means of accessing the total U.S. bond market, supporting portfolio diversification and risk mitigation.
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