VISTX

About VISTX

Vanguard Institutional Short-Term Bond Fund Institutional Plus Shares is an open-end mutual fund focused on high-quality, U.S. dollar–denominated fixed income with a short interest-rate profile. The fund primarily invests in investment-grade government, agency, and corporate bonds and maintains a dollar-weighted average maturity of roughly one to four years, aiming to provide current income with low to moderate interest-rate risk. It follows a disciplined, diversified approach and, under normal circumstances, allocates at least 80% of assets to fixed income securities. Positioned for large institutional allocations, this share class features an ultra-low expense ratio and a high minimum investment, reflecting its institutional design. The fund distributes income monthly and typically exhibits low equity market correlation and low beta, supporting its use as a liquidity-aware core bond holding or cash-plus sleeve within multi-asset portfolios. With hundreds of underlying holdings across issuers and sectors, it plays a stabilizing role in the market by channeling capital to short-term government and high-grade corporate borrowers while helping institutions manage duration and reinvestment needs efficiently.