VMBIX

About VMBIX

Vanguard Mortgage-Backed Securities Index Fund Institutional Shares is a mutual fund that seeks to closely track the performance of a broad, market-weighted index of U.S. mortgage-backed securities. The fund is structured to provide investors with exposure to a diversified pool of mortgage-backed pass-through securities issued predominantly by key government agencies, including the Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA), and Federal Home Loan Mortgage Corporation (FHLMC). By following an indexing investment strategy, the fund aims for stability and consistent income while maintaining high credit quality, as its holdings are primarily backed or guaranteed by the U.S. government or government-sponsored enterprises. This fund plays an essential role in many institutional and diversified fixed-income portfolios, as it offers access to the unique risk-return characteristics of the U.S. mortgage market. Its design makes it a key vehicle for investors seeking broad exposure to the mortgage-backed security sector without requiring active management.