Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares is an open-end municipal bond mutual fund focused on providing investors with income that is exempt from both federal and New Jersey personal income taxes. The fund primarily invests in a diversified portfolio of high-quality, investment-grade municipal securities issued by the state of New Jersey and its associated entities. With an emphasis on long-term maturities, the portfolio typically holds bonds with maturities ranging from 10 to over 15 years, resulting in a relatively high interest rate sensitivity. This fund is tailored to residents of New Jersey seeking tax-efficient income solutions and is notable for its low expense ratio and no-load structure, making it accessible for cost-conscious investors. It maintains a moderate to high credit quality profile, often overweighting A-rated bonds compared to similar funds, and regularly delivers a competitive yield within its category. The fund’s large asset base and professional management underpin its stability and consistency. Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares plays a distinct role in the municipal bond market by supporting local infrastructure projects and offering individual investors a tax-advantaged avenue to invest in New Jersey’s public sector development.
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