The Vanguard High-Yield Tax-Exempt Fund Admiral Shares is an actively managed municipal bond mutual fund designed to deliver a high and sustainable level of current income exempt from federal personal income taxes. The fund primarily invests at least 80% of its assets in investment-grade municipal bonds, with the flexibility to allocate up to 20% to lower-rated or nonrated municipal securities, as determined by nationally recognized rating agencies or the fund’s management. By focusing on a diversified portfolio of long-term municipal bonds, the fund seeks to meet the needs of investors seeking tax-advantaged income. With total assets exceeding $15 billion, a low expense ratio, and a diversified holding of over 3,000 securities, the fund plays a significant role in the muni national long category. Its disciplined, risk-aware management approach has historically produced attractive risk-adjusted returns and relative outperformance, particularly through strategic credit allocation to BBB and below-investment-grade bonds. This makes it particularly relevant for individuals and institutions looking to maximize tax-exempt income within their investment strategies, especially in higher tax brackets or as part of broader fixed income allocations.
Based on technical indicators and chart patterns, VWALX shows...
Market sentiment analysis indicates...