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VWEAX Vanguard High-Yield Corporate Adm

  • Fund
  • VWEAX
  • Price as of: Dec 09, 2016
  • $5.83
  • + $0.01
  • + 0.17%
  • Category
  • High Yield Bonds

VWEAX - Profile

Vitals

  • YTD Return 5.2%
  • 3 Yr Annualized Return 4.4%
  • 5 Yr Annualized Return 6.9%
  • Net Assets $20.5 B
  • Holdings in Top 10 8.0%

52 WEEK LOW AND HIGH

$5.83
$5.28
$5.92

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.13%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 34.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

$50,000

Investment Themes

CATEGORY

High Yield Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Distributions

  • YTD Total Return 5.2%
  • 3 Yr Annualized Total Return 4.4%
  • 5 Yr Annualized Total Return 6.9%
  • Capital Gain Distribution Frequency None
  • Net Income Ratio 5.71%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard High Yield Corporate Fund
  • Fund Family Name Vanguard
  • Inception Date Nov 12, 2001
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Michael L. Hong

Fund Description

The Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) is a low-cost, actively managed bond fund that seeks to provide a high level of current income. VWEAX invests in high-yield or junk bonds. These are bonds from firms with less-than-ideal credit ratings. As such, they pay a higher coupon. The fund uses rigorous credit management and research in order to find undervalued bonds that support its mandate.

As a low-cost option, VWEAX makes a great core choice for investors looking to beef up their income portfolios. The fund is managed by Wellington Management Company LLP.

VWEAX - Performance

Return Ranking - Trailing

Period VWEAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 5.2% -30.0% 333.8% 52.26% 4
1 Yr 7.8% -30.5% 333.8% 57.56% 3
3 Yr 4.4% * -14.3% 56.1% 8.54% 1
5 Yr 6.9% * -10.4% 21.4% 25.91% 2
10 Yr 6.4% * -4.8% 7.9% 32.58% 2

* Annualized


Return Ranking - Calendar

Period VWEAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -7.2% -34.3% 1.0% 18.98% 2
2014 -1.0% -21.7% 10.4% 6.07% 1
2013 -1.3% -16.9% 31.6% 50.95% 4
2012 7.4% -18.5% 17.6% 33.77% 3
2011 -0.2% -18.8% 6.8% 5.70% 1

Total Return Ranking - Trailing

Period VWEAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 5.2% -30.0% 333.8% 60.47% 5
1 Yr 7.8% -30.5% 333.8% 41.20% 3
3 Yr 4.4% * -12.0% 56.1% 6.73% 1
5 Yr 6.9% * -4.0% 21.4% 22.46% 2
10 Yr 6.4% * -4.8% 12.5% 30.56% 2

* Annualized


Total Return Ranking - Calendar

Period VWEAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -6.7% -30.4% 4.6% 36.80% 3
2014 -1.0% -18.4% 10.4% 35.01% 2
2013 -1.3% -16.9% 55.9% 68.63% 5
2012 7.4% -18.5% 33.1% 59.09% 4
2011 -0.2% -18.8% 11.9% 30.17% 2

NAV & Total Return History

VWEAX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

VWEAX Category Low Category High VWEAX % Rank Quintile
Net Assets 20.5 B 2.52 M 20.6 B 0.15% 1
Number of Holdings 477 1 1424 6.75% 2
Net Assets in Top 10 1.61 B -32.2 M 3.32 B 0.61% 1
Weighting of Top 10 8.0% 0.0% 100.0% 25.77% 4

Top 10 Holdings

  1. First Data 144A 7% 0.95%
  2. US Treasury Note 0.625% 0.92%
  3. US Treasury Note 0.875% 0.85%
  4. Chs / Cmnty Health Sys 6.875% 0.74%
  5. Softbank Grp 144A 4.5% 0.82%
  6. Dish Dbs 6.75% 0.81%
  7. Bldg Matls Corp Amer 144A 6% 0.74%
  8. Sprint Nextel 144A 7% 0.72%
  9. Wynn Las Vegas Llc / Wynn 5.375% 0.71%
  10. Sprint 7.875% 0.71%

Asset Allocation

Weighting Category Low Category High VWEAX % Rank Quintile
Bonds
95.43% -9.44% 107.80% 7.67% 2
Other
2.07% -11.89% 38.60% 8.90% 2
Preferred Stocks
1.00% 0.00% 18.78% 6.60% 1
Cash
0.84% -11.47% 109.44% 27.45% 5
Stocks
0.66% 0.00% 99.40% 10.12% 2
Convertible Bonds
0.00% 0.00% 18.92% 13.19% 3

Stock Sector Breakdown

Weighting Category Low Category High VWEAX % Rank Quintile
Utilities
0.00% -0.07% 6.44% N/A N/A
Technology
0.00% 0.00% 26.11% N/A N/A
Real Estate
0.00% 0.00% 8.20% N/A N/A
Industrials
0.00% 0.00% 15.72% N/A N/A
Healthcare
0.00% 0.00% 21.24% N/A N/A
Financial Services
0.00% 0.00% 16.65% N/A N/A
Energy
0.00% 0.00% 12.30% N/A N/A
Communication Services
0.00% -0.06% 9.11% N/A N/A
Consumer Defense
0.00% -0.12% 5.56% N/A N/A
Consumer Cyclical
0.00% 0.00% 16.04% N/A N/A
Basic Materials
0.00% 0.00% 1.80% N/A N/A

Stock Geographic Breakdown

Weighting Category Low Category High VWEAX % Rank Quintile
US
0.66% 0.00% 83.03% 9.05% 2
Non US
0.00% -0.01% 53.05% 7.21% 2

Bond Sector Breakdown

Weighting Category Low Category High VWEAX % Rank Quintile
Corporate
93.50% 0.00% 101.98% 8.90% 2
Government
1.92% -9.04% 51.73% 6.90% 1
Cash & Equivalents
0.84% -7.60% 100.00% 26.69% 5
Securitized
0.07% 0.00% 68.93% 16.41% 4
Municipal
0.00% 0.00% 100.00% 4.29% 1
Derivative
0.00% -19.62% 9.44% 3.68% 1

Bond Geographic Breakdown

Weighting Category Low Category High VWEAX % Rank Quintile
US
79.00% -9.44% 100.00% 9.51% 2
Non US
16.43% 0.00% 47.90% 15.95% 3

VWEAX - Expenses

Operational Fees

VWEAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.13% 0.00% 3.69% 28.42% 1
Management Fee 0.12% 0.12% 1.00% 7.36% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.45% N/A N/A

Sales Fees

VWEAX Fees (% of AUM) Category Low Category High VWEAX Rank Quintile
Front Load N/A 2.00% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

VWEAX Fees (% of AUM) Category Low Category High VWEAX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VWEAX Fees (% of AUM) Category Low Category High VWEAX Rank Quintile
Turnover 34.00% 3.52% 2247.00% 14.13% 1

VWEAX - Distributions

Dividend Yield Analysis

VWEAX Category Low Category High VWEAX % Rank Quintile
Dividend Yield 0.3% 0.00% 6.16% 41.35% 4

Dividend Distribution Analysis

VWEAX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

VWEAX Category Low Category High VWEAX % Rank Quintile
Net Income Ratio 5.71% -2.75% 9.92% 16.44% 2

Capital Gain Distribution Analysis

VWEAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency None Annually Quarterly Annually

VWEAX - Managers

Michael L. Hong

Manager

Start Date

Feb 14, 2008

Tenure

8.8

Tenure Rank

5.6%

Michael L. Hong, CFA, vice president, fixed-income credit analyst and portfolio manager of Wellington Management. Mr. Hong, 35, who leads the firm’s high-yield credit research team. He has worked in investment management with Wellington Management since 1997. Education: A.B., Harvard College.


Tenure Analysis

Category Low

0.0

Category High

56.5

Category Average

6.46

Category Mode

1.9