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VWEHX Vanguard High-Yield Corporate Inv

  • Fund
  • VWEHX
  • Price as of: Jun 21, 2017
  • $5.94
  • - $0.02
  • - 0.34%
  • Category
  • High Yield Bonds

VWEHX - Profile

Vitals

  • YTD Return 1.9%
  • 3 Yr Annualized Return 4.7%
  • 5 Yr Annualized Return 6.5%
  • Net Assets $23.5 B
  • Holdings in Top 10 8.1%

52 WEEK LOW AND HIGH

$5.94
$5.63
$5.97

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.23%

SALES FEES

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

BROKERAGE FEES

  • Turnover 26.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000

IRA

$3,000

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return 4.7%
  • 5 Yr Annualized Total Return 6.5%
  • Capital Gain Distribution Frequency None
  • Net Income Ratio 5.48%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard High Yield Corporate Fund
  • Fund Family Name Vanguard
  • Inception Date Dec 27, 1978
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Michael L. Hong

Fund Description

The Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) is a low-cost, actively managed bond fund that seeks to provide a high level of current income. VWEHX invests in high-yield or junk bonds. These are bonds made to firms with less-than-stellar 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, VWEHX makes a great core choice for investors looking to add to their income portfolios. The fund is managed by Wellington Management Company LLP.

VWEHX - Performance

Return Ranking - Trailing

Period VWEHX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.9% -30.8% 10775.8% 19.91% 2
1 Yr 10.8% -30.5% 24.5% 58.80% 3
3 Yr 4.7% * -13.4% 7.2% 9.61% 1
5 Yr 6.5% * -12.7% 14.5% 29.39% 2
10 Yr 6.3% * -12.4% 12.4% 33.70% 2

* Annualized


Return Ranking - Calendar

Period VWEHX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 5.2% -14.1% 332.1% 51.04% 4
2015 -7.2% -34.3% 1.0% 18.82% 2
2014 -1.0% -21.7% 10.4% 6.41% 1
2013 -1.3% -16.9% 31.6% 52.21% 4
2012 7.4% -18.5% 17.6% 33.62% 3

Total Return Ranking - Trailing

Period VWEHX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.9% -30.8% 10775.8% 19.94% 2
1 Yr 10.8% -30.5% 24.5% 43.98% 3
3 Yr 4.7% * -13.4% 7.2% 7.98% 1
5 Yr 6.5% * -12.7% 14.5% 25.88% 2
10 Yr 6.3% * -12.4% 12.4% 30.60% 2

* Annualized


Total Return Ranking - Calendar

Period VWEHX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 5.2% -14.1% 332.1% 59.20% 5
2015 -6.7% -30.4% 4.6% 37.32% 3
2014 -1.0% -18.4% 10.4% 36.05% 3
2013 -1.3% -16.9% 55.9% 68.91% 5
2012 7.4% -18.5% 33.1% 58.79% 4

NAV & Total Return History

VWEHX - Holdings

Filings data as of: Mar 31, 2017

Concentration Analysis

VWEHX Category Low Category High VWEHX % Rank Quintile
Net Assets 23.5 B 746 K 23.5 B 0.15% 1
Number of Holdings 489 1 1470 6.44% 2
Net Assets in Top 10 1.78 B -32.2 M 2.66 B 0.46% 1
Weighting of Top 10 8.1% 0.0% 100.0% 26.38% 4

Top 10 Holdings

  1. US Treasury Note 0.625% 0.93%
  2. First Data 144A 7% 0.88%
  3. Univision Comms 144A 5.125% 0.83%
  4. Dish Dbs 6.75% 0.74%
  5. Softbank Grp 144A 4.5% 0.70%
  6. Bldg Matls Corp Amer 144A 6% 0.65%
  7. Wynn Las Vegas Llc / Wynn 5.375% 0.64%
  8. Sprint 7.875% 1.38%
  9. Chs / Cmnty Health Sys 6.875% 0.67%
  10. Sprint Cap 6.875% 0.63%

Asset Allocation

Weighting Category Low Category High VWEHX % Rank Quintile
Bonds
92.79% -16.62% 107.80% 11.66% 2
Cash
4.27% -11.47% 116.62% 14.88% 3
Other
1.52% -9.24% 38.60% 16.41% 3
Preferred Stocks
0.85% 0.00% 22.68% 6.75% 1
Stocks
0.58% 0.00% 98.72% 10.74% 2
Convertible Bonds
0.00% 0.00% 18.92% 15.34% 5

Stock Sector Breakdown

Weighting Category Low Category High VWEHX % Rank Quintile
Utilities
0.00% -0.07% 2.96% N/A N/A
Technology
0.00% -0.35% 25.61% N/A N/A
Real Estate
0.00% 0.00% 6.32% N/A N/A
Industrials
0.00% -0.01% 12.56% N/A N/A
Healthcare
0.00% 0.00% 15.13% N/A N/A
Financial Services
0.00% 0.00% 19.78% N/A N/A
Energy
0.00% -0.03% 13.39% N/A N/A
Communication Services
0.00% -0.08% 5.99% N/A N/A
Consumer Defense
0.00% -0.16% 6.06% N/A N/A
Consumer Cyclical
0.00% 0.00% 15.66% N/A N/A
Basic Materials
0.00% 0.00% 4.16% N/A N/A

Stock Geographic Breakdown

Weighting Category Low Category High VWEHX % Rank Quintile
US
0.58% 0.00% 80.67% 9.97% 2
Non US
0.00% -0.02% 53.17% 6.75% 5

Bond Sector Breakdown

Weighting Category Low Category High VWEHX % Rank Quintile
Corporate
92.36% 0.00% 103.70% 9.20% 2
Cash & Equivalents
4.27% -7.60% 100.00% 13.96% 2
Government
0.93% -8.47% 68.99% 8.59% 2
Securitized
0.12% 0.00% 63.56% 14.72% 3
Derivative
0.00% -19.62% 16.62% 3.99% 5
Municipal
0.00% 0.00% 99.36% 4.14% 5

Bond Geographic Breakdown

Weighting Category Low Category High VWEHX % Rank Quintile
US
76.82% -16.62% 100.00% 10.12% 2
Non US
15.97% 0.00% 47.89% 17.18% 3

VWEHX - Expenses

Operational Fees

VWEHX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.23% 0.00% 5.24% 28.88% 1
Management Fee 0.20% 0.00% 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

VWEHX Fees (% of AUM) Category Low Category High VWEHX 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

VWEHX Fees (% of AUM) Category Low Category High VWEHX 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.

VWEHX Fees (% of AUM) Category Low Category High VWEHX Rank Quintile
Turnover 26.00% 3.52% 1851.00% 17.05% 1

VWEHX - Distributions

Dividend Yield Analysis

VWEHX Category Low Category High VWEHX % Rank Quintile
Dividend Yield 0.3% 0.00% 6.16% 41.82% 4

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

VWEHX Category Low Category High VWEHX % Rank Quintile
Net Income Ratio 5.48% -2.63% 12.36% 19.82% 3

Capital Gain Distribution Analysis

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

VWEHX - Managers

Michael L. Hong

Manager

Start Date

Feb 14, 2008

Tenure

9.3

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

57.0

Category Average

6.67

Category Mode

0.3