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VWIUX Vanguard Interm-Term Tx-Ex Adm

  • Fund
  • VWIUX
  • Price as of: Aug 18, 2017
  • $14.25
  • + $0.01
  • + 0.07%
  • Category
  • National Munis

VWIUX - Profile

Vitals

  • YTD Return 2.6%
  • 3 Yr Annualized Return 3.0%
  • 5 Yr Annualized Return 3.0%
  • Net Assets $53.4 B
  • Holdings in Top 10 2.1%

52 WEEK LOW AND HIGH

$14.25
$13.74
$14.57

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.09%

SALES FEES

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

BROKERAGE FEES

  • Turnover 9.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

$50,000

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Interm

Distributions

  • YTD Total Return 2.6%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.82%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard Intermediate-Term Tax-Exempt Fund
  • Fund Family Name Vanguard
  • Inception Date Feb 12, 2001
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager James M. D'Arcy

Fund Description

The Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares (VWIUX) is a low-cost, actively manage fund that seeks to provide high current income while avoiding Federal taxes. VWIUX does this by investing in intermediate-term municipal bonds, usually with a duration of seven to 10 years. Munis are bonds issued by states, towns and local governments to pay for various programs and are exempt from Federal taxes. The fund uses credit management to find undervalued muni bonds that could provide income and capital appreciation.

Given its low costs, VWIUX makes an ideal core fund for those investors in higher tax brackets looking to trim their bills. The fund is internally managed by Vanguard.

VWIUX - Performance

Return Ranking - Trailing

Period VWIUX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.6% -3.4% 99.4% 18.45% 2
1 Yr -0.4% -5.8% 10.7% 37.13% 2
3 Yr 3.0% * -4.5% 7.0% 30.29% 2
5 Yr 3.0% * -0.6% 5.8% 28.81% 2
10 Yr 4.3% * -0.6% 5.9% 20.04% 1

* Annualized


Return Ranking - Calendar

Period VWIUX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -2.6% -8.5% 7.3% 36.66% 3
2015 -0.1% -10.9% 7.2% 18.63% 2
2014 4.0% -7.7% 12.0% 34.55% 3
2013 -4.6% -11.9% 5.4% 29.52% 3
2012 2.5% -7.1% 10.2% 37.20% 3

Total Return Ranking - Trailing

Period VWIUX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.6% -3.0% 99.4% 18.45% 2
1 Yr -0.4% -8.9% 8.9% 25.73% 2
3 Yr 3.0% * -5.4% 7.0% 20.83% 2
5 Yr 3.0% * -1.2% 5.8% 22.94% 2
10 Yr 4.3% * -0.6% 5.9% 16.24% 1

* Annualized


Total Return Ranking - Calendar

Period VWIUX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -2.6% -8.2% 7.3% 42.40% 3
2015 -0.1% -9.7% 6.9% 34.36% 3
2014 4.0% -7.7% 17.0% 42.76% 3
2013 -4.6% -11.9% 5.1% 38.86% 3
2012 2.5% -0.6% 17.8% 46.14% 4

NAV & Total Return History

VWIUX - Holdings

Filings data as of: Mar 31, 2017

Concentration Analysis

VWIUX Category Low Category High VWIUX % Rank Quintile
Net Assets 53.4 B 491 K 53.4 B 0.16% 1
Number of Holdings 6452 1 6452 0.16% 1
Net Assets in Top 10 1.11 B -472 M 1.12 B 0.32% 1
Weighting of Top 10 2.1% 0.0% 100.0% 35.48% 5

Top 10 Holdings

  1. California St Dept Wtr Res Pwr Pwr Su 5% 0.32%
  2. Central Plains Engy Proj Neb Rev Ref 5% 0.32%
  3. Univ Calif Revs For Prev Rev Bds 5% 0.29%
  4. Maryland St St And Lo 5% 0.26%
  5. California St Go Bds 5.75% 0.17%
  6. Maryland St Go Bds 5% 0.17%
  7. Maryland St Go Bds 5% 0.16%
  8. Maryland St Go Bds 4% 0.15%
  9. Massachusetts St Go Bds 5% 0.15%
  10. Los Angeles Calif Uni Sch Dist 5% 0.15%

Asset Allocation

Weighting Category Low Category High VWIUX % Rank Quintile
Bonds
98.26% 0.00% 202.21% 11.76% 3
Cash
1.74% -110.85% 100.00% 19.35% 3
Stocks
0.00% 0.00% 1.33% 1.29% 1
Preferred Stocks
0.00% 0.00% 11.27% 1.29% 1
Other
0.00% -2.77% 29.98% 6.94% 2
Convertible Bonds
0.00% 0.00% 2.92% 0.81% 1

Bond Sector Breakdown

Weighting Category Low Category High VWIUX % Rank Quintile
Municipal
98.07% 0.00% 131.46% 10.97% 2
Cash & Equivalents
1.74% -110.85% 100.00% 19.35% 3
Government
0.20% -32.85% 117.34% 11.94% 3
Derivative
0.00% -3.19% 7.71% 0.65% 1
Securitized
0.00% 0.00% 27.69% 2.42% 1
Corporate
0.00% 0.00% 36.50% 3.71% 1

Bond Geographic Breakdown

Weighting Category Low Category High VWIUX % Rank Quintile
US
98.26% 0.00% 202.21% 11.61% 3
Non US
0.00% 0.00% 27.66% 0.81% 1

VWIUX - Expenses

Operational Fees

VWIUX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.09% 0.09% 4.60% 25.44% 1
Management Fee 0.08% 0.00% 1.00% 6.92% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.35% N/A N/A

Sales Fees

VWIUX Fees (% of AUM) Category Low Category High VWIUX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

VWIUX Fees (% of AUM) Category Low Category High VWIUX Rank Quintile
Max Redemption Fee N/A 0.25% 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.

VWIUX Fees (% of AUM) Category Low Category High VWIUX Rank Quintile
Turnover 9.00% 0.42% 905.27% 16.91% 1

VWIUX - Distributions

Dividend Yield Analysis

VWIUX Category Low Category High VWIUX % Rank Quintile
Dividend Yield 0.4% 0.00% 1.01% 10.93% 1

Dividend Distribution Analysis

VWIUX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

VWIUX Category Low Category High VWIUX % Rank Quintile
Net Income Ratio 2.82% -0.60% 5.26% 16.75% 2

Capital Gain Distribution Analysis

VWIUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

VWIUX - Managers

James M. D'Arcy

Manager

Start Date

Jun 28, 2013

Tenure

4.01

Tenure Rank

14.4%

James M. D’Arcy, Portfolio Manager, and has been with Vanguard since 2011. Prior to this ,James D'Arcy is a director and senior portfolio manager for Columbia Management focusing on tax-exempt and crossover short duration accounts. In addition, he manages two short-term funds and various short-term separate accounts and is responsible for developing tax-exempt strategies for Columbia Management’s tax-exempt liquidity strategies group. Mr. D'Arcy joined Columbia Management in 1999 and has been a member of the investment community since 1996. Prior to joining Columbia Management, Mr. D'Arcy worked on the fixed-income trading desk at Wells Capital Management. Mr. D'Arcy received his B.A. in economics from the University of Colorado at Boulder. He holds the Chartered Financial Analyst designation. In addition, he is a member of the CFA North Carolina Society and the National Federation of Municipal Analysts.


Tenure Analysis

Category Low

0.0

Category High

37.8

Category Average

7.63

Category Mode

2.5