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VMLTX Vanguard Ltd-Term Tx-Ex

  • Fund
  • VMLTX
  • Price as of: May 28, 2019
  • $11.01 - $0.00 - 0.00%
  • Category
  • National Munis

VMLTX - Profile

Vitals

  • YTD Return 1.4%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return -0.1%
  • Net Assets $27.6 B
  • Holdings in Top 10 6.4%

52 WEEK LOW AND HIGH

$11.01
$10.76
$11.01

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.17%

SALES FEES

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

BROKERAGE FEES

  • Turnover 28.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000

IRA

$3,000

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.76%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard Limited Term Tax Exempt Fund
  • Fund Family Name Vanguard
  • Inception Date Aug 31, 1987
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Adam M. Ferguson

Fund Description

The fund has no limitations on the maturity of individual securities, but is expected to maintain a dollar-weighted average maturity of 2 to 6 years. At least 75% of the securities held by the fund are municipal bonds in the top three credit-rating categories as determined by a nationally recognized statistical rating organization or, if unrated, determined to be of comparable quality by the advisor. The remaining 5% may be invested in securities with lower credit ratings or, if unrated, determined to be of comparable quality by the advisor.

VMLTX - Performance

Return Ranking - Trailing

Period VMLTX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% 0.0% 4.9% 83.10%
1 Yr 1.7% -3.2% 5.4% 67.99%
3 Yr -0.1%* -2.9% 1.7% 28.28%
5 Yr -0.1%* -1.8% 2.3% 67.43%
10 Yr 0.1%* -8.8% 2.4% 86.20%

* Annualized


Return Ranking - Calendar

Period VMLTX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -4.8% 0.8% 16.17%
2017 0.5% -0.9% 5.6% 80.00%
2016 -1.6% -6.1% 7.3% 22.54%
2015 -0.2% -10.9% 2.6% 44.06%
2014 0.2% -60.4% 12.0% 86.68%

Total Return Ranking - Trailing

Period VMLTX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% 0.0% 5.5% 82.90%
1 Yr 1.7% -2.9% 6.9% 69.58%
3 Yr -0.1%* -2.9% 3.2% 37.09%
5 Yr -0.1%* -1.8% 3.7% 74.48%
10 Yr 0.1%* -8.7% 5.0% 89.26%

* Annualized


Total Return Ranking - Calendar

Period VMLTX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -4.8% 1.7% 22.95%
2017 0.5% -0.9% 6.2% 82.02%
2016 -1.6% -6.1% 7.3% 30.33%
2015 -0.2% -9.6% 3.9% 51.43%
2014 0.2% -60.4% 12.0% 89.22%

NAV & Total Return History

VMLTX - Holdings

Concentration Analysis

VMLTX Category Low Category High VMLTX % Rank
Net Assets 27.6 B 770 K 66.2 B 0.60%
Number of Holdings 5222 3 8426 0.60%
Net Assets in Top 10 1.76 B -122 M 1.9 B 1.79%
Weighting of Top 10 6.40% 2.5% 100.0% 92.43%

Top 10 Holdings

  1. Cmt Municipal Rate 1.52%

  2. TEXAS ST 4% 1.31%

  3. GRAND PKWY TRANSN CORP TEX 5% 0.71%

  4. MAIN STR NAT GAS INC GA GAS SUPPLY REV 4% 0.46%

  5. NEW MEXICO FIN AUTH ST TRANSN REV 5% 0.45%

  6. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.45%

  7. TEXAS ST 1.54% 0.43%

  8. NUVEEN INSD TAX-FREE ADVANTAGE MUN FD 1.63% 0.37%

  9. MAIN STR NAT GAS INC GA GAS SUPPLY REV 2.5% 0.36%

  10. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.33%


Asset Allocation

Weighting Return Low Return High VMLTX % Rank
Bonds
97.40% 20.15% 101.83% 58.17%
Cash
2.60% -1.83% 79.85% 41.63%
Stocks
0.00% 0.00% 0.01% 5.38%
Preferred Stocks
0.00% 0.00% 9.32% 4.98%
Other
0.00% -1.35% 30.00% 11.95%
Convertible Bonds
0.00% 0.00% 2.58% 5.78%

Bond Sector Breakdown

Weighting Return Low Return High VMLTX % Rank
Municipal
95.58% 0.00% 112.93% 71.31%
Cash & Equivalents
2.90% -4.96% 79.85% 39.64%
Derivative
0.00% 0.00% 0.01% 5.18%
Securitized
0.00% 0.00% 25.65% 8.17%
Corporate
0.00% 0.00% 34.88% 20.72%
Government
0.00% -13.64% 71.35% 9.76%

Bond Geographic Breakdown

Weighting Return Low Return High VMLTX % Rank
US
96.96% 20.15% 101.37% 54.78%
Non US
0.44% 0.00% 23.81% 38.25%

VMLTX - Expenses

Operational Fees

VMLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.17% 0.09% 4.80% 98.01%
Management Fee 0.14% 0.00% 0.65% 3.98%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.34% N/A

Sales Fees

VMLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 5.50% N/A

Trading Fees

VMLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 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.

VMLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 28.00% 0.00% 504.54% 44.93%

VMLTX - Distributions

Dividend Yield Analysis

VMLTX Category Low Category High VMLTX % Rank
Dividend Yield 0.70% 0.00% 1.98% 15.51%

Dividend Distribution Analysis

VMLTX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History