VMLUX: Vanguard Limited Term Tax Exempt Fund - MutualFunds.com
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Vanguard Ltd-Term Tx-Ex Adm

VMLUX - Snapshot

Vitals

  • YTD Return -0.3%
  • 3 Yr Annualized Return 3.2%
  • 5 Yr Annualized Return 2.1%
  • Net Assets $36.1 B
  • Holdings in Top 10 3.7%

52 WEEK LOW AND HIGH

$11.23
$11.04
$11.29

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.09%

SALES FEES

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

BROKERAGE FEES

  • Turnover 31.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $50,000
  • IRA N/A

Fund Classification

  • Primary Theme
    Municipal Bond
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Short

Compare VMLUX to Popular Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Vanguard Intermediate-Term Tax-Exempt Fund

Fund

$14.80

0.00%

$84.65 B

-

$0.00

-0.40%

0.17%

Vanguard Limited Term Tax Exempt Fund

Fund

$11.23

0.00%

$36.12 B

-

$0.00

-0.27%

0.17%

American Funds Tax Exempt Bond Fund®

Fund

$13.65

0.00%

$26.06 B

-

$0.00

0.22%

0.52%

Vanguard Short Term Tax Exempt Fund

Fund

$15.93

0.00%

$22.20 B

-

$0.00

-0.13%

0.17%

iShares National Muni Bond ETF

MUB | ETF

$116.40

-0.01%

$21.92 B

-

-

-0.45%

0.07%

VMLUX - Profile

Distributions

  • YTD Total Return -0.3%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.77%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Vanguard Limited Term Tax Exempt Fund
  • Fund Family Name
    Vanguard
  • Inception Date
    Feb 12, 2001
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Adam 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.

VMLUX - Performance

Return Ranking - Trailing

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -2.2% 6.0% 64.74%
1 Yr 4.5% -1.3% 26.9% 86.13%
3 Yr 3.2%* 0.3% 9.9% 86.07%
5 Yr 2.1%* -0.5% 7.8% 80.90%
10 Yr 2.0%* -0.1% 10.1% 90.38%

* Annualized

Return Ranking - Calendar

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
2020 1.6% -2.8% 310.0% 51.24%
2019 2.0% -0.3% 15.4% 89.21%
2018 -0.3% -10.3% 97.2% 8.96%
2017 0.5% -100.0% 7.6% 82.04%
2016 -1.6% -7.9% 96.8% 11.63%

Total Return Ranking - Trailing

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -2.2% 6.0% 64.57%
1 Yr 4.5% -4.2% 26.9% 72.27%
3 Yr 3.2%* -1.6% 9.9% 75.70%
5 Yr 2.1%* -1.7% 7.8% 71.93%
10 Yr 2.0%* -0.2% 10.1% 90.05%

* Annualized

Total Return Ranking - Calendar

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
2020 1.6% -2.8% 310.0% 51.24%
2019 2.0% -0.3% 15.4% 89.27%
2018 -0.3% -10.3% 11.0% 13.08%
2017 0.5% -100.0% 7.6% 83.37%
2016 -1.6% -7.9% 3.0% 15.65%

NAV & Total Return History

VMLUX - Holdings

Concentration Analysis

VMLUX Category Low Category High VMLUX % Rank
Net Assets 36.1 B 911 K 84.6 B 0.23%
Number of Holdings 8131 3 11766 0.28%
Net Assets in Top 10 1.3 B -192 M 4.03 B 0.85%
Weighting of Top 10 3.74% 2.3% 100.0% 99.14%

Top 10 Holdings

  1. Cmt Municipal Rate 1.30%
  2. Cmt Municipal Rate 1.30%
  3. Cmt Municipal Rate 1.30%
  4. Cmt Municipal Rate 1.30%
  5. Cmt Municipal Rate 1.30%
  6. Cmt Municipal Rate 1.30%
  7. Cmt Municipal Rate 1.30%
  8. Cmt Municipal Rate 1.30%
  9. Cmt Municipal Rate 1.30%
  10. Cmt Municipal Rate 1.30%

Asset Allocation

Weighting Return Low Return High VMLUX % Rank
Bonds 		96.59% 67.26% 147.73% 67.67%
Cash 		3.40% -47.72% 29.76% 31.49%
Stocks 		0.00% -0.15% 2.34% 68.01%
Preferred Stocks 		0.00% -0.94% 0.15% 67.65%
Other 		0.00% -13.58% 30.00% 69.48%
Convertible Bonds 		0.00% 0.00% 1.26% 68.17%

Bond Sector Breakdown

Weighting Return Low Return High VMLUX % Rank
Municipal 		96.60% 43.37% 100.00% 66.91%
Cash & Equivalents 		3.40% 0.00% 29.76% 31.66%
Derivative 		0.00% 0.00% 0.85% 67.94%
Securitized 		0.00% 0.00% 7.36% 68.56%
Corporate 		0.00% 0.00% 15.75% 75.40%
Government 		0.00% 0.00% 50.36% 70.84%

Bond Geographic Breakdown

Weighting Return Low Return High VMLUX % Rank
US 		96.03% 67.24% 141.36% 52.22%
Non US 		0.56% 0.00% 23.50% 63.21%

VMLUX - Expenses

Operational Fees

VMLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.01% 16.95% 99.42%
Management Fee 0.08% 0.00% 1.12% 1.88%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

VMLUX 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 0.25% 5.50% N/A

Trading Fees

VMLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

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.

VMLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 31.00% 0.00% 299.40% 72.21%

VMLUX - Distributions

Dividend Yield Analysis

VMLUX Category Low Category High VMLUX % Rank
Dividend Yield 0.00% 0.00% 1.80% 70.64%

Dividend Distribution Analysis

VMLUX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

VMLUX Category Low Category High VMLUX % Rank
Net Income Ratio 1.77% -1.65% 5.71% 76.14%

Capital Gain Distribution Analysis

VMLUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

VMLUX - Fund Manager Analysis

Managers

Adam Ferguson

Start Date

Tenure

Tenure Rank

May 10, 2017

3.98

4.0%

Adam M. Ferguson, CFA, Portfolio Manager at Vanguard. He has been with Vanguard since 2004, has worked in investment management since 2008. He has managed the California Intermediate-Term Tax-Exempt Fund since 2013. Education: B.S., Wilmington University; M.B.A., Drexel University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 36.1 7.02 0.49

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