VMLUX: Vanguard Limited Term Tax Exempt Fund - MutualFunds.com

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Vanguard Ltd-Term Tx-Ex Adm

VMLUX - Snapshot

Vitals

  • YTD Return 1.4%
  • 3 Yr Annualized Return 2.6%
  • 5 Yr Annualized Return 2.1%
  • Net Assets $32.5 B
  • Holdings in Top 10 4.0%

52 WEEK LOW AND HIGH

$11.24
$10.51
$11.26

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.09%

SALES FEES

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

BROKERAGE FEES

  • Turnover 21.00%

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%

$78.56 B

-

$0.00

2.28%

-

Vanguard Limited Term Tax Exempt Fund

Fund

$11.24

0.00%

$32.48 B

-

$0.00

1.44%

-

American Funds Tax Exempt Bond Fund®

Fund

$13.57

+0.07%

$24.26 B

-

$0.00

1.80%

-

Vanguard Short Term Tax Exempt Fund

Fund

$15.94

0.00%

$20.00 B

-

$0.00

0.57%

-

iShares National Muni Bond ETF

MUB | ETF

$116.54

-0.21%

$18.20 B

-

-

2.31%

-

VMLUX - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return 2.6%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.98%
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 1.4% -4.4% 307.3% 41.45%
1 Yr 3.0% -5.4% 5.8% 23.36%
3 Yr 2.6%* -0.6% 8.2% 78.06%
5 Yr 2.1%* -0.3% 6.9% 83.38%
10 Yr 1.9%* -0.1% 8.1% 89.57%

* Annualized

Return Ranking - Calendar

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
2019 2.0% -0.3% 15.4% 89.42%
2018 -0.3% -10.3% 97.2% 8.79%
2017 0.5% -100.0% 7.6% 81.83%
2016 -1.6% -7.9% 96.8% 11.53%
2015 -0.2% -4.8% 3.0% 46.67%

Total Return Ranking - Trailing

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -4.4% 307.3% 41.51%
1 Yr 3.0% -8.3% 5.8% 18.16%
3 Yr 2.6%* -2.5% 8.2% 60.65%
5 Yr 2.1%* -1.5% 6.9% 74.42%
10 Yr 1.9%* -0.4% 8.1% 89.12%

* Annualized

Total Return Ranking - Calendar

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
2019 2.0% -0.3% 15.4% 89.48%
2018 -0.3% -10.3% 11.0% 12.90%
2017 0.5% -100.0% 7.6% 83.14%
2016 -1.6% -7.9% 3.0% 15.54%
2015 -0.2% -4.8% 4.0% 51.55%

NAV & Total Return History

VMLUX - Holdings

Concentration Analysis

VMLUX Category Low Category High VMLUX % Rank
Net Assets 32.5 B 611 K 78.6 B 0.23%
Number of Holdings 7213 1 10805 0.23%
Net Assets in Top 10 1.27 B -199 M 3.97 B 0.79%
Weighting of Top 10 4.01% 2.5% 100.0% 99.04%

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 		97.44% 0.00% 147.66% 69.07%
Cash 		2.56% -47.66% 100.00% 29.99%
Stocks 		0.00% 0.00% 1.80% 93.35%
Preferred Stocks 		0.00% -0.98% 1.07% 92.67%
Other 		0.00% -1.46% 12.83% 92.50%
Convertible Bonds 		0.00% 0.00% 1.64% 93.07%

Bond Sector Breakdown

Weighting Return Low Return High VMLUX % Rank
Municipal 		97.42% 0.00% 100.00% 66.80%
Cash & Equivalents 		2.58% 0.00% 100.00% 30.33%
Derivative 		0.00% 0.00% 2.16% 92.95%
Securitized 		0.00% 0.00% 6.06% 92.95%
Corporate 		0.00% 0.00% 12.97% 94.25%
Government 		0.00% 0.00% 49.72% 93.46%

Bond Geographic Breakdown

Weighting Return Low Return High VMLUX % Rank
US 		96.87% 0.00% 141.34% 52.48%
Non US 		0.57% 0.00% 27.82% 56.26%

VMLUX - Expenses

Operational Fees

VMLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.01% 4.23% 99.37%
Management Fee 0.08% 0.00% 1.10% 1.69%
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% 2.00% 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 21.00% 0.00% 233.00% 51.89%

VMLUX - Distributions

Dividend Yield Analysis

VMLUX Category Low Category High VMLUX % Rank
Dividend Yield 0.00% 0.00% 3.55% 93.30%

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 1.98% 0.00% 6.48% 73.16%

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

3.48

3.5%

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
0.02 35.61 7.61 2.84

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